He adds that corporate America must prepare for difficult conversations if its truly serious about creating an equitable workplace. You have to listen and have people trust you enough to really share their story, because you cant learn without first understanding it. For more information visit: www.refinitiv.com, Lemuel Brewster United States leads the Top 100 list with 20 firms followed by the United Kingdom with 13, Australia with 9 and Canada and France with 7. [email protected], Alexis Weakley We need to engage policymakers and the government to build out comprehensive reforms, including policing and education. The employee was promoted. The company must clearly communicate that dedication to diversity and inclusion is not just a passing trend that frontline leaders can wait out or avoid implementing. 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. Nielsen HoldingsChief Executive Officer David Kenny caused a stir in early 2019 when he appointed himself chief diversity officer of the New York City-based information services company. 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. the importance of diversity and inclusion, organizations struggle to find the best approach. But experts say the brutal and public nature of Floyds death has caused a reckoning that can lead to advances in diversity if companies build on the moment with frank conversations about race. 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. Some company pronouncements about racism sparked negative reactions that highlighted corporate Americas failure to create equitable workplaces. Out of the 330 companies that submitted a report, 48 did not comply and had all-male boards. Inclusion programs may violate civil rights law, if done incorrectly. 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. For more information, go https://www.refinitiv.com/en/financial-data/indices. It was the only company to score 100 in Calverts 2010 survey. The number of companies with an official flexible working policy has increased by 54% over the last five years. Do you think having more people working remotely will affect diversity programs? A May 2020 report from McKinsey & Co. found that while overall employee sentiment on corporate diversity was 52 percent positive and 31 percent negative, sentiment on inclusion was markedly worse . Regionally the largest increases have been seen in Oceania with a 40% increase. The rebound in hiring for diversity-and-inclusion-related jobs is a meaningful signal of a deeper and more sustained investment, given how expensive and challenging it is to find, hire and retain . Without these investments, progress will be difficult. 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. Shanis Windland, VMwares vice president of diversity and inclusion, acknowledges that the companys need to improve its record. D&I isnt something you do in your spare time. An in-depth discussion among diversity experts on realizing the benefits of diversity. Some employers have increased those numbers. But tech companies are still lagging when it comes to diversity and inclusion. Hes a white man, and such posts are typically reserved for women or people of color. How to Be an Antiracist (One World, 2019). A Stanford and Harvard professor convened a symposium on . Steele: In contrast with these piecemeal efforts, we provide a comprehensive, step-by-step approach that aligns inclusion to business goals, integrates it into business strategy and makes it indivisible from the way the organization operates. 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.The Best: Accenture PLCThe analysis gave Accenture PLC a 95% rating for diversity practices. 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. Meanwhile, JPMorgan Chases chief executive, Jamie Dimon, was photographed with several staffers taking a knee in front of a bank vault, prompting ridicule on social media that pointed out that the bank paid $24 million in 2018 to settle a racial-bias suit brought by current and former Black employees. 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%. What advice would you give other CEOs who are considering becoming their companys chief diversity officer? What do you say to those who think that a white man doesnt have the right experience or authority for the role? Watch CNBC's deep-dive into the lack of diversity in U.S. tech companies. It is about achieving sustainable positive results for business and society by creating and maintaining environments in which every voice is heard, every person matters, and everyone has what they need to flourish while contributing to shared goals. Your session has expired. It clarified that commitment was not about working long hours but about achieving goals. Once we uncovered the hidden bias about what commitment and leadership looked like, it was swiftly addressed. Companies are supplementing these dialogues with expert guest speakers, book clubs and websites with tools to help employees learn more about racism. Only companies with scores across all four pillars are assigned an overall score (the average of the pillar scores). Im encouraged by the numbers of people protesting and demanding change. var currentUrl = window.location.href.toLowerCase(); Example: In 2010 women held 18% of director positions. Calvert gathered publicly available information from company websites, SEC filings, the Human Rights Campaign Corporate Equality Index and other sources. COVID-19 has shone a light on why diversity is critical for business recovery and resilience. Thats why SHRM has introduced $(document).ready(function () { Thank you for registering. According to Fran Katsoudas, Chief People Officer at Cisco, This framework is a game changer for us in identifying and attracting the best talent.. A few days later, Marilyn Booker, a former head of diversity and inclusion and longtime executive at the bank, sued for systemic racial discrimination, alleging her budget was consistently cut and her efforts blocked. This year, consulting firm PricewaterhouseCoopers (PwC) is relaunching its version of employee resource groups, called inclusion networks, to give them a more formal structure so they can play a greater role in preparing diverse individuals to ascend the company ranks. 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. Congratulations to the 2020 D&I Index Top 100 most diverse & inclusive organizations globally. 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. The analysis by Calvert Investments also gave Microsoft Corporation a perfect score for its diversity practices. 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. Refinitiv is one of the worlds largest providers of financial markets data and infrastructure, serving over 40,000 institutions in approximately 190 countries. Do you think the current focus on racial inequality will change anything? 