CHICAGO, IL – Diversity MBA Media, a national organization integrating diversity and inclusion with talent management, today publishes its 16th annual list of 50 Out Front Companies Best in Class in each research category.
“The Best in Class categories” is to recognize companies and organizations that have outstanding results and have made significant progress in the categories listed below:
Those with the highest scores are rated in six areas 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.
Representation is the ultimate outcome that companies want to achieve when women and people of color are represented in the most senior leadership roles. To ensure continual development companies must have a strong pipeline of women and diverse talent. These companies have demonstrated tremendous progress with advancing women
and people of color.
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 includes women and people of color.
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.
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.
Accountability requires CEO, leadership, 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.
Best in Class: Top Ten 2022 “50 Out Front Companies for Diversity Leadership: Best Places to Work for Women & Diverse Managers, Best in Class” (listed below).