Summary List Placement
Nationwide protests in the wake of the killing of George Floyd have forced some executives to take a hard look at why their diversity and inclusion efforts have struggled.
In a recent investigation, Business Insider found that a major reason diversity and inclusion efforts are ineffective is that companies continue to invest in one-off trainings, instead of complementing them with companywide diversity initiatives. To dismantle systemic racism in the office, employers need to promote people of color internally, listen to stories about discrimination, and collect workforce data, among many other things.
Keeping companies accountable is also key. To help with that effort, the financial-data provider Refinitiv keeps track of efforts in this space through a Diversity & Inclusion Index.
The global index, which was formerly run by Thomson Reuters, looks at metrics such as board gender diversity, who gets internal promotions, and whether a company offers day-care services. To calculate each company’s score for diversity and inclusion, or D&I, Refinitiv’s team assigns each metric a number of possible points. Companies are then given a score out of 100% based on how many points they have.
Refinitiv pulls data for 7,000 companies and then identifies the top 100 publicly traded companies in a country, which is how we arrived at our US list.
So who made the cut? Here are the seven US-headquartered companies that scored highest on the index for the second quarter of 2020.
SEE ALSO: ‘Diversity’ and ‘inclusion’ are the emptiest words in corporate America. Here’s what we really need to dismantle systemic racism in the office.
What they have in common:
All top seven companies listed have at least one female board member and at least one female executive member, are transparent about how much diversity they have at different levels of the organization, and all, except for HP, provide day-care services for employees, according to Refinitiv.
They also rank at the top of the Human Rights Council’s Corporate Equality Index, which ranks companies on their LGBTQ policies and practices. For example, all seven companies have equal health coverage for transgender people, without exclusion, for medically necessary care.
It pays to be at the top of the list. Researchers from McKinsey and MIT have found that diverse workplaces are more productive and more profitable.
7. Merck & Co. Inc.
Example: The pharmaceutical company is part of the Billion Dollar Roundtable, which recognizes businesses that spend at least $1 billion with suppliers that are run by women or minorities.
D&I score: 73%
Global ranking: 33
6. Hewlett Packard Enterprise
Example: The financial technology company has over 13,600 employees across 46 countries in employee resource groups. In addition, the company is listed on the 2020 Best Places to Work for LGBTQ Equality.
D&I score: 73.5%
Global ranking: 30
5. Marriott International Inc.
Example: Marriott partners with multiple nonprofits worldwide to increase diversity. In Mexico, the hospitality chain partners with the economic nonprofit Vital Voices to give career mentorship to women. And in its multinational Bridges From School to Work program, the company is training and employing young people with disabilities, …read more
Source:: Business Insider