Diversity and inclusion in the workplace has become an integral topic, requiring utmost attention from leading organizations. These organizations have taken their racial equity efforts beyond the workplace by devising measures to support societies where they function with resources to breach the gap between races, genders, and other groups.
- Citi’s diversity and inclusion mission is to Citi’s diversity and inclusion objective is to foster an equitable and inclusive culture that enables the company to achieve its full potential proudly. Citi acknowledges the importance of diversity in its progress as an organization and is therefore committed to ensuring that they employ diversity as a tool for advancement and economic development.
- Citi’s employees consist of citizens of more than 160 countries across the world. The organization considers this as one of its strengths as it affords it different perspectives from around the globe and helps drive innovation.
- In commitment to its racial equality goals, the organization consists of affinities grouped in ten categories. Each of these affinities is co-led by members of the senior leadership team with the goal of “understanding and appreciating” each group while helping them grow.
- Citi also has an Employee Network Program targeted at solving employee and diversity-related issues such as diverse recruitment, pay equity, work flexibility, unconscious bias, etc.
- To make learning and development resources available to all employees, Citi has five development programs in place to improve the ability of employees and prepare them for future roles. These programs are:
- Diversity Leadership Program
- Director Promotion Program
- Citi Women’s Leadership Development program
- Risk group
- High Potential Accelerator program
- Action for Racial Equity is one of Citi’s initiatives targeted at closing the “racial wealth gap and increasing economic mobility in the U.S.” Through this program, the organization supports communities of color in numerous ways. It increases access to credit for people of color, invests in black and other minority-owned businesses, invests in and promotes black homeownership, and provides networks for young people of color to gain employment and build their careers.
- Citi prioritizes issues concerning pay equity. The organization often makes pay adjustments to ensure that women in the US who work at Citi are paid, on average, just as much as men (more than 99%). It is also making efforts to improve the median pay for US minorities, which currently stands at 94% of the median pay for nonminorities in the US.
- The firm is also addressing representation goals with a focus on three paramount areas. These categories include targeted recruiting, development, and retention, as well as career pathways and protocols for advancement. It is also keen on improving the representation of women and black people in senior leadership roles within the firm.
- In a bid to drive inclusive leadership, Citi organizes events and engagements for its employees to understand the term and “address unconscious bias and workplace micro-inequities.” One of such events is the firm’s annual Together at Citi event.
- CITI: The Moment — It’s About Time, one of the organization’s recent campaigns, kicked off in 2019. It was designed to address diversity and inclusion issues concerning racial division and pay equity across various industries. The campaign featured children of some of Citi’s employees.
- In 2020, Citi partnered with the International Paralympic Committee to encourage women in the Paralympics, as well as the disabled in general. Team Citi — Supporting Female Athletes, a result of this partnership, is one of the firm’s efforts to support women (minorities and non-minorities).
2. BANK OF AMERICA (BOA)
- BOA’s diversity and inclusion mission is to “promote a diverse and inclusive workforce to support its employees and better serve customers, clients, and shareholders.” The firm considers diversity a key factor in its ability to serve customers and develop through the unique potentials of each employee. The organization is a diverse workplace for people of all thought, culture, sexual orientation, gender identity, race, ethnicity, disability, and experience.
- Global Diversity & Inclusion Council (GDIC), headed by BOA’s CEO, Brian Moynihan, is the governing body in charge of its diversity and inclusion strategy. This body, which consists of senior executives representing various groups, is responsible for developing diversity and inclusion goals, which are subject to review.
- Through numerous development and learning programs, the firm promotes mutual respect and teamwork amongst employees. Some of these programs are:
- Diverse Leader Sponsorship Program
- Returning Talent program Asia Pacific Women’s Conference
- Women’s Executive Development Program
- The firm holds courageous conversations among employees to discuss otherwise uncomfortable topics. 320 of such conversations were held in 2020 with 165,000 employees participating. These events, held in 2020, are Let’s Get Real, Inclusion Manager Series, myD&I Development Program, and Inclusion ACTion kit.
