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What makes a company a leader in human capital? Using effective diversity-management techniques to recruit, develop and retain the most diverse talent possible to yield innovative solutions in a competitive market.
The companies selected below show the most progress in bringing in new talent that’s diverse in every way, retaining that talent and promoting people of all races/ethnicities, genders, orientations and physical abilities.
A few facts about The DiversityInc Top 10 Companies for Recruitment & Retention and why they stand out:
- Their work forces are younger than the DiversityInc Top 50; 36 percent of workers are 34 or younger vs. 31 for the DiversityInc Top 50
- Women make up far more of their senior managers (CEO and direct reports) than the DiversityInc Top 50: 32 percent vs. 24 percent. Nationally, according to Catalyst research, women are 13.5 percent of all managers
- Women are 36 percent of the top 10 percent highest-paid employees at these 10 companies vs. 33 percent of the DiversityInc Top 50
- All of these companies have active programs to recruit LGBT employees and employees with disabilities vs. 84 percent and 96 percent for the DiversityInc Top 50, respectively
Here are the rankings and one factor that made each company stand out:
No. 1: Sodexo
Also No. 1 in the DiversityInc Top 50; No. 3 in The DiversityInc Top 10 Companies for Blacks; No. 2 in The DiversityInc Top 10 Companies for Latinos; No. 10 in The DiversityInc Top 10 Companies for People With Disabilities; No. 1 in The DiversityInc Top 10 Companies for Executive Women; No. 5 in The DiversityInc Top 10 Companies for Global Diversity
Sodexo’s Spirit of Mentoring program is an example for all organizations of a focused, practical and extremely comprehensive mentoring effort that includes advance training and benchmarks at regular intervals to examine how mentoring pairs are relating to each other and accomplishing goals. It has had significant results in its management demographics.
No. 2: Ernst & Young
Also No. 5 in the DiversityInc Top 50; No. 10 in The DiversityInc Top 10 Companies for Executive Women; No. 1 in The DiversityInc Top 10 Companies for LGBT Employees; No. 2 in The DiversityInc Top 10 Companies for People With Disabilities
The company’s demographics at all levels reflect its commitment to hiring people of all races and ethnicities as well as women, LGBT people and people with disabilities. Strong and innovative work/life benefits include four additional weeks of family leave, lactation consulting, childcare reimbursement, backup childcare and adult-care services, and personal-finance planning.
No. 3: American Express
Also No. 12 in the DiversityInc Top 50; No. 7 in The DiversityInc Top 10 Companies for Asian Americans; No. 8 in The DiversityInc Top 10 Companies for Global Diversity; No. 8 in The DiversityInc Top 10 Companies for LGBT Employees
American Express has a variety of flexible work options, which extends globally as it creates an inclusive culture for parents and others with work/family needs to be effective employees. This has resulted in significant recruitment and retention gains, especially for women.
No. 4: Bank of America
Also No. 9 in the DiversityInc Top 50; No. 4 in The DiversityInc Top 10 Companies for Supplier Diversity; No. 9 in The DiversityInc Top 10 Companies for Executive Women; No. 2 in The DiversityInc Top 10 Companies for LGBT Employees
Bank of America is a longtime leader in recruitment and retention, especially of women and LGBT employees. The bank has always been a trendsetter in work/life policies, and its current roster of benefits includes retirement transition, paid time off for volunteering/community outreach/professional activities, onsite religious accommodations, reimbursement for both formal and informal childcare expenses, tuition reimbursement, a commuter benefit program, and free and confidential referrals for dependent-care needs.
No. 5: PricewaterhouseCoopers
Also No. 6 in the DiversityInc Top 50; No. 4 in The DiversityInc Top 10 Companies for Asian Americans; No. 2 in The DiversityInc Top 10 Companies for Executive Women; No. 4 in The DiversityInc Top 10 Companies for LGBT Employees; No. 2 in The DiversityInc Top 10 Companies for Global Diversity
It’s no wonder this Big Four firm has excellent employee retention, especially of women. PricewaterhouseCoopers remains the leader on work/life benefits, reflected in its inclusive corporate culture and its ability to retain and develop talented employees. Its cutting-edge benefits include its Mentoring Moms program, in which mothers-to-be get a mentor who has already been through the ropes and who helps them ease the transition back to work.
No. 6: AT&T
Also No. 3 in the DiversityInc Top 50; No. 6 in The DiversityInc Top 10 Companies for Supplier Diversity; No. 2 in The DiversityInc Top 10 Companies for Blacks; No. 9 in The DiversityInc Top 10 Companies for LGBT Employees
The company has an increasingly diverse workforce and management, and it more than does its part to ensure the educated U.S. workforce maximizes all potential. AT&T’s $100-million commitment to Aspire, to stem the dropout rate of primarily Latino and Black youth, is an example to all of corporate America. The company has vibrant partnerships with leading LGBT, Latino, Asian and Black organizations.
No. 7: Johnson & Johnson
Also No. 2 in the DiversityInc Top 50; No. 1 in The DiversityInc Top 10 Companies for Asian Americans; No. 3 in The DiversityInc Top 10 Companies for Executive Women
The company has diverse demographics in its workforce and management and has superior work/life benefits, including: retirement transition; paid time off for volunteering; a work/life resource and referral program; eldercare and adult-management services; childcare discounts, resources and referrals and onsite daycare; resources for parenting and grandparenting; and health-risk assessments and referrals.
No. 8: Merck & Co.
Also No. 13 in the DiversityInc Top 50; No. 9 in The DiversityInc Top 10 Companies for People With Disabilities; No. 9 in The DiversityInc Top 10 Companies for Global Diversity
The work/life benefits at Merck are exemplary and offer results in its demographics. Benefits include flexible hours, onsite religious accommodations, subsidized membership in wellness/fitness facilities, a caregiver web site, an eldercare program, and college webinars and counseling. The company is a leader in its outreach to people with disabilities and the LGBT community.
No. 9: Target Corp.
Also No. 40 in the DiversityInc Top 50; No. 10 in The DiversityInc Top 10 Companies for Blacks
Target has worked hard to build an inclusive culture and has a very diverse work force and management. The retailer has an exemplary mentoring program with a strong cross-cultural component and 90 percent of managers participating.
No. 10: Novartis Pharmaceuticals Corp.
Also No. 16 in the DiversityInc Top 50; parent company Novartis AG is No. 7 in The DiversityInc Top 10 Companies for Global Diversity
The U.S. operations, whose demographics are measured for the DiversityInc Top 50, show an increasingly diverse work force and management in terms of race/ethnicity and gender.
Novartis Pharmaceuticals Corp. has exceptional benefits and mandatory diversity training for its entire work force, held every month for more than a day. The company has a strong formal mentoring program with a cross-cultural component.
Which companies do you find are friendlikest to the “older” worker. It has been my experience over the more then 20 years in the recruitment field that age descrimination is prevelent in our culture.
Do you see any change in this area. If so, please compile a list of those companies that welcome the “seasoned” employee in management roles.
The practices cited overwhelmingly describe efforts to understand, appreciate, and accommodate differences. I wonder if and how these companies address issues of unconscious bias and white (dominant culture) privilege. Do any of your surveys capture these dynamics, which can interfere with development of greater justice and less discrimination? Do you most progressive firms first establish “valuing differences” before delving into the stickier topics that often drive exclusionary behavior and unjust outcomes?