More than ever, companies mired in culturally myopic ideas are finding it more difficult to get ahead in a society that has embraced different backgrounds and lifestyles.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. - Though 98 companies have women directors and 86 have minority directors, only 37 have minority women on their boards. While there have been many points in history where society reflects on expectations of diversity and inclusion, the summer of 2020 has presented a real opportunity for change. Retail powerhouse Walmart employs a massive workforce, and as a result, is one of the most diverse companies in the country. For executive leadership, were now tying incentives to each leaders team diversity goals. It requires establishing procedures to ensure continuous questioning of how things are done here. No women or minorities in the C-suite, two women on the board of 12. For example, Comcast Corp. has been broadcasting to its entire staff talks with experts on racism, including Ibram X. Kendi, best-selling author of Steele: The #BlackLivesMatter movement, in particular, has been instrumental in driving more prevalent conversation about systemic bias. Build specialized knowledge and expand your influence by earning a SHRM Specialty Credential. Why? Illustration by Ty Dale. Other measures include family-friendly benefits like flexible work, adoption assistance and domestic partner benefits. The chief executive of Choice Hotels, Pat Pacious, asked his employees for their grace when he addressed them about Floyds death. Maitland: A key obstacle for organizations is reliance on isolated initiatives. People in the majority may not be aware of their unconscious bias.. as well as other partner offers and accept our, Jeremy Moeller, Chesnot, and Justin Sullivan/Getty Images, Ian Tuttle/Getty Images for Breakthrough Prize, Hakan Nural/Anadolu Agency via Getty Images, Visit Business Insider's homepage for more stories. The analysis gave Accenture PLC a 95% rating for diversity practices. Thereal estate giant Simon Property Group Inc. (SPG) was ranked last in the analysis. As of July 2020, Walmart's US associates are 20.69% Black, 16.39% Latinx, and 55% women. Last week, current president and CEO John Gibson reaffirmed our commitment to continuing our journey to building a strong and sustainable culture of inclusion by the pledge. We continue to see many organizations seeking to address individual bias, but fewer are addressing the bias that hides in organizational structures and processes. container: 'taboola-below-article-thumbnails', In 2020, workers spoke publicly in increasing numbers, often by taking their employers to court over pay disparities, harassment and abuse, and toxic company cultures. Do you think having more people working remotely will affect diversity programs? 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. Three of those had to do with executive and board representation. Having DE&I leaders isnt enough unless theyre empowered by the C-suite to bring real organizational change. The company offers domestic partner benefits to LGBT employees. Please try again or contact us for further assistance. I believed I could not do the best job possible as CEO unless I was also the chief diversity and inclusion [D&I] officer. And we offer 50 actions that people can take at every level to start building inclusion right away. Were talking about racism, Berardinelli says. The hope is that by understanding what people of color endure, white people will become more empathetic and that that understanding will eventually lead to more inclusion. We are currently reviewing your application. Ellis is a fan of unconscious-bias training, though detractors say it can make white employees feel uncomfortable. If the boss says you have to do better, people will do better. White people make up 65 percent of entry-level jobs in corporate America, while people of color represent 32 percent of those posts, according to a study by McKinsey and nonprofit LeanIn.org. We can widen the diverse slate of candidates regardless of location, opening up opportunities to the best talent wherever they reside. Only 3.2 percent of the companys employees are Black. We need to engage policymakers and the government to build out comprehensive reforms, including policing and education. To request permission for specific items, click on the reuse permissions button on the page where you find the item. Research: What Inclusive Companies Have in Common. Beyond the slow advance for women and minorities, there is a smattering of good news in this report. Access your favorite topics in a personalized feed while you're on the go. Calvert Investments, a mutual fund firm that invests in companies that engage in sustainable and responsible practices, put together the survey, released today. Its also important thatwere tracking the progress were making, so in 2019 weadded an inclusion index in our annual employee engagement survey. Most people couldnt believe the [George Floyd video] because it was so vicious. Some company pronouncements about racism sparked negative reactions that highlighted corporate Americas failure to create equitable workplaces. PPG already has a variety of diversity, equity and inclusion (DE&I) initiatives, though it doesnt break out statistics on people of color. Can you explain? According to the company website, Accentureadded more than 1,800 employees of diverse backgrounds in 2017up from approximately 1,000 in 2016. All Rights Reserved. That number rose only one point, to 19%, in two years. In their new book, Indivisible: Radically Rethinking Inclusion For Sustainable Business Results, authors Alison Maitland and Rebekah Steele provide a roadmap and comprehensive action plan for companies to reassess their goals and best practices for improved results. 00:44. What company wouldnt want to see improvement in these areas? employee demographic data, the most important outcome of their D&I strategy. Invest better with The Motley Fool. For the second annual report, Refinitiv analyzed trends in diversity and inclusion data, covering the following areas: trends in diversity and inclusion data reported by public companies over the last five years; long/short portfolio analysis using the Portfolio Analytics app in Refinitiv Eikon; and the constituents of the Refinitiv 2020 . - Women have 19% of board positions but they have only 8% of senior executive slots. We and our partners use cookies on this site to improve our service, perform analytics, personalize advertising, measure advertising performance, and remember website preferences. Article Many seek, for example, to assess inclusion through a handful of questions in an engagement survey about how employees feel, without assessing whether peoples actions and organizational processes and signals consistently support or undermine inclusion. The company did not return a call seeking comment but I know from past stories that it has a policy of not participating in surveys. 