- BOA has 11 employee networks for various groups, including people of color, pride, parents, military, and others. These networks have over 180,000 members (employees) and 325 chapters globally. They are responsible for diverse recruitment, the building of team-spirit and bond, and the development of leadership skills.
- Bank Of America supports women in leadership both within the organizations and outside through external partnerships. It also offers mentorship and networking opportunities to young female entrepreneurs and girls through its employees.
- BOA is committed to racial equity and economic distribution, with a focus on contributing and developing communities of color. In 2020, the organization created an initiative with $1 billion in funding to assist people of color in the areas of healthcare, affordable housing, support for small businesses, and general economic and financial development.
- Individuals with disabilities are on the list of top priorities for BOA. The firm, which has a team of over 300 employees with intellectual disabilities, also creates opportunities for members of this group through its products and services. BOA, through its 30-year partnership with Special Olympics, supports people with disabilities in building skills and achieving their goals.
- BOA is an official partner of the Love Has No Labels, a campaign committed to fighting racism, discrimination, and all other forms of bias and promotes diversity, inclusion, and equity for people across all groups. The group actively supported the Black Lives Matter protests in 2020 through its campaign ad, Fight For Freedom.
3. MORGAN STANLEY
- The diversity and inclusion objective of Morgan Stanley is to engage in underprivileged areas, advance equality via philanthropy, and foster workplace diversity and inclusion. The firm considers diversity as an opportunity to benefit from diverse perspectives that represent the societies where the firm exists. It also partners with other organizations to help address issues surrounding social injustice and inequality.
- Institute for Inclusion, a body created by Morgan Stanley, is responsible for developing diversity and inclusion strategies to help the firm to drive meaningful change within its walls and in the society while contributing to “creating a more equitable and inclusive society.”
- Access and Opportunity Podcast is one of Morgan Stanley’s programs dedicated to driving diversity and inclusion. The podcast is hosted by the firm’s Vice Chairman, Carla Harris. The show, which hosts different speakers on each new episode, was designed to help provide capital to underdeveloped and developing communities.
- Innovation Lab is a program hosted within Morgan Stanley to grow and develop multiple “technology and technology-enabled startups” led by women and people from multicultural backgrounds. This program assists in providing access to capital in underserved populations.
- The Senior Multicultural Leaders Conference, which is held annually, addresses problems such as underinvestment in small, multicultural, and female-led businesses. The last conference, which was held virtually last June, discussed the events which shaped the year, including opportunities and challenges posed by the pandemic and social unrest.
- Morgan Stanley’s employee networks consist of a variety of groups across different continents. However, there are only five available globally. They are:
- disABILITY Employee Network
- Employee Sustainability Forum
- Family Network
- Pride & Ally LGBT Employee Network
- Women’s Business Alliance
- The organization announced the Morgan Stanley HBCU Scholars Program in October 2020. The integrated program will give full scholarships to students attending Howard University, Morehouse College, and Spelman College. The program will begin in the fall of 2021.
- In a bid to tackle gender inequality, the firm is looking to increase its percentage of female employees and women in leadership. Its current percentage of female employees stands at 39% both globally and in the Americas. The organization’s Return to Work program has helped numerous women who took a parenting-related break from work to get back on their chosen career path. Innovation Lab has also provided several female-led businesses with access to capital.
- Many of Morgan Stanley’s diversity and inclusion programs are targeted at improving racial equity and opportunity. The firm provides opportunities to communities and people of color and multicultural backgrounds such as scholarships, access to capital, and financial advisory services. It is also taking steps to ensure equal representation across all races in its employee profile.
