- No. 3 in The DiversityInc Top 10 Companies for Asian Americans
Why It’s in the DiversityInc Top 50
Starwood moves up 20 spots from last year because of its increasing focus on diversity as an internal and external driver of business.
President and CEO Frits van Paasschen personally signs off on executive compensation tied to diversity, with 20 percent of the bonuses of his senior executives linked directly to diversity goals. He also appoints members of the diversity council and personally communicates his enthusiasm for diversity on the company’s intranet.
Starwood has created an inclusive workplace culture through a strong formal mentoring program and excellent work/life benefits. Those include lactation programs, onsite religious accommodations, paid time off for volunteering/community outreach/professional associations, sign-language courses, and associate work/life-balance coordinators.
The company has a strong history of community philanthropy, with 50 percent of its current philanthropic endeavors going to multicultural charities, including UNCF, Thurgood Marshall Scholarship Fund, New York School for the Deaf, INROADS, National Society of Black MBAs, and National Society of Hispanic MBAs.
Frits van Paasschen
President & CEO:
“Hiring and retaining diverse talent, contracting with diverse suppliers, and marketing our brands to all potential customers simply just makes sound business sense. Starwood’s diversity and inclusion efforts are fundamental components to our company’s ability to outperform the competition, increase shareholder value and show the organization’s commitment to the economic growth of all the communities in which we operate. Starwood making The 2010 Top 50 Companies for Diversity list serves as a mile marker that we are headed in the right direction along our journey.”