Best Companies for Latinos
A look at the best in the country and why other firms should follow their lead.
Dr. Robert Rodriguez is the founder of DRR Advisors, LLC, a firm specializing in Latino talent management programs. He has worked with over 100 corporations on their Latino initiatives and is considered by many to be the nation’s leading authority on corporate Latino efforts. He is the author of Latino Talent: Effective Strategies to Recruit, Retain and Develop Latino Talent.
I consider myself very privileged to be a part of the Latino talent collective in corporate America. Membership in this group has granted me unique access to the front lines of the Latino talent agenda in big companies. Also, because I’m a consultant, my perspective into what is happening becomes more powerful because it is undiluted by internal corporate politics.
Through my experiences, I have gained a sense of the current narrative and the trends associated with corporate efforts as they related to Latino professionals. To me, three trends have clearly emerged. First, not only do corporations see the Latino community as a catalyst for economic growth, but now they view Latino professionals as their next great source of intellectual capital. They have finally come to realize that, like it or not, the workforce of the future will have an increasingly Latino identity. As a result, investments in Latino talent initiatives are starting to mirror investments that were in the past only made for Hispanic marketing efforts.
A second trend is the growing influence of Latino corporate executives. Clearly, the days of the invisible corporate Latino executive are numbered. Fortunately for all of us, Latino executives are no longer hiding in plain sight. Today’s Latino executives see themselves as provocateurs of the status quo. While they may have been the only Latino executive in the room when they took on certain roles to increase their influence and responsibility, they are vowing to not be the only Latino in executive management when they leave.
That brings us to the last trend, the trend that is the focus of this special section of Latino Leaders. Namely, that there are clearly some companies that have surged to the front with regard to their commitment and approach to Latino talent programs. The rigor and sophistication being applied by these companies when it comes to initiatives targeting Latino professionals are far more advanced than most other companies. Because of their innovative and forward-thinking approach to internal Latino programs, they have established a gap between what they are doing and what the rest of the companies are doing. This gap is allowing them to capture a greater share of the Latino talent pool. And what should be of concern to most corporations, their approach is allowing these companies to widen the gap between themselves and everyone else.
In this section, you’ll see exactly what these companies are doing to successfully recruit, retain and develop Latino talent. Many of their initiatives are not even on the radar for other companies, and this gives them a competitive advantage in the search for Latino talent.
You’ll read how these companies have successfully launched internal Latino leadership development programs, how their Latino executives have established internal caucuses to drive their firm’s Latino talent efforts, and why they are holding internal summits designed to bring together their internal Latino leaders for professional development and exposure to top executives.
To the rest of the companies not on this list, I encourage you to learn from their example. They have much to teach the rest of us. This way, before you can say, “we’re doing the best we can when it comes to Latino talent,” at least now you’ll have a better sense of what “the best we can” looks like.
Celebrating Diversity Leadership
Latino Leaders magazine has been doing research and writing articles for more than 15 years about companies whose strategies, policies and outreach to the Latino Community set an example of inclusiveness. We have also constantly published exclusive interviews with the most successful diversity directors and influential CEO’s whose mission to integrate Latinos into their work force and supplier base are an example to follow. Our valued partners, such as ALPFA and the USHCC, have also provided a wonderful compass when determining the pulse of diversity in corporate America.
This year we have partnered with ALPFA and DDR Advisors for a special feature on Talent Acquisition. With their input we are honored to introduce for the first time our Best Companies for Latinos 2016 index – featuring those corporations that over the years have consistently employed Latino talent and gone the extra mile to establish programs aimed to increase Latino presence and interaction. This research was based on the following main areas: Outreach and retention of Latino employees with diversity across all levels (C-Suite to entry) - affinity groups and internal strategies to embrace and integrate Latino labor force, supplier diversity programs that encourage minorities to apply and deliver goods and services and external strategies and programs aimed to attract Hispanic Talent and customers.
In addition, we present interviews with two prominent leaders who truly believe the importance of having Latinos in the workplace - Francis Hondal, EVP, Credit & Loyalty Solutions, MasterCard, who believes in building the right team and delivering results, and Northwestern Mutual’s Jorge Quezada, Director of Diversity & Inclusion – Leadership Development. Quezada is responsible for heading the development of leaders and securing the success of the Diversity and Inclusion principles and practices for the company.
