Published 1 year ago.
About a 5 minute read.
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Companies cannot afford to ignore racial equity or neglect cultivating inclusive opportunity and mobility; their shareholders, employees, communities and customers are all paying attention to how they bring their commitments to life through action.
Just Capital’s just-released 2022 Workforce Equity and Mobility Ranking
identifies and assesses the top 100 companies in the Russell 1000 that perform
best on key disclosure and performance metrics that advance racial equity and
opportunity for their workers and communities.
The last few years have laid bare stark economic inequalities and racial
injustices across the US and their impact on the country’s workforce. JUST
Capital’s polling of the US public shows that a majority, across demographics,
are continuing to look to companies to take action to address income
and advance racial
The 2022 Workforce Equity and Mobility
developed with support from the Annie E. Casey Foundation, highlights the
companies that are leading on these interconnected issues. This new ranking
looks at which companies are disclosing key data points and performance metrics
that show how they’re taking concrete action to foster career opportunities and
development, as well as improve diversity, equity, and inclusion (DEI)
initiatives, particularly for young workers of color.
The companies featured in the 2022 Workforce Equity and Mobility Ranking are
setting clear DEI targets, adopting inclusive hiring practices, and prioritizing
career development. They recognize that these efforts are not just about
creating and filling any job, but about providing access to jobs that offer
opportunities for growth, fair pay, robust benefits and the flexibility and
support needed to manage work-life balance. Members of historically excluded
groups — particularly, people of color — are overrepresented in frontline
which do not always offer pathways to advancement and lack most of the elements
listed above. Building these pathways and increasing representation across and
within industries is imperative to ensure good jobs are within reach for those
frequently disconnected from career mobility.
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Were 2.4x more likely to disclose that they offered an apprenticeship
program to employees (53 percent compared to 22 percent).
Were 4.6x more likely to disclose a DEI target (62 percent compared to 13
Offered, on average, 13 more hours in training or career development per
employee (32 hours compared to 19 hours).
Were 7.3x more likely to disclose that they had a re-entry program (12
percent compared to 1.6 percent).
Were 8.2x more likely to have conducted a race/ethnicity pay gap analysis
(68 percent compared to 8 percent).
Offered, on average, 1.7 more weeks of parental leave for primary caregivers
(12 weeks compared to 10.3 weeks).
Offered, on average, 1.8 more weeks of parental leave for secondary
caregivers (8.5 weeks compared to 6.7 weeks).
The ranking highlights some of the policies that companies can enact to advance
racial equity, and opportunities for their employees and, by extension, within
society at large. Key findings include:
The first and essential step for any company is to center equity in its policies
and practices, rather than siloing it in a DEI team. From that starting point,
this ranking shows that companies can pursue multiple pathways to advance racial
equity, opportunity and mobility more broadly. The leaders of the ranking
outperform their peers, and one another, on multiple different metrics rather
than neatly aligning on a central set of policies and practices. One path is to
focus on workforce career development, while another prioritizes the provision
of necessary benefits (e.g. paid family leave) and workers’ work-life balance.
Yet another path is to pay employees fairly and provide opportunities for
advancement, such as apprenticeship
While each of these paths advances equity, opportunity and mobility, companies
can pursue an array of different approaches to improve their performance. All
companies, including those leading the ranking, have areas that require further
investment; and each company must continue to ensure that its policies are
carried out in practice and lead to meaningful progress across the organization
rather than serving as signaling. In fact, due to the relative lack of
performance-related disclosure on issues central to inclusive workforce
mobility, the metrics included in this ranking provide a useful signal of
companies’ intentions — but cannot guarantee their fulsome implementation across
For example, in recent weeks one company that ranked highly has been in the news
regarding discrepancies between corporate policies and actual practice,
particularly reports of fake job interviews with people of color for positions
that had already been filled to boost diversity statistics on paper. This
instance serves as a potent reminder that commitments to equitable career
development must become integrated within company culture, with their
implementation understood as the responsibility of leaders and employees alike,
in order for companies to follow through on their policies and values
Companies cannot afford to ignore racial equity or neglect cultivating inclusive
opportunity and mobility. Taking concrete actions to advance opportunities for
historically excluded groups such as young workers of color is an essential
business practice that supports recruitment, retention and internal mobility,
and taps into the talent and potential these groups bring to the workforce. Our
current moment, triggered by the COVID-19 pandemic, deepened through the
revitalized racial equity movement, and extended with recent demands for worker
advocacy and dignity, demands corporate action and transparency. Companies must
consider that their shareholders, employees, communities and customers are all
paying attention to how they bring their commitments to life through action.
Mastercard (Equity & Mobility ranking 2/overall Just Capital ranking 13)
Hewlett Packard Enterprise (47/75)
Published Aug 12, 2022 2pm EDT / 11am PDT / 7pm BST / 8pm CEST