News Column

Top 50 Companies for Hispanics 2006

September 2006, HISPANIC BUSINESS Magazine

Charlotte, NC
A leader in banking in the Hispanic community, Bank of America has banking relationships with 48 percent of all Hispanic households in the country and has been recognized for its diversity initiatives in corporate procurement, corporate board participation, senior management representation, and total workforce. The bank supports the Hispanic/Latino Organization for Leadership and Advancement and is one of the largest corporate sponsors of the Hispanic MBA organization.

Seattle, WA
Washington Mutual takes pride in a workforce that represents the diverse communities it serves. At the end of 2005, people of color made up 42 percent of the company's workforce.Washington Mutual partners with organizations such as the Mexican American Legal Defense and Education Fund, the National Association of Hispanic Real Estate Professionals, the National Council of La Raza, and the U.S. Hispanic Chamber of Commerce.

Rosemead, CA
Southern California Edison (SCE) promotes diversity with leadership programs, recruiting, and supplier diversity goals. Its mission is to make SCE a better company by continuing to focus on workforce representation, leveraging individual differences, and enhancing the company's reputation. SCE values and builds on differences for the benefit of the company, its customers, employees, and the communities it serves.

San Francisco, CA
Union Bank of California has more than a third of its branches in communities where ethnic minorities are the majority. Union Bank supports multiple Hispanic chambers of commerce and Hispanic-focused charitable organizations, and spent some $16 million with Hispanic-owned businesses last year. In addition, the bank's Local Hero of the Year Awards program is in its tenth year in San Diego, Los Angeles, and Fresno to recognize the contributions of community heroes during Hispanic Heritage month.

San Diego, CA
In 2005, Sempra Energy spent $215 million, more than 23 percent of total purchases, with women-, minority-, service-disabled, and veteran-owned businesses. Diversity training, targeted recruiting, mentoring, succession planning, management development programs, and education reimbursement have been instrumental in recruiting and retaining diverse employees. Programs and initiatives reflect the needs of the growing Hispanic community as well as all members of its diverse communities.

Albuquerque, NM
PNM Resources and its subsidiaries welcome and promote the diversity of their work force, customer base, and the communities they serve. Promoting diversity is a part of supervisory performance management plans. By investing resources and creating partnerships with key organizations in the community, PNM is working to improve the quality of life for people throughout the service area.

Basking Ridge, NJ
Verizon's core values integrity, respect, performance excellence, and accountability are incorporated into everyday business practices, operations, and policies. Diversity is an integral part of Verizon's business, from workforce development and supplier relationships, to economic development, marketing, and philanthropy. Verizon has been able to retain a diverse workforce, increase performance, and offer new products and tailored solutions to an increasingly diverse marketplace.

Bentonville, AR
With more than 150,000 Hispanic associates, having a diverse and multicultural workforce, at all levels, is among Wal-Mart's top priorities. Since 2002, Wal-Mart has purchased $1.1 billion of products and services from more than 750 Hispanic-owned businesses. Wal-Mart has reached out to the Hispanic community by donating $1 million to the National Hispanic Scholarship Fund, printing its monthly ad circulars in English and Spanish, and launching Viviendo, a magazine that features Hispanic leaders and celebrities.

San Francisco, CA
Wells Fargo & Co. has more than 54 diversity councils. Wells Fargo's Corporate Diversity Council advises its executive team on best practices and plans outreach initiatives, which include attracting, retaining, and developing diverse team members at all levels of the organization. In addition, Wells Fargo is the No. 1 originator of home loans to ethnic minorities, a leader in lending to Hispanic business owners, and has committed to spending at least $1 billion per year with diverse-owned suppliers by 2010.

Newark, NJ
At Prudential Financial, a critical component of the company's success is the ability to value and leverage diversity. Prudential Financial values and respects differences, has an appreciation for multicultural markets, and is committed to diverse partnerships, which help drive leadership domestically and internationally. Prudential Financial's inclusive policies and broad access to opportunities enable it to attract, retain, and develop talented individuals from a variety of backgrounds.

Washington, D.C.
Marriott International's commitment to diversity is the only way to attract, develop, and retain the best talent and forge the business relationships necessary to continue the company's growth. Of the $1 billion the company plans to spend with diverse suppliers by 2010, $347 million has already been spent in a single year. The 2010 goal to have 500 minority- and women-owned Marriott hotels in the system is well on its way, exceeding 400 currently.

