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NEW sponsors are best companies for multicultural women

Wednesday, May 16, 2012  
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Seven Network of Executive Women sponsors have been recognized by Working Mother as "Best Companies for Multicultural Women.”

Making the list of 25 companies were NEW foundation sponsors PepsiCo, Procter & Gamble and Walmart; title sponsor Deloitte; platinum sponsors Colgate-Palmolive and General Mills; and gold sponsor American Express.

The Best Companies for Multicultural Women support initiatives specifically designed to recruit and retain multicultural women, Working Mother noted. More than 90 percent of the firms design specific recruitment initiatives for multicultural women and 88 percent have special programs to retain minority women employees. Eighty percent run professional development programs for women of color and nearly 90 percent offer mentoring programs specifically geared toward younger multicultural women or those early in their careers.

"The Best Companies for Multicultural Women value the power of a diverse workforce and work hard to make sure their pipelines are filled with talented women of color,” said Jennifer Owens, director of the Working Mother Research Institute. "Even beyond mentoring and networking programs, these companies are reaching out to professional and school groups and sponsoring recruitment events to attract the best multicultural women talent.”

In the area of leader accountability, 84 percent of the Best Companies for Multicultural Women have performance appraisal objectives for managers that include their management of diversity issues, while 36 percent tie manager’s pay to advancing multicultural women.

Multicultural women make up 21 percent of total employees at the Best Companies, while multicultural men represent 15 percent of the total. This year, multicultural women at the manager level represent 14 percent of all management promotions at these companies -- an increase of one percentage point over 2011. Women of color make up 14 percent of all top earners, a significant increase over their representation last year of 11 percent. At the Best Companies, multicultural women hold 4 percent of board seats, on average, vs. 3 percent across the Fortune 500.

Best companies for multicultural women benchmarks

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