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. And with that can come diversity of thought, and it's shown that diversity of thought can really aid organizations." Steele: I was part of the meeting where this was discussed, and I probed into the assumptions being made. placement: 'Below Article Thumbnails', var temp_style = document.createElement('style'); Tech companies supply some of the most financially beneficial jobs on the market. Maitland:Inclusion is sometimes confused with diversity but they are not the same. December 2019 marked the end of the first phase for California's Senate Bill 826, and the results as shown below indicate that 47% of the companies did not disclose their diversity data as per the law. 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. But for these companies, whose. A Division of NBCUniversal. This encapsulates the challenge that even diverse companies face in tackling inclusion. 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. We never talked about this before.. Millions of people have lost their jobs, and the downturn has taken an especially devasting toll on people of color. One initiative already in the works: a book club that explores the topic of racism to help white colleagues better identify with their co-workers of color. A comprehensive analysis by Calvert Investmentsof hiring practices, internal and external initiatives to increase diversity, family-friendly benefitsand representation of women and minorities on company gave Cisco Systems a perfect score for its diversity practices. Irick agrees and will be instituting unconscious-bias training in his division. As many companies work to improve their diversity, equity, and inclusion efforts after a year of protests and calls for change, one career site has been looking at the best companies for. $("span.current-site").html("SHRM China "); We need to stay active about changing the system. For more information, go https://www.refinitiv.com/en/financial-data/indices. To summarize, leaders need to be more ambitious for inclusion. Simon Property's website does list one woman on its board of directors, who's been a director for the company since 2004. Bonnie Marcus M.Ed, CEC, is a certified coach, speaker, host of the podcast Badass Women at Any Age, and author of The Politics of Promotion: How High Achieving Women Get Ahead and Stay Ahead. This can be accomplished thorough a methodical assessment of systems and processes. You can mandate diversity, but you cant mandate inclusion, Minta-Jacobs says. By 2020, there could be 1 million unfilled tech jobs. 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. In an open letter, Chip Bergh, president and chief executive of Levi Strauss & Co., wrote, We pride ourselves on being a progressive company that takes bold stances to promote equity, justice and inclusivity all around the worldbut the hard truth is that we have not always lived up to these principles internally. Its unclear whether recent corporate efforts to shine a light on injustice are having any positive impact. If you are a survivor of sexual assault, you can call the National Sexual Assault Hotline (1-800-656-4673) or visit its website to receive confidential support. This encapsulates the challenge that even the more diverse companies still face in tackling inclusion (Exhibit 4). Top editors give you the stories you want delivered right to your inbox each weekday. According to the company website, Accenture added more than 1,800 employees of diverse backgrounds in 2017 up from approximately 1,000 in 2016. Thats why SHRM has introduced Virtual & Washington, DC | February 26-28, 2023. Progress remains elusive, as evidenced by persistent trends such as the exclusion of a broad range of talent from leadership, continuing pay gaps, and research showing that a majority of people hide or downplay part of who they are at work to try to fit in, all of which can have a detrimental impact on performance. Because more prospective employees than ever are assigning paramount importance to workplace diversity, think tanks and research groups have conducted extensive studies to determine which of the economys largest employers excel in this area and which are lagging behind.As of 2018, the following are the companies best known for embracing workplace diversity, as well as a few that still have work to do.The Best: Cisco SystemsA comprehensive analysis by Calvert Investmentsof hiring practices, internal and external initiatives to increase diversity, family-friendly benefitsand representation of women and minorities on company gave Cisco Systems a perfect score for its diversity practices. Refinitiv if(currentUrl.indexOf("/about-shrm/pages/shrm-china.aspx") > -1) { Her husband, who has experienced police violence firsthand, only acquiesced when white family friends vowed to protect them if anything happened. This collection examines the barriers that prevent companies from addressing gender and racial equality and identifies solutions for building a stronger, more inclusive workforce. The D&I Index utilizes innovative analytics to rate and score companies across 4 main pillars: Diversity, Inclusion, People Development and Controversies. According to 2018 research by Russell Reynolds Associates, 69 percent of chief diversity officers track Watch CNBC's deep-dive into the lack of diversity in U.S. tech companies. Many have policies dictating that a certain number of women and people of color must be considered for all job openings and that interviewer panels must be diverse. SPG is opaque with its EEO-1 stats and its hiring practices withregard to race, gender and sexual orientation, and the company features a glaring lack of diversity in leadership positions. Simon Property Group (SPG -0.69%) -- Diversity score of 10: Simon Property is one of the largest real estate companies in the world and was mentioned in the report as an example of a company that treats diversity as a "compliance matter." Inclusion is seizing the opportunities of that rich mix. Summary. The Motley Fool recommends Berkshire Hathaway and National Oilwell Varco. Despite this, Berkshire just added a third woman to its board of directors a few days ago, and just last week Buffett wrote a Fortune article entitled, "Warren Buffet Is Bullish on Women." Because more prospective employees than ever are assigning paramount importance to workplace diversity, think tanks and research groups have conducted extensive studies to determine which of the economys largest employers excel in this area and which are lagging behind. Company offers domestic partner benefits 95 % rating for diversity practices they are not the same and 86 minority... 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