Lastly, we present highlights of our Latino Talent Panel Acquisition. We introduce Victor Arias Jr., Senior Client Partner in the Dallas office of Korn Ferry, Raymond Arroyo, President of ALPFA Solutions, and Salvador Mendoza, Vice President of Diversity & Inclusion at NBC Universal Media, LLC. All respected voices in diversity matters, they share with us their visions on the current state of Latino talent acquisition in Corporate America, and why, now more than ever, it is key to reach out. Congratulations to our featured leaders and the Best Companies for Latinos 2016.
Best Companies for Latinos 2016
Research and Story by Joseph Treviño
Name: American Telephone & Telegraph
Headquartered in: Dallas, Texas
Established in: 1983
Outreach and Retention of Latino Employees: AT&T scored the highest rating in the 2015 Hispanic Association on Corporate Responsibility (HACR) Corporate Inclusion Index by achieving a near perfect score of 95 points (it has done so for the past five years).
Diversity: The brilliant Ralph de la Vega is a great example of the company’s top leadership, having also served on several prominent boards. AT&T’s Hispanic ERG, which is called HACEMOS, has been widely recognized as one of the strongest ERGs in corporate America.
Suppliers Diversity: AT&T is a member of the Billion Dollar Roundtable, a prestigious group of 20 major companies that spend $1 billion or more with minority business enterprises. AT&T is also a member of the BDR, NMSDC and WBENC.
Name: Comcast NBCUniversal
Headquartered in: Philadelphia, Pennsylvania
Established in: 2011
Outreach and Retention of Latino Employees: A media giant, Comcast NBCUniversal is also grand when it comes to diversity and hiring Latinos (think Telemundo and other ventures). In the HACR Corporate Inclusion Index, Comcast earned a ranking of 85, an impressive improvement of 25 points over the previous five years.
Diversity: Myrna Soto is Senior Vice President and Global Chief Information Security Officer of Comcast Corporation. She also serves on the boards of CMS Energy and Spirit Airlines.
Suppliers Diversity: In 2015, Comcast reached over $1 billion in supplier diversity spending and was inducted into the Billion Dollar Roundtable. The company is also a member of the NMSDC and of WBENC.
Name: The Coca-Cola Company
Headquartered in: Atlanta, Georgia
Established in: 1892
Outreach and Retention of Latino Employees: Coca-Cola achieved a stellar score of 90 in the HACR Corporate Inclusion Index, with 19 percent of its U.S. workforce comprised of Latinos (they make-up 21 percent of its refreshments workforce). For decades, Latino publications and organizations have awarded the company for its programs geared toward Latinos.
Diversity: Latinos make up 8 percent of the company’s corporate headquarters workforce. Maria Elena Lagomasino sits on the board, while well-known Latinos Roberto Goizueta (former CEO) and José Octavio Reyes Lagunes have been among the company’s top echelon.
Suppliers Diversity: Terrez M. Thompson Vice President of Global Supplier Diversity says the company is hungry to meet the diverse suppliers and invites them to go to http:// supplierdiversity.coke.com The company has supported Nely Galan’s Adelante Movement, a program intended to empower Latinas.
Name: Kaiser Permanente
Headquartered in: Oakland, California
Established in: 1945
Outreach and Retention of Latino Employees: Kaiser Permanente consistently nabs high marks on this area. It earned the top spot on DiversityInc’s 2016 Top 50 Companies for Diversity list, reaching No. 1 for the second time since debuting on the publication’s list in 2006.
Diversity: Latinos, Asians and African-Americans make up 66.6 percent of its total management. The company has two Latinos in its board, Cynthia A. Telles and Ramón Baez, and has at least two other Latinos in top leadership positions.
Suppliers Diversity: Kaiser Permanente belongs to the Billion Dollar Roundtable, a prestigious group of 20 major companies that spend $1 billion or more with minority business enterprises.
Headquartered in: Bloomfield, Connecticut
Established in: 1982
Outreach and Retention of Latino Employees: One of the globe’s health service leaders scored a remarkable 90 points in the 2015 HACR Corporate Inclusion Index. Rosanna Durruthy, Cigna’s Chief Diversity Officer, says that diversity is essential, as well as the health of its customers.
Diversity: HACR congratulates Cigna on its diversity efforts, procurement and scoring high in the Inclusion Index. Also, Roman Martinez IV, a private investor, sits on the board.
Suppliers Diversity: Cigna’s supplier diversity program dates to the 1970s. In 2007, the company purchased $39.3 million in goods and services from minority- and women-ownedcompanies from across the country.
Name: Wal-Mart Stores, Inc.
Headquartered in: Bentonville, Arkansas
Established in: 1962
Outreach and Retention of Latino Employees: As the biggest retailer in the world, Walmart also leads in doing outreach, hiring and retaining Latino employees. Its Diversity Report says 13.54 of its workforce is Latino. It consistently holds events with its own Hispanic Latino Associate Resource Group (HLARG).
