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The Top 10 Companies for African Americans
What makes a company a national leader for African Americans? Companies on this list demonstrate strong CEO commitment and have made concerted efforts to reach out to the African-American community, recruiting at HBCUs and professional organizations, investing in black-owned businesses, building community relationships through philanthropy and leadership roles in black organizations, and marketing directly to African Americans. Those strategic plans are reflected in their numbers. Consider this:
· The Top 10 Companies for African Americans had an average of 12.2 percent African Americans in management, compared with 9.7 percent for the Top 50 and 7.2 percent for the bottom quarter of respondents. Nationally, blacks comprise 8.1 percent of managers and professionals, according to the Bureau of Labor Statistics. · The Top 10 Companies for African Americans demonstrate extremely high CEO commitment, which proves the connection between strong diversity management and top-down support. In 80 percent of the Top 10 Companies for African Americans, the CEO signs off on executive compensation tied to diversity. This compares with 72 percent of the Top 50 and 45 percent of companies ranked in the bottom quarter of respondents. In all the Top 10 Companies for African Americans, the CEO personally reviews diversity metrics, compared with 88 percent of the Top 50 and 73.5 percent of companies in the bottom quarter. Here are the Top 10 Companies for African Americans: No. 1: Allstate Also No. 23 on The DiversityInc Top 50 Companies for Diversity list and No. 7 in the Top 10 Companies for Recruitment & Retention. The insurance giant has made the Top 10 Companies for African Americans list every year since it began in 2003 and has been No. 1 two of those four years. Seventeen percent of Allstate's work force is African American but 24 percent of new hires are African American, proving the recruitment plans are succeeding. No. 2: AT&T Also one of DiversityInc's 25 Noteworthy Companies, No. 4 on the Top 10 Companies for Executive Women list, No. 3 in the Top 10 Companies for GLBT Employees, No. 5 in the Top 10 Companies for Supplier Diversity, No. 4 on the Top 10 Companies for Recruitment & Retention list and No. 4 on the Top 10 Companies for Latinos list. AT&T, the merged SBC Communications-AT&T company, has a longstanding commitment to African-American leadership. Twelve percent of the company's managers are African American, including 9 percent of direct reports to the CEO. And 8.25 percent of the procurement budget for Tier I (contractor) suppliers went to minority-owned businesses. No. 3: Cox Communications Also No. 32 on The DiversityInc Top 50 Companies for Diversity list. With 18 percent of the work force and 21 percent of new hires African American, the media company also reports 12 percent of all managers are African American. Its board of directors is 14 percent African American as well. No. 4: Xerox Also No. 1 on the Top 10 Companies for GLBT Employees list and one of DiversityInc's 25 Noteworthy Companies. This is the third year in a row Xerox has made this Top 10 list. The company reports 9 percent of its direct reports to the CEO are African American, 8 percent of its middle managers (direct reports to those direct reports) and 13 percent of all other managers. Its board of directors is 18 percent African American. No.
5: Consolidated Edison Co. of Also No. 2 on The DiversityInc Top 50 Companies for Diversity list, No. 5 in the Top 10 Companies for Recruitment & Retention, No. 2 on the Top 10 Companies for Supplier Diversity list and No. 3 in the Top 10 Companies for Latinos. With a work force that is 22 percent African American and new hires at 25 percent African American, Con Ed clearly is a leader in this demographic. African Americans also are 13.5 percent of all managers and 12 percent of the top 10 percent highest-paid employees. No. 6: Wal-Mart Also one of DiversityInc's 25 Noteworthy Companies for Diversity. The nation's largest retailer reports African Americans are 17 percent of the work force and 22 percent of new hires, showing strong recruitment efforts. In addition, 14.25 percent of direct reports to the CEO are African American. No. 7: Wachovia Also No. 21 on The DiversityInc Top 50 Companies for Diversity list. The only bank on this list has a work force that is 20 percent African American while new hires are 26 percent African American. African Americans are 12 percent of all managers and 16 percent of all female managers. No. 8: Verizon Wireless/Communications Also No. 1 on The DiversityInc Top 50 Companies for Diversity list, No. 9 on the Top 10 Companies for Latinos list and No. 1 in the Top 10 Companies for Recruitment & Retention. The No. 1 company on The 2006 DiversityInc Top 50 Companies for Diversity list reported 21 percent of this work force is African American, as well as 26 percent of new hires. Seventeen percent of managers receiving promotions were African American as well as 14 percent of all managers. No. 9: Turner Broadcasting Also No. 7 on The DiversityInc Top 50 Companies for Diversity list. The media company's commitment to African Americans in management is evidenced by this number—19 percent of women managers in the company receiving promotions and 16 percent of all managers were African American. In addition, 21 percent of the work force and 22 percent of new hires were African American. No. 10: Sprint Nextel Also No. 39 on The DiversityInc Top 50 Companies for Diversity list. With a board of directors that is 15 percent African American, the newly merged telecom also reported 18 percent of the work force and 22 percent of new hires were African American. |