Representing more than 2.6 million employees in nine industries at over 44,000 worksites nationwide, Working Mother Media’s 2011 Best Companies for Multicultural Women are leading by example—from the corner office to the cubicle. With initiatives like managerial performance reviews and manager compensation tied to multicultural women’s advancement, these companies hold managers accountable for recruiting, retaining and promoting multicultural women.
Ninety-one percent of this year’s honorees appraise manager performance based on diversity issues, and 40 percent of companies attach multicultural women’s advancement to managerial compensation. While white men in executive level positions still outnumber minority women 16 to 1, the Best Companies for Multicultural Women are creating change that starts from the top.
“With the hiring of multicultural women outpacing losses for the fourth year in a row, the Best Companies for Multicultural Women are proactively cultivating a workforce that takes advantage of our country’s diverse cultural make-up,” said Carol Evans, President, Working Mother Media. “By implementing strategic programs and practices to support talented multicultural women on their path to success, this year’s Best Companies for Multicultural Women are employing a full-court press to ensure the success of their businesses.”
In addition to manager accountability, 87 percent of the Best Companies for Multicultural Women offer programs to help multicultural women chart a course of action within the company culture. First-time winner Macy’s helps multicultural women climb the corporate ladder by offering training, mentoring and career counseling. Even the CEO, Terry Lundgren, and his eleven direct reports are rated on diversity in their annual review.
What’s more, 61 percent of the winning companies offer career counseling specifically for women of color. PepsiCo, a five-time honoree, bridges the gap between mentor and mentee with a program called PowerPairs, which matches women of color with managers, typically white males, so that they can openly discuss goals, expectations and thinking styles.
The top five Working Mother 2011 Best Companies for Multicultural Women—Cisco, Deloitte, General Mills, IBM and Procter & Gamble—employ hallmark policies to ensure multicultural women’s advancement, including:
- Mentoring programs that include job shadowing opportunities for cross-functional exposure targeted to multicultural women employees
- Career counseling and guidance from senior leaders to female multicultural employees to help orchestrate career plans, gain access to key assignments and enhance their knowledge of what it takes to advance
- Executive diversity groups to grow knowledge of inclusion practices
- Regional conferences to actively seek out female professionals and underrepresented minorities
- Diversity and inclusion goals built into managers’ performance objectives
“The Best Companies for Multicultural Women are encouraging cultural inclusiveness outside of the nine- to-five spectrum as well, donating a total of $538 million to organizations that promote diversity,” said Jennifer Owens, Director, Working Mother Research Institute. “Efforts like these set the standard for a better work environment and a stronger bottom line.”
The 2011 Best Companies for Multicultural Women (in alphabetical order):
- Allstate Insurance, Northbrook, IL
- American Express, New York, NY
- CA Technologies, Islandia, NY
- Chubb Group of Insurance Companies, Warren, NJ
- *Cisco, San Jose, CA
- Citi, New York, NY
- Colgate-Palmolive, New York, NY
- *Deloitte, New York, NY
- *General Mills, Minneapolis, MN
- Goldman Sachs, New York, NY
- *IBM, Armonk, NY
- JPMorgan Chase, New York, NY
- KPMG, New York, NY
- Macy’s Inc., Cincinnati, OH
- McDonald’s USA, Oak Brook, IL
- New York Life Insurance, New York, NY
- PepsiCo, Purchase, NY
- PricewaterhouseCoopers, New York, NY
- *Procter & Gamble, Cincinnati, OH
- Sodexo, Gaithersburg, MD
- State Farm Insurance, Bloomington, IN
- Verizon Communications, New York, NY
- Walmart, Bentonville, AR
*Denotes Top 5 Best Companies for Multicultural Women
First-time honorees include CA Technologies, Macy’s and New York Life Insurance. Veteran honorees include American Express and IBM (nine years); Allstate Insurance and General Mills (eight years); JPMorgan Chase and PricewaterhouseCoopers (seven years); Deloitte, Procter & Gamble and Verizon Communications (six years); and PepsiCo, Citi and Walmart (five years).
Working Mother will honor each of the Best Companies for Multicultural Women at the ninth annual Multicultural Women’s National Conference in New York City on July 19-20. This two day national conference, titled “Engage. Influence. Lead.” will build on Working Mother Media’s history of hosting and facilitating a national conversation about where race and gender meet in the workplace.
The 2011 Best Companies for Multicultural Women is chronicled in the June/July 2011 issue of Working Mother magazine. Extended coverage can be found at workingmother.com. Working Mother Media is a division of global media company Bonnier Corporation.
Best Companies for Multicultural Women Methodology: To be considered for Best Companies for Multicultural Women, each company applied and supplied Working Mother with 2010 data about the hiring, pay and promotion of multicultural employees. The application focused on representation of multicultural women; recruitment; retention and advancement programs; and company culture. An independent survey research firm tabulated the scores.
About Working Mother Media
Working Mother magazine reaches 2.2 million readers and is the only national magazine for career-committed mothers; WorkingMother.com (www.workingmother.com) gives working mothers @home and @work advice, solutions, and ideas. This year marks the 26th anniversary of Working Mother’s signature research initiative, Working Mother 100 Best Companies, and the ninth year of the Best Companies for Multicultural Women. Working Mother Media, a division of Bonnier Corporation (www.bonnier.com), includes the National Association for Female Executives (NAFE, www.nafe.com), Diversity Best Practices (www.diversitybestpractices.
Working Mother magazine reaches 2.2 million readers and is the only national magazine for career-committed mothers; WorkingMother.com (www.workingmother.com) gives working mothers @home and @work advice, solutions, and ideas. This year marks the 26th anniversary of Working Mother’s signature research initiative, Working Mother 100 Best Companies, and the ninth year of the Best Companies for Multicultural Women. Working Mother Media, a division of Bonnier Corporation (www.bonnier.com), includes the National Association for Female Executives (NAFE, www.nafe.com), Diversity Best Practices (www.diversitybestpractices.
No comments:
Post a Comment