Allstate Insurance Company Ranks 36 On 2013 DiversityInc Top 50 Companies For Diversity National survey trends include gains in board diversity and employee-resource groups
PRINCETON, N.J., April 24, 2013 /PRNewswire/ -- DiversityInc last night announced The 2013 DiversityInc Top 50 Companies for Diversity, with Allstate Insurance Company ranking number 36 on the list. The DiversityInc Top 50 includes companies from a wide range of industries whose leadership, procurement practices, communications and training best reflect the reality of the rapidly changing face of America. The full list can be found at www.DiversityInc.com/top50.
This year marks the eighth time Allstate has earned a ranking on the DiversityInc list. "Inclusive diversity is a key business strategy and competitive advantage for Allstate, said Michael Escobar, vice president, chief diversity & organization effectiveness officer for Allstate. "We are creating a workplace where you can pursue your purpose, be your best, and have meaningful work and opportunities to grow. When individual differences are valued, that exemplifies the true spirit of inclusive diversity for our company."
"On the heels of the demographically revealing 2012 presidential election, it is clear that U.S. companies are increasingly conscious of the importance of diversity," said Luke Visconti, CEO of DiversityInc. "We are very encouraged to see more companies applying for this distinction and embracing diversity more deeply than ever. We also note a continued positive correlation between achievement in diversity and overall positive stock performance."
Both the 2013 and the 2012 DiversityInc Top 50 lists outperformed the S&P 500 on a one-, three- and five-year basis.
DiversityInc 2013 survey results show that Top 50 companies have:
- 76% more Blacks, Latinos and Asians on their boards of directors than the Fortune 500
- 54% more women on their boards of directors than the Fortune 500
- 43% more women in the top level (CEO and direct reports) than the Fortune 500
- 16.6% more Blacks, Latinos and Asians in the top level (CEO and direct reports) than the Fortune 500
- 14 times more CEOs who are Black, Latino or Asian than the Fortune 500 (16% of Top 50 CEOs are Black, Latino or Asian vs. 1.2% for the Fortune 500)
In addition, DiversityInc notes that Top 50 companies have 51% more employees in resource groups than they did five years ago and donated 53% more to multicultural charities than they did five years ago.
DiversityInc also announced a number of Specialty Lists, all of which can be viewed in their entirety at www.DiversityInc.com.
The process of determining The DiversityInc Top 50 Companies for Diversity is based completely on empirical data. Participation in the survey is free and companies that do business with DiversityInc receive no preferential treatment. In order to participate, an organization must have at least 1,000 employees and fill out a detailed, 300-question survey, which is divided into four equally weighted areas: CEO Commitment, Human Capital, Corporate and Organizational Communications, and Supplier Diversity. Each company is judged within its own industry and each application is vetted by DiversityInc staff. DiversityInc requires notarized CEO sign-offs on submissions from companies where it has not met with the CEO directly. For the 2013 survey, 893 companies participated. For more information, visit DiversityInc's survey FAQ. Companies interested in participating in 2014 should contact top50@DiversityInc.com.
DiversityInc is the leading source of information on diversity management. The company is a consultancy and publishes two websites, www.DiversityInc.com and www.DiversityIncBestPractices.com, as well as a magazine, published five times a year. DiversityInc also produces diversity events, which average more than 600 attendees from 200 companies and have featured more than 20 CEOs of major corporations.
The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer, serving approximately 16 million households through its Allstate, Encompass, Esurance and Answer Financial brand names and Allstate Financial business segment. Allstate branded insurance products (auto, home, life and retirement) and services are offered through Allstate agencies, independent agencies, and Allstate exclusive financial representatives, as well as via www.allstate.com, www.allstate.com/financial and 1-800 Allstate®, and are widely known through the slogan "You're In Good Hands With Allstate®." As part of Allstate's commitment to strengthen local communities, The Allstate Foundation, Allstate employees, agency owners and the corporation provided $29 million in 2012 to thousands of nonprofit organizations and important causes across the United States.
SOURCE Allstate Insurance Company