MINNEAPOLIS, Sept. 10, 2020 /PRNewswire/ -- As part of its longstanding commitment to creating a culture that is diverse, equitable and inclusive, Target today released a detailed racial and gender breakdown of its team across all levels of the organization. Along with issuing the report, Target also announced plans to increase representation of Black team members across the Company by 20 percent over the next three years by sharpening its focus on advancement, retention and hiring.
"Inclusivity is a deeply rooted value at Target and we've had an ambitious diversity and inclusion strategy for many years for our guests and team. We know that having a diverse workforce and inclusive environment not only creates a stronger team, but also provides the perspectives we need to create the products, services, experiences and messages our guests expect," said Melissa Kremer, Chief Human Resources Officer. "The next step in this journey is being even more transparent with our progress by sharing a deeper look into the racial and gender diversity of our team, listening to our team's feedback along the way and using this information to drive a number of new commitments for our team."
Target's Diverse Team Target's Workforce Diversity Report, based on 2019 information, reveals that the Company's workforce of nearly 350,000 team members is 50% people of color and more than half (58%) are women. Nearly half (42%) of Target's Leadership Team is comprised of women and nearly a quarter (24%) are people of color. Additionally, Target has doubled the representation of Company officers of color in the past five years. On its Board of Directors, a third are women and nearly half are Latinx or Black. The Company also operates stores "that reflect the diversity of its guests: more than half of its stores are run by female leaders and a third are managed by leaders of color.
Making Systemic Changes to Increase Representation, Retention and Advancement of Black Team Members In addition to issuing its Workforce Diversity Report, Target announced plans to increase its representation of Black team members across the Company by 20 percent over the next three years. The Company has had diversity and inclusion goals for many years to drive equity for all team members, and results show that more work is needed to increase representation and advancement opportunities and reduce turnover with Black team members. To do this, the Company is making a number of systemic changes, including:
Leveraging its Stores, Supply Chain and HQ experiences to provide broader leadership pathways for Black team members to develop and advance;
Developing programs to hire and retain Black team members in career areas with low levels of representation, including technology, data sciences, merchandising and marketing;
Increasing Target's network of mentors and sponsors to help Black team members accelerate and advance their careers;
Ensuring Target's benefits and partnerships drive wellness and safety for Black team members;
Conducting anti-racist trainings for leaders and team members that educate, build inclusion acumen, and foster a sense of belonging
"The changes we're making are going to have a meaningful impact on the careers of our Black team members and prospective team members," said Kiera Fernandez, Vice President, Human Resources and Chief Diversity and Inclusion Officer. "A diverse and inclusive team at Target is one where there's equity in how we promote, retain and hire team members. Additional leadership development, training programs and mentorship for our Black team members, along with a focus in areas of the business where our Black representation is not as strong, will offer new career development opportunities for our team for years to come. And we know the support we have for our team helps extend our reach outside our walls, creating a ripple effect that impacts our guests and communities."
Today's announcement is a part of Target's commitment to social justice and racial equity and is being launched by the Company's Racial Equity Action and Change (REACH) committee. This group of senior leaders from across Target represents a diverse range of perspectives and expertise and guides the retailer's efforts to engage in the fight to end systemic racism in the United States.
Target's Workforce Diversity Report, also known as EEO-1 data, can be found at this link.
Miscellaneous Statements in this release regarding the Company's plans to increase representation, retention, and advancement of Black team members and prospective team members are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties which could cause the Company's actual results to differ materially. The most important risks and uncertainties are described in Item 1A of the Company's Form 10-K for the fiscal year ended Feb. 1, 2020 and Item 1A of the Company's Form 10-Q for the fiscal quarter ended May 2, 2020. Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update any forward-looking statement.
About Target Minneapolis-based Target Corporation (NYSE: TGT) serves guests at nearly 1,900 stores and at Target.com. Since 1946, Target has given 5% of its profit to communities, which today equals millions of dollars a week. For the latest store count or for more information, visit Target.com/Pressroom. For a behind-the-scenes look at Target, visit Target.com/abullseyeview or follow @TargetNews on Twitter.