The DiversityInc Top 10 Companies for Asian Americans
What makes a company the place where all talent, but in this case especially Asian-American talent, wants to work, stay and fulfill potential, including the ability to innovate? What type of corporate culture is open and inclusive? How do companies prevent Asian Americans from being siloed in technical jobs and ensure they have ample opportunities to assume leadership roles?
The companies on this particular list show consistent progress in their recruitment, retention and promotion of Asian-American employees, have active Asian-American employee-resource groups, and have strong talent-development initiatives. DiversityInc Top 50 Companies for Diversity data, on which this list is based, includes people from India under Asian Americans.
Here are some facts about The DiversityInc Top 10 Companies for Asian Americans:
- Their board of directors average 6.3 percent Asians, compared with 2 percent nationally (LEAP)
- Their top level of management (CEO and direct reports) is almost 5 percent Asian. There are nine CEOs of Fortune 500 companies who are of Asian descent, less than 2 percent
- They represent an average of 13.6 percent of their companies’ workforces, compared with 4.8 percent nationally (Bureau of Labor Statistics)
- They represent an average of 14.3 percent of managers in their companies, compared with 6.1 percent nationally (Bureau of Labor Statistics)
Here are facts about why each of these companies made the list:
No. 1: Deloitte
No. 8 in the DiversityInc Top 50. Also No. 8 in The DiversityInc Top 10 Companies for Latinos; No. 8 in The DiversityInc Top 10 Companies for Executive Women; No. 8 in The DiversityInc Top 10 Companies for People With Disabilities; No. 5 in The DiversityInc Top 10 Companies for Global Diversity
Deloitte’s workforce and management demographics for Asian Americans are the highest in its industry, including the most senior levels of the company. Deloitte has excellent employee representation in its Asian employee-resource group.
No. 2: Starwood Hotels & Resorts Worldwide
No. 34 in the DiversityInc Top 50. Also No. 10 in The DiversityInc Top 10 Companies for People With Disabilities
With a board of directors that’s 9 percent Asian and strong management representation of Asian Americans, Starwood stands out in the hospitality industry. Nonprofit relationships include the Organization of Chinese Americans and the National Society of Minorities in Hospitality.
No. 3: Johnson & Johnson
No. 6 in the DiversityInc Top 50. Also, No. 6 in The DiversityInc Top 10 Companies for Recruitment & Retention; No. 6 in The DiversityInc Top 10 Companies for Executive Women
With double-digit demographics of Asian Americans in its workforce and management, Johnson & Johnson also has a very active employee-resource group for Asian Americans.
No. 4: IBM Corp.
No. 7 in the DiversityInc Top 50. Also No. 3 in The DiversityInc Top 10 Companies for LGBT Employees; No. 1 in The DiversityInc Top 10 Companies for People With Disabilities; No. 1 in The DiversityInc Top 10 Companies for Global Diversity
Asian new hires are almost double the workforce demographics and representation in management overall is equally strong. IBM’s global mentoring and talent development is very sensitive to cultural nuances.
No. 5: PricewaterhouseCoopers
No. 3 in the DiversityInc Top 50. Also No. 1 in The DiversityInc Top 10 Companies for Recruitment & Retention; No. 2 in The DiversityInc Top 10 Companies for Executive Women; No. 6 in The DiversityInc Top 10 Companies for LGBT Employees; No. 3 in The DiversityInc Top 10 Companies for Global Diversity
PricewaterhouseCoopers has a high promotion rate for Asians in management, as well as a well-utilized employee-resource group for Asian Americans. The company communicates its commitment to Asian Americans as well as other groups clearly and consistently.
No. 6: Kaiser Permanente
No. 1 in the DiversityInc Top 50. Also No. 4 in The DiversityInc Top 10 Companies for Recruitment & Retention; No. 3 in The DiversityInc Top 10 Companies for Blacks; No. 2 in The DiversityInc Top 10 Companies for Latinos; No. 4 in The DiversityInc Top 10 Companies for Executive Women; No. 3 in The DiversityInc Top 10 Companies for People With Disabilities
Kaiser’s board is 14.3 percent Asian, and Asian Americans are almost a third of its managers, illustrating this company’s deep commitment to diverse leadership. Kaiser’s cuturally competent patient care offers many in-language and cultural nuances aimed at Asian Americans.
No. 7: Abbott
No. 24 in the DiversityInc Top 50
Abbott has a strong cross-cultural mentoring program and an active employee-resource group for Asian Americans, with a focus on talent development.
No. 8: American Express
No. 13 in the DiversityInc Top 50. Also No. 10 in The DiversityInc Top 10 Companies for Executive Women; No. 10 in The DiversityInc Top 10 Companies for LGBT Employees; No. 9 in The DiversityInc Top 10 Companies for Global Diversity
With a high rate of promotions in management going to Asian Americans, American Express has cutting-edge talent-development best practices, including full utilization of its employee-resource groups.
No. 9: Procter & Gamble
No. 25 in the DiversityInc Top 50. Also No. 9 in The DiversityInc Top 10 Companies for Recruitment & Retention; No. 5 in The DiversityInc Top 10 Companies for Latinos; No. 5 in The DiversityInc Top 10 Companies for Executive Women; No. 6 in The DiversityInc Top 10 Companies for People With Disabilities; No. 8 in The DiversityInc Top 10 Companies for Global Diversity
Its board of directors is 9 percent Asian, and P&G has good Asian-American representation at every level of management.
No. 10: Wells Fargo & Co.
No. 40 in the DiversityInc Top 50. Also No. 2 in The DiversityInc Top 10 Companies for LGBT Employees
The ratio of promotions into first management jobs compared with workforce demographics for Asian Americans is 2-to-1, which is unusual and an indicator of talent-development efforts. Wells Fargo also has a commitment to philanthropy in the community, including scholarships to the Asian and Pacific Islander Scholarship Fund.
12:06 pm
I see this focus on asian americans talent development in some companies like IBM/Kaiser prevent other minorities that meet this same criteria from being afforded the same opportunities since the managers and top ceo’s making the hiring decision fall under this category. Why not evaluate or assess how these companies do with talents with same qualification and background on a regular basis.
6:43 pm
Its interesting that there are firms devoted to asian development as a competitive advantage since the asian market in America is so small. I am curious if you have some insights into what industries are looking towards asian talent promotion as a competitive advantage. It seems that there is a strong emphasis placed by financial, healthcare, and consulting firms to promote asian inclusiveness. I am wondering if consulting firms are focused more on talent development versus perhaps the healthcare industries focus on global markets?