The Motley Fool recommends Berkshire Hathaway and National Oilwell Varco. But it also reached out to all the companies. A new ranking from Calvert Investments says. The analysis gave Accenture PLC a 95% rating for 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. When it comes to diversity, oil and gas companies typically tend to fall behind other industries. Those sticking with the status quo will face greater risks and be less prepared for the big challenges and opportunities that lie ahead. Please log in as a SHRM member before saving bookmarks. Being part of an ERG helps leaders understand our diverse associates and set the example for the rest of our associates. Moreover, as the war for talent returns, companies demonstrating success in this realm could be in the strongest position to hire.. Kenny explains why he made the decision and what hes done since. What do you say to those who think that a white man doesnt have the right experience or authority for the role? May 12, 2020. It may have hurt Berkshire Hathaway that it didnt comply with Calverts requests. The Calvert study designated Berkshire Hathaway as the second to worst company in the S&P 100 for workplace diversity. Progress is taking place, but slowly. 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. Diversity and Inclusion The business case for gender equality, diversity, and inclusion is strong and growing stronger. 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. $("span.current-site").html("SHRM MENA "); 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. For the second annual report, Refinitiv analyzed trends in diversity and inclusion data, covering the following areas: trends in diversity and inclusion data reported by public companies over the last five years; long/short portfolio analysis using the Portfolio Analytics app in Refinitiv Eikon; and the constituents of the Refinitiv 2020 Diversity and Inclusion Index (based on the second quarter 2020 index rebalance). We continue to see many organizations seeking to address individual bias, but fewer are addressing the bias that hides in organizational structures and processes. Please try again orcontact usfor further assistance. 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. We treat diversity like were trying to hire diverse people from another planet, she says. She advises them to lead with vulnerability and concede that unease. Two years ago, the most frequently awarded score was 70 points. In recent years, however, empowered in part by the #BlackLivesMatter and #MeToo movements, American workers are increasingly turning to the courts to hold their employers accountable for breaking civil rights laws and demand companies fix racist, sexist, ageist, ableist, and other biased pay practices and work environments. Inclusion is about behavior, relationships. Here are the companies at the top of the list, and the bottom, with a few statistics. Top 25 Index ranking and their corresponding overall D&I percentage score (%): For more information about the D&I Index (Methodology) please visit: https://www.refinitiv.com/content/dam/marketing/en_us/documents/methodology/diversity-inclusion-rating-methodology.pdf, For a complete list of the Top 100 Most Diverse & Inclusive Organizations Globally, please visit: https://www.refinitiv.com/en/sustainable-finance/diversity-and-inclusion-top-100, To learn what top-ranked institutions are saying about the D&I index, please visit: https://www.refinitiv.com/content/dam/marketing/en_us/documents/reports/diversity-and-inclusion-quotes.pdf. The number of Hispanic employees increased about 1% and the number of Indigenous employees decreased about .01%. It was the only company to score 100 in Calverts 2010 survey. by. While there have been many points in history where society reflects on expectations of diversity and inclusion, the summer of 2020 has presented a real opportunity for change. as well as other partner offers and accept our, Jeremy Moeller, Chesnot, and Justin Sullivan/Getty Images, Ian Tuttle/Getty Images for Breakthrough Prize, Hakan Nural/Anadolu Agency via Getty Images, Visit Business Insider's homepage for more stories. This organization eradicated rewards based on presenteeism and developed a strategy for a flexible working environment focused on rewarding results. It requires establishing procedures to ensure continuous questioning of how things are done here. The groups will now be a vehicle for training programs, including Path to Partnership, which is a three-year program that pairs promising executives with mentors and other forms of support to prepare them to become partners. By 2020, there could be 1 million unfilled tech jobs. The Index is then calculated by weighing each metric based on importance in the market and how each company compares with its peers. $('.container-footer').first().hide(); Her husband, who has experienced police violence firsthand, only acquiesced when white family friends vowed to protect them if anything happened. Accountability is key to moving that needle, alongside investments in D&I programs that attract and create a pipeline of diverse talent. Regionally, Africa is leading the way with on average 34% of female managers. Without it, diversity remains unfulfilled potential. 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. 