- Morgan Stanley is one of the sponsors of the Catalyst campaign launched in 2019 tagged “Now Is the Moment — Be a Catalyst.” The firm donated $1 million to this cause in line with its plan to “advance diversity, equity, and inclusion in the workplace.” Catalyst, through this cause, campaigned for equal opportunity for women in the workplace, pay equity, and other gender-related issues.
4. JP MORGAN
- JP Morgan’s diversity and inclusion mission is to have a diverse and inclusive culture for its employees and business through various recruiting practices, training, products and services, and supplier diversity. With a $30 billion commitment to this cause, the firm is on its way to achieving intentional respect and inclusion in its operations and relations with employees and customers.
- Additionally, the company is striving to diversify its already diverse staff. It allows employees to communicate and share unique ideas through its Business Resource Groups (BRGs). Some of these BRGs are Access Ability, AsPIRE, Adelante, BOLD, NextGen, Pride, and others.
- Women on the Move is one of JP Morgan’s employee-centered programs designed to help bridge the gender gap and support women in their professional and personal lives. This initiative intends to increase women-owned companies, strengthen women’s financial well-being, and promote women’s professional advancement. Using its resources, the firm will help make the ambition of numerous women attainable.
- Expanding Black Pathways is a scheme designed to assist the black community in attaining economic success and empowerment. It provides pathways in education, wealth, and careers to stimulate the growth and advancement of black communities. This initiative also comprises opportunities for homeownership, internship, entrepreneurship, among others.
- JP Morgan Chase co-founded the Veteran Jobs Mission in 2011 to acknowledge the enormous sacrifices of US military members, veterans, and their families. This mission, which is currently supported by over 200 member organizations, is committed to hiring one million veterans. JP Morgan Chase alone has hired 16,000 so far. It also offers free career training and has donated over a thousand homes to veterans and their families.
- JP Morgan Chase is tackling the affordability and homeownership crisis in disadvantaged regions. Homeownership rates among Black and Latinx families are 25% lower than the rate obtainable amongst White families. The firm has promised $8 million in mortgages on 40,000 houses to assist Black and Latinx families with homeownership.
- The organization is also providing $2 billion support in loans for small businesses and businesses led by people of color. It will grant 15,000 loans to such businesses over the next five years. Also, recipients of the loan will be coached for free. The organization will continue to advocate positive policies and aids for small businesses.
- In a bid to improve financial health and services for people of color, JP Morgan Chase will be opening new low-cost checking or savings accounts for one million Black and Latinx over the next five years. The bank will also employ 150 new community managers to help bring fast banking services to underserved, unbanked, or underbanked communities.
- The 30-5-1 campaign is an initiative of Women on the Move. The campaign, which was launched internally a year ago, was created to encourage both genders to help women achieve their potential. The goal is for everyone to spend 30 minutes a week having coffee with a brilliant young woman, 5 minutes a week celebrating a female colleague on a win or achievement, and 1 minute a week promoting the woman who won to other colleagues around the business. This makes a total of 36 minutes a week committed to supporting the growth of women.
5. CREDIT SUISSE
- Credit Suisse’s diversity and inclusion mission is to create an “inclusive and open corporate culture” where ideas can thrive and where products and services can be delivered to customers. Its employees include citizens of 180 different countries. This wealth of diversity affords the bank a better understanding and knowledge of international markets and clients.
- Credit Suisse encourages its employees to have courageous conversations. The freedom to talk about uncomfortable or unpleasant topics will result in open dialogue which will welcome innovation and progress.
- With its global employee networks, Credit Suisse offers an opportunity for employees to connect and exchange knowledge and experiences on topics of interest. These networks, which are voluntarily run by employees, organized 370 events worldwide in 2018. They are Networks for Women, The Career Network, LGBT Network, Disability Interest Forums, among others.
- Real Returns is a bank-sponsored initiative aimed to reintroduce returning professionals to the workforce following a career hiatus. The program, which runs in three countries, provides mentoring and networking opportunities to participants to help them return to work. Since its inception in 2014, the program has been a success with 360 participating professionals so far, 60% of whom were permanently retained as employees at Credit Suisse.
