Priceline Group – Workforce Diversity (2018)
WHEREAS: There is mounting evidence that diversity and inclusion are key components of business sustainability and strong human capital management: • A McKinsey & Company report found that companies with highly diverse executive teams had higher returns on equity and earnings performance than those with low diversity (“Diversity Matters,” McKinsey, 2015). • McKinsey research also showed that companies in the top quartiles for gender and racial/ethnic diversity were more likely to have above average financial returns. Companies with greater racial/ethnic diversity were 35 percent more likely to outperform (Ibid). • In a 2013 Catalyst report, racial and gender diversity was …
Stifel Financial – Workforce Diversity (2018)
WHEREAS: Stifel states that it “nurtures a culture which values the diversity of its workforce and encourages independent thinking in pursuing our clients’ goals.” And, it has “succeeded in attracting and retaining a wealth of talented associates who prefer a culture which rewards team-oriented, creative thinking.” However, Stifel does not disclose workforce data, nor descriptions of policies or practices with respect to recruitment, training, pay or advancement. As a result, shareholders have insufficient information to determine if the company has a diverse workforce, and to what degree the company is successful in expanding gender, racial and ethnic diversity in its …
National Oilwell Varco -Sexual Orientation Non-Discrimination (2018)
WHEREAS National Oilwell Varco does not explicitly prohibit discrimination based on gender identity or gender expression in its written employment policy; According to the Human Rights Campaign Foundation’s 2017 survey 83% of companies prohibit discrimination based on gender identity or expression We believe that corporations that prohibit discrimination on the basis of gender identity or expression have a competitive advantage in recruiting and retaining employees from the widest talent pool. According to an analysis of surveys conducted by the Williams Institute at the UCLA School of Law, sixteen to sixty eight percent of LGBT (lesbian, gay, bisexual and transgender) people …
SBA Communications – Sexual Orientation & Gender Identity Non-Discrimination (2018)
WHEREAS SBA Communications does not explicitly prohibit discrimination based on sexual orientation, gender identity or gender expression in its written employment policy; According to the Human Rights Campaign Foundation’s 2017 survey, 91% percent of Fortune 500 companies prohibit discrimination based on sexual orientation and 83% of companies prohibit discrimination based on gender identity or expression. We believe that corporations that prohibit discrimination on the basis of gender identity or expression have a competitive advantage in recruiting and retaining employees from the widest talent pool; According to an analysis of surveys conducted by the Williams Institute at the UCLA School of …
KeyCorp – Diversity Report (2018)
WHEREAS: A McKinsey & Company report found companies with highly diverse executive teams had higher returns on equity and earnings performance than those with low diversity. However, KeyCorp does not disclose comprehensive workforce data, or disclose results of diversity initiatives. As a result, shareholders have insufficient information to determine if KeyCorp has been successful in expanding diversity into senior roles over time. Leading financial services firms such as Bank of America, JP Morgan, U.S. Bancorp, and Bank of New York Mellon provide details of diversity programs and policies, and disclose workforce statistics consistent with data provided to the Equal Employment …
Travelers Companies – Diversity Report (2018)
WHEREAS: Travelers Companies states that “At Travelers, diversity is not just good business, it’s a business imperative” and “Diversity, and the ideas it brings, is essential for our success as an insurance company. Travelers values the unique abilities and talents each individual has to offer.” However, Travelers Companies does not disclose workforce data, or disclose results of diversity initiatives. As a result, shareholders have insufficient information to determine if Travelers Companies has a diverse workforce or has been successful in expanding diversity into senior roles. Leading insurance companies such as MetLife, Aflac, and Allstate Corporation provide details of diversity programs …
CVS – Workforce Diversity Report (2018)
WHEREAS: President and CEO Larry J. Merlo states: “In order to achieve and sustain breakthrough innovation, we must seek out, listen to and leverage the voices of our diverse customers, clients, colleagues and communities. To me, diversity and innovation go hand in hand.” However, CVS does not disclose comprehensive workforce data, or disclose results of diversity initiatives. As a result, shareholders have insufficient information to determine if CVS has a diverse workforce or has been successful in expanding diversity into senior roles. Without this information we believe the company cannot persuasively demonstrate that it is capturing the potential business value …
Cigna Corporation – Diversity Report (2018)
WHEREAS: Cigna states: “We’re committed to strengthening the demographic composition of our team and enhancing job satisfaction at all levels.” However, Cigna does not disclose comprehensive workforce data, or disclose results of diversity initiatives. As a result, shareholders have insufficient information to determine if Cigna has a diverse workforce or has been successful in expanding diversity into senior roles. Asset management firms have begun acknowledging the lack of gender diversity in senior roles and in August, 2016 seven global asset managers including Blackrock, Capital Group, and Fidelity, shared diversity statistics which show, on average, that women represent nearly one-half of …
First Republic Bank – Diversity Report (2018)
WHEREAS: A McKinsey & Company report found companies with highly diverse executive teams had higher returns on equity and earnings performance than those with low diversity. However, First Republic Bank does not disclose workforce data, or disclose results of diversity initiatives. As a result, shareholders have insufficient information to determine if First Republic Bank has a diverse workforce or has been successful in expanding diversity into senior roles. Leading financial services firms such as Wells Fargo, JP Morgan, and Bank of New York Mellon provide details of diversity programs and policies, and disclose workforce statistics consistent with data provided to …
PNC Financial Services – Workforce Diversity (2018)
WHEREAS: Chairman, President, and CEO Bill Demchak states: “PNC has worked through the years to foster a diverse and inclusive workplace.” And “There is plenty of evidence that tells us diverse teams are more successful. Diverse backgrounds drive different perspectives, which lead to more creative solutions.” However, PNC does not disclose comprehensive workforce data, or disclose results of diversity initiatives. As a result, shareholders have insufficient information to determine if PNC has been successful in expanding diversity into senior roles over time. Leading financial services firms such as Bank of America, JP Morgan, U.S. Bancorp, and Bank of New York …
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