PNC Financial Services – Workforce Diversity (2017)
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. 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 workforce data, or disclose results of diversity initiatives. As a result, shareholders have insufficient information to determine if PNC has a diverse workforce or …
Fifth Third Bancorp – Workforce Diversity (2017)
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. Fifth Third Bancorp states that “Engagement, diversity and inclusion are among the reasons people want to work here; we’re focused and intentional in making Fifth Third Bank a place where people can build their future, win together and impact lives.” However, Fifth Third Bancorp does not disclose workforce data, or disclose results of diversity initiatives. As a result, shareholders have insufficient information to determine if Fifth Third Bancorp has a diverse workforce or has …
Aflac – Workforce Diversity (2016)
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. Aflac states that “Our nation’s demographics are changing, and Aflac is reaching out to increasingly diverse accounts, customers and communities. After all, if we want these individuals and groups to do business with Aflac, we must also do business with them.” However, Aflac does not disclose workforce data, or disclose results of diversity initiatives. As a result, shareholders have insufficient information to determine if Aflac has a diverse workforce or has been successful in …
F5 Networks – Workforce Diversity (2017)
WHEREAS: McKinsey & Company found companies with highly diverse executive teams had higher returns on equity and earnings performance than those with low diversity, and a May 2014 study found gender diverse teams were better at driving “radical innovation”. F5 Networks states that it “recognize[s] that diversity and inclusion are critical for our success; that an individual’s background, experience, and perspective lead to new ideas and insights enriching F5’s performance, products, and services”. However, F5 Networks does not disclose workforce data, or share results of diversity initiatives. Shareholders have insufficient information to determine if the company has a diverse workforce …
Visa, Inc. – Workforce Diversity (2016)
WHEREAS: McKinsey & Company found companies with highly diverse executive teams had higher returns on equity and earnings performance than those with low diversity, and a May 2014 study found gender diverse teams were better at driving “radical innovation”. Visa states that “embracing diversity and supporting those who are underrepresented has become much more than a conversation about doing the right thing. Today [it] has become a business imperative and the companies who get that are winning in the market.” However, Visa does not disclose workforce data, or share results of diversity initiatives. Shareholders have insufficient information to determine if …
Citrix Systems – Workplace Diversity – (2016)
WHEREAS: McKinsey & Company found companies with highly diverse executive teams had higher returns on equity and earnings performance than those with low diversity, and a May 2014 study found gender diverse teams were better at driving “radical innovation”. Citrix states in its Code of Business Conduct that it “values employee diversity and equal opportunity for all”. Yet, information sufficient to allow investors to determine if the company has a diverse workforce, such as public reporting of EEO-1 data, is not disclosed. Citrix acknowledges that it “is rapidly expanding its business every day” and that its responsibility to be a …
Southwestern Energy – LGBT – 2016
WHEREAS Southwestern Energy Company 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 2014 survey, 61 percent of Fortune 500 companies prohibit discrimination based on sexual orientation, gender identity or expression, a historic high. 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 …
First Republic Bank – LGBT – 2016
First Republic Bank does not explicitly prohibit discrimination based on sexual orientation, gender identity or gender expression for all employees in its written employment policy. Current governance policies protect board members, however we believe these protections should extend to all employees. According to the Human Rights Campaign Foundation’s 2014 survey, 61 percent of Fortune 500 companies prohibit discrimination based on sexual orientation, gender identity or expression, a historic high. 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 …
JB Hunt – LGBT Non-Discrimination – 2016
WHEREAS JB Hunt 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 2014 survey, 61 percent of Fortune 500 companies prohibit discrimination based on sexual orientation, gender identity or expression, a historic high. 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 …
Adobe Systems – Workplace Diversity – 2016
WHEREAS: McKinsey & Company found companies with highly diverse executive teams had higher returns on equity and earnings performance than those with low diversity, and a May 2014 study found gender diverse teams were better at driving “radical innovation”. Adobe states that it “firmly believes a diverse workforce drives richer collaboration, innovation, and creativity” and is committed to achieving the longer-term outcome of a more representative workforce. We believe Adobe Systems customers are increasingly diverse. A diverse work force is more likely to anticipate and respond effectively to consumer demand. Yet, the ratio of male to female employees has been …
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