- Pay equity is an important area of focus at Credit Suisse as it intends to bridge the gap in remuneration for both sexes. To narrow its pay gap and encourage transparency, the firm publishes its gender pay gap report every year. The most recent report was issued in 2019.
- In commitment to its gender equality goals, Credit Suisse constantly reviews the gender breakdown across its divisions for potential cases of unconscious bias. Additionally, the business is a proponent of the Women in Finance Charter, which it signed in June 2016.
- Credit Suisse supports the LGBT community and encourages fair treatment and inclusion of the group within its organization. The #SustainablePride campaign in 2019 was an initiative to help solidify their support of the group.
6. WELLS FARGO
- The diversity and inclusion objective of Wells Fargo aims to guarantee that all persons in the company’s employees, community, and supply chain feel appreciated and respected, and have equitable access to resources, services, products, and chances for success. The company’s racial equality goals are directed towards workforce diversity and inclusion, advocacy, and business decisions. It implements initiatives to attain these goals through its diversity and inclusion councils.
- Wells Fargo’s member networks, which have over 160,000 members, are organized by employees who share similar backgrounds. These networks cut across continents, ethnicity, race, sexual orientation, etc. They are:
- Asian Connection
- Black/African American Connection
- Diverse Abilities Team Member Network
- Latin Connection
- Middle East Team Member Network
- My Generation Team Member Network
- Native Peoples Team Member Network
- PRIDE Team Member Network
- Veterans’ Team Member Network
- Women’s Team Member Network
- The organization is keen on tackling pay inequity at the workplace. To this end, it has compensation principles in place to guide the payment of wages and salaries within the firm. Wells Fargo also constantly reviews these principles and processes through a third party.
- Wells Fargo provides financial education and tools to military members and veterans, as well as mentorship, career preparation, scholarships, and house donation. Additionally, the bank collaborates with the US Chamber of Commerce Foundation’s Hiring Our Heroes (HOH) program to assist veterans in obtaining jobs.
- UBS’ diversity and inclusion mission is to continually accept all individuals, ideas, and inspiration in becoming a “more innovative, dynamic and, ultimately, more successful company.” The firm also supports all opinions and perspectives by encouraging open dialogue in a flexible work environment. Its employees come from 133 different countries and speak 150 languages.
- UBS, as an organization, believes that diversity is crucial to its growth. Such a wealth of opinions will improve its decision-making process and bring forth innovative ideas.
- The Career Comeback Program is an initiative designed to welcome professionals who have taken a career break back to work. This program only accepts director-level professionals who have taken a leave of not less than two years. It is a multidimensional experience featuring classroom learning, mentoring, and coaching. So far, the initiative has hired 150 women globally and retained 85% of them.
- The Veterans Associate Program is a 20-week internship for veterans who intend to enter into the business world. This initiative has employed 18 veterans in permanent positions and retained 85 percent of them over the previous three years.
- The Enlisted Veterans Apprenticeship Program (EVAP) was created to enlist, train, and equip military veterans with on-the-job experience. This experience will help to kickstart their careers in finance. The program accepts graduates at all levels, including High School graduates.
- UBS is focused on empowering veterans in the UK. The firm understands how challenging the transition to civilian life is for veterans. Therefore, it is willing to welcome them into its diverse workforce permanently.
- UBS is committed to improving gender balance in its workplace by prioritizing the recruitment of women into senior leadership roles at the organization. The firm has also created two global movements, Dads4Daughters and Brothers4Sisters (D4D, B4S), to encourage women to adopt a career in financial services.
- Google‘s diversity and inclusion mission is to practice racial equity in all its operations both within the firm (employees) and outside the firm with clients. The firm has grown in the direction of this vision over the last few years as its workforce continues to mirror its user base.