Gaithersburg, MD
Sodexho is widely recognized for having a strong commitment to promoting diversity and inclusion in the workplace. Sodexho has five employee network groups, including "SOL," the Sodexho Organization of Latinos, which works to enhance the quality of life for Hispanics. Sodexho has strong partnerships with the Hispanic Association of Colleges and Universities, National Council of La Raza, and the National Hispana Leadership Institute. In 2005, Sodexho increased its minority spending with suppliers by more than 50 percent.

Roseville, CA
HP has a long-standing commitment to diversity and strives to provide employees with an inclusive, flexible workplace. The company actively seeks diverse talent at all levels of the organization through conferences and career fairs, job boards, professional organizations and referrals, as well as various programs that promote diversity, including online diversity training, multiple employee resource groups, and a variety of work-life programs. These core HP values give it a competitive advantage.

Atlanta, GA
"Diversity as business" is one of the four strategic pillars of Coca-Cola's business plan, and is the reason it continually improves its efforts to advance diversity. These efforts include programs to identify and cultivate a diverse talent pool, measure fairness in people practices, support career development, and encourage participation in mentoring. Its supplier-diversity initiatives provide equal access to procurement opportunities for minority- and women-owned business enterprises with a supplier-mentoring program.

Rochester, NY
With sales of $14.3 billion in 2005, the company is committed to a digitally oriented growth strategy focused on helping people better use meaningful images and information in their life and work. Kodak recently reached its supplier-diversity spending goals after placing 10 percent of its annual domestic purchasing with minority- and women-owned companies. Now, the company is working to place 11.5 percent of its domestic purchasingwith minority-owned businesses by 2008.

Purchase, NY
At PepsiCo, diversity and inclusion are fundamental strategic priorities at the core of its value system. To accomplish the commitment to diversity and inclusion, PepsiCo focuses on developing its diverse employees and fostering an environment in which all employees, regardless of ethnicity, gender, or sexual orientation, can be successful. The company's commitment to inclusion training, employee networks, and minority suppliers are a few actions that have been taken to continue building a corporate culture in which diversity is celebrated.

Golden, CO
Coors Brewing Co. is committed to developing a workforce reflective of the global marketplace. Its strategy focuses on internal development and retention, and external recruiting. As a member of the National Minority Supplier Development Council, Coors supports local and regional minority-supplier development councils and has an award-winning program to attract and assist minority vendors. Coors has invested more than $1 billion in minorityvendor procurement contracts, corporate contributions, banking, employment, marketing, and public relations.

Atlanta, GA
Recognizing that the Hispanic market in the Southeast represents a major area of growth for the company, BellSouth is dedicated to communicating with this important customer base in a culturally relevant manner. The company's Diversity Recruiting Council and its involvement with the Greater Dayton Hispanic Chamber of Commerce place an ongoing focus on diversity through its recruiting efforts and by creating an environment where diversity is appreciated. As part of the commitment to diversity, BellSouth launched a Spanish-language advertising campaign aimed at increasing the growth of Hispanic subscribers to the company's BellSouth Answers bundles.

Rochester, NY
For more than 35 years, Xerox has been committed to maintaining an inclusive workplace that values cultural differences, all ways of thinking, and new perspectives. Since 1985, Xerox has purchased more than $4.7 billion in goods and services from minority-, women-, and veteran-owned businesses in the United States. Xerox views diversity in the workplace as a business and competitive advantage, and diversity practices are deployed throughout all core operations including staffing, retention, promotions, leadership development, and work environment initiatives.

Orlando, FL
Darden's commitment to diversity is holistic: Its initiative is composed of a focus on workforce diversity, supplier diversity, and community diversity. Darden Restaurants and each of its business units recognize the value of an environment that embraces individual differences, and is committed to creating and maintaining such an environment. This commitment is based upon the recognition and belief that diversity is critical to Darden Restaurants' ability to excel in an increasingly diverse and dynamic marketplace.

Minneapolis, MN
General Mills has not only made its support of diversity a top priority, but it's also committed to building a culture of inclusion. In response to the growing Hispanic consumer market, the company's Hispanic Network and Multicultural marketing team partnered to strategically develop plans for more effectively targeting Hispanic consumers.Networks also provide minority employees with support systems for navigating the company, and opportunities to grow professionally.

