DiversityInc Ranks Merrill Lynch in the Top Ten Companies for Diversity
ANNUAL LIST NAMES “TOP 50 COMPANIES FOR DIVERSITY”; MERRILL LYNCH LEADS FINANCIAL SERVICES INDUSTRY.
Recognizing the firm’s strong commitment to diversity, DiversityInc has ranked Merrill Lynch (NYSE: MER) in the top ten of the publication’s annual “Top 50 Companies for Diversity.” Merrill Lynch, which is ranked seventh out of 50, is cited for its diverse pipeline of talent and strong employee resource groups.
“Diversity and inclusion are critical to the future of Merrill Lynch and we have worked very hard to create an innovative and collaborative environment where people are valued and comfortable joining because they know that performance is what matters,” said Subha Barry, managing director and head of Global Diversity and Inclusion for Merrill Lynch. “Being among DiversityInc’s top 10 companies puts Merrill Lynch among the best companies in America when it comes to diversity and inclusion and is a validation that the focus across our businesses and regions on these critical issues is paying off.”
The annual DiversityInc Top 50 Companies for Diversity competition, now in its eighth year, is an editorial process, entirely driven by metrics obtained in a detailed survey. Top 50 companies demonstrate consistent strength in four areas: CEO Commitment, Human Capital, Corporate and Organizational Communications, and Supplier Diversity. The DiversityInc Top 50 list is increasingly competitive; a total of 352 companies participated this year, up 10 percent from last year and up 100 percent since 2003. Thirteen companies appeared on the list for the first time, and 16 companies went up in ranking from last year.
“Top 50 companies have clarity of their absolute values of human dignity, demonstrating a global adherence to these core beliefs,” said Luke Visconti, partner and co-founder of DiversityInc. “These sustainable values drive margin.”
Merrill Lynch’s commitment to diversity and inclusion is backed by an executable plan and accountability for progress. A strategic framework comprised of eight areas that the firm believes can have the greatest impact on success serves as a global roadmap. These areas are:
* Assessment and diagnostics that surface best practices, research on diversity and inclusion and benchmarking against world-class companies.
* Employee professional networks that provide a sense of community and leverage the firm’s worldwide employee volunteers to assist in recruiting, retention and business development.
* Measurement and scorecards to ensure Merrill Lynch is tracking progress and focusing efforts on activities that generate positive change.
* Recognition and rewards, including the Leadership in Diversity & Inclusion award, for employees who demonstrate exceptional personal commitment and achievement.
* Awareness and leadership development programs that provide effective training across the organization for employees and managers.
* Marketing and communications that ensure the firm’s diversity and inclusion strategy is consistently and effectively understood internally and externally and engages employees in an ongoing dialogue about global diversity issues.
* Execution and accountability processes that standardize, track and evaluate diversity and inclusion initiatives across the firm.
* Governance checks and balances that coordinate and integrate the strategy and initiatives across the firm’s business units, regions, councils and committees.
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