- Google is committed to helping the societies in which it resides grow and embrace the world of technology through computer-centered programs. The firm also continues to actively recruit and retain the best talent from all races, ethnicity, gender, sexual orientation, etc.
- The organization’s 16 employee resource groups (ERGs), also known as affinities, boasts 250 chapters and 35,000 participants globally. These groups provide development opportunities to underserved and underrepresented communities. A few of these groups are Africans@Google, Greyglers, Asians Googler Network, Disability Alliance, Gayglers, and Google Veterans Network.
- In 2019, Google launched the Global Disability Alliance Summit, a global ERG event, where employees collaborated and discussed strategies for improved inclusion and accessibility for its disabled staff at work and its end users.
- Black women in Europe, the Middle East, and Africa gathered at the Google State of Black Women EMEA event last year. The event featured dialogues on the challenges and opportunities open to black women in these areas and ways to support them personally and professionally.
- To reach out to its LGBTQ community, Google convened the Pride + Inclusion Conference in Warsaw, Poland, with 60 participants from 26 different countries. The program improved the understanding of participants on LGBTQ related issues in Eastern Europe.
- Women Will, a female-centered initiative, was designed by Google to educate and train women in 44 countries across the world. In 2019, the program trained 10.65 million women globally, empowering them to create opportunities by becoming entrepreneurs or getting new jobs.
- Google contributes to communities in which it is resident through programs designed to expose these communities to the world of technology. These programs also help build the firm’s talent pool, which will form the next generation of Black and Latinx tech leaders.CS First, Code Next, and Tech Exchange are just a few of these programs.
- Google believes that every employee should be paid based on their talent and hard work without bias to personalities, gender, sexual orientation, etc. Its compensation scheme is designed to be fair and equitable. Hence, they have it reviewed every year, only taking into account important factors such as role, level, location, and performance. In 2019, they increased compensation for 2% of their employees to bridge possible demographic pay gaps.
- The #ItsUpToMe, led by Google, was designed to encourage leaders, managers, and employees to understand and become allies with communities where they function. Participants learned to become models of inclusive behavior and to commit to making diversity and inclusion goals attainable. So far, 30 offices around the world have joined this campaign.
- Apple’s diversity and inclusion mission is to embrace the strength provided by the differences in diversity and ensure that everyone is included. Over the last five years, the firm has taken active steps to diversify its workforce by hiring from underrepresented and underserved groups, including women and people of color. These hires represent 53% of its recent recruits.
- The representation of women at Apple increased by 7% between 2014 and 2018. Also, the percentage of employees from groups that are underrepresented in tech rose from 25% in 2014 to 35% in 2018.
- AppleCare College is one of the organization’s programs designed to improve diversity. The one-year program provides flexible and remote employment to college students. Participants in the program receive a free iMac from Apple and join the firm’s team of technical support experts. These participants are expected to provide support to the firm’s customers daily. The program is collaboratively administered by community institutions and historically black colleges and universities (HBCUs).
- Apple HBCU Scholars is a collaborative effort with the Thurgood Marshall College Fund (TMCF). The program will provide a $15,000 merit-based scholarship to selected scholars currently undergoing a program at an HBCU. The opportunity is open to students of tech-related, business-related, and law courses.
- The organization ensures that there is 100% equity in compensation for work done. In the US, Apple has successfully equalized pay for minorities and nonminorities, with nonminorities earning a dollar for every dollar white employees earn. The firm has also stopped asking new hires about their salary history to ensure that such factors do not affect the employee’s pay.
- Apple offers opportunities to veterans who are looking to reenter civilian life and become employees. The firm believes that veterans bring unlimited qualities into the company, including team spirit, leadership, and technical skills. The firm not only hires veterans but also provides career development training, mentoring, and coaching to ensure long-term success.
- The diversity and inclusion objective of GE is to build an inclusive culture in which everyone feels empowered to perform their best job as a result of their acceptance, respect, and sense of belonging. The firm believes that organizations are better equipped for work when they have diverse teams and perspectives.
