Marriott International, Inc. (MAR / NYSE) has been ranked fifth in Fortune magazine`s survey of the “50 Best Companies for Asians, Blacks and Hispanics” in Fortune`s August 3 issue.
“Marriott is proud to be recognized by Fortune,” said Brendan Keegan, senior vice president, human resources, Marriott International. “Marriott International continues to focus on diversity as a strategic imperative. We have a policy of opportunity deeply embedded in our corporate culture, and Marriott`s top management is fully committed to our company`s broad diversity initiatives,” said Keegan.
At the typical “best” company, minorities account for 11.7% of the board, 7.6% of corporate officers, 13.9% of officials and managers, 7.2% of the 25 highest-paid employees, 24.9% of the total work force, and 23.8% of new hires. Charity donations to programs that primarily benefit minorities average 35.3%, and 4.4% of purchasing is done with minority owned suppliers.
Fortune teamed with the Council on Economic Priorities to determine which companies are truly inclusive in hiring, promoting, and retaining people of color. Fortune and the CEP designed a survey to rank companies in nine key categories, five of them reflecting minority representation at various levels: the board of directors, corporate officers, officials and managers, the 25 highest-salaried employees, and the total work force. Companies were also asked to tell what percentage of minorities they hired within the past year and how many diversity programs (employee affinity groups, mentoring, or internship efforts) they have. The final two categories—the percentage of purchasing that goes to minority firms and the amount of charitable contributions to programs that primarily benefit minorities—indicated something about the companies` commitment to helping people outside their own walls. Each category was assigned a weight, with the greatest values given to those quantifying diversity programs and management representation. The CEP calculated averages and standard deviations for the categories, deriving an intermediate score for each company; the scores were weighted and combined into a final score that determined the company`s rank.
Surveys were sent to all companies in the Fortune 1000 database and to the 200 largest privately held companies; 128 responded. To be eligible for the list, companies had to complete six of the nine categories, including two of the three highest-weighted ones. Companies were penalized for each category they failed to complete, in accordance with its weight.