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Specialty Lists: The Top 10
Companies for Asian Americans
Industry: Pharmaceuticals
Main Competitors: Merck & Co., Roche, Sanofi-Aventis
U.S. Headquarters: Abbott Park, Ill.
Number of U.S. Employees: 33,000
Annual Revenue: $25.9 billion
% of Operations Outside U.S.: Slightly more than 50 |
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Why
It's on the Top 50: In its fifth year on the list, Abbott scores
particularly well in Human Capital.
Diversity Strengths: Chairman
and CEO Miles D. White signs off on executive compensation tied to diversity,
chairs the diversity council, meets regularly with employee-resource groups and
has a personal quote on diversity on the corporate web site.
White
evaluates diversity results monthly with his senior staff, and quarterly with
his executive inclusion council. Diversity goals are also a component of
management goals and performance evaluations, including incentive bonuses. The
divisional vice president of talent acquisition reviews the company's
achievement-of-diversity goals each month with his entire staff and publishes
the results on a scorecard.
Abbott has unbiased retention in its work
force and management, meaning it retains employees at statistically equal
levels, regardless of race/ethnicity or gender.
The company has an
excellent mentoring program, with 50 percent of managers participating, compared
with a Top 50 average of 35 percent. Mentors have specific goals, receive
training and have formal follow-up.
Abbott has first-rate work/life
benefits, including alternative career tracks, floating religious holidays,
onsite fitness centers, recreation clubs and legal services.
The company
has mandatory diversity training for its global work force. Its global
commitment to human rights is strong. The company says: "Our commitment is to
involve our leaders and employees, share our knowledge and expertise, donate our
products, and provide financial support to address unmet needs in our core
funding areas: Access to Medicines, Global AIDS Care, Science and Medical
Innovation and Community Vitality. Additionally, as a member of the Partnership
for Quality Medical Donations, Abbott works with the world's leading relief
organizations and assists in countless medical missions and ongoing programs for
humanitarian assistance."
Miles D. White, Chairman and CEO: "Fostering an inclusive workplace is essential for Abbott's success. We count on having a variety of perspectives to foster the innovation we need to bring our science, and our company, to a higher level."
William Lee, Director, Corporate Diversity, Inclusion & Compliance: "Diversity is a critical part of Abbott's identity--we value the diversity of our products, technologies, markets and most importantly, our people. We maintain strong goals for the recruitment, hiring and retention of a diverse work force and management team, and [we] support programs that promote an inclusive work environment. Key efforts include extensive mentoring programs and employee networks. More than 7,700 employees participate in Abbott's employee networks, which play a vital role in building more diverse leadership within Abbott."
More DiversityInc Articles on
Abbott:
Recruitment Success Strategies
Real Success Stories
Who Is A
Successful Woman?
How Top 50 Companies Ease the Burden on Nursing Moms
Want to Work
There? 5 Ways to Make Sure That Company Cares About Diversity
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