SPRINGFIELD, Mass., April 24, 2015 /PRNewswire/ -- DiversityInc. announced yesterday that Massachusetts Mutual Life Insurance Company (MassMutual) has achieved a place on its "Top 50 Companies for Diversity" list for the first time, after five years of working its way up on the 25 Noteworthy List. Additionally, for the second year in a row the company was named to the list of "Top 10 Companies for LGBT Employees."
"This is an extraordinary achievement for MassMutual," said Roger Crandall, Chairman, President and CEO. "We recognize that diversity and inclusion is a catalyst that fuels our growth and helps us achieve our purpose: to help people secure their future and protect the ones they love. We are proud of our more than 160-year history of meeting our commitments to our policyowners, and even more excited about our future growth as a diverse, inclusive and ultimately more innovative and responsive company."
MassMutual moved up from the 25 Noteworthy to DiversityInc's 2015 Top 50 Companies list this year driven in large part by the CEO's consistent commitment to diversity and inclusion, as well as continued strong representation of women in the top levels of the company. Additionally, MassMutual's employee resource groups played a factor in the company's recognition: participation in ERGs grew 20 percent over a year's time.
"This honor from DiversityInc. -- an organization recognized as a leader in diversity management -- is especially gratifying," said Lorie Valle-Yanez, Vice President and Chief Diversity Officer, MassMutual. "We are proud of the collective efforts of our company's leaders, managers and employees, all of whom are working together to forward diversity and inclusion here at MassMutual. Moreover, we are determined to maintain our momentum to become better as a company in understanding and helping meet the needs of an increasingly diverse customer base."
The company also made this year's "Top 10 Companies for LGBT Employees" list for the second year in a row. DiversityInc. cited a range of notable accomplishments that position MassMutual as a leader in supporting marriage equality and LGBT inclusion. These achievements include a 100 percent ranking on the Human Rights Campaign's Corporate Equality Index, strong support for transgender people in the workforce, the addition of Gender Transition Guidelines last year and the Pride employee resource group, which regularly hosts events promoting the company's commitment to the LGBT community.
Additionally, MassMutual has been recognized for the past several years for its strong commitment to diversity and inclusion by the National Association of Female Executives, Working Mother, LatinaStyle and Easter Seals.
"With more than 1,000 companies participating, the competition for a spot on the DiversityInc Top 50 and Specialty Lists was up over 30 percent this year," said DiversityInc Founder and CEO Luke Visconti. "Companies like MassMutual are recognizing the importance of diversity for corporate reputation -- which directly affects millennial-generation recruiting and retention. And whether you're talking about Silicon Valley, Ferguson, or Indiana, there's no denying that stories about how far we still need to come regarding diversity have been dominating the headlines in 2015."
For more information about MassMutual's commitment to diversity and inclusion, visit www.massmutual.com. To see why MassMutual made the list, the full list of companies on DiversityInc.'s 2015 Top 50 Companies for Diversity list and the DiversityInc. Specialty Lists, visit DiversityInc.com.
Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. The company has a long history of financial strength and strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyowners consistently since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company's strong and growing network of financial professionals helps clients make good financial decisions for the long-term.
MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, LLC, Member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.