Coral Gables, FL
American Airlines believes diversity is a powerful tool for achieving the company's business objectives. Since 1941, it has dedicated sales, marketing, advertising, and communications teams focused on developing direct relationships with the U.S. Hispanic customer. The Diversified Supplier program is designed to bring diversity to American's purchasing program by proactively seeking minority, women-owned, and small businesses. This program assures the inclusion of minority- and women-owned companies in procurement and construction opportunities.

23. PG&E CORP.
San Francisco, CA
PG&E Corp. comes to life through its employees. The diverse backgrounds of PG&E employees facilitate PG&E's commitment to innovation, ingenuity, and to performing at the highest level. The company is headquartered in the most ethnically diverse state in the nation,with a population that supports divergent views on important business, environmental, and community-related issues. The diversity reflected by more than 2,700 Hispanics among PG&E's 19,800 employees empowers it to respond better to the needs of its customers and communities.

New York, NY
JPMorgan Chase makes diversity an integral part of how it manages and does business. All JPMorgan Chase senior managers are responsible for administering a formal diversity plan and linking diversity to education, recruiting, succession planning, career development, and business growth. Thousands of employees are also involved in chapters of the employee networking groups, including Adelante the Hispanic networking group ensuring hands-on employee involvement in JPMorgan Chase's diversity initiatives.

Atlanta, GA
Cingular Wireless promotes an inclusive environment that maximizes individual and organizational contributions in the workplace, community, and marketplace. Its commitment to diversity shows in its workforce where 13 percent of employees are male Hispanic, 7 percent are female Hispanic, and 52 percent of all employees are female. Cingular's community partnerships and sponsorships include LULAC, NCLR, the National Hispanic Scholarship Fund, and the U.S. Hispanic Chamber of Commerce. Supplier diversity initiatives include more than $200 million spent with Hispanic-owned firms.

26. AT&T INC.
San Antonio, TX
In fostering diversity and inclusion, AT&T has created a better business environment, one that makes the company an employer of choice, a preferred business partner, and an important contributor to the community. AT&T's workforce is 46 percent female, 36 percent minority, and 12 percent Hispanic. In 2005, AT&T and the AT&T Foundation contributed more than $21 million in support of nearly 800 organizations that strengthen diverse communities. Last year,AT&T spent $1.6 billion with minority-owned firms.

Chicago, IL
Hyatt's diversity initiatives commitment, accountability, measurement, training, and communication make it an employer of choice, business partner, and community ally. As an employer of choice, Hyatt provides employment and promotional opportunities to today's diverse workforce. As a partner, Hyatt maintains relationships with minority community businesses. Hyatt's procurement efforts with minority- and women-owned vendors reached 24.7 percent in 2005. Finally, as an ally, Hyatt pursues and participates in community outreach efforts and initiatives.

Battle Creek, MI
Kellogg Co. is committed to an inclusive culture that allows all employees to be their best, while serving the needs of the global marketplace with superior products. Programs and processes have been formalized to ensure that diversity efforts serve Kellogg customers, consumers, and employees. Examples of this commitment include Kellogg's Department of Diversity and Inclusion, employee resource groups such as HOLA, Women of Kellogg, and the Kellogg MultiNational Employee Resource Group, and contributions to the Hispanic Heritage Foundation.

New York, NY
Through the American Express Supplier Diversity program, the company builds mutually advantageous relationships with diverse suppliers. American Express is a key corporate member of the U.S. Hispanic Chamber of Commerce and its local affiliates as well as the Texas Association of Mexican-American Chambers of Commerce. E-sourcing, second-tier management, supplier-capability matching, and capacity-building strategies are cornerstones of American Express' outreach to Hispanic and other diverse markets.

Cincinnati, OH
Diversity within its workforce, customer base, and community and vendor relationships gives Federated Department Stores a clear competitive advantage. Federated's workforce initiatives include talent acquisition and succession management, diversity training, and events sponsored by diversity councils and affinity groups. Economic reinvestment and educational partnerships are two of the ways that Federated supports community development. In 2005, Federated's Supplier Diversity program sourced goods and services from qualified minority- and women-owned businesses totaling $491.8 million.

