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Specialty Lists: No. 6 on The Top 10 Companies for Recruitment & Retention, No. 3 on The Top 10 Companies for Latinos, No. 2 on The Top 10 Companies for Executive Women
Industry: Financial Services
Main Competitors: Visa, MasterCard
U.S. Headquarters: New York, N.Y.
Number of U.S. Employees: 68,000
Annual Revenue: $3.9 billion
% of Operations Outside U.S.: 51 |
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Why It's on Top 50: A Top 50 mainstay, American Express is particularly strong in its Human Capital and Corporate and Organizational Communications, as evidenced by its extremely robust employee-resource groups.
Diversity Strengths: Thirty-four percent of its work force are members of its 11 employee-resource groups, which have existed for more than 10 years. By contrast, the Top 50 average is 19 percent of the work force in these groups. American Express employee groups are: Association of Hispanics Organized to Raise Awareness (AHORA), Black Employees Network (BEN), Christian Employee Network (SALT), Jewish Employee Network (CHAI), Muslim Employee Network (PEACE), Disability Awareness Network (DAN), Black and Asian Network (BAAN), Native Americans Network (NATION), Gay, Lesbian, Bisexual, Transgender Network (PRIDE), Generational Awareness Network (PASSAGES), and Women Interest Network (WIN).
American Express clearly communicates its diversity commitment to its work force, including its bimonthly magazine for employees, Context, which features profiles of employees. The company also has mandatory diversity training for its entire work force called Valuing Diversity Practicing Inclusion. The training is available every month and lasts a full day.
The company also has excellent work/life benefits, including religious accommodations for employees and on- and off-ramping.
Kenneth I. Chenault, Chairman and CEO: "'Diversity' and 'inclusion' aren't just buzz words, they're business imperatives. Building a diverse and inclusive organization strengthens our competitive advantage and is crucial to achieving our vision of becoming the world's most respected service brand. Diversity helps us generate new ideas, attract the best talent and better service our customers across the globe. When people of different talents, perspectives and backgrounds have equal opportunity to succeed and can thrive in the workplace, individual employees, customers and shareholders benefit, and that means business benefits."
Melinda B. Wolfe, Senior Vice President, Executive Talent, and Chief Diversity Officer: "At American Express, diversity is a strategic business imperative, which aligns with our business objectives, and our leaders are invested in ensuring lasting results. We remain focused on the needs of our clients, customers and employees to inform our diversity strategy and our commitment to build an inclusive, compelling workplace."
More DiversityInc Articles on American Express:
How to Get the CEO to Increase the Diversity Budget--Even in Tough Times
How to Turn a Bad Annual Review Around
Global Diversity: The Next Frontier
Who Sustains Dr. King's Legacy? Read What Oprah, Obama, Chenault Have to Say
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