Diversity MBA Magazine - April 2008 - (Page 18) TOP 50 COMPANIES — 2–50 2 Verizon Communications Inc. New York, NY 235,000 Employees www.verizon.com One of the world’s leading communications companies, Verizon is an undisputed leader in diversity. Women and minorities make up 43% and 30%, respectively, of its workforce, and hold 32% and 19%, respectively, of its top management positions. Its internal diversity program concentrates on fostering a high-performance culture of inclusion, with respect and zero tolerance of discrimination. Verizon uses diversity councils and affinity groups to promote its diversity management process, and has established mentoring programs. Partnerships with professional organizations, historically Black colleges and universities (HBCUs}, Hispanic-serving institutions and others help expand its outreach, and ensure attracting a diverse workforce. Verizon’s multicultural sales and solution centers support language-specific services. Targeted TV, radio, print, and promotional campaigns have culturally relevant themes. The Verizon Foundation targets millions in philanthropic contributions to diverse communities. A charter member of the Billion Dollar Roundtable, Verizon spends over $2 billion annually with diverse suppliers. Diverse financial-services firms manage over $2 billion of the firm’s assets. 4 Allstate Corp. Northbrook, IL 70,000 employees www.allstate.com Allstate, the country’s largest publicly held personallines insurer, considers diversity part of all of its activities. Nearly 30% percent of its employees are minorities and 59.2% are women. Diversity training is provided to all employees, and an annual employee survey measures employee perceptions on diversity and the work environment. Diversity is regularly highlighted in Allstate publications, videos and employee meetings. The company integrates affirmative action into succession management, recruitment and leadership development, and its senior leadership is held accountable for affirmative action results via performance management. In its recruiting efforts, Allstate works closely with higher education institutions that have a diverse student enrollment. Its executives also take active roles on the boards of some of these institutions. Its Corporate Diversity Council is dedicated to integrating diversity with its business strategy. The company has been recognized for its efforts by Fortune, Working Mother and Hispanic magazines. 5 JPMorgan Chase & Co. New York, NY/Chicago, IL 170,000 employees www.jpmorganchase.com JPMorgan is a leading global financial services firm with assets of $1.6 trillion that operates in over 50 countries. 39.6% of its employees are minorities, with 8.9% at the executive/senior level, and 59.4% are women, with 24.7% at the executive/senior level. CEO Jaime Dimon chairs JPMorgan’s Corporate Diversity Council, and in 2007 appointed a Diversity recruiting executive, reporting to him, to focus on hiring and retaining diverse talent at the mid-and senior levels. Each business division has a diversity action plan, and a diverse slate of candidates is required for all job openings. JPMorgan maintains a website that serves as a portal for information on diversity and inclusion. JPMorgan actively recruits from HBCUs. Employees are invited to join networking groups, funded by the firm. It offers workforce diversity training through classes, seminars, webinars, special events and online training, and hosts management development events, such as its annual Black Leadership Forum. 3 Wal-Mart Stores Inc. Bentonville, AK 1.3 million employees www.walmart.com As the world’s largest retailer, Wal-Mart puts having a diverse workforce among its top priorities. It currently has among its associates approximately 154,000 Hispanics, 237,000 Blacks, 41,000 Asians, 15,000 Native Americans, 256,000 55 and older, and over 826,000 women. Its 15-member board of directors includes three women, two Blacks and two Hispanics. Females (40%) and minorities (23%) make up over half its officials and managers. Wal-Mart’s Office of Diversity ensures diversity in associate programs, placement efforts, supplier relations, philanthropic initiatives, and community engagement. In 2003, Wal-Mart introduced leadership seminars specifically for women, and in 2004, added seminars for people of color. Officer compensation is linked to attracting/hiring/retaining qualified diversity associates; officers not meeting their individual diversity goals have their bonuses reduced by up to 15%. Wal-Mart actively recruits talent from colleges and universities with significant populations of diverse students. The company received the Spirit of Excellence Corporate Award from the American Bar Association for its legal diversity initiative. 6 Metropolitan Life Insurance Co. (MetLife Inc.), New York, NY 49,000 employees (E) www.metlife.com MetLife remains focused on activities that advance its commitment to diversity in the workforce, workplace and marketplace. Each department develops w w w. d ive r s it y mb a ma g a z in e. c o m 18 http://www.verizon.com http://www.allstate.com http://www.jpmorganchase.com http://www.walmart.com http://www.metlife.com http://www.diversitymbamagazine.com
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