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. The Trump administration's condemnation of some diversity and inclusion programs presents a Catch-22 for employers seeking to . Diversity-Fueled 'Reverse' Bias Claims Put Employers in Quandary. Thirty-three companies on the list support the legislation, which has stalled in Congress. Cisco plans to scale DRF with its leaders worldwide. Maitland: We set out 10 enablers that drive inclusion by creating connection, opportunity and common cause across organizations. Recently, many have made D&I pledges in the face of the Covid-19 crisis and the #BlackLivesMatter movement. All Shimadzu Group companies had time together to think about diversity and inclusion (D&I). But tech companies are still lagging when it comes to diversity and inclusion. Research: What Inclusive Companies Have in Common. But for these companies, whose. We will send you email confirmation within 24 hours with further instructions on how to proceed with access to Refinitiv. According to a report completed by Calvert Investments just a few months ago, most companies in the S&P 100 are improving their diversity initiatives and reporting, while a handful are falling far behind the pack. Specifically, companies should track data on team sizes, recruiting, retention, and promotion ratesand systemic problems should have consequences. Its director selection criteria say it seeks women and minorities. The 2020 report found that companies with greater gender diversity were . According to the company website, Accenture added more than 1,800 employees of diverse backgrounds in 2017 up from approximately 1,000 in 2016. But they often miss the importance of integrating D&I into the fabric of the organization. Please resubmit your details and we will send you a new email. Refinitiv 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. For example, Comcast Corp. has been broadcasting to its entire staff talks with experts on racism, including Ibram X. Kendi, best-selling author of Globally the cultural diversity of board members has increased from five years ago but has stalled at around 30%. } 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. If you are a survivor of sexual assault, you can call the National Sexual Assault Hotline (1-800-656-4673) or visit its website to receive confidential support. Companies are built on good ideas and hard work, which find their source in different perspectives and viewpoints. According to 2018 research by Russell Reynolds Associates, 69 percent of chief diversity officers track Two minority executives as of August 2012 and two minority women on 17-member board plus two minority men. still lagging when it comes to diversity and inclusion. . Members may download one copy of our sample forms and templates for your personal use within your organization. His company, Berkshire Hathaway Inc. (BRK.A), however, ranks far from progressive in its commitment to workplace diversity. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. 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. It also found that DE&I often isnt an integrated part of companies business strategy. You have successfully saved this page as a bookmark. The company explicitly states it does not consider diversity when directors and board members are selected. Were calling out where we want our diversity to be. Do you think having more people working remotely will affect diversity programs? PPG already has a variety of diversity, equity and inclusion (DE&I) initiatives, though it doesnt break out statistics on people of color. Refinitiv Diversity & Inclusion report shows progress across cultural and gender board diversity: EMEA leads the way with the most culturally and gender diverse boards. Or they replicate so-called best practices, such as implicit bias awareness training, even when these practices have been shown to have limited impact. Access your favorite topics in a personalized feed while you're on the go. Only 35 percent of chief diversity officers say they have employee demographic data, leaving the majority without necessary information to support their work, according to the Russell Reynolds report. Typically, however, DE&I leaders lack influence. As a result, discussions about the typically taboo subject sprung up all over at the Pittsburgh-based maker of paints and specialty materials. 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. Oct 2011. 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. Without these investments, progress will be difficult. Then you have to accept that systemic racism exists. Bronwen Evans, Chief Talent Officer with MedCan, a leading health management company in Canada, says, "With the vast majority of our talent working remotely through the pandemic, we've had to. Many companies are struggling to stay afloat and may not have the financial or management bandwidth to dedicate to diversity programs. National Oilwell Varco (NOV 1.55%) -- 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 only two companies in the study that doesn't have any diversity on its board of directors. The D&I Index utilizes innovative analytics to rate and score companies across 4 main pillars: Diversity, Inclusion, People Development and Controversies. 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. The company explicitly states it does not consider diversity when directors and board members are selected. Illustration by Ty Dale. Industries leading this years D&I Index Top 100 are banking, investment services & insurance firms with a total of 18, followed by pharmaceuticals with 9 and telecommunications services, specialty retailers and personal & household products & services with 7 respectively. 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.
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worst companies for diversity and inclusion 2020