WHY IT’S ON THE LIST
- Blacks, Latinos and Asians in Senior Leadership: 16.9% higher than the Top 10, 43.2% higher than the Top 50 and nearly 65% higher than U.S. companies overall
- Supplier Diversity: 16.7% higher than the Top 10 and 34.3% higher than the Top 50 on prime suppliers who are women owned
- Mentoring by CEO and direct reports: 18.6% higher than the Top 10 and nearly 50% higher than the Top 50
The level of engagement among top executives at Abbott may be the secret weapon in why Abbott maintains a strong diversity showing.
The company links executive compensation to diversity metrics, and that includes everything from overall corporate diversity targets to individual goals such as being an executive sponsor of an employee resource group or a cross-cultural mentor.
And no one gets a mentoring pass. Executives at the top three levels of the company, including the CEO, all participate in a formal mentoring program. Mentors receive cultural-awareness training, and the pairings are designed to be cross-cultural. Abbott also has formal sponsorship for high-potential employees from underrepresented groups.
The CEO also personally signs off on goals and achievements for supplier diversity, and the company requires its direct vendors to mandate diversity among the suppliers they work with.
In addition, the company’s board of directors receives a presentation of supplier and diversity results at least once a year.
The company maintains it values “diversity of people, products, technologies and geographies — and believe[s] that diverse perspectives and shared goals inspire new ideas and better address changing healthcare needs.”
Chairman and CEO
“The business case for a diverse workplace is clear: companies with more diversity among their people think more creatively and adapt more quickly to changing markets. We’re a global company; we need a wide diversity of ideas and perspectives to understand the people we serve and be relevant to their lives.”
Divisional Vice President, Global Talent Acquisition
“At Abbott, our talent is our greatest business asset, and we see diversity as core to our success. It’s not about numbers, but the people whose perspectives and contributions are formed from a lifetime of diverse experiences. This is how we inspire and capture the innovation that drives our global business success.”
Abbott Park, Ill.
Last Year’s DiversityInc Top 50 Ranking • No. 14
No. 4 Global Diversity
No. 5 Diversity Councils
No. 7 Supplier Diversity
No. 15 Mentoring