Census data shows that minorities make up over 1/3 of the U.S. and that this population is only increasing in size…do you know how to identify if a company values diversity in its culture?
We at Professional Diversity Network have compiled a list of the top four indicators that a company not only acknowledges diversity, but embraces the value it can bring to the workplace. Why does this matter? Aside from the proven inherent value that a diverse workforce brings to a company, according to Talent Intelligence in its piece “Inclusion and the Benefits of Diversity in the Workplace,” a McKinsey study revealed that companies that rank in the top 25% of executive board diversity yield a 53% higher return on equity.
#1: A Diverse Workforce
This sounds obvious, but the first sign that a company values diversity is that it actually has a diverse workforce. Many companies boast about their inclusion initiatives and promote large campaigns centered around diverse celebrations, but when you start to crunch the numbers – they’re not diverse at all. Celebrating National Hispanic Heritage Month as a company doesn’t sound so great when only 0.3% of your workforce identifies as Hispanic or Latino. Information regarding companies’ workforce makeups (especially larger ones) are generally available publically on their websites, through surveys conducted by organizations like Forbes and the Society for Human Resource Management (SHRM), or upon request. Do your research to make sure the company starts valuing diversity in its first priority – its employees!
#2: Diversity-Related Corporate Positions and Departments
Many companies today have corporate branches that specifically deal with recruiting diverse talent, ensuring equal treatment and opportunities for diverse employees, and providing resources for employees who may have disabilities or other needs because of their unique backgrounds. Some corporations have even begun to designate management roles like Chief Diversity Officer, Diversity Manager, Diversity Specialist, and many more to address the growing need to engage and recruit our nation’s growing population of diverse individuals. PricewaterhouseCoopers is one of the companies on the forefront of this movement with an Office of Diversity that promotes inclusion and flexibility for employees with varying degrees of work-life balance. This office is led in part by PwC’s Chief Diversity Officer, Maria Castañon Moats, and provides diverse employees with an equally diverse range of resources.
#3: Diversity “Stuff” – Employee Resource Programs and Mission Statements
Look for “stuff” that’s related to diversity. While not every corporation has a department in place to address diversity, some have programs in place for specific minority groups that provide assistance and resources for the distinct challenges each group may face. A 2013 survey conducted by SHRM revealed that only 17% of organizations used internal groups like diversity committees. SHRM also found that larger organizations are 3 times as likely than smaller organizations to use internal groups that address diversity concerns. With that said – if they have it – you will likely know. With a simple Google search of a company’s name and “diversity,” you will generally be able to take a look at all the different programs and resource groups that are available. Additionally, aside from the popular “We are an Equal-Opportunity Employer,” many companies have created a mission statement that embodies the way they approach and view people of diverse backgrounds and experiences.
#4: Diversity Partnerships and Affiliations
Companies that partner with organizations involved in different minority communities throughout the country demonstrate a strong value for engaging with this population. Most diversity organizations will tell you on their websites what companies they partner with. That’s often a great starting point to find companies that truly value having diversity in its workplace. McDonald’s Corporation boasts an expansive network of partnerships with diversity organizations all over the world like AAJC (Asian American Justice Center), NAACP (National Association for the Advancement of Colored People), and Catalyst. While McDonald’s is known as one of the world’s largest fast food chains, the company has also made a name for itself within diverse communities by getting involved and engaging with partners that more directly interact with these populations.
So, do you think you work for a company that values diversity? What else do you think shows that a company values diversity? Let us know on Facebook, Twitter, LinkedIn, or below! We want to hear from you.