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. Industry: Retail. 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. Programs dont change unless theres accountability.. The reports that specified gender and race said most of these women were White. Fool contributorChris Neiger has no position in any stocks mentioned. What surprised me was how many people wanted to tell their stories, says Irick, vice president, architectural coatings, U.S. and Canada. Companies spend $8 billion a year on diversity training, according to consulting company McKinsey & Co. I needed to make sure that our company is diverse and that our diverse associates were included in every decision and everyone here is advancing. _taboola.push({ And a place where we, our members, and our business community can bring our unique professional talents to stand together against all forms of social injustice. Its also important thatwere tracking the progress were making, so in 2019 weadded an inclusion index in our annual employee engagement survey. National Oilwell Varco ( NOV -0.78%) -- Diversity score of 15: This oil and gas component and equipment company received the third-lowest rating in the report, partly because it was one of. She advises them to lead with vulnerability and concede that unease. First, you need real humilityyou cant understand the injustice until it happens to you. Top editors give you the stories you want delivered right to your inbox each weekday. Clash creates pressure for employers pushing equality. 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. But theres something different going on now. Berkshire has two women on its board of directors but none in the C-suite. The companys lack of commitment to diversity is especially troubling given its influence in an industry where practices such as redlining and predatory lending have put minorities at a disadvantage in the real estate market for decades. Since 2000, 99% of Fortune 500 companies have paid settlements in at least one discrimination or sexual harassment lawsuit, according to a report from Good Jobs First, and that's not including the cases without a public record or incidents victims didn't report. 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. According to 2018 research by Russell Reynolds Associates, 69 percent of chief diversity officers track Other measures include family-friendly benefits like flexible work, adoption assistance and domestic partner benefits. CNBC explored why it's challenging for Big Tech to diversify and what experts say should be done to solve the problem. Retail powerhouse Walmart employs a massive workforce, and as a result, is one of the most diverse companies in the country. Two minority executives as of August 2012 and two minority women on 17-member board plus two minority men. According to the Wall Street Journal, in 2018, four Berkshire businesses hirednew CEOs(Dairy Queen, Duracell, Larson-Juhl and Berkshire Hathaway Energy), and all four of those CEOs were men. Without these investments, progress will be difficult. Others didnt prioritize diversity even in good times. A survey of more than 19,000 HBR readers found that . Disgusted and saddened by the May killing of George Floyd while in police custody, Jaime Irick wrote a letter about racism to his team of more than 6,000 employees at PPG. D&I isnt something you do in your spare time. 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. Data is a real-time snapshot *Data is delayed at least 15 minutes. 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. More than that, the company moved from relying on individual awareness and actions for inclusion to refining its people processes. 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. PPG already has a variety of diversity, equity and inclusion (DE&I) initiatives, though it doesnt break out statistics on people of color. According to Fran Katsoudas, Chief People Officer at Cisco, This framework is a game changer for us in identifying and attracting the best talent.. The industry with the highest D&I score is software and IT services, with the highest diversity score and second highest inclusion score. 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). 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 . Most people couldnt believe the [George Floyd video] because it was so vicious. It has also instituted more training on inclusion for its managers, and now both a woman and a minority must be considered for any open position. Coding sessionsand hackathons have given them a glimpse of what STEM and a career in technology can offer. } William Trout, Head of Wealth Management at Celent, commented: ESG today has reached a tipping point, and issues related to employee welfare, gender equality, supplier diversity and other social concerns today vie with governance and environmental considerations for attention. The companys lack of commitment to diversity is especially troubling given its influence in an industry where practices such as redlining and predatory lending have put minorities at a disadvantage in the real estate market for decades. More than 1,600 CEOs have signed onto the CEO Action for Diversity & Inclusion Pledge, and 40% of companies discussed diversity and inclusion in their Q2 2020 earnings calls versus only 4% the . Were saying, This is what your partnership class is going to look like.. We and our partners use cookies on this site to improve our service, perform analytics, personalize advertising, measure advertising performance, and remember website preferences. The D&I Index utilizes innovative analytics to rate and score companies across 4 main pillars: Diversity, Inclusion, People Development and Controversies. The D&I index continues to receive recognition from industry analysts across the globe: Sang Lee, Managing Partner at Aite Group, commented: The continued industry interest in the D&I index reflects the increased investor appetite to invest in environmental, social, and governance related areas and the changes that are happening across all sectors of the capital markets. Members can get help with HR questions via phone, chat or email. Will Jan, Vice President & Lead Analyst at Outsell, commented: Social investing and D&I initiatives have become front-and-center on many executives agendas. But just as with National Oilwell, Forbes noted that Berkshire doesn't have any women or minorities in the C-suite. 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. 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. The global pandemic has certainly brought to light a renewed focus on diversity and inclusion, reinforcing the reality that we are all in this together. The Index is then calculated by weighing each metric based on importance in the market and how each company compares with its peers. Citi provides a publicly available diversity report, available on its website. Rebekah Steele: Many organizations recognize they must do better but are not sure how, which is why we wrote INdivisible. Hobby Lobby took its fight against women's health care all the . I have an even greater responsibility to be an ally to individuals and advocate to change the system that has allowed racism to continue. Headquarters: Bentonville, AR. It may have hurt Berkshire Hathaway that it didnt comply with Calverts requests. The list includes 24 countries. About Paychex Its often a marginalized role with high turnover, Newkirk says. All S&P 500 companies now have at least one woman on the board, and executive search firm Spencer Stuart found that last year, of the 432 new independent directors added to S&P 500 boards, 59%. Theyre designed for groups of colleagues with similar backgrounds to cometogether, share experiences and support one another. 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. 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. Number of US employees: 1.4 million. Now they cant unsee it.. Some of the largest asset managers in the world have this year become much more active in engaging in shareholder voting on the issue of improving diversity and even the worlds oldest private banks have taken to the industry stage to discuss their investment strategies around ESG.. 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. Senior leaders must first ask how elevating inclusion can help them achieve that goal, such as by ensuring that no one holds back creative ideas. Thirty-three companies on the list support the legislation, which has stalled in Congress. 2023 CNBC LLC. At Refinitiv, we are committed to using our data to further our own goals and to provide those insights to the broader market.. 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. 1 slot, getting a perfect 100 score in Calverts ranking, JP Morgan Chase and CocaCola tied for second place, with a score of 95. T.A. That number rose only one point, to 19%, in two years. These things never came to my mind, says Berardinelli, PPG human resources director, global architectural coatings, U.S. and Canada. A Stanford and Harvard professor convened a symposium on . 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