U.S. Headquarters: New York City
U.S. Employees: 8,882
Last Year’s DiversityInc Top 50 Ranking: Not in DiversityInc Top 50
Why It’s on the List
The insurance company moves on to the list with strong talent-development initiatives. Executive compensation is linked to D&I goals and 75 percent of the top level of the organization (CEO’s direct reports) are executive sponsors of resource groups. New York Life includes women, Blacks, Latinos and Asians in its formal succession plan and requires diverse slates of candidates for senior-executive openings.
The company has seven resource groups, available to all employees. The groups communicate regularly with each other. They are used for recruitment, on-boarding, talent development and community outreach. They provide feedback for all new diversity-training courses. They also are involved with the company’s mentorship program, which matches an experienced person with a less-experienced employee for one-on-one coaching.
The company has a strong commitment to multicultural philanthropy. Its partner organizations include the Congressional Hispanic Caucus Institute, the Congressional Black Caucus Foundation, the Lesbian, Gay, Bisexual & Transgender Community Center and the Center for Native American Youth.
New York Life has focused efforts to reach multicultural markets with its products, including the African-American, Asian-Indian, Chinese, Latino, Korean, Vietnamese and women’s markets.
Chairman and CEO
“Our success has always been built on the talent and dedication of the people who work here. Having a diverse and inclusive workplace not only produces the best possible results for our business and our customers, it enables all of our employees to reach their full potential.”
Vice President and Chief Diversity Officer
“New York Life is proud to be acknowledged by DiversityInc for our ongoing commitment to integrating diversity and inclusion strategy into every aspect of our daily business operations. We believe a diverse culture produces the best possible results for our employees, the people we serve, and the communities in which we live and work.”