Diversity: Executives and managers who are Latinos make up 7.22 percent of Walmart (mid-level officers and managers make-up 10.65 percent). The company launched an internal caucus of its most senior Latino executives to help drive the Latino talent agenda.
Suppliers Diversity: Walmart belongs to the exclusive Billion Dollar Roundtable, which celebrates corporations that have spent $1 billion or more with minority- or women-owned businesses. Latino suppliers are countless and growing.
Name: Northwestern Mutual Life Insurance Company
Headquartered in: Milwaukee, Wisconsin
Established in: 1857
Outreach and Retention of Latino Employees: Hosts annual Hispanic Summit focused on financial representatives focused on the Hispanic market. 300+ member employee resource group (H-ERG) focuses on employee development, business impact, and community outreach. Leading sponsor of Soledad O’Brien’s “Latino in America” tour.
Diversity: Strong sponsor of several Hispanic non-profit organizations, including ALPFA, National Hispanic Corporate Council and HACR. Diversity Employers magazine named Northwestern Mutual on its list of the “Top 100 Employers.”
Suppliers Diversity: The mission of the Supplier Diversity program at Northwestern Mutual is to develop mutually beneficial relationships with historically underrepresented businesses as a way of strengthening its overall supply base, providing the best value to their policy owners, and creating lasting impacts in communities.
Name: Target Corporation
Headquartered in: Minneapolis, Minnesota
Established in: 1902
Outreach and Retention of Latino Employees: In 2014 the HACR Corporate Inclusion Index awarded an impressive 85 points to Target. Latina Style consistently includes Target in its 50 best companies, and The Human Rights Campaign gave it a score of 100 on its 2014 Corporate Equality Index.
Diversity: Target’s board includes at least two Latinos: Media mogul Mónica Lozano and the former, Kenneth L. Salazar, U.S. Secretary of the Interior. The company is turning to Latinos to get to the next level.
Suppliers Diversity: “By investing in these suppliers, we demonstrate our commitment to building strong partnerships to ensure broader, more innovative assortments, economic development and quality of life for the communities we serve,” says Brian Cornell, Chief Executive Officer.
Name: PepsiCo, Inc.
Headquartered in: Purchase, N.Y.
Established in: 1965
Outreach and Retention of Latino Employees: The 2015 Hispanic Association on Corporate Responsibility (HACR) Corporate Inclusion Index awarded 90 points to PepsiCo, one of the highest ratings of any company. Hispanic entities continuously recognize the company as being one of the best for providing opportunities to Latinos.
Diversity: PepsiCo has an internal Latino Leadership Development program called “Ascender,” a year-long plan that includes professional development, mentoring and exposure to corporate executives. The course targets high potential, mid-level Latino leaders.
Suppliers Diversity: In 2015, PepsiCo spent an estimated $1.4 billion with suppliers that were minority- or womenowned enterprises in the United States. This includes Tier 2 spend reported by non-diverse suppliers.
Name: Microsoft Corporation
Headquartered in: Redmond, Washington
Established in: 1974
Outreach and Retention of Latino Employees: Latinos make up 5.5 percent of its workforce, according to Microsoft’s 2016 report. Microsoft’s Latino/Hispanic Employee Resource Group (HOLA) seeks to educate and connect the company to the Latinos communities and enable Hispanics to realize their full potential.
Diversity: More than 1,000 employees are members of Microsoft’s HOLA, which has chapters in Washington, Florida, California, Texas and North Carolina. Its aim is to build a pipeline for advancing Latinos.
Suppliers Diversity: Microsoft spent more than $2.5 billion working with suppliers that are minority-, disabled-, veteran- and woman-owned businesses in fiscal year 2016. Microsoft also belongs to the prestigious Billion Dollar Club.
Headquartered in: London, England
Established in: 1989
Outreach and Retention of Latino Employees: Fortune magazine ranks EY as one of the “100 Best Companies to Work For.” It may be one of the only top four firms to host a periodic Latino Employee Summit. The last one was in 2015 and included about 250 mid-level Latino leaders.
Diversity: Stephen Howe Jr., the Managing Partner of EY, told Latino Leaders, “we see more and more Latinos entering the workforce, becoming successful entrepreneurs, and exceptional leaders. We know we need to recruit more Latinos and increase our focus on the Latino community.”
Suppliers Diversity: The EY website says it is “committed to maintaining a diverse supplier base and building relationships with suppliers who reflect the market, clients and communities we serve. We seek to identify, develop and do business with diverse suppliers.”
