U.S. Headquarters: New York City
U.S. Employees: 8,245
Last Year’s DiversityInc Top 50 Ranking: First-Time Participant
Why It’s on the List
In its first year of participation, TIAA-CREF landed in the DiversityInc Top 50. President and CEO Roger W. Ferguson Jr. personally reviews and signs off on diversity metrics and progress. He also signs off on executive compensation tied to diversity and meets regularly with the company’s resource groups.
The organization has two flagship mentoring programs: one aimed at new managers and another aimed at emerging leaders. The programs have formal follow-up, measurable goals for assessing success, and cultural-awareness training for mentors.
TIAA-CREF’s resource groups are available to all employees, and a senior executive is a member of each group. The groups are used to identify and nurture management talent and assist in community-marketing efforts. TIAA-CREF measures business contributions of resource-group members versus nonmembers by tracking the number of business initiatives the members participate in.
The organization spends 6.6 percent and 5.2 percent of total procurement with Tier I minority-and women-owned business enterprises, respectively. It audits its supplier-diversity numbers, and results/metrics are reported to senior leadership quarterly. Supplier-diversity information is included in RFPs and/or vendor contracts, and TIAA-CREF requires a percentage of vendors’ contractors to be diverse suppliers. Procurement-management compensation is tied to successful supplier-diversity results.
President and CEO
“Being selected for this list the first time we applied is not only an honor, but a testament of TIAA-CREF’s strong commitment to diversity and inclusion. We understand that in order to sustain long-term success and offer our clients the very best level of service, we must continue to make diversity and inclusion a business imperative.”
Senior Vice President and Chief Diversity & Inclusion Officer
“Diversity is more than just what we believe or the right thing to do—it represents who we are as a company. We focus on diversity and inclusion in all aspects of our business and this recognition confirms we are hitting the mark.”