best companies for multicultural women - working mother · best companies for multicultural women...

ExEcutivE Summary

Multicultural Women2014

Best Companies for

workingmother.com/wmri · 2

Since 2003, the purpose of the Working Mother Best Companies for Multicultural Women initiative has been to recognize American corporations that

create and use best practices in hiring, retaining and promoting women of color in order to ensure that a variety of perspectives are represented at every

level of management and decision-making.

Background on the Initiative


Each organization completed a detailed application covering both internal and external programs and activities that benefit multicultural women. The 2014 application included sections on the following:

n Representationn Hiring, Attrition and Promotionsn Recruitment, Retention and Advancement Programsn Company Culture

To qualify for this application, companies must have at least 500 U.S. employees.

Completed applications for the 2014 Working Mother Best Companies for Multicultural Women were collected online from August 30 to November 15, 2013.

Winning companies were selected from the pool of applicant companies and ranked numerically based on the data they provided in their applications.

Winners were announced in the June/July 2014 issue of Working Mother magazine.

Statistics reported are aggregated based on the data from the 25 winning companies.

Research Methodology

Source: 2014 Working Mother Best Companies for Multicultural Women workingmother.com/wmri · 4

Summary of 2014 Findings Notably, at the 2014 Best Companies for Multicultural Women, 9% of executives who report directly to the CEO are multicultural women, up from 5% last year.

Multicultural women represent 12% of the Best Companies’ top earners (defined as those among the top 20% of earners at the company); last year this number was 10%.

Sixty-four percent of Best Companies compensate managers on their diversity results, up from 60% last year.

Representation of multicultural women at the senior manager (8%) and corporate executive (4%) positions each increased one percentage point in the past year.

Total representation of multicultural women at all job levels (including non-manager, manager, senior manager and corporate executive) also increased one percentage point to 20% (from 19% in 2013).

Multicultural women received 13% of all promotions to manager and above at the Best Companies, down from 15% in 2013.

All Best Companies offer mentoring to multicultural women employees.

Ninety-two percent of Best Companies offer career counseling; 61% of female multicultural employees participate in career counseling at the Best Companies.


Top 5 Company* Fortune 500 CompanySource: 2014 Working Mother Best Companies for Multicultural Women

Congratulations to the 2014 Working Mother Best Companies for Multicultural Women!

allstate insurance*american Express*

automatic Data Processing*cisco*

citi*colgate-Palmolive*

Darden restaurants*Deloitte

Freddie mac*General mills*

Goldman Sachs*iBm*

JPmorgan chase & co.*

KPmGKraft Foods Group*New york Life insurance*Northern trustPepsico*Procter & Gamble*PwcSodexoState Farm*the Hartford Financial Services Group*verizon communications*Wal-mart Stores*


By the Numbers

The 2014 Working Mother Best Companies for Multicultural Women

employ more than

2.7 million workersin

7 industrieswith almost

32,000 worksitesacross

50 states.

Consumer Products(including Cosmetics, Food and Beverages)

Financial Services

Hospitality

Insurance

Professional Services, Management Consulting, Accounting

Retail and Apparel

Technology, Engineering, Aerospace


Multicultural women make up 20% of total employees at the Best Companies, while multicultural men represent 18% of the total workforce.

Total Workforce

Multicultural and White Women represent

52%of total employees

at the Best Companies

Multicultural and White Men represent

48%of total employees

at the Best Companies

Representation of Workforce

Multicultural Women 20%

Multicultural Men

18%

White Women 32%

White Men 30%


As multicultural women move up the corporate ladder, their representation shrinks significantly, even compared with that of their male multicultural peers.

The only employee group to gain representation as it advances to higher job levels is white men.

Representation by Job Level

Representation by Job LevelWhite men

Total Employees

Managers

Senior Managers

Corporate Executives

multicultural men White Women multicultural Women

30% 18% 32% 20%

41% 16% 29% 14%

53% 13% 26% 8%

65% 10% 21% 4%


Representation of multicultural women at the senior manager and corporate executive levels increases one percentage point this year after holding steady for the past four years.

