Page 102 - CRISIL ESG Report 2023

Leadership Indicators
1) Provide the processes for consultation between stakeholders and the Board on economic, environmental, and social topics or if consultation is delegated, how is feedback from such consultations provided to the Board.
We believe proactive and continuous engagement with key stakeholders is crucial to the success of a business enterprise. At CRISIL, feedback gathered in the course of engagement with stakeholders is taken into account and, after due evaluation, is incorporated to improve business processes. Significant learnings may also help shape our strategic initiatives and growth levers. Stakeholders are encouraged to put forth any concerns relating to their engagement with us and reach out to our senior management, if necessary. The engagement scores, complaints and other feedback from stakeholders are monitored at various levels of the management. They also receive the highest attention from the Board/Board committee in its reporting processes.
2) Whether stakeholder consultation is used to support the identification and management of environmental, and social topics (Yes / No). If so, provide details of instances as to how the inputs received from stakeholders on these topics were incorporated into policies and activities of the entity.
Yes.
At CRISIL, consultation with the stakeholders is important for management of the ESG attributes in the areas such as governance oversight, employee enablement and well being, diversity & inclusion, stakeholder engagement and ESG offerings. Our top material issues were identified and prioritized based on their impact on our stakeholders and our business. Such feedback is an important input while devising goals and plans in these areas. Please Refer to Table 8 of the ESG Databook on the process for determining material ESG issues. Please refer to Materiality Assessment on page no 19 of ESG Report.
3) Provide details of instances of engagement with, and actions taken to, address the concerns of vulnerable/ marginalized stakeholder groups.
CRISIL has adopted a Policy on Equal Opportunities at Workplace whereby it commits to ensuring equal opportunity across the organization in all matters of employment and a workplace free from discrimination. We have a very diverse set of employees across the world, by gender, age and nationality. We are committed to ensuring an inclusive environment for all employees, where they can look forward to bringing their true, whole self to work each day.
Consultation with stakeholders is important for management of the ESG attributes in areas of diversity and inclusion, stakeholder engagement and ESG offerings. Such feedback is an important input while devising goals and plans in these areas.
Promoting women leaders
It has been our constant endeavor at CRISIL to enable and encourage women to have thriving careers. There is a conscious approach to increase representation of women at managerial and above levels. Considerable efforts on growth and development of women leaders have yielded substantial impact – hiring efforts across levels (from campus hires to leadership levels with differential referral incentives), internal pool of mentors for women employees in mid-career levels, coaching opportunities and competency-based development journey. 39% of our workforce and 22% of our leadership include women.
Hiring and retention related initiatives for women talent
CRISIL ensures adequate representation of women in the candidate slate for all open positions. Multiple channels – job fairs, campuses, lateral candidates from job market - are leveraged for the same. Early career women talent is leveraged from multiple campuses. Gender diversity, as a metric, is a reference while taking hiring decisions at entry level to ensure proportional representation at ground level. Governance checks are deployed at key milestones in the hiring process to alleviate any bias on selection or offer fitment. Internal mobility of employees is encouraged before external candidates are evaluated for any given position. Leadership Excellence and Accelerated Development (LEAD), Leadership Excellence Program (LEP) and the 1,000 Women Leaders Program in association with Jombay are some key initiatives towards building a strong pipeline of women leaders at CRISIL.
LGBTQIA+ initiatives (Supporting the rainbow community)
We made structured efforts to attract and hire candidates from the LGBTIQA+ community. Our inclusion practices cover:
• A highly successful campaign: #BeAnAlly in June 2023 to celebrate PRIDE Month
• CRISIL covers same-sex partners in the medical insurance policy, and it covers gender affirmative surgery.
• The Eskalera platform has been leveraged to understand concepts of identity, vulnerability, inclusion, exclusion and psychological safety.
• “Leadership Chronicles” was conducted with several external leaders from various geographies and was very well received.
100 ESG Report 2023
Business Responsibility and Sustainability Report