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10 Years of the Best Companies for Multicultural Women!

In the initiative’s first year, 2003, Working Mother only chose 3 Best Companies for Multicultural Women; a decade later, 25 companies have policies in place to make sure that women of color are hired, retained and promoted at high enough rates

to qualify for the award.

“We’ve built a dialogue that’s ongoing, that doesn’t stop, that influences women all over the country, that makes people comfortable talking about race and gender, that shifts the

culture of our companies, that joins with other dialogues and other voices and stories to impact the culture of our country.”

– Carol Evans, President, Working Mother Media

Congratulations to the 2012 Working Mother Best Companies for Multicultural Women!

Allstate Insurance

American Express*

AXA Equitable

CA Technologies

Chubb Group of Insurance Companies

Cisco*

Citi

Colgate-Palmolive

Deloitte*

Freddie Mac

General Mills*

Goldman Sachs

IBM

JPMorgan Chase

KPMG*

Macy’s

New York Life Insurance

The New York Times Company*

Northern Trust

PepsiCo

Procter & Gamble*

PwC*

State Farm Insurance*

Verizon Communications*

Walmart

* Top 10 Company 3

Source: 2012 Working Mother Best Companies for Multicultural Women

The Best Companies for Multicultural Women represent more than 2.5 million employees in

9 industries with some 24,000 worksites nationwide.

  Accounting   Consumer Products   Financial Services

  Insurance   Media, Internet and Advertising

  Professional Services   Retail

  Technology   Telecommunications

4 Source: 2012 Working Mother Best Companies for Multicultural Women

34% 30%

21% 15%

0%

25%

50%

75%

100%

Women Men

Caucasian Employees

Multicultural Employees

Total Workforce

Women represent 55% of total employees at the Best Companies

Men represent 45% of total employees at the Best Companies

• Multicultural women make up 21% of total employees at the Best Companies, while multicultural men represent 15% of the total workforce.

Representation of Workforce


30%

15%

34% 21%

40%

15%

31%

14%

54%

12%

27%

7%

69%

9% 20%

3% 0%

25%

50%

75%

100%

Caucasian Men Multicultural Men Caucasian Women Multicultural Women

Total Employees Managers Senior Managers Corporate Executives

Representation of Workforce by Job Level

Representation by Job Level

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

•  Caucasian men are the only employee group to gain representation as they advance in their careers.


Representation of Multicultural Women

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12% 12% 13% 14%

6% 7% 7%

7%

4% 3% 3%

3%

0%

5%

10%

15%

2009 2010 2011 2012

% of Multicultural Women Managers % of Multicultural Women Senior Managers % of Multicultural Women Corporate Executives

• Representation of multicultural women at the manager level increased one percentage point in the past year, while representation at the senior manager and corporate executive levels have held steady for the past three years.

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


62%

16% 19%

4%

75%

10% 13% 3%

0%

25%

50%

75%

100%


Best Companies for Multicultural Women Fortune 500 Representation on Boards of Directors

Board of Directors Membership

Source: 2011 Catalyst Census: Fortune 500 Women Board Directors

• At the Best Companies, multicultural women hold 4% of board seats, on average, vs. 3% across the Fortune 500.

• Membership on the board was more diverse at the Best Companies than at the Fortune 500 as they appointed more board seats to women and multicultural men, on average.


4% 5% 6% 4% 0%

25%

50%

75%

2009 2010 2011 2012

% of Caucasian Men on Board of Directors % of Multicultural Men on Board of Directors % of Caucasian Women on Board of Directors % of Multicultural Women on Board of Directors

• However, at the Best Companies, representation of multicultural women on the corporate boards of directors declined two percentage points in 2012 after a steady increase for the previous two years.

