Please note that all such forms and policies should be reviewed by your legal counsel for compliance with applicable law, and should be modified to suit your organizations culture, industry, and practices. We and our partners use cookies on this site to improve our service, perform analytics, personalize advertising, measure advertising performance, and remember website preferences. Example: In 2010 women held 18% of director positions. Headquarters: Bentonville, AR. Regionally, Africa is leading the way with on average 34% of female managers. Erin Dowell, JD, is an equity and inclusion practitioner, investigator, and consultant. Here are the 11 companies that earned 90 points, including PepsiCo, the only company in the S&P 100 with a minority woman, Indra Nooyi, as its CEO: Abbott Laboratories, Accenture, American Express, Bristol-Myers Squibb, Comcast, Dell, Kraft Foods, McDonalds, Nike, PepsiCo, Pfizer. Leaders were about to rule out a high-potential employee for promotion on the grounds that the individual lacked commitment because they left work daily at 5pm. Your session has expired. I have an even greater responsibility to be an ally to individuals and advocate to change the system that has allowed racism to continue. Full list. Marcus:Do you think senior leadership understands the business case for a more diverse and inclusive workplace? In addition, approximately 2,300 of employees had a disability, which is4.5%of theworkforce.Needs Work: Berkshire HathawayAnincontrovertible argument can be made that Warren Buffett is the most forward-thinking investor of the 20th and 21st centuries. This can be accomplished thorough a methodical assessment of systems and processes. He maintains that executives tendency to put short-term gains in front of long-term strategy blocks them from prioritizing diversity. They know the value, but are less certain about what to do. This concerns the CEO of investment managing company HIP Investor, Paul Herman, who said in aRigzone article last year that the lack of diversity in oil and gas companies can destroy shareholder value. De Groot says that more companies are offering broader policies to welcome LGBT employees, and a growing number of companies support a proposed law, the Employment Non-Discrimination Act, which would prohibit discrimination based on sexual orientation and gender identity. This encapsulates the challenge that even diverse companies face in tackling inclusion. According to the available data from 10 major U.S. tech companies gathered between 2014 and 2019, the percentage of women in these workforces increased less than 2%. This encapsulates the challenge that even the more diverse companies still face in tackling inclusion (Exhibit 4). While 38 percent of the San Francisco-based clothing companys total U.S. workforce is non-white, there are no Black individuals on its corporate board or among its executive leadership team. National Oilwell Varco (NOV 1.55%) -- Diversity score of 15: This oil and gas component and equipment company received the third-lowest rating in the report, partly because it was one of only two companies in the study that doesn't have any diversity on its board of directors. According toMichelle Simmons,General Manager,Southeast Asia New Markets, Microsoft Asia Pacific, Microsoft is working with schools and teachers to create opportunities for more than 1 million young men and women in Sri Lanka. Key findings of the Refinitiv Diversity and Inclusion report for 2020 include: For more information about the Diversity and Inclusion report for 2020, please visit:https://www.refinitiv.com/en/resources/special-report/diversity-and-inclusion-at-workplace. Disgusted and saddened by the May killing of George Floyd while in police custody, Jaime Irick wrote a letter about racism to his team of more than 6,000 employees at PPG. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. At a VMware Inc. event, LaTreece Butler-Morton shared how her husband didnt want her and their teenage son to attend a Black Lives Matter protest because he feared for their safety. At Refinitiv, we are committed to using our data to further our own goals and to provide those insights to the broader market.. In addition, diversity is such a hot-button issue that, in 2018,IBM was in the process of suingMicrosoft to stop its chief diversity officer from moving to Microsoft. It's a story that's been told time and time again: Tech companies are just not diverse enough. A 2018 study by the National Urban League found that fewer than 3% of tech workers identify as black at companies such as Uber, Twitter, Google and Facebook. Such honesty has been largely missing from failed diversity efforts that have cost billions of dollars. CNBC's Jon Fortt described it like this: "Women, people of color, often have different experiences. Or they focus only on inclusive leadership development without recognizing that everyone at all levels is accountable for inclusion and needs support to play their part. This establishes an organizational ecosystem, cultivating and signalling inclusion for widespread, lasting impact. Marcus:What are some actions senior leadership, middle managers, and individuals can take to support D&I? Denmark dismisses White House socialism report as fake news, Online subprime lender Elevate Credit plunges from record low after earnings, New bids likely for one vacant slot in advanced cell PLI, STEPN to Introduce New Features Soon, Drive Value Back to GMT, Manufacturing contracts for third straight month, House passes bill to REIN IN executive orders that worsen inflation, Common Sense Networks Forms Board Of Directors, With Former Nickelodeon President Geraldine Laybourne And Ex-Sesame Workshop Boss Gary Knell Among Elected Members, An investment company needs to gain its investors trust by looking after their wellbeing and taking measures to protect them from risks. Featured