Representation of Multicultural Women

Representation of Workforce by Job Level (Six-Year Trend)

Percentage of Corporate Executives who are Multicultural Women

Percentage of Senior Managers who are Multicultural Women

Percentage of Managers who are Multicultural Women

0%

15%

12%

9%

6%

3%

14%

7%

3%

14%

8%

4%

14%

7%

3%

13%

7%

3%

12%

7%

3%

12%

6%

4%

20122009 20132010 20142011


At the Best Companies, representation of multicultural women on boards of directors holds steady at 4% in 2014.

Board of Directors Membership

Representation on Board of Directors

2009 63% 15% 18%

2011 62% 16% 17%

2010 62% 16% 17%

2012 62% 16% 19%

2013

2014

58%

60%

16%

16%

22%

20%

4%

4%

4%

6%

5%

4%

White men multicultural men White Women multicultural Women


Multicultural women represent 9% of all executives who report directly to the CEO, up from 5% last year.

CEO Direct Reports

Representation of Direct Reports to CEO

73%

66%

9%

11%

9% 9%

18% 5%2013

2014



Representation of multicultural women executives with profit-and-loss responsibilities holds steady at 3%.

Profit & Loss Power

Representation of P&L Responsibilities

70%

69%

9%

9%

19%

19%

3%

3%

2013

2014



At the 2014 Best Companies, multicultural women represent 12% of the top fifth of earners versus last year’s 10%. By comparison, white men represent 39% of the top earners.

Top Earners

Top 20% of Earners by Representation

49%

39%

17%

19%

25%

30%

10%

12%

2013

2014



Women of color at the Best Companies for Multicultural Women receive 13% of all promotions to manager and above, down from 15% in 2013. By comparison, white men receive 42% of all promotions to manager and above.

Promotions

Promotions to manager and above

40%

42%

17%

17%

28%

28%

15%

13%

2013

2014



At the 2014 Best Companies, multicultural women represent, on average, 14% of all managers hired in the past year, 7% of senior manager hires and 4% of corporate executive hires. Representation of multicultural women improved at the corporate executive level and remained steady at the senior manager level, but decreased at the manager level.

Hiring

Representation of Hires by Job Level

Managers

Senior Managers


White men multicultural men White Women

37%

39%

21%

22%

25%

25%

15%

14%

56%

53%

17%

17%

20%

22%

7%

7%

70%

63%

16% 3%

4%17%

2014

2013

2014

2013

2014

2013


11%

16%


At the Best Companies, multicultural women are being hired into positions at all job levels at almost exactly the same rate at which they are leaving them.

To compare, Best Companies report that white women leave manager, senior manager and corporate executive positions at higher rates than they are hired into the same positions.

Attrition

Representation of Attrition by Job Level

40% 17% 29% 15%

41% 19% 27% 13%

53% 15% 26% 7%

53% 16% 24% 7%

69% 10% 20% 3%

62% 13% 21% 4%

Managers

Senior Managers


2014

2013

2014

2013

2014

2013



The Best Companies support initiatives specifically designed to recruit and retain multicultural women:

Recruitment & Retention

Professional associations specifically for multicultural women

2013 88%2014 96%

2013 88%2014 92%

2013 76%2014 84%

2013 88%2014 96%

2013 84%2014 88%

2013 68%2014 76%

Forums and events specifically for multicultural women

Professional development programs or classes for multicultural women

Special programs designed to retain multicultural women

Active task force or committee specifically for multicultural women

Outside recruiter/staffing company targeting multicultural women

0% 100%

Which of the following do you offer specifically for Multicultural Women?

Percentage of Best companies offering program


The Best Companies offer a wide array of programs specifically designed to promote the advancement of multicultural women.