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. Coding sessionsand hackathons have given them a glimpse of what STEM and a career in technology can offer. The list includes 24 countries. These include respect, transparency, fairness, participation and shared power. The Motley Fool recommends Berkshire Hathaway and National Oilwell Varco. According to Diversity Inc., which compiles a list of the top 50 most diverse companies each year, no oil company has made it on its list since 2004. container: 'taboola-below-article-thumbnails', Members may download one copy of our sample forms and templates for your personal use within your organization. But Shah Paikeday says companies have been more proactive about reaching out to telecommuting employees and keeping them engaged. Please try again or contact us for further assistance. This organization eradicated rewards based on presenteeism and developed a strategy for a flexible working environment focused on rewarding results. 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. 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. Silence is perceived as a lack of solidarity, says Tina Shah Paikeday, global head of diversity and inclusion advisory services at Russell Reynolds Associates, a New York City-based executive search and consulting firm. Specific actions depend on the organizations priorities. We want to hear from you. Each member of our executive team must also be actively involved with our ERGs [employee resource groups]. Mobile +1 917-805-1089 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. And here at work we need to make room for people to share stories of injustice, microaggressions and inequity and for others to listen and act to change wherever and however we can. This establishes an organizational ecosystem, cultivating and signalling inclusion for widespread, lasting impact. No women top executives, did not respond to survey, no evidence of diversity programs, though it does address sexual orientation as part of its equal opportunity program. The Index is then calculated by weighing each metric based on importance in the market and how each company compares with its peers. A total of 25% more companies have a career development policy in place than five years ago. 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. According to a report from the Boston Consulting Group, companies with more diverse leadership teams report higher innovation revenues. The majority of people doing the hiring arent minorities, he says. document.head.append(temp_style); You may be trying to access this site from a secured browser on the server. Clash creates pressure for employers pushing equality. $('.container-footer').first().hide(); 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. It showed that five years after training became required. Were calling out where we want our diversity to be. Lets suppose the business goal is to become more consistently innovative. The executive explained how he learned about the subject from his Black father, who protested segregation in the 1960s, and how he would lead theunitin conversations about recent events. Such honesty has been largely missing from failed diversity efforts that have cost billions of dollars. American workplaces have long been hotbeds of discrimination and harassment, particularly for those who aren't white, light-skinned, male, straight, single, young, able-bodied Americans. Boris Groysberg. employee demographic data, the most important outcome of their D&I strategy. The company offers domestic partner benefits to LGBT employees. 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. Headquarters: Bentonville, AR. The company increased the number of women in its workforce to 37%, a 1% increase on the prior year and a step toward the company's . At the best-rated companies at least, Calvert awarded top marks on the 10 factors it used to measure progress on diversity. Please resubmit your details and we will send you a new email. In 2019, the Equal Employment Opportunity Commission received more than 7,500 sexual harassment complaints, and 72,000 complaints about racial, sex, age, religious and other types of discrimination. One such signal is for senior leaders to ask at the start of every strategy meeting: Who will share a different idea to help us be more discerning and more creative?. The bold insights, practical actions, and whole-system approach we lay out in INdivisible will help organizations to harness that collective superpower that enables the innovation and commitment we need for a sustainable future. Tech companies are notoriously white and male, a homogeneity that stems from the white and male venture capital firms that finance them. 1. You need to lay out goals to diversify the upper ranks at companies and make sure that leaders at the top are held accountable for having diverse teams who are progressing in their careers. Simon treats diversity issues as a compliance matterand does the minimum to avoid running afoul of EEO laws. These things never came to my mind, says Berardinelli, PPG human resources director, global architectural coatings, U.S. and Canada. To summarize, leaders need to be more ambitious for inclusion. Our Diversity and Inclusion Index, now in its fifth year, emphasizes the critical importance for companies to commit to, measure and report on their diversity journey beyond gender. Every decision we make to develop great products, develop the organization and represent the company externally requires D&I to be at the center of everything we do. Get this delivered to your inbox, and more info about our products and services. Key mistakes to avoid to promote diversity equity and inclusion in the workplace amid a changing climate. For example, after Floyds death, Morgan Stanleys chief executive, James Gorman, promoted two Black women to senior roles and pledged $25 million to create a diversity institute at the investment bank. , acknowledges that the companys need to improve its record company offers domestic partner benefits LGBT! Site from a secured browser on the 10 factors it used to measure progress on diversity white. Help employees learn more about racism sparked negative reactions that highlighted corporate Americas failure to equitable. Will affect diversity programs then calculated by weighing each metric based on importance in the workplace amid a changing.. Organizations globally diversity is critical for business recovery and resilience more info about our and... Widespread, lasting impact guest speakers, book clubs and websites with to. Says Berardinelli, PPG Human resources director, global architectural coatings, U.S. and Canada Group, with... 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