Name: General Motors Company
Headquartered in: Detroit, Michigan
Established in: 1908
Outreach and Retention of Latino Employees: A classic bran and a giant in the automobile industry, General Motors also made the HACR Corporate Inclusion Index, nabbing a stellar rating of 95, one of only three other companies to do so. It increased by 20 points from last year.
Diversity: GM has had several top Latinas (Grace Lieblein, Cynthia Telles). It does an outstanding job of supporting Hispanic education in STEM and actively recruiting Hispanics for career opportunities at the company.
Suppliers Diversity: A member of the Billion Dollar Roundtable, GM has one of the highest levels of supplier diversity spending at $6.6 billion annually, and is a member of both NMSDC and WBENC.
Name: Intel Corporation
Headquartered in: Santa Clara, California
Established in: 1968
Outreach and Retention of Latino Employees: With 8.1 percent of its employees being Latino, Intel is on a mission to achieve 45 percent of diverse hiring by the end of 2016. It has a lofty goal: to go beyond tracking retention and achieve 100 percent pay parity by the next quarter.
Diversity: The Intel Hispanic Leadership Council, comprised of Intel’s senior-most Hispanic executives help in the development and advancement of Hispanic leaders – a nine-month leadership program is specifically designed for Latinos.
Suppliers Diversity: Between January and June of 2016, Intel had spent $125 million with diverse suppliers and was shooting for a goal of $400 million this year. The company wants to achieve $1 billion in annual spending by 2020.
Headquartered in: Amstelveen, Netherlands
Established in: 1987
Outreach and Retention of Latino Employees: Lynne Doughtie, Chairman and CEO of KPMG LLP, says, “We are intentional about ensuring that diversity and inclusion objectives radiate throughout our entire organization. These are business goals with business leader accountability.” KPMG is also intentional about its close relationship with ALPFA.
Diversity: Doughtie says it is serious about including Latinos in the company. “We currently have employees serving on local ALPFA boards, and many who are members. Our members benefit from the supplemental career and professional development initiatives.”
Suppliers Diversity: DiversityInc ranked KPMG No. 11 among the Top Companies for Supplier Diversity (2016), which recognized the company’s growth in spending with diverse businesses. For fiscal year 2015, it allocated 22 percent of its procurement spending on diverse businesses.
Name: Massachusetts Mutual Life Insurance Company
Headquartered in: Springfield, Massachusetts
Established in: 1851
Outreach and Retention of Latino Employees: MassMutual has a Partners Mentoring Program in which employees with high potential are matched with senior executives as well as a Reverse Mentoring Program in which millennials mentor senior leaders. It has maintained a diversity and inclusion strategy since 2008.
Diversity: Patricia Diaz Dennis, one of the most respected Latinas in the corporate world, sits on the MassMutual board. The company has Lorie Valle-Yañez as Vice President and Chief Diversity Officer and has partnered with ALPFA.
Suppliers Diversity: MassMutual actively seeks diverse suppliers from underserved communities for inclusion in competitive bids. Diverse businesses are defined as for-profit, U.S. based and at least 51 percent owned by a woman, ethnic minority, LGBT, veteran and/or individual(s) with a disability.
Name: State Farm Mutual Automobile Insurance Company
Headquartered in: Bloomington, Illinois
Established in: 1922
Outreach and Retention of Latino Employees: Many Latino leaders and experts recognize State Farm’s achievements in this field like Latina Style Magazine, which included the company in its 2016 Latina Style 50. The 2015 HACR Inclusion Report gave the company a respectable rating of 80.
Diversity: Dan E. Arvizu, the Director of the National Renewable Energy Laboratory, sits on the State Farm board. The company has a Diversity and Inclusion Vision geared toward “a workplace known for inclusiveness, opportunity and personal development.”
Suppliers Diversity: According to the State Farm website, “the mission of Supplier Diversity at State Farm is to identify and encourage equal opportunities for businesses owned by minorities, women, and persons with disabilities to contribute to our overall goal.”
Name: Macy’s, Inc.
Headquartered in: Cincinnati, Ohio
Established in: 1858
Outreach and Retention of Latino Employees: Macy’s has made Latinos a key factor not only in its marketing efforts, like their new Thalia line, but also has been named to the Million Dollar Club by the United States Hispanic Chamber of Commerce.
Diversity: The company has one of the most diverse boards, including Elisa D. Garcia as its Chief Legal Officer. In La Voz it has a vibrant ERG committed to developing Latino leaders.
