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. What company wouldnt want to see improvement in these areas? Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Diversity-Fueled 'Reverse' Bias Claims Put Employers in Quandary. No women or minority top executives, two women on board of 12. In it he says, "The closer that America comes to fully employing the talents of all its citizens, the greater its output of goods and services will be." Were calling out where we want our diversity to be. Gain the intel you need now to successfully anticipate and navigate employment laws, stay compliant and mitigate legal risks. Other measures include family-friendly benefits like flexible work, adoption assistance and domestic partner benefits. Programmed in partnership with The Executive Leadership Council, the event examines how business leaders can take immediate, concrete action addressing racial disparities in their organizations and create sustainable solutions to allow for equity and opportunity for all. Now for the bottom of the list: Berkshire-Hathaway - 5 points. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. The reports that specified gender and race said most of these women were White. Example: In 2010 women held 18% of director positions. Got a confidential news tip? But they often miss the importance of integrating D&I into the fabric of the organization. T.A. Do you think having more people working remotely will affect diversity programs? Ed Andrieski/AP. Some industries are particularly lacking in diversity at the top: Black executives hold only 3% of senior management positions in finance and insurance and 2% in the IT industry. }
According to the company website, Accentureadded more than 1,800 employees of diverse backgrounds in 2017up from approximately 1,000 in 2016. Coding sessionsand hackathons have given them a glimpse of what STEM and a career in technology can offer. Cisco plans to scale DRF with its leaders worldwide. A Stanford and Harvard professor convened a symposium on . Inclusion is about behavior, relationships. Three women and three minorities on board of 12. Rebekah Steele: Many organizations recognize they must do better but are not sure how, which is why we wrote INdivisible. 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.Source: Read Full Article window._taboola = window._taboola || []; Multicultural women make up 17% of the workforce. In addition, National Oilwell Varco has no women or minorities in the C-suite, as a Forbes overview on the report noted earlier this year. Some company pronouncements about racism sparked negative reactions that highlighted corporate Americas failure to create equitable workplaces. Even though there are laws against pay discrimination, US companies on average still pay women just $0.82 for every dollar they pay men, and pay women of color even less and executives have made virtually no progress in closing wage gaps across the country since the early 2000s. Finally, here are some depressing statistics that underline the slow advance of women and minorities: - Though women are hired as frequently as men, 56% of S&P 100 companies have no women or minorities in senior executive positions. The gender data doesn't consider transgender or gender nonconforming employees, and only one of the 10 companies reported nonbinary employee demographics. Globally the cultural diversity of board members has increased from five years ago but has stalled at around 30%. - Women have 19% of board positions but they have only 8% of senior executive slots. The firm has pledged to fight the charges. According to a report from the Boston Consulting Group, companies with more diverse leadership teams report higher innovation revenues. Cost basis and return based on previous market day close. Without these investments, progress will be difficult. Lets suppose the business goal is to become more consistently innovative. Using its definition and looking at public data, as well as reaching out to companies to clarify their diversity data, Calvert found the following companies were the least diverse out of all the companies in the S&P 100: 1. When it comes to diversity, oil and gas companies typically tend to fall behind other industries. Please log in as a SHRM member before saving bookmarks. Overall, companies are better at hiring people of color than they are at promoting them, but hiring is still poor. Join CNBC's Inclusion in Action Forumon Thursday, September 10. 00:44. Fool contributorChris Neiger has no position in any stocks mentioned. It was the only company to score 100 in Calverts 2010 survey. 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 . 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. These include respect, transparency, fairness, participation and shared power. The Calvert study designated Berkshire Hathaway as the second to worst company in the S&P 100 for workplace diversity. Maitland: We illustrate this in one of the books 14 case studies. Invest better with The Motley Fool. Since 2018, companies like Google, Uber, Fox News, Riot Games, UPS, Coca-Cola, and Target have paid out multimillion-dollar settlements, and this year brought an even larger wave of high-profile. He adds that corporate America must prepare for difficult conversations if its truly serious about creating an equitable workplace. We never talked about this before.. It also found that DE&I often isnt an integrated part of companies business strategy. This year that has edged up to 85 points. 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. You have to listen and have people trust you enough to really share their story, because you cant learn without first understanding it. We treat diversity like were trying to hire diverse people from another planet, she says. Another 11 companies, including Accenture, American Express, Dell, McDonalds and PepsiCo, tied for the No. The Motley Fool recommends Berkshire Hathaway and National Oilwell Varco. Thirty-three companies on the list support the legislation, which has stalled in Congress. Mobile +1 917-805-1089 Please enable scripts and reload this page. Here are the companies at the top of the list, and the bottom, with a few statistics. 3 slot, with 90 points. SINGAPORE - Singapore is the second-worst performing country in terms of workplace diversity and inclusion (D&I) practices, based on a poll of employees in 14 developed countries by Kantar, a. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. + Follow. Please try again orcontact usfor further assistance. As I see it, although investors may not see any direct effects of the company's lack of diversity right now, no publicly traded company can continue down the road of minimal diversity in a global market and not experience negative outcomes at some point. 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. Workplace diversity may not be one of the first things you think of when considering investing in a company, but for a company to be truly great it needs the perspective of many individuals. Refinitiv provides innovative indices and index-related services to the global financial community to help investors make better decisions. All associates must show their D&I contributions in the annual performance review. This encapsulates the challenge that even the more diverse companies still face in tackling inclusion (Exhibit 4). 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. It was more about listening.. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Calvert study designated Berkshire Hathaway as the second to worst company in the S&P 100 for workplace diversity. 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. Marcus:What are some actions senior leadership, middle managers, and individuals can take to support D&I? For more information visit: www.refinitiv.com, Lemuel Brewster Calvert last did a corporate diversity survey in 2010, and the strides since then have been small. The D&I Index, launched in 2016, ranks the top 100 publicly traded companies globally with the most diverse and inclusive workplaces, as measured by 24 metrics across four key categories: Diversity, Inclusion, People Development and News Controversies. Executives at AssetMark Financial Holdings Inc. have been thinking about how to bolster the companys commitment to DE&I and dont want to make a knee-jerk decision, says Esi Minta-Jacobs, vice president of human resources at the Concord, Calif.-based money management firm. 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. Only 2 percent of its top 250 executives are Black, while 16 percent are Asian and 6 percent are Latino. A survey of more than 19,000 HBR readers found that . By working with diverse suppliers, companies can tap into new markets . The top 100 ranked companies with the best overall D&I scores are selected for the Index. And with that can come diversity of thought, and it's shown that diversity of thought can really aid organizations." 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. Refinitiv remains fully committed to using our data assets, expertise and influence to champion the importance of diversity and inclusion in the workplace including our own.. 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. Not sure how, which has stalled in Congress & I do but! 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