Representation on Boards of Directors (Four-Year Trend)

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Board of Directors Membership


Caucasian Women 15.1%

Multicultural Women 4.3%

Caucasian Men 72.7%

Multicultural Men 7.9%

Direct Reports to the CEO

Women represent

19.4% of the executives

who report directly to the CEO

at the Best Companies

• 4.3% of the executives who report directly to the CEO at the Best Companies are multicultural women, while 7.9% are multicultural men.

Direct Reports to the CEO


Caucasian Women 19.5%

Multicultural Women 2.8%

Men 77.7%

P&L Responsibilities

Women represent

22.3% of the executives

with P&L responsibilities at the Best Companies

• Of the executives with P&L responsibilities at the Best Companies, 2.8% are multicultural women.

• Women make up less than a quarter of all executives with P&L responsibilities.

Executives with P&L

Responsibilities


29.5%

13.1% 25.1%

12.5%

7.9%

2.7%

5.1%

1.7%

1.3%

0.4%

0.6%

0.1%

0% 5%

10% 15% 20% 25% 30% 35% 40% 45%


Promoted to Corporate Executive Promoted to Senior Manager Promoted to Manager

Representation of Promotions

*percentage of promotions by employee group represented out of total employees promoted to managers, senior managers or corporate executives

• At the Best Companies, multicultural women represented 14.3% of all management promotions, on average, last year. This represents an increase in promotions to multicultural women in the past year by one percentage point.

Promotions


38.7% of promotions* went

to Cauc. Men


to MC Men

30.8% of promotions* went to Cauc. Women


to MC Women

22% 22% 22% 22%

0%

10%

20%

30%

40%

2009 2010 2011 2012

% of employees who left that are Caucasian Men % of employees who left that are Multicultural Men

% of employees who left that are Caucasian Women % of employees who left that are Multicultural Women

Attrition

*includes non-manager, manager, senior manager, and corporate executive (exempt and non-exempt) who left

• At the Best Companies, the attrition rate of multicultural women has held steady for the past four years while the attrition rate of multicultural men has decreased, falling to 17% after three years of being stable.

Representation of Attrition* (Four-Year Trend)


30%

15%

34%

21%

40%

16%

30%

14%

43%

15%

30%

13%

0%

25%

50%

75%


Total Employees Top 20% Earners Top 10% Earners

Top Earners • At the Best Companies, multicultural women make up 14% of all top earners,

which is a significant increase over last year’s 11% representation.

Representation of Top Earners


44%

60%

72%

80%

72%

80%

88%

92%

0% 25% 50% 75% 100%

Active task force or committee specifically for multicultural women/men

Professional development programs or classes for multicultural women/men

Special programs designed to retain multicultural women/men

Specific recruitment initiatives for multicultural women/men, not including outside recruiters

Multicultural Women Multicultural Men

Percentage of Best Companies offering program

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

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

Recruitment & Retention


44%

52%

60%

72%

44%

68%

68%

72%

0% 25% 50% 75% 100%

Sponsorship

Affinity/Network Groups

Mentoring

Career Counseling

Multicultural Women Multicultural Men

Percentage of Best Companies offering program

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

Advancement Programs


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

• 88% of the Best Companies offer mentoring programs specifically geared towards younger multicultural women or those early in their careers.

Recruitment

•  Connect with professional or school organizations for multicultural women •  Utilize employee resource groups/networks to recruit new employees

•  Advertise recruitment in magazines/media used by multicultural women

•  Sponsor recruitment events that cater to multicultural women •  Post job opportunities on career websites geared towards multicultural women

•  Host recruitment events specifically for multicultural women •  Recruit using social media

Number of Best Companies that:

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21

20

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•  The Best Companies try to attract high-level multicultural talent in numerous ways.


