Best Companies For Multicultural Women [Public Accounting CPA Firms] 2011

DISCLAIMER: Working Moms CPA Exam Motivation is in no way affiliated or owned by Working Mother Media. This report was converted from a PDF created by Working Mother Media for the purposes of easier reading and review. If you wish to download the PDF version, please refer to the link below for the original report published by Working Mother Media.

Congratulations to the 2011 Working Mother Best Companies for Multicultural Women!

Allstate Insurance Company

JPMorgan Chase & Co.

American Express Company

KPMG LLP

CA Technologies

Macys Inc.

Chubb & Son

McDonald’s Corporation

Cisco*

New York Life Insurance Company

Citi

PepsiCo

Colgate-Palmolive Company

PricewaterhouseCoopers LLP

Deloitte*

Procter & Gamble Company*

General Mills*

Sodexo

Goldman Sachs Group, Inc.

State Farm Insurance

IBM Corporation*

Verizon Communications Inc

Walmart Stores, Inc.

Source: 2011 Working Mother Best Companies for Multicultural Women

*Top 5 Company

The Best Companies for Multicultural Women represent more than 2.6 million employees in

industries with over 44,000 worksites nationwide.

  1. Accounting
  2. Consumer Products
  3. Financial Services
  4. Food and Beverages
  5. Insurance
  6. Professional Services
  7. Retail
  8. Technology
  9. Telecommunications

Source: 2011 Working Mother Best Companies for Multicultural Women

Board of Directors Membership

At Best Companies, multicultural women hold 6% of board seats, on average, vs. 3% across the Fortune 500.

Source: 2011 Working Mother Best Companies for Multicultural Women

2010 Catalyst Census: Fortune 500 Women Board Directors; Catalyst defines multicultural women as women of color

5

Board of Directors Membership

At Best Companies, representation of multicultural women corporate boards of directors has grown two percentage points from 4% in 2009.

Representation of Board of Directors Membership (Three Year Trend)

% of Caucasian Men on Board of Directors

% of Multicultural Men on Board of Directors

% of Caucasian Women on Board of Directors % of Multicultural Women on Board of Directors

Source: 2011 Working Mother Best Companies for Multicultural Women

Total Workforce

All told, multicultural women make up 21% of total employees at the Best Companies vs. 17% of total employees nationwide.

Women

Men

Representation of Workforce

35%

21%

Women represent 56%

of total employees

at Best Companies

Men represent 44%

29%

15%

of total employees

at Best Companies

Multicultural EmployeesCaucasian Employees

Source: 2011 Working Mother Best Companies for Multicultural Women

2009The U.S. Equal Employment Opportunity Commission National Aggregate Report (includes black, Hispanic, Asian, American Indian, Hawaiian, as well as two or more races).

Representation by Job Level

As Multicultural women move up the corporate ladder, their representation shrinks significantly, even against their male Multicultural peers.

Representation of Workforce by Job Level

Total Employees

Managers

Senior Managers

Corporate Executives

Source: 2011 Working Mother Best Companies for Multicultural Women

8

Representation of Multicultural Women

However, on average, representation of multicultural women at the manager and senior manager levels increased one percentage point at the Best Companies over the past year.

% of Multicultural Women Managers

% of Multicultural Women Senior Managers

% of Multicultural Women Corporate Executives

Source: 2011 Working Mother Best Companies for Multicultural Women

Promotions

At Best Companies, multicultural women represented 13% of all management promotions, on average, last year.

Representation of Promotions

Promoted to Corporate Executive

Promoted to Senior Manager

Promoted to Manager

41% of

16% of

30% of

13% of

promotions* went

promotions* went

promotions* went

promotions* went

to Cauc. Men

to MC Men

to Cauc. Women

to MCW

*percentage of promotion by employee group represented out of total employees promoted to managers, senior managers or corporate executives

Attrition

At Best Companies, the attrition rate of multicultural women has held steady for the past three years. Additionally, hiring of multicultural women has outpaced attrition at the Best Companies for four years straight.

Representation of Attrition (Three Year Trend)

% of employees who left that are Caucasian Men

% of employees who left that are Multicultural Men

% of employees who left that are Caucasian Women % of employees who left that are Multicultural Women

2009

2010

2011

Source: 2011 Working Mother Best Companies for Multicultural Women

includes non-manager, manager, senior manager, and corporate executive (exempt and non-exempt) who left

Top Earners

• At Best Companies, multicultural women make up 11% of all top earners.

Representation of Top Earners

Total Employees

Top 20% Earners

Top 10% Earners

Source: 2011 Working Mother Best Companies for Multicultural Women

Recruitment & Retention

• Best Companies support initiatives specifically designed to recruit and retain multicultural women.

Which of the following do you offer specifically for Multicultural Women & Men?

Multicultural Women

Multicultural Men

Source: 2011 Working Mother Best Companies for Multicultural Women

Advancement Programs

Best Companies offer a wide array of programs to promote the advancement of multicultural women.

Which of the following do you offer specifically for Multicultural Women & Men?

Multicultural Women

Multicultural Men

0%

25%

50%

75%

100%

Percentage of Best Companies offering program

Source: 2011 Working Mother Best Companies for Multicultural Women

Recruitment

• Best Companies seek out the best in multicultural talent in numerous ways.

