WHY IT’S ON THE LIST
New York Life uses robust talent-development initiatives to keep its workforce engaged. It uses its employee resource groups to identify and nurture management talent. The groups also assist with the on-boarding process for new employees and with diversity-training initiatives. The company communicates the benefits of the resource groups, and participation nearly doubled from one year ago.
The company has a formal, cross-cultural mentoring program and ensures that mentors are trained on cultural awareness. Mentoring relationships are formally evaluated every six months, and formal follow-up and measurable goals are used to assess success. For its high-potential employees from underrepresented groups, New York Life has formal sponsorship and the company communicates opportunities for them in senior-level meetings. All of its top-level executives (CEO and direct reports) participate in mentoring.
New York Life’s work/life benefits include telecommuting, alternative career tracks for parent with long-term family-care issues, and paid time for volunteer and professional-association activities. It uses LifeCare to provide free educational materials and personalized referrals.
Chairman, President and CEO
“A diverse organization is rich with different perspectives, ways of approaching our work and, above all, opportunities. It’s open. It’s flexible. It’s respectful. That’s what being diverse and inclusive means to us. Beyond valuing the differences among people such as ethnicity, gender, religion, disability or sexual orientation, diversity at New York Life produces the best possible results for our people, our business and our community. And that just makes us stronger.”
Vice President and Chief Diversity Officer
“In order to achieve success in today’s marketplace, diversity and inclusion must be integrated into every aspect of a company’s daily business operations. Companies that align diversity programs with corporate strategies—while ensuring they have a diverse workforce to maximize innovative thinking and reflect their customer base—will be in a position to gain a competitive advantage.”
U.S. Headquarters: New York City
Global Employees: 10,855
U.S. Employees: 9,036