Manager Training

•  Race/ethnic diversity

•  Generational diversity •  Gender diversity

•  Sexual orientation

•  Microinequities (i.e., unconscious filters or bias)

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24 Number of Best Companies that Offer Training In:

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

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21

20


100% 91% 88% 86% 83%

26% 19% 25% 36%

23%

0%

25%

50%

75%

100%

Microinequities Generational Diversity Race/Ethnic Diversity Sexual Orientation Gender Diversity

Best Companies* that offer education to all employees Percentage of employees that participated in education

Percentage of Best Companies* that offer education to all employees and rates of participation

Diversity Education

*data reflect only those companies that offer each education program 19

• All Best Companies offer diversity/sensitivity education for their employees, with 76% of the winners offering such education three or more times a year.


36%

44%

44%

72%

84%

0% 25% 50% 75% 100%

Formal compensation policies to reward managers who help multicultural women advance

Managers rated on feedback based on 360-degree type process (multi-source feedback) in regards to diversity issues

Managers rated on number of multicultural women advancing for whom they have managerial responsibilty

Managers rated on employee satisfaction in regards to diversity issues measured in employee surveys

Managers rated on managing diversity issues

2012 Working Mother Best Companies for Multicultural Women

Manager Accountability • 84% of the Best Companies have performance appraisal objectives for

managers that include managing diversity issues. • Managers at the Best Companies are rated in the following manners:

Percentage of Best Companies that support these programs/policies 20

Manager Rating at the Best Companies


Research Methodology The Working Mother Best Companies for Multicultural Women are selected based on their answers to 391 questions on the 2012 application, which covers the follow topics:

  Company Profile

  Representation Female Representation Male Representation Top Earners Board of Directors

  Hiring, Attrition and Promotions Hiring Losses & Attrition Promotions & Advancement

  Recruitment, Retention & Advancement Use of Internal/External Recruitment Retention Programs Diversity Task Forces Affinity Groups Mentoring/Sponsorship Career Counseling Management & Leadership Training Networking Succession Planning Tuition Reimbursement

 Company Culture Manager Accountability Diversity-Related Benefits and Policies Employee Diversity Surveys Grievance Policies Internal & External Communication External Diversity Activities Philanthropic Giving

  Best Practices Essay

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Research Methodology

•  Completed applications for the 2012 Best Companies for Multicultural Women were collected online from September 23 to December 2, 2011.

•  To qualify, companies must have at least 500 U.S. employees. •  Winning companies were selected from a pool of applicant companies

and ranked numerically based on the data they provided in their applications.

•  Winners were selected based on these applications and were announced in the June/July 2012 issue of Working Mother magazine and on workingmother.com/bestcompanies.

•  Statistics outlined in this report are aggregated based on the data from the 25 winning companies.

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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.

Interested in learning more? Visit wmmsurveys.com today!

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 Best Companies for Hourly Workers

•  NAFE Top Companies for Executive Women •  NAFE & Flex-Time Lawyers Best Law Firms for Women

•  Diversity Best Practices

Participation is free and confidential.

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

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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 also creating marching orders for tomorrow. WMRI's goal is to give both working mothers and their

employers the information they need to be truly family friendly.

Learn more at workingmother.com/research-institute

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Learn more at workingmother.com/research-institute

Jennifer Owens, Editorial Director [email protected]

Krista Carothers, Senior Research Editor [email protected]

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

Michele Siegel, Senior Manager, Research Initiatives [email protected]

Kaisa Filppula, Primary Research Associate [email protected]

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Registration for the 2013 Working Mother

Best Companies for Multicultural Women

is now open at

www.wmmsurveys.com

Survey Opens Survey Closes

Diversity Best Practices Assessment & Benchmarking Tool April 2012 June 2012

2013 Working Mother Best Companies for Hourly Workers June 2012 September 2012

2013 NAFE Top 50 Companies for Executive Women July 2012 September 2012

2013 Working Mother Best Companies for Multicultural Women August 2012 November 2012

2013 Working Mother 100 Best Companies December 2012 March 2013

2013 NAFE & Flex-Time Lawyers Best Law Firms for Women January 2013 April 2013

Upcoming Schedule

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