Number of Best Companies That:

21 • Advertise recruitment in magazines / media used by MCW

Connect with professional or school organizations for MCW

Sponsor recruitment events that cater to MCW

Post job opportunities on career websites geared towards

MCW

• Host recruitment events specifically for MCW

Source: 2011 Working Mother Best Companies for Multicultural Women

Manager Training

• Best Companies educate managers on the latest guidance on diversity and inclusion issues.

Number of Best Companies That Offer Training In:

21

• Generational Diversity

Gender Differences in Communication/Leadership Style

• Racial / Ethnic Communication/Leadership Style

• Microinequities (i.e., unconscious bias)

Source: 2011 Working Mother Best Companies for Multicultural Women

Diversity Education

• Best Companies offer diversity and inclusion programs to all employees.

Percentage of Best Companies* that offer programs to all employees

Microinequities Generational Diversity

75% 86%

Gender Differences in communication/

Racial / Ethnic communication /

leadership style

leadership style

81% 90%

Source: 2011 Working Mother Best Companies for Multicultural Women

*data reflects only those companies that offer the training programs

Manager Accountability

At Best Companies, managers are held accountable for their ability to both manage diversity issues and promote multicultural women.

2011 Working Mother Best Companies for Multicultural Women

Percentage of Best Companies that support these programs / policiesManagers rated on managing diversity issues

78%

Source: 2011 Working Mother Best Companies for Multicultural Women

Research Methodology

The Working Mother Best Companies for Multicultural Women were selected based on their answers to 375 questions on 2011 application,

which included topics such as:

  •  Company Profile
  •  Representation
  • Female Representation
  • Male Representation
  • Top Earners
  • Board of Directors
  •  Hiring, Attrition and Promotions
  • Hiring
  • Losses & Attrition
  • Promotions & Advancement
  •  Best Practices Essay
  •  Recruitment, Retention & Advancement
  • Use of Internal/External recruitment
  • Retention Programs
  • Diversity Task Forces
  • Affinity Groups
  • Mentoring / Sponsorship
  • Career Counseling
  • Management & Leadership Training
  • Networking
  • Succession Planning
  • Tuition Reimbursement
  •  Company Culture
  • Manager Accountability
  • Diversity-related Benefits and Policies
  • Employee Diversity Surveys
  • Grievance Policies
  • Internal & External Communication
  • External Diversity Activities
  • Philanthropic Giving

Source: 2011 Working Mother Best Companies for Multicultural Women

Research Methodology

Completed applications for the 2011 Best Companies for Multicultural Women were collected online from September 24 to November 19, 2010.

To qualify, companies must have at least 500 U.S. employees

Winning companies were selected from a pool of applicant companies and ranked numerically based on the data they provided in their application.

Winners were selected based on these applications and were announced in the June/July 2011 issue of Working Mother magazine and on workingmother.com/bestcompanies.

Statistics outlined in this report are aggregate based on the data from the 23 winning companies.

Source: 2011 Working Mother Best Companies for Multicultural Women

From flexibility and child care to the recruitment, retention and advancement of women, the Working Mother Research Institute is dedicated to tracking and promoting the best practices of today while also creating marching orders for tomorrow. WMRI’s goal is to give both working mothers and their employers the information they need to be truly family friendly.

Important Contacts:

Learn more at workingmother.com/bestcompanies/research

Source: 2011 Working Mother Best Companies for Multicultural Women

Scorecards

Each company that participates in a Best Companies initiative receives a free top-line summary

of how it compares to all applicants in across essential clusters of the initiatives extensive application.

Benchmarking

The most detailed data available, our benchmarking reports show how your

company rates, question-by-question, against all Best Companies. Custom comparisons are also available.

Custom Assessments

Let our researchers do the assessment for you. Our experienced team will turn your benchmarking data into a turnkey presentation showing where your company leads and lags against the Best Companies.

Interested in learning more? Contact Us

Source: 2011 Working Mother Best Companies for Multicultural Women

How do you rate in essential areas like diversity & inclusion, women’s

advancement and work-life programs? The Working Mother Research Institute has the answer. With one of the most comprehensive

databases available to Corporate America, WMRI has the data you need to make the right decisions to decision to serve both your employees and your bottom line.

To find out how your company rates, register today for one of our initiatives

  • Working Mother 100 Best Companies
  • Working Mother Best Companies for Multicultural Women
  • Working Mother Best Companies for Hourly Workers
  • Working Mother Best Companies for Women’s Advancement
  • Working Mother Best Companies for Kids
  • NAFE Top Companies for Executive Women
  • NAFE & Flex-Time Lawyers Best Law Firms for Women

Participation is free and confidential.

Interested in learning more? Visit wmmsurveys.com today!

Source: 2011 Working Mother Best Companies for Multicultural Women

23

Upcoming Schedule

Survey Opens

Survey Closes

Diversity Best Practices Assessment & Benchmarking Tool

May 2011

July 2011

2012 Working Mother Best Companies for Hourly Workers

July 15

October 21

2012 NAFE Top 50 Companies for Executive Women

August 12

October14

2012 Working Mother Best Companies for Multicultural Women

September 23

November 18

Diversity Best Practices Assessment & Benchmarking Tool

September 23

November 18

2012 NAFE & Flex-Time Lawyers Best Law Firms for Women

November 2011

January 2012

2012 Working Mother 100 Best Companies

December 2011

March 2012

Diversity Best Practices Global Initiative

Winter 2012

Winter 2012

Source: 2011 Working Mother Best Companies for Multicultural Women