Five Outstanding Companies for Diversity
How do you know whether a company is strong on diversity? There‘s a long list of diverse companies. There are many diversity awards. Some of the lists and awards are solid and substantive; others, not so much. In considering top companies for diversity there are some great sources that are based on concrete and tangible data points. Beyond lists and awards, there are several key factors to look at and questions to ask.
What is the company’s rating in the HACR Corporate Inclusion Index (which rates companies based on Hispanic inclusion in employment, procurement, governance, and philanthropy)? How much business does the company do with MWBE’s (minority and women business enterprises)? Are they a member of organizations such as the Billion Dollar Roundtable (BDR), the National Minority Supplier Development Council (NMSDC), and the Women’s Business Enterprise National Council (WBENC)? Does the company have diverse leaders in top leadership?
Here we present brief profiles on five companies that are outstanding for diversity: AT&T, Comcast NBCUniversal, General Motors, Toyota, and Verizon.
AT&T is ranked #12 among the Fortune 500 with $132.4 billion in revenues, $6.2 billion in profits, $86.3 billion in stockholder equity, over 243,000 employees, and a market value of $169.4 billion. In the HACR Corporate Inclusion Index, AT&T is one of only three companies to earn a rating of 95 out 100. What is even more remarkable is that AT&T has scored a 95 rating each of the past five years. When it comes to supplier diversity, AT&T is also among the top companies, purchasing over $15.5 billion per year in goods and services from MWBE’s. AT&T is a member of the Billion Dollar Roundtable, a prestigious group of 20 major companies that spend $1 billion or more with Minority Business Enterprises. AT&T is also a member of the BDR, NMSDC, and WBENC.
Ralph de la Vega is a great example of a diverse leader in the top leadership of AT&T. During his career, he worked his way up within AT&T and its predecessor companies and was recently promoted to Vice Chairman, AT&T Inc. and Chief Executive Officer, AT&T Business Solutions and AT&T International. Ralph also serves the board of directors of New York Life. It is worth noting that AT&T has 12-employee resource groups (ERG’s) and nine employee networks (EN’s) that have a combined membership of 122,000 employees. AT&T’s Hispanic ERG, which is called HACEMOS, has been widely recognized as one of the strongest ERG’s in corporate America.
Comcast NBCUniversal is ranked #43 in the Fortune 500 with $68.8 billion in revenues,
$8.4 billion in profits, $52.7 billion in stockholder equity, 139,000 employees, and a market value of $143.5 billion. In the HACR Corporate Inclusion index, Comcast earned a ranking of 85, an impressive improvement of 25 points over the past five years. In
2015, Comcast reached over $1 billion in supplier diversity spending and was inducted into the Billion Dollar Roundtable. They are also a member of the NMSDC and of WBENC.
Myrna Soto is one of the top diverse senior executives at Comcast. She is Senior Vice President and Global Chief Information Security Officer of Comcast Corporation. Myrna also serves on the boards of directors for CMS Energy and Spirit Airlines. Comcast has over 50 entities globally and has an extensive portfolio of Hispanic properties and content, including Telemundo, which reaches U.S. Hispanic viewers in 210 markets nationwide and syndicates Spanish-language content to over 100 countries in 35 languages.
General Motors is ranked #6 among the Fortune 500 with $155.9 billion in revenues,
$3.9 billion in profits, $35.4 billion in stockholder equity, 216,000 employees, and a market value of $60.4 billion. In the HACR Corporate Inclusion Index, GM earned a rating of 95, an increase of 20 points from the previous year, which is the highest rating and is tied for first with AT&T and MillerCoors. A long-standing member of the BDR, GM also has one of the highest levels of supplier diversity spending at $6.6 billion annually. GM is a member of both NMSDC and WBENC.
GM has had many outstanding Hispanics in top leadership, such as Grace Lieblein, who recently retired as VP of Global Quality, and Cynthia Telles, who served on the GM board of directors from 2010-2014. One of the top Hispanic leaders at GM today is board member Joseph Jimenez, who joined the GM board in June of 2015. Jimenez is the Chief Executive Officer of Novartis AG. GM does a terrific job supporting Hispanic education in STEM and actively recruiting Hispanics for career opportunities at GM.
Toyota is ranked #9 on the Fortune Global 500 with revenues of $247.7 billion, profits of $19.7 billion, assets of $39.8 billion, and over 344,000 employees. Toyota earned a rating of 80 in the HACR Corporate Inclusion Index. A member of the BDR, Toyota spends over $2 billion per year with MBE’s. Toyota is a member of NMSDC and WBENC.
Pat Salas Pineda is one of the top Hispanic executives and one of the top women executives at Toyota Motor North America. Pat is Group Vice President, Hispanic Business Strategy, North America, and Toyota Motor North America. Pat also serves on the board of directors of Levi Strauss & Co. as well as serving as Chair of the Latino Corporate Directors Association. Toyota is the top brand in the U.S. Hispanic market. Even more remarkable, Toyota has been the top brand in the U.S. Hispanic market for ten consecutive years. Toyota’s share of the U.S. Hispanic new vehicle market is around 18%.
Verizon is ranked #15 among the Fortune 500 with $127.1 billion in revenues, $9.6 billion in profits, $12.3 billion in stockholder equity, over 177,000 employees, and a market value of $198.4 billion. Verizon earned a strong rating of 85 in the HACR Corporate Inclusion Index, an increase of 10 points in the past two years. Verizon spends over $1 billion per year with MBE’s and is a member of the BDR, NMSDC, and WBENC.
One of the outstanding examples of diverse leaders in the top leadership is Magda Yrizarry, Chief Talent and Diversity Officer. Magda plays a vitally important role at Verizon, overseeing global diversity, recruitment, and executive development and succession. Verizon has a strong presence in the Hispanic market, ranging from providing scholarships to the Hispanic Scholarship Fund, to sponsoring Hispanic Heritage Month, to engaging with Hispanic organizations, to having a robust ad spend and carrying numerous Spanish-language channels on FiOS.