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July 30, 2020
DIVERSITY MBA RECOGNIZES BEST IN CLASS COMPANIES
“50 Out Front: Best Places to Work for Women & Diverse Managers”
CHICAGO, IL – Diversity MBA Media, a national organization integrating diversity and inclusion with talent management, publishes its 14th Annual Best in Class Recognition – those that have demonstrated consistent and excellent practices, with metrics aligned with strategy that results in impactful change.
“It is important to recognize the effort required to drive results for implementing diversity and inclusion strategies and the Top 50 companies we have selected have made significant and laudable efforts toward achieving those goals,” said Pam McElvane, CEO of Diversity MBA Media & publisher of Diversity MBA Magazine. McElvane added: “The intent of the Best in Class categories is to recognize companies and organizations that have outstanding results and have made significant progress in the categories listed.”
The methodology behind DMBA’s Inclusive Leadership Index is multi-tiered, beginning with the registration of participating organizations who then complete the Index survey. Those with the highest scores are rated in six areas is done to determine the Best in Class. The six areas measured for best practices in management and leadership are Recruitment, Representation, Succession Planning, Workplace Inclusion & Retention, Accountability, and Board Diversity. Those areas are briefly defined below.
Recruitment strategies must be aligned with the overall diversity and business strategy. Building a recruiting platform that has enterprise-wide accountability among recruiters and hiring managers. These companies provide comprehensive diversity and legislative training for recruiters. Equally important is how the companies source talent with demonstrated results hiring women and diverse talent with a diverse slate process.
Representation is the ultimate outcome that companies want to achieve when women and people of color represented in the most senior leadership roles. In order to ensure continual development companies must have a strong pipeline of talent. These companies have demonstrated tremendous progress with advancing women and people of color.
Succession Planning is the talent management process that allows for fair and equitable advancement of identified top talent. The Inclusive Leadership Index’s top companies advance their high potential talent at a rate of 40 percent or more; and their diverse talent at a rate of 50 percent on average. These companies also have intentional executive development programs, formal sponsorships, and mentoring for emerging leaders with the ability to track performance.
Workplace Inclusion & Retention combined are business essentials that must be achieved for the cultural and business integration of diversity and inclusion. It is the blend of cultural competencies and career disciplines resulting in the differences of thoughts, approaches, experiences, identities, affinities and more. Full employee engagement is a culture that supports trust, innovation, flexibility, leadership, and authenticity.
Accountability requires CEO and board commitment to ensure the success of achieving diversity and inclusion results. Accountability must be systemic in all processes at every level. Incentive and recognition need to be cascaded at every level to ensure every employee understands their contribution to the overall strategy.
Board Diversity continues to be a growth opportunity for all companies. More and more companies are engaging their boards in their diversity strategy. Diversity on boards is a proven indicator to ensure a competitive advantage. DMBA’s Inclusive Leadership Index’s Best in Class Companies have an average of 55 percent diversity on their boards; which means women and people of color are the majority.
Best in Class: Top Ten 2020 “50 Out Front Companies for Diversity Leadership: Best Places to Work for Women & Diverse Managers, Best in Class” (listed below in alphabetical order).
|BEST IN CLASS|
2020 50 Out Front Companies for Diversity Leadership:
Best Places to Work for Women & Diverse Managers
(In Alpha Order)
|Recruitment||Representation||Board Diversity||Succession Planning||Workplace Inclusion||Accountability|