MGM MIRAGE has been named to Black Enterprise magazine’s inaugural list of the “30 Best Companies for Diversity.” The magazine recognized MGM MIRAGE for its “commitment to making diversity a business imperative” in its operations.
MGM MIRAGE’s selection follows an extensive survey conducted by BE editors of 1,000 of America’s largest publicly traded companies and 50 leading global companies with significant U.S. operations. Companies were evaluated in four key areas: corporate procurement, corporate governance, total workforce diversity and minority representation in senior management. The editors also reviewed diversity programs and consulted with diversity experts and corporate diversity officers to determine the list of best companies for diversity.
“The companies that appear on our diversity list have made significant progress toward inclusion at all levels, from the mailroom to the boardroom,” said Black Enterprise Founder & Publisher Earl G. Graves Sr. “The Black Enterprise 30 Best Companies for Diversity sets the standard for the rest of corporate America. Their commitment to diversity and inclusion are essential to maintaining African Americans’ gains in employment, corporate leadership, earning power and business ownership.”
According to MGM MIRAGE Chairman and CEO Terry Lanni, recognition by Black Enterprise is a significant accomplishment for the company and its 70,000 employees. “We are proud that our diversity initiative is being recognized by such a prominent publication,” he said.
“We realize that we have only just begun this endeavor, and that our commitment to diversity will require perseverance. We will continue to reevaluate our systems and methods in our assimilation of the best diversity practices and our quest for excellence in diversity as in all other aspects of our business,” said Lanni.
In 2000, MGM MIRAGE became the first company in the gaming industry to launch a voluntary diversity initiative. To provide recommendations regarding the company’s diversity policy and to monitor implementation of the Diversity Initiative, a board level Diversity Committee was established. This committee is chaired by Alexis Herman, former U.S. Secretary of Labor. Including Herman, three African Americans and one Hispanic serve currently on the company’s board of directors.
In 2004, almost 55 percent of the company’s workforce was comprised of ethnic minorities, with 31 percent in management positions. Senior management executives include Lorenzo Creighton, President of New York-New York, the only African American to oversee a hotel/casino property on the Las Vegas Strip.
The company’s policies require minority participation in all bids for construction and supplier contracts. Between 2001 and 2004, the amount of money that MGM MIRAGE spent with minority-, women- and disadvantaged-business enterprises increased 218 percent.
The full list of the BE 30 Best Companies for Diversity will be released on June 28, 2005 in the July issue of the magazine.