No. 14 | Abbott | DiversityInc Top 50

WHY THEY’RE ON THE LIST

KEY RESULTS


  • Blacks, Latinos and Asians in Senior Leadership: 16.9% higher than the Top 10, 43.2% higher than the Top 50 and nearly 65% higher than U.S. companies overall
  • Supplier Diversity: 16.7% higher than the Top 10 and 34.3% higher than the Top 50 on prime suppliers who are women owned
  • Mentoring by CEO and direct reports: 18.6% higher than the Top 10 and nearly 50% higher than the Top 50

BEST PRACTICES

The level of engagement among top executives at Abbott may be the secret weapon in why Abbott maintains a strong diversity showing.

The company links executive compensation to diversity metrics, and that includes everything from overall corporate diversity targets to individual goals such as being an executive sponsor of an employee resource group or a cross-cultural mentor.

And no one gets a mentoring pass. Executives at the top three levels of the company, including the CEO, all participate in a formal mentoring program. Mentors receive cultural-awareness training, and the pairings are designed to be cross-cultural. Abbott also has formal sponsorship for high-potential employees from underrepresented groups.

The CEO also personally signs off on goals and achievements for supplier diversity, and the company requires its direct vendors to mandate diversity among the suppliers they work with.

In addition, the company’s board of directors receives a presentation of supplier and diversity results at least once a year.

The company maintains it values “diversity of people, products, technologies and geographies and believe[s] that diverse perspectives and shared goals inspire new ideas and better address changing healthcare needs.”

DIVERSITY LEADERSHIP

Miles D. White

Chairman and CEO

“The business case for a diverse workplace is clear: companies with more diversity among their people think more creatively and adapt more quickly to changing markets. We’re a global company; we need a wide diversity of ideas and perspectives to understand the people we serve and be relevant to their lives.”

Vildan Kehr

Divisional Vice President, Global Talent Acquisition

“At Abbott, our talent is our greatest business asset, and we see diversity as core to our success. It’s not about numbers, but the people whose perspectives and contributions are formed from a lifetime of diverse experiences. This is how we inspire and capture the innovation that drives our global business success.”

COMPANY FACTS

ABT (NYSE)

U.S. HEADQUARTERS

Abbott Park, Ill.

GLOBAL EMPLOYEES

74,000

Last Year’s DiversityInc Top 50 Ranking No. 14

DiversityInc Lists

No. 4 Global Diversity

No. 5 Diversity Councils

No. 7 Supplier Diversity

No. 15 Mentoring

Latest News

voting reform

Senate Republicans Block ‘For the People Act’ Voter Reform Bill and Effectively Preserve Racist Voting Restrictions

Conservative lawmakers from Georgia to Florida to Texas continue to pass highly restrictive and racist election reform laws designed to keep Democrats and people of color from voting, and the Senate appears powerless — at least for now — to stop their Jim Crow-era antics. The latest blow to the…

NYPD officers

Civilian Complaint Board Reports That Up to 39 New York Cops Should Be Disciplined Following George Floyd Protests

Abuse toward public protesters was rampant all over the U.S. during the summer of 2020. And according to a new report from New York City’s Civilian Complaint Review Board (CCRB), the problem appears to have been especially bad in the country’s most populous city, where 39 officers have been accused…

U.S. Senator Sheldon Whitehouse

Rhode Island Progressive Democratic Senator Sheldon Whitehouse Defends His Membership to an Elite All-White Private Beach Club

In a blow to voters and political supporters in Rhode Island, Democratic Senator Sheldon Whitehouse has come under fire for not only belonging to an exclusive all-white private beach club — but also for defending his membership and saying he doesn’t think it’s a problem. According to NBC News, reporters…

Housing and Urban Development Secretary Marcia Fudge

HUD Secretary Marcia Fudge Says Student Loan Debt Is a Major Hurdle for Black Homeownership

Black Americans are saddled with an overwhelming majority of the nation’s $1.7 trillion student debt — and according to Department of Housing and Urban Development (HUD) Secretary Marcia Fudge, that debt is one of the key factors preventing Black Americans from buying and owning their own home. Business Insider’s Ayelet…

Denver Mayor Michael Hancock

11 Mayors Team Up To Launch New Local Reparations Efforts, Establish Framework for a National Reparations Program

Following an announcement in March that city officials in Evanston, Illinois would begin paying qualifying city residents up to $25,000 in reparations for use on property payments and home repair, and fresh off the government’s announcement of Juneteenth becoming a federal holiday, mayors in 11 additional U.S. cities have announced…