February 15, 2023
So you’ve got a diverse board and the leadership of your publicly traded company is representative of the full spectrum of society. Great start. But what are you doing to support the development of Black employees and how are you helping build their careers?
For Black History Month, TiiCKER decided to take a look at some companies that excel at supporting their Black employees though development programs that include things like employer-sponsored education assistance, resource groups and management training, to name a few. Whether or not a public company has a Diversity, Equity and Inclusion (DEI) program is an increasingly important consideration to many retail shareholders.
A few years ago, Glassdoor launched new products allowing users to view employee sentiment by demographic group. These insights allow us to look at how Black employees rate their workplace experiences and how those experiences vary from their non-Black co-workers. Black employees on Glassdoor rank diversity and inclusion as most important. By contrast, ratings for senior management holds the lowest score – proof that senior leaders need to continue to focus on fostering trust, increasing transparency and unifying employees around common goals.
Though it is apparent that many companies are putting more effort into expanding opportunities for Black employees, some employers rose to the top on Glassdoor for their work in supporting diversity.
Let’s take a closer look at a few of Glassdoor’s 2022 top performers:
Delta Air Line (Tii:DAL) – Delta takes diversity seriously. It has several programs and initiatives to boost its commitment to DEI. Closing the Gap is one way Delta measures the success of its commitment to Diversity, Equity & Inclusion. Closing the Gap focuses on narrowing the representation gaps between frontline level employees and other levels of Delta Air Line employees. Gaining Altitude is a live video series that features Delta Air Lines CEO Ed Bastian hosting insightful guests to discuss topics that matter to our world, from leadership to sustainability to Diversity, Equity & Inclusion. “Thoughtful action combined with a focus on championing diversity, equity and inclusion in the workplace and within our personal lives will play a healing role to help us keep climbing. The Delta family will use whatever means we have to move the world toward a better, more just tomorrow,” said Bastian.
Microsoft (Tii:MSFT) – In its 2022 DEI report, the tech giant said that it energized its work toward fulfilling its commitment made in 2020 to double the number of Black and Hispanic and people managers, senior individual contributors and senior leaders in the U.S. by 2025 as part of its Racial Equity Initiative. For Black people managers (below Director level), Microsoft has already met its 2025 commitment. For directors, partners and executives — including people managers and individual contributors — the company is 92% of the way to its commitment.
Northrop Grumman Corp (Tii:NOC) – Northrop Grumman takes DEI seriously. The company has an active Diversity, Equity and Inclusion Leadership Council. It also has an African-American Task Group, whose mission is to internally and externally reinforce Northrop Grumman’s commitment to attaining and maintaining an inclusive workforce by creating an atmosphere that attracts, promotes, and fosters development of diverse professionals across business areas. The goal is to provide a forum and mechanism for positively impacting business outcomes with a focus on professional and leadership development, community outreach, networking and mentorship and recruitment and retention of Black employees.
FedEx (Tii:FDX) – FedEx believes in investing in its people and said that its diversity programs make them stronger. Its workforce and leadership have been recognized consistently among top brands for diversity and inclusion. Nearly 50% of its U.S. workforce and 35.5% of its management team are minorities. In fiscal year 2021, FedEx spent $18.7 billion with diverse suppliers. A good example of FedEx’s commitment to building Black representation and leadership is its Student Ambassador Program. The program helps prepare students who attend Historically Black Colleges and Universities (HBCUs) to be future leaders with opportunities to learn about the FedEx enterprise from executives, build leadership and career-ready skills and participate in unique experiences, while also helping expand the company’s pipeline for diverse talent.
Bank of America (Tii:BAC) – Bank of America said its commitment to diversity begins at the top. Since 2007, CEO Brian Moynihan has chaired the Global Diversity & Inclusion Council — the chief governing body for its diversity and inclusion strategy. Each management team member has action-oriented diversity goals, which are subject to its quarterly business review process, used as part of talent planning and included in scorecards reviewed by the board. The company has a chief diversity and inclusion officer who partners with the CEO and management to drive its diversity and inclusion strategy, programs, initiatives and policies. Bank of America also has a Global Diversity & Inclusion Council that promotes diversity goal setting and is embedded in its performance management process and occurs at all levels of the organization. The GDIC consists of senior executives from every group and has been in place for over 20 years.
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