- The business provides programs for early education, community engagement, and talent development through its volunteer and employee networks.
- GE’s employee networks, also known as affinity networks, built on shared cultures and experiences. They are:
- African American/Affinity Forum
- Asian Pacific American Forum (APAF)
- Gay, Lesbian, Bisexual, Transgender & Ally Alliance (GLBTA)
- Hispanic Forum
- Disabilities Advocacy Network (DAN)
- Veterans Network (VN)
- GE Volunteers
- Women’s Network (WN)
- GE is addressing issues concerning equal representation for women in STEM. The goal is to achieve a workspace where employees want to work, grow, and reach the height of their careers.
- The firm is also committed to pay transparency and equity within its organization. It does not discriminate against employees who wish to disclose their compensation information or inquire about or discuss the pay of other employees or applicants.
- Netflix’s diversity and inclusion mission is to practice inclusion on-screen through diverse storytelling and also in the office by creating the right environment for a diverse workforce. It owes its creativity and innovative ideas to its diverse employee profile. The company also intends to cultivate a feeling of belonging among its employees and become allies with its resident communities.
- Netflix has 16 employee resource groups (ERGs) serving different communities. Some of these groups are Black@Netflix, Dream@Netflix, Accessibility, L’Chaim, SomosNetflix, among others.
- We are Netflix is a self-produced podcast created for employees to discuss prevalent issues in society and otherwise courageous conversations. This podcast has discussed topics ranging from racism to increasing representation.
- Netflix is committed to inclusion not only in the office but also on-screen. On-screen, Netflix is actively supporting minorities and underrepresented groups through its recent productions such as Special and The Black British Stories Collection, which was launched to tell black stories. The coming-of-age narrative of a gay guy with cerebral palsy is unique. A few of them are Babylon, The Boy Who Harnessed the Wind, Gone too Far, among others.
- Equity is an area of focus at Netflix. The business is committed to ensuring that its procedures are equal, particularly with regard to compensation and benefits. It takes into cognizance the needs of each employee in enacting its policies. Each year, it conducts a compensation review and resolves any pay disparities found. Benefits offered to its employees are also inclusive with considerations for parental leave and transgender healthcare.
- Sowing the Seeds, Netflix’s first-ever inclusion report documents the company’s steps and strategies towards equity and its achievements in 2020. This report is also a campaign for diversity and inclusion not only in the office but also on-screen. The idea is to ensure that inclusion takes root at Netflix.
- Amazon’s mission is to continue to commit to diversity and inclusion as it continues to grow with its diverse perspectives. The organization relies on the wealth of ideas, points of view, and backgrounds of its employees to provide innovative solutions to its customers and users.
- Amazon has 12 affinity groups with 87,000 members and hundreds of chapters around the world. A few of them are Body Positive Peers, Families@Amazon, Glamazon, Indigenous@Amazon, among others.
- The Global Mentorship Program, created by Amazon, is targeted at identifying, retaining, and developing diverse talents. This program provides 6,000 mentorship opportunities to young talents annually. Additionally, it assists women who are progressing into senior and technology-related jobs.
- Amazon has remained a staunch supporter of military personnel, veterans, and their families. It is expanding its initiatives to hire veterans and assist them in overcoming their obstacles. Currently, there are over 40,000 veterans and military spouses who work at Amazon. The firm is also committed to training 10,000 veterans in the UK in cloud computing skills through AWS Educate.
- Amazon is also committed to supporting and empowering small businesses and their entrepreneurs. Recently, the Amazon Saheli Store was launched in India to empower female business owners. As it builds partnerships with small-scale vendors, it is also developing technologies that will provide opportunities to them.
- Amazon is a member of WISE, a campaign launched in the UK. It was created to enhance women’s involvement and achievement in STEM fields. Additionally, the business just signed on as a signatory to the campaign’s Ten Steps Committee.