All Best Companies train mentors, and 76% offer mentoring programs specifically geared towards younger multicultural women or those early in their careers.

Support for Advancement

Advancement programs offered at the 2014 Best Companies

0%

40%

20%

60%

80%

100%

Percentage of Best companies offering each programPercentage of multicultural Women who participated in each program

Network/Affinity GroupsMentoring Career Counseling Sponsorship Program

100%

18%

92%

61%

60%

17%

56%

10%


The Best Companies educate managers by offering them guidance on diversity and inclusion issues.

Manager Training

Gender diversity

Race/ethnic diversity

Generational diversity

Sexual orientation

Microinequities

Number of Best Companies that Offer Manager Education

22 21 22 22 20


Sixty-four percent of the 2014 Best Companies compensate managers on their diversity results, up from 60% of Best Companies last year. In addition, managers at the Best Companies are rated in the following ways.

Manager Accountability

Performance appraisal for managers includes employee satisfaction in regards to diversity issues as measured in

employee surveys

Formal compensation policies to reward

managers on diversity results

Formal compensation policies to reward

managers who help multicultural women

advance

Performance appraisal for managers includes

the number of multicultural women advancing for whom they are responsible

Performance appraisal for managers includes

feedback based on a 360-degree type

process in regards to diversity issues

Number of Best Companies that Appraise Managers on Advancing Multicultural Women

17 16 11 10 10


The 2014 Working Mother Best Companies for Multicultural Women offer the following internal and external communications to address issues that specifically concern multicultural women:

Communications

Percentage of Best Companies where internal communications (specified) note multicultural women concerns

0%

40%

20%

60%

80%

100%

Electronic messages

through e-mail, newsletters or

postings

New employee orientation

Internal video broadcasts

of executive speeches

88%92%

20142013

88%92%

20142013

80%

92%

20142013

Percentage of Best Companies where external communications (specified) note multicultural women concerns

0%

40%

20%

60%

80%

100%

Internet or intranet site

Recruiting materials

Press/media releases

96%100%

20142013

88%92%

20142013

72%76%

20142013

How do you rate in key areas like diversity & inclusion, women’s advancement and work life programs? The Working Mother Research Institute has the answer. With one of the most comprehensive databases available to corporate America, WMRI has the data you need to make the right decisions for both your employees and your bottom line.

To find out how your company rates, register today for one of our initiatives:◆ Working Mother 100 Best Companies◆ Working Mother Best Companies for Multicultural Women◆ Working Mother & Flex-Time Lawyers Best Law Firms for Women◆ NAFE Top Companies for Executive Women◆ Diversity Best Practices Benchmarking Tool

Participation is free and confidential.

Interested in learning more? Visit wmmsurveys.com today!

Interested in learning more? Contact Kristen Willoughby at [email protected] for more information today!

Custom AssessmentsLet our researchers do the assessment for you. Our experienced team will turn your benchmarking data into a turnkey presentation showing where your company leads and lags compared with the Best Companies.

BenchmarkingOur benchmarking reports offer the most detailed data available, showing how your company rates, question-by-question, against all of the Best Companies. Custom comparisons are also available.

ScorecardsEach participating company receives a free top-line summary of how it compares with all applicants across essential clusters of the initiative’s extensive application.

From flexibility and child care to the recruitment, retention and advancement of women, the Working mother research institute is dedicated to tracking and promoting the best practices of today while creating strategies for tomorrow.

Wmri’s goal is to give both working mothers and their employers the information they need to make workplaces truly family friendly.

Learn more at workingmother.com/wmri

Jennifer Owens, Editorial Director [email protected]

Krista Carothers, Senior Research Editor [email protected]

Kristen Willoughby, Senior Manager, Editorial & Research Initiatives [email protected]

Michele Siegel, Director of Research Initiatives [email protected]

Tierney O’Brien, Custom Insights Coordinator [email protected]

Contact Information

Learn more at workingmother.com/wmri

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