JLL Commits to Comprehensive Workplace Diversity Reporting
March 24, 2017 // Boston, MA – Trillium Asset Management is pleased to announce that we have successfully withdrawn our workforce diversity shareholder proposal at Jones Lang LaSalle Incorporated (NYSE: JLL) following the company’s increased commitment to expand disclosure around diversity policies and programs, and release its annual EEO-1 workforce diversity data.
Trillium’s shareholder proposal requested that the company prepare a report adequate for investors to assess JLL’s strategy and performance pertaining to workforce diversity, including a chart identifying employees according to gender and race in the major Equal Employment Opportunity Commission-defined job categories. A McKinsey & Company report found companies with highly diverse executive teams had higher returns on equity and earnings performance than those with low diversity.
Prior to our engagement, JLL, like many of its peers, stated a strong commitment to fostering a diverse workplace and provided some information regarding its policies and programs yet provided limited metrics reflecting the progress of such commitment through its diversity initiatives.
As a result of our proposal, JLL shared its continuing efforts through its refreshed diversity and inclusion websites. With more than 77,000 employees, JLL’s diversity program outlines the company’s goal to attract and retain talent, expand the talent pipeline, and engage talent through mentoring programs. To further drive performance, JLL ties the compensation of its Americas Executive Council members to diversity and inclusion goals. In addition, in connection with our shareholder proposal, the company now makes its EEO-1 chart available further demonstrating the company’s commitment to driving diversity in the most transparent way possible.
“JLL is committed to providing great career opportunities for motivated and talented people to achieve their ambitions, regardless of gender, ethnicity, social background or orientation,” said Greg O’Brien, JLL CEO, Americas. “Embracing diversity is a strategic priority for our business around the world. We warmly welcome Trillium Asset Management’s constructive engagement and encouragement to us on this vitally important journey.”
We commend JLL for engaging in a productive dialogue on the lack of diversity in the financial services sector. Trillium believes that diversity, inclusive of gender and race, is an essential component of sound governance and a critical attribute to a well-functioning organization. “By making these advances in reporting, JLL has signaled a significant commitment to transparency in driving diversity and inclusion throughout the firm,” stated Brianna Murphy of Trillium Asset Management.
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