Suppliers Diversity: CEO Terry Lundgren says Macy’s is serious about diversity, and to prove it in 2015 purchases from minority- and women-owned businesses totaled approximately $1.1 billion – surpassing the billion-dollar mark for the second consecutive year.
Name: Bank of America
Headquartered in: Charlotte, North Carolina
Established in: 1904
Outreach and Retention of Latino Employees: U.S. Hispanic Chamber of Commerce (USHCC) recognized Bank of America as for its Hispanic/Latino Organization for Leadership & Advancement (HOLA) as being one of the nation’s top ERGs. Of its U.S. workforce, 46 percent of its people are of diverse races and ethnic backgrounds.
Diversity: Bank of America has partnered with highly respected organizations like the Association of Latino Professionals For America (ALPFA), it holds its Hispanic Latino Leadership Summit and it has media mogul Monica Lozano in its board.
Suppliers Diversity: The company belongs to the prestigious Billion Dollar Roundtable. In 2014 it spent $2.5 billion with diverse businesses, and in 2015 it celebrated the 25th anniversary of the highly respected Supplier Diversity and Development program.
Name: Dell EMC
Headquartered in: Round Rock, Texas
Established in: 2016
Outreach and Retention of Latino Employees: According to Dell’s website, “Adelante is Dell’s Hispanic Employee Resource Group. Dedicated to the true essence of diversity. Adelante seeks to celebrate the contributions made by Hispanics at Dell in an effort to aspire all to greater heights.”
Diversity: Christine Cantarino is Dell’s Executive Director of Global Process Quality and Standards, Supply Chain Operations, Ed Loya is Senior Vice President, Human Resources. Then there’s the already mentioned Adelante, the company’s ERG group.
Suppliers Diversity: Belonging to the elite Billion Dollar Roundtable, which celebrates corporations that have spent $1 billion or more with minority- or women-owned businesses, Dell is almost in a league of its own when it comes to supplier diversity.
Name: Johnson & Johnson
Headquartered in: New Brunswick, New Jersey
Established in: 1886
Outreach and Retention of Latino Employees: Scoring an outstanding 90 in the HACR Corporate Inclusion Index, Johnson & Johnson’s outreach to Latinos is exemplary and worthy of following. The United States Hispanic Chamber of Commerce (USHCC) recognized the company as having the nation’s top Latino Employee Resource Group (ERG).
Diversity: William D. Perez sits on the board while Denice Torres is the Chief Strategy and Business Transformation Officer. The Hispanic Organization for Leadership and Achievement (HOLA) optimizes and leverages Johnson & Johnson’s internal and external resources.
Suppliers Diversity: The United States Hispanic Chamber of Commerce (USHCC) named Johnson & Johnson to its Million Dollar club for demonstrating its commitment to minorities and women, while the company is also a member of the prestigious Billion Dollar Club.
Name: The Prudential Insurance Company of America
Headquartered in: Newark, New Jersey
Established in: 1875
Outreach and Retention of Latino Employees: Prudential scored a respectable 80 in the 2014 HACR Corporate Inclusion Index. The company is consistently ranked as one of the best places for Latinos to work. Formed in 1995, the ERG Hispanic Heritage Network seeks to articulate the Latino viewpoint.
Diversity: Prudential has not one, but two members in its board of directors. There’s Gilbert F. Casellas, Chairman of OMNITRU and George Paz, Chairman and Chief Executive Officer. He is with Express Scripts Holding Company.
Supplier’s Diversity. According to its website, “Prudential is committed to providing meaningful opportunities for qualified diverse vendors to compete for business. The company recognizes that purchasing products and services from businesses that reflect the demographics of our markets contributes to the sustainability of communities, customers and Prudential.”
Name: Capital One Financial Corporation
Headquartered in: Tysons Corner, Virginia
Established in: 1994
Outreach and Retention of Latino Employees: Capital One is making strides in recruiting, retaining and training Latinos as noted by Latina Style in their 2015 Top 10 Employee Resource Groups of the Year, Hispanic Network of Capital. The company’s goal is for inclusion at a deeper level.
Diversity: Capital One has a good Chief Diversity and Inclusion Officer in Lane Hopkins and a great ERG. It also has Emilia Lopez, Managing Vice President of U.S. Cards Division, who has introduced many programs like making Spanish service available for cardholders.
Suppliers Diversity: According to the company’s 2014 Corporate Social Responsibility Report, “our direct spend with diverse suppliers represented approximately 10% of our overall procurable spend. In addition to ensuring diverses suppliers are included in supplier selection decisions, we offer various programs to help suppliers grow.”
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