Travelers Fully Discloses Workforce Diversity Data after Multi-year Engagement
January 23, 2020// Boston, MA
Trillium Asset Management is pleased to announce that after four years of engagement, Travelers Companies (NYSE: TRV) has begun releasing its entire EEO-1 chart with a full breakdown of all employees categorized by gender and race/ethnicity. This comes in response to a 50.9% vote at the Travelers 2019 annual meeting on a shareholder proposal on workforce diversity – a strong message to the board from investors to strengthen its workplace diversity reporting and performance.
The newly disclosed chart gives a snapshot of Travelers’ 2019 workforce by role, gender, and ethnic/race status. With more than 27,000 employees, Travelers reports that 9% of Executive/Senior Level Officials are minorities and 31% of all executive leaders are women. The larger report also discusses Travelers’ continued efforts in diverse hiring, recruiting, leaderships training, diversity networks, and supplier diversity. In 2017 and 2018 more than one third of shareholder votes (36%) supported the proposal.
We commend Travelers for engaging in a productive dialogue and recognizing the need to report and track progress towards greater 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. Senior executive diversity is also critical to addressing gender and racial pay gaps. By making these advances in diversity reporting, Travelers has signaled a significant commitment to transparency in driving diversity and inclusion throughout the firm.
For more information: Brianna Murphy, Trillium Asset Management, 503-953-8346, bmurphy@trilliuminvest.com
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