WHY IT’S ON THE LIST
Strangfeld signs off on executive compensation tied to diversity, meets with employee resource groups quarterly, and is a very visible supporter of the Newark, N.J., community where Prudential is headquartered. He is co-chair of the board of directors of the New Jersey Performing Arts Center. He and his wife, Mary Kay, also initiated and are sponsors of a recruitment and scholarship program for military officers seeking to transition into leadership roles in civilian life by getting an M.B.A.
The company emphasizes talent development and has formal succession planning for Blacks, Latinos, Asians, American Indians and women. The company has mandatory diverse slates for executive positions for both internal and external recruiters, requiring at least one woman and racial/ethnic minority to be interviewed for each opening. The requirement is being expanded to include veterans and people with disabilities.
Prudential has 14 employee resource groups, which it calls Business Resource Groups and Employee Network Groups. The groups have 75 chapters and subgroups in the United States. They have formal charters and are funded by the company. Business Resource Groups that submit a business case and rationale for targeted events and programs receive additional funding.
The groups’ success is measured by a twice yearly review of their performance in five critical areas—talent-sourcing support, professional development, business integration, community outreach and diversity awareness and education. Individual group leaders also are assessed by their contributions to the organization and feedback is provided to management.
Chairman and CEO
“Prudential views diversity and inclusion as an important area of focus among our employees, in the marketplace and in the communities where we live and work. Our talented and diverse employee base provides a competitive advantage and enables us to help our customers solve financial challenges today and for future generations to come.”
Vice President and Chief Diversity Officer
“D&I is integral to the strength of our talent, culture, business performance and identity. Beyond representation, the practice of inclusion reflects the reality that diverse vantage points lead to success in the workplace, marketplace and community. We are committed to the ongoing journey of creating an environment of involvement, respect and connection.”
U.S. Headquarters: Newark, N.J.
Global Employees: 47,355
U.S. Employees: 19,678
• In Top 50 every year since it started
• Strong CEO commitment
• Metrics to asssess resource-group performance
OTHER DIVERSITYINC LISTS
- No. 4 Top 10 Companies for Recruitment
- No. 9 Top 10 Companies for Mentoring