speakers includeBlavity's Morgan DeBaun, IBM's Ginni Rometty, Carnival's Arnold Donald, Uber's Bo Young Lee, Kearney's Alex Liu, Washington Football Teams's Jason Wright and more. The employee was highly efficient and regularly exceeded performance targets. On a board of 12, two women and two minorities. May 12, 2020. No women or minorities in the C-suite, two women on the board of 12. Please resubmit your details and we will send you a new email. When the economy is unstable, employers are faced with difficult decisions around staffing, pay and benefits. Oct 2011. As part of the campaign, VMware has contributed to social justice organizations and will match employees donations. For forward-thinking job seekers looking for somewhere to launch a career, workplace diversity is as important a consideration as many of the typical criteria used to compare career opportunitiessuch as pay, benefits, flexibility and upward mobility. Its an emerging phenomenon in corporate America. Got a confidential news tip? By clicking Sign up, you agree to receive marketing emails from Insider }); if($('.container-footer').length > 1){ }); PreviousDenmark dismisses White House socialism report as fake news NextOnline subprime lender Elevate Credit plunges from record low after earnings. According to Fran Katsoudas, Chief People Officer at Cisco, This framework is a game changer for us in identifying and attracting the best talent.. You have to listen and have people trust you enough to really share their story, because you cant learn without first understanding it. Out of the 330 companies that submitted a report, 48 did not comply and had all-male boards. The D&I Index is available on Refinitiv Workspace and Eikon, as are the underlying diversity and inclusion metrics, which are used by financial professionals to evaluate sustainability related risks and opportunities of companies across their investments, as well as empower diversity-lens investing strategies. In 2017, Cisco announced the launch of itsDiverse Representation Framework (DRF), a system that provides data to help hiring managers find talent in the markets where they do business. Article Research: What Inclusive Companies Have in Common. Energy crises can have a significant impact on the world economy, as energy is a fundamental input for almost all economic activities. Its not enough to measure diversity in your total associate population. Notably, this is not a once and done effort. No women or minorities on the board or in the C-suite, but the company addresses sexual orientation in its equal employment policy. Three women and three minorities on board of 12. Organizations will continue to miss out on well-researched benefits of inclusion, such as enhanced team performance, consistent innovation, smarter decision-making, greater productivity, and improved customer relations. The benefits include improving financial performance, leveraging talents, reflecting the marketplace, and increasing innovation and group performance. Cisco plans to scale DRF with its leaders worldwide. It's in the best interest of National Oilwell Varco, and its investors, to address its diversity issues now so it can make changes to its policies in the near future. Once we uncovered the hidden bias about what commitment and leadership looked like, it was swiftly addressed. In identifying director nominees, the Governance Committee does not seek diversity, however defined.". To make real progress, they must directly challenge assumptions underlying the written and unwritten rules at work. Now they cant unsee it.. Globally the cultural diversity of board members has increased from five years ago but has stalled at around 30%. Less than half47 percentof companies in the S&P 500 had a chief diversity officer or similar post at the end of 2018, according to a study by Russell Reynolds. We notice that you have used an expired link to try and complete registration. Then you have to accept that systemic racism exists. The company also announced last month -- after the Calvert report was released -- that Liz Zale, formerly the vice president of investor relations for Nielsen Holdings, is a new senior vice president with Simon. I wanted to support my son.. As a result, discussions about the typically taboo subject sprung up all over at the Pittsburgh-based maker of paints and specialty materials. In its study, Calvert defined diversity as: "Nondiscrimination and equal opportunity concerning recruitment, hiring, pay, promotion, training, and tenure without regard to race, gender, age, religion, national origin, ethnicity, sexual orientation, gender identity and expression, HIV/AIDS status, medical status, and mental and physical ability.". Each member of our executive team must also be actively involved with our ERGs [employee resource groups]. But it also reached out to all the companies. 2023 CNBC LLC. Two minority executives as of August 2012 and two minority women on 17-member board plus two minority men. That means they arent planning robust inclusion strategies and committing resources like they would any other business driver such as marketing, finance or safety. Or minorities in the C-suite, two women and three minorities on board of 12, two women on board.. `` investigator, and consultant executive team must also be actively involved with our ERGs [ resource...: what inclusive companies have in Common Tech companies are just worst companies for diversity and inclusion 2020 diverse enough that systemic racism exists also actively... 17-Member board plus two minority men a Motley Fool member today to get instant access to our top analyst,! To further our own goals and to provide those insights to the broader market August 2012 and two minority as... Missing from failed diversity efforts that have cost billions of dollars equal employment.. 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