In addition, approximately 2,300 of employees had a disability, which is4.5%of theworkforce. D&I isnt something you do in your spare time. Were calling out where we want our diversity to be. The bigger obstacle to achieving more diversity in the workplace is that companies are overthinking their approaches, says Pamela Newkirk, author ofDiversity, Inc.: The Failed Promise of a Billion-Dollar Business(Bold Type Books, 2019). We want to make sure they know theyre on the road to partnership, says Shannon Schuyler, chief purpose and inclusion officer at PwC US. Citi provides a publicly available diversity report, available on its website. 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. One woman on board of 10. Why did you decide to become chief diversity officer? All Rights Reserved. The Trump administration's condemnation of some diversity and inclusion programs presents a Catch-22 for employers seeking to . Supplier diversity is an essential aspect of responsible business practices and inclusive economic growth for large companies. Headquarters: Bentonville, AR. The company created an intranet page that used the hashtag #wehearyou for them to share their feelings and concerns. But just as with National Oilwell, Forbes noted that Berkshire doesn't have any women or minorities in the C-suite. + Follow. We and our partners use cookies on this site to improve our service, perform analytics, personalize advertising, measure advertising performance, and remember website preferences. But it also reached out to all the companies. Specifically, companies should track data on team sizes, recruiting, retention, and promotion ratesand systemic problems should have consequences. The gender data doesn't consider transgender or gender nonconforming employees, and only one of the 10 companies reported nonbinary employee demographics. We wanted to say, We understand that youre not OK, Butler-Morton says. Simon treats diversity issues as a compliance matterand does the minimum to avoid running afoul of EEO laws. 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. Forty-three percent of U.S. workers believe discussions about race are inappropriate at work, according to data from the Society for Human Resource Management (SHRM). By sharing, I wanted them to see that its all Black people who have fear, not just those Black people, says Butler-Morton, who is a member of the African American POD, or power of diversity, community at the Palo Alto, Calif.-based software company. var currentUrl = window.location.href.toLowerCase(); Leaders must then create structures and signals that encourage everyone to speak freely. Hobby Lobby took its fight against women's health care all the . Got a confidential news tip? Here are the highest-profile racial and gender discrimination, harassment, and sexual abuse lawsuits that were filed in 2020 against US companies and executives or that added new plaintiffs. A May 2020 report from McKinsey & Co. found that while overall employee sentiment on corporate diversity was 52 percent positive and 31 percent negative, Why tech companies struggle with diversity and inclusion. For example, Comcast Corp. has been broadcasting to its entire staff talks with experts on racism, including Ibram X. Kendi, best-selling author of J. Yo-Jud Cheng. 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 . Tech companies supply some of the most financially beneficial jobs on the market. Now for the bottom of the list: Berkshire-Hathaway - 5 points. A survey of more than 19,000 HBR readers found that . His company, Berkshire Hathaway Inc. (BRK.A), however, ranks far from progressive in its commitment to workplace diversity. Thereal estate giant Simon Property Group Inc. (SPG) was ranked last in the analysis. She advises them to lead with vulnerability and concede that unease. You have to know your success is riding on it.A Lack of Power, The commitment must come from senior levels, and those leaders must ensure that its taken seriously. Such honesty has been largely missing from failed diversity efforts that have cost billions of dollars. Your session has expired. 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. Full list. The global pandemic and social unrest this year has reinforced the focus on diversity and inclusion in the workplace coming from different business stakeholder groups, said Elena Philipova, global head of ESG at Refinitiv. Maitland: We illustrate this in one of the books 14 case studies. Companies are supplementing these dialogues with expert guest speakers, book clubs and websites with tools to help employees learn more about racism. While Citi and Merck shared the No. The company offers domestic partner benefits to LGBT employees. Calvert said that companies in this grouping typically don't have strong diversity leadership. Here are some of the major workplace discrimination, harassment, and retaliation lawsuits that workers filed against America's largest companies in 2020, as well as cases where new plaintiffs joined. Inclusion is about behavior, relationships. Many companies are struggling to stay afloat and may not have the financial or management bandwidth to dedicate to diversity programs. We continue to see many organizations seeking to address individual bias, but fewer are addressing the bias that hides in organizational structures and processes. The companyincreased the number of women in itsworkforce to 37%, a 1% increase on the prior year anda step towardthe companysgoal of at least 40%women by 2020. That runs counter to whats good for profits. The Calvert study designated Berkshire Hathaway as the second to worst company in the S&P 100 for workplace diversity. Our index clients and partners rely upon the unparalleled breath, depth, global network and vast data and content sets that only Refinitiv can provide. There's little push back today on the importance of diversity and inclusion for business. An energy crisis can lead . UK fishermen blast EU trawlers for bullying our boats out of waters, Quanloop Review a trustworthy investment company, Understanding More About Quest Room Platform, Best online colleges to get business degree. The #BlackLivesMatter and #MeToo movements have exploded in recent years, shedding light on systemic racial and gender bias across American society, and in particular, within American workplaces. Alexis.weakley@refinitiv.com. The employee was promoted. Learn More. Refinitiv Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Register here. In 2022, Diversity Day was broadened to "SHIMADZU Diversity and Inclusion Week 2022", which ran from December 5 to 9. 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. These include respect, transparency, fairness, participation and shared power. Please try again or contact us for further assistance. 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 are delighted that our D&I Index continues to be used as a guide to help firms across the globe create a more effective workforce through diverse teams, said Debra Walton, chief revenue officer at Refinitiv. For the companies at the bottom of the ranking, says De Groot, diversity is so lacking in so many areas, there needs to be a complete overhaul of their corporate diversity programs and disclosures. Though there is a faint silver lining. A new ranking from Calvert Investments says. Offering insight and recommendations on investing in sustainable companies must not only be on information providers to-do list to support the social movement but become part of their responsibility in promoting an ESG-driven business culture and metrics that lead to more diverse and inclusive workplaces. Coding sessionsand hackathons have given them a glimpse of what STEM and a career in technology can offer. It provides leading data and insights, trading platforms, and open data and technology platforms that connect a thriving global financial markets community driving performance in trading, investment, wealth management, regulatory compliance, market data management, enterprise risk and fighting financial crime. 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. Refinitiv provides innovative indices and index-related services to the global financial community to help investors make better decisions. We are currently reviewing your application. 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. Theres little push back today on the importance of diversity and inclusion for business. Microsoftsboard of directors is among the most diverse of any tech company with women and ethnic minorities insix of 14 positions. It was the only company to score 100 in Calverts 2010 survey. Once we uncovered the hidden bias about what commitment and leadership looked like, it was swiftly addressed. By working with diverse suppliers, companies can tap into new markets . Invest better with The Motley Fool. We want to hear from you. Regionally the largest increases have been seen in Oceania with a 40% increase. 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