By the Editors of DiversityInc

© DiversityInc 2007 ® All rights reserved. No article on this site can be reproduced by any means, print, electronic or any other, without prior written permission of the publisher.

 

1. Bank of America
2. Consolidated Edison Company of New York
3. AT&T
4. Pepsi Bottling Group
5. The Coca-Cola Co.
6. JPMorgan Chase
7. Xerox
8. Verizon
9. Procter & Gamble
10. Blue Cross and Blue Shield of Florida

Companies today are engaged in a war for talent. As the work force becomes more racially diverse (whites will become a minority in this country by 2050, according to census estimates), smart companies are aggressively finding ways to recruit and retain talented people of color, women, GLBT people and people with disabilities. What makes a company stand out in this area? Take a look at the 2007 Top 10 Companies for Recruitment & Retention (R&R).

Here are some key points about the 2007 Top 10 for Recruitment & Retention

·         The Top 10 R&R hire 45 percent people of color; the U.S. work force is 29 percent people of color (Bureau of Labor Statistics)

·         Twenty-seven percent of Top 10 R&R companies' management are people of color, compared with 12 percent people of color in management nationwide (Bureau of Labor Statistics)

·         The Top 10 all demonstrate almost equal retention of the entire work force and management, regardless of race/ethnicity and gender

·         Ninety percent of the Top 10 for R&R have a resource group for GLBT employees

·         Seventy percent of the Top 10 for R&R's nondiscrimination policies include gender identity, compared with 24 percent of the Fortune 500 companies (Human Rights Campaign, 2006)

Methodology for this list

As with all the nine specialty lists, the basis for this list was questions—in this case, many of the Human Capital questions—on The 2007 DiversityInc Top 50 Companies for Diversity^® survey. All demographic categories were broken down by race/ethnicity and gender and we also examined men and women separately by race and ethnicity. For the first time this year, we added Native Americans to all demographic categories, which already are broken down for whites, blacks, Latinos and Asians. For recruitment, we looked at the percentage of new hires versus the work force in each demographic category, as well as demographics for all managers and professionals and in three individual levels: CEO and direct reports, direct reports to those direct reports, and all remaining managers. We compared current management demographics to rate of promotions and we also examined the top 10 percent highest-paid employees by race/ethnicity/gender. In addition, we looked at active plans to recruit GLBT people and people with disabilities.

For retention, companies must demonstrate level rates across race/ethnicity and gender in both the work force and the management ranks.

The Top 10:

No. 1: Bank of America

Also No. 1 on The 2007 DiversityInc Top 50 Companies for Diversity list, No. 3 for Latinos, No. 8 for Asian Americans, No. 1 for Executive Women, No. 3 for GLBT Employees and No. 6 for Supplier Diversity.

The No. 1 company on the Top 50 this year, Bank of America has steadily increased its rank every year since the survey started in 2001. The company is a national leader in diversity in the workplace. Forty-four percent of its work force is people of color, compared with 34 percent for the Top 50. Fifty-five percent of new hires are people of color, compared with 42 percent for the Top 50. Fifty-two percent of women in management received promotions, compared with 34 percent of the Top 50.

No. 2: Consolidated Edison Company of New York

Also No. 8 on The 2007 DiversityInc Top 50 Companies for Diversity list, No. 1 for Latinos, No. 4 for Executive Women, and No. 5 for Supplier Diversity.

Twenty-five percent of the board of directors is people of color, compared with 18 percent for the Top 50. Thirty-one percent of managers are people of color, compared with 25 percent for the Top 50. And of women promoted in management, 59 percent are people color, compared with 31 percent for the Top 50.

No. 3: AT&T

Also No. 3 on The 2007 DiversityInc Top 50 Companies for Diversity list and No. 1 for African Americans.

A longtime human-capital leader, AT&T has successfully combined the diversity strengths of SBC, BellSouth and Cingular, all former Top 50 companies. Fifty percent of new hires are people of color, compared with 52 percent for the Top 50. And 42 percent of women in management received promotions, compared with 34 percent for the Top 50.

No. 4: Pepsi Bottling Group

Also No. 2 on The 2007 DiversityInc Top 50 Companies for Diversity list, No. 7 for African Americans, No. 2 for Latinos, and No. 10 for Executive Women.

This company, which made resurgence on the Top 50 list this year, coming in at No. 2, has emerged as a formidable diversity leader, particularly in Human Capital. Thirty-six percent of their board is women, compared with 19 percent for the Top 50. And 48 percent of new hires are people of color, compared with 42 percent for the Top 50.

No. 5: The Coca-Cola Co.

Also No. 4 on The 2007 DiversityInc Top 50 Companies for Diversity list and No. 6 for Asian Americans.

This amazing company, which came back from the largest race-discrimination suit in U.S. history to become a national diversity leader, is especially strong in Human Capital. Thirty-two percent of managers are people of color, compared with 25 percent for the Top 50. And 52 percent of women in management received promotions, compared with 34 percent for the Top 50.

No. 6: JPMorgan Chase

Also No. 9 on The 2007 DiversityInc Top 50 Companies for Diversity list, No. 4 for African Americans, No. 9 for Latinos, No. 7 for Executive Women, No. 4 for GLBT Employees and No. 8 for People With Disabilities.

A longtime member of the Top 50 list, this bank reports that 40 percent of its work force and 43 percent of its new hires are people of color, compared with 34 percent and 42 percent, respectively, for the Top 50.

No. 7: Xerox

Also No. 7 on The 2007 DiversityInc Top 50 Companies for Diversity list, No. 10 for Latinos, No. 3 for Executive Women, No. 1 for GLBT Employees and No. 1 for Supplier Diversity.

Another longtime national diversity champion, Xerox's board of directors is 28 percent people of color, compared with 18 percent for the Top 50.

No. 8: Verizon

Also No. 6 on The 2007 DiversityInc Top 50 Companies for Diversity list and No. 3 for African Americans.

Yet another longtime diversity leader and last year's No. 1 Top 50 company, Verizon reports that 39 percent of its management are people of color, compared with 25 percent for the Top 50. Of women promoted in management, 43 percent are women of color, compared with 31 percent for the Top 50.

No. 9: Procter & Gamble

Also No. 14 on The 2007 DiversityInc Top 50 Companies for Diversity list, No. 9 for Asian Americans, and No. 5 for People With Disabilities.

For this company, also a historic diversity champion, 53 percent of new hires are women, compared with 48 percent for the Top 50. And 43 percent of women in management received promotions, compared with 34 percent for the Top 50.

No. 10: Blue Cross and Blue Shield of Florida

Also No. 15 on The 2007 DiversityInc Top 50 Companies for Diversity list and No. 5 for Executive Women.

Twenty-five percent of the board of directors is people of color, compared with 18 percent for the Top 50. Blue Cross and Blue Shield of Florida has been making steady progress as a national diversity leader.