Racial inequality is prevalent throughout society. In the realm of publicly traded companies, one clear illustration of racial inequality is the fact that only 4 of the Fortune 500 CEOs are African American. 0.8% of CEOs of Fortune 500 corporations are African American in a country where 13% of the population is comprised of African Americans. None of the 4 African American CEOs are women.
Racial equity within corporations is multi-dimensional. It is affected by corporate practices of diversity and inclusion, people impacted, products produced, and non-discrimination policies. Because of availability of data, this page focuses on practices of diversity and inclusion.
The 100 Best Workplaces for Diversity
Fortune partnered with Great Place to Work to analyze anonymous survey feedback representing more than 4.8 million US employees. The feedback was used to create a ranking of The 100 Best Workplaces for Diversity. The ranking is based 85% on what these employees themselves report in a 60-question survey. The remaining 15 percent of the rank is based on the diversity of the company’s overall workforce and its management, senior leadership and board, taking into account industry trends. The five highest ranked corporations, with at least 1,000 people, can be seen in the table below.
|Diversity Rank||Company||Percent of minorities|
Racial Justice Index
Fintech start up Open Invest created a Racial Justice indexing tool. The tool highlights corporations that hold themselves accountable to the public regarding their progress on employee diversity and their commitment to environmental justice. The tool is used by financial advisors and institutions to create portfolios for their clients.
Racial Equity Advisors
There are financial advisors which are leaders in racial equity investing. A list of racial equity financial advisor leaders includes:
Photo by Alex Nemo Hanse