Why They Stand Out: The companies on this list, more than any of the 401 that submitted data to The 2009 DiversityInc Top 50 Companies for Diversity® survey, are recruiting and retaining workers and managers who are diverse in every way. They realize that the economic downturn is the best time to look for new talent and an even more critical time to value and hold on to people who are critical to the company's strategic lines of business. A couple of brief examples of why they are able to find and hold on to people: An average of 37 percent of their work forces and 45 percent of their new hires are Black, Latino, Asian and American Indian, while 54.5 percent of their work forces and 58 percent of their new hires are women. All of them have adoption assistance, job sharing and strong mentoring programs and employee-resource groups, which they use for recruitment and talent development.
For more on retention, attend DiversityInc's Retention Best Practices webinar on Tuesday, March 24, at 2 p.m. Eastern time, featuring Ernst & Young and Accenture, Nos. 3 and 23, respectively, in the DiversityInc Top 50.
For more on recruitment, attend DiversityInc's Recruitment Best Practices webinar on Tuesday, May 19, at 2 p.m. Eastern time, featuring Verizon Communications and Deloitte, Nos. 12 and 33, respectively, in the DiversityInc Top 50.
Methodology: The companies on this list all submitted their data as part of The 2009 DiversityInc Top 50 Companies for Diversity survey. To select the DiversityInc Top 10 Companies for Recruitment & Retention, we isolated their submissions in the Human Capital area and particularly examined ratios that show progress.
Specifically, we looked at the racial/ethnic/gender demographics within ratios for the entire work force compared with new hires; ratios for overall management compared with management promotions; ratios between three levels of management; work/life benefits; recruitment and retention programs aimed at LGBT employees and employees with disabilities; and relationships with professional and educational organizations.
We also examined the use of employee-resource groups for recruitment and retention, including the types of groups and the percentages of employees who participate; the strength of mentoring programs; diversity-training programs; and employee surveys.
Here are the top 10 and a reason why each of them made this list:
No. 1: American Express Co., No. 13 in the DiversityInc Top 50. Also No. 3 in The DiversityInc Top 10 Companies for Asian Americans and No. 5 in The DiversityInc Top 10 Companies for Executive Women
A long-time leader in talent development, especially for women, American Express has some of the strongest employee-resource groups we've seen, with 67 percent of employees participating and groups based on religion and age, among other factors. Women are 53 percent of all managers and 25 percent of senior managers (CEO and direct reports).
No. 2: Bank of America, No. 14 in the DiversityInc Top 50. Also No. 6 in The DiversityInc Top 10 Companies for Latinos; No. 4 in The DiversityInc Top 10 Companies for Executive Women; and No. 9 in The DiversityInc Top 10 Companies for Supplier Diversity
Bank of America has excellent work/life benefits and particularly strong benefits for the same-sex partners of its employees. The company also has first-rate employee-resource groups. Bank of America has a very young work force, with 45 percent of employees younger than 34.
No. 3: Sodexo, No. 6 in the DiversityInc Top 50. Also No. 3 in The DiversityInc Top 10 Companies for African Americans; No. 2 in The DiversityInc Top 10 Companies for Latinos; No. 1 in The DiversityInc Top 10 Companies for Executive Women; No. 9 in The DiversityInc Top 10 Companies for People With Disabilities; and No. 7 in The DiversityInc Top 10 Companies for LGBT Employees
At this company, which is always improving its efforts to create an inclusive work force, Blacks, Latinos, Asians and American Indians are 50 percent of the work force and 20 percent of senior managers (CEO and direct reports). Sodexo has a world-class mentoring program and the best metrics we've seen to assess diversity-recruitment success.
No. 4: Johnson & Johnson, No. 1 in the DiversityInc Top 50. Also No. 5 in The DiversityInc Top 10 Companies for Asian Americans; No. 2 in The DiversityInc Top 10 Companies for Executive Women; and No. 10 in The DiversityInc Top 10 Companies for LGBT Employees
The No. 1 company in the DiversityInc Top 50 this year, Johnson & Johnson has unbiased retention in its work force and management, meaning people are retained at equal levels based on race/ethnicity and gender. The company has made major efforts to create a best-in-class talent-development program and has first-rate work/life benefits.
No. 5: Target Corp., one of DiversityInc's 25 Noteworthy Companies. Also No. 2 in The DiversityInc Top 10 Companies for African Americans
In its first year making this list, Target demonstrates remarkable numbers in recruitment and management. Blacks, Latinos, Asians and American Indians are 43 percent of the work force and 50 percent of new hires. They also are 29 percent of managers and 24 percent of the top 10 percent highest-paid people in the company.
No. 6: JPMorgan Chase, No. 15 in the DiversityInc Top 50. Also No. 4 in The DiversityInc Top 10 Companies for African Americans
A long-time leader in the Human Capital diversity category, the bank has great benefits, including those for same-sex partners of employees. The company has extremely strong work/life programs, including a LifeWorks helpline providing guidance, referrals and crisis assistance; financial counseling; educational counseling; onsite blood pressure/cholesterol checks; disability counseling; time-management coaching; and career counseling.
No. 7: AT&T, No. 2 in the DiversityInc Top 50. Also No. 1 in The DiversityInc Top 10 Companies for African Americans and No. 8 in The DiversityInc Top 10 Companies for LGBT Employees
AT&T, which vaulted up the DiversityInc Top 50 list this year as it absorbed the mergers of several companies, has exemplary benefits and an increasingly inclusive corporate culture. Employees are 39 percent Black, Latino, Asian and American Indian, while new hires are 49 percent Black, Latino, Asian and American Indian, demonstrating significant progress.
No. 8: Wells Fargo & Co., No. 31 in the DiversityInc Top 50. Also No. 2 in The DiversityInc Top 10 Companies for LGBT Employees; No. 10 in The DiversityInc Top 10 Companies for Latinos; and No. 2 in The DiversityInc Top 10 Companies for Asian Americans
This bank, which this year absorbed another great diversity company, Wachovia, is excellent for talent development, especially for women, who are 53 percent of managers. Wells Fargo has excellent work/life benefits, including company-subsidized backup/emergency childcare; free access to LifeCare, a 24-hour service that helps team members find childcare, eldercare and dozens of other services; and free or discounted financial products and services. Wells Fargo also has first-rate benefits for same-sex partners of employees.
No. 9: Novartis Pharmaceuticals Corp., No. 20 in the DiversityInc Top 50. Also No. 8 in The DiversityInc Top 10 Global Diversity Companies
The company has unbiased retention for its employees and managers, meaning they are retained at equal levels regardless of race/ethnicity and gender. Novartis also has superb work/life benefits including floating religious holidays, paid time off for volunteering/community outreach/professional-association activities, and subsidized memberships in wellness or fitness facilities.
No. 10: Accenture, No. 23 in the DiversityInc Top 50. Also No. 10 in The DiversityInc Top 10 Global Diversity Companies
Accenture, which has been moving steadily up the DiversityInc Top 50 for the past two years, is a great example of a company with an increasingly inclusive culture. The 13 employee-resource groups include an Experienced Hire Networking Group, a Military Interest Group, a Men's Interest Group, an Abilities Access Network Interest Group, and a Work Life/Wellness Interest Group. Forty-eight percent of employees are members of these groups.