Philadelphia, PA
Comcast's commitment to diversity begins with the dedication of senior leadership with the Diversity Management Council, a team responsible for reviewing, developing, and implementing Comcast's diversity initiatives. Committed to minority participation at all levels of employment, the company provides the training and experience needed for individuals to achieve their professional development goals through Comcast University. To date, 25 percent of the participants in Comcast-supported leadership development programs have been minorities.

Northbrook, IL
Diversity at Allstate is a business strategy that provides a competitive advantage by strengthening its corporate brand. Leveraging Allstate's diversity provides employees and agencies with the skills and expertise they need to grow the customer base and better serve their needs. Allstate embraces diversity in everything it does not only in the customers it serves and the communities in which it invests, but also the people it hires and the businesses it uses as suppliers.

Las Vegas, NV
When MGM Mirage embraced diversity as a business imperative, it developed the infrastructure for governance, policymaking, and implementation of its initiative. In 2005, MGM Mirage won the "Corporation of the Year" award from the Latin Chamber of Commerce and Nevada Minority Business Council. In addition, its Diversity Committee of the Board of Directors requires minority participation in all contracts and purchases exceeding $1,000.

New York, NY
Cultivating a broad vision of inclusiveness enables Ernst & Young to thrive in a global environment, helps attract the best talent, and creates new avenues for revenue generation. Its strategy is about achieving equity for everyone, using differences to build success, and dispelling stereotypes. They found that diverse teams work together effectively, deliver higher-quality services, bring multiple perspectives, and mitigate risk.

35. IBM
Armonk, NY
IBM has implemented 180 Diversity Network groups and eight constituency Workforce Diversity Executive Task Forces to address minority employees' needs and provide networking opportunities. It has long-time partnerships with the National Society of Hispanic MBAs and the Society of Hispanic Professional Engineers. IBM also has a long and rich history of investing in Hispanic businesses as the only IT company on the Billion Dollar Roundtable, spending $1.8 billion last year.

Spartanburg, SC
Nearly one-third of Denny's overall workforce is Hispanic. Earlier this year, Denny's launched Sed de Saber ("Thirst for Knowledge"), its English-as-a-secondlanguage program, to help its thousands of Hispanic employees learn English. In just five months, Denny's had employees who could barely speak English score between 70 and 90 percent proficiency on their final evaluations. Sed de Saber is helping Denny's improve employee morale, reduce turnover, improve job performance, facilitate career advancement, and increase employee loyalty.

Rochester, NY
Bausch & Lomb accomplishes its commitment to diversity by nurturing the diversity of thinking and ideas and through efforts to attract, develop, and retain a diverse group of talented people. Because certain eye diseases are more prevalent among Hispanics, it partners with eye care professionals to educate its employees about these diseases and encourage the Hispanic population to take preventative measures. Bausch & Lomb also has established a minority-supplier recognition program to encourage partnerships.

Murray Hill, NJ
Because its customers serve a diverse marketplace and are strong advocates for supplier diversity, Lucent Technologies has set an annual goal for 10 percent of its goods and services to be purchased from diversity suppliers. By developing a set of minority-, women- and disabled veteran-owned business enterprise resources, as both suppliers and value-added resellers, Lucent recognizes diversity as a business imperative because it makes good business sense.

New York, NY
Diversity is rooted in one of Merrill Lynch's five guiding principles: Respect for the Individual. By providing exceptional resources and an inclusive, high-performance work environment, Merrill Lynch ensures that employees are able to maximize their professional potential while delivering extraordinary value to clients, and creating a competitive advantage for the company and its shareholders. In addition, through its Multicultural Marketing group, Merrill Lynch seeks to be a leading provider of financial services to Hispanics.

New York, NY
In 2005, employees worked with Citigroup's diversity directors to launch employee networks, and assisted in recruiting, mentoring, and teaching financial education programs locally. Citigroup has placed an emphasis on building sponsorships with U.S. organizations including the National Society of Hispanic MBAs and the Hispanic Alliance for Career Enhancement. Citigroup Supplier Diversity launched a minority broker-dealer program to include Hispanic and other diverse broker-dealers in initial public offerings and other equity capital markets deals.

McLean, VA
Workforce diversity is evident in Freddie Mac's employees: Minorities make up more than 40 percent, more than 50 percent are women, and, last year, minorities made up more than 50 percent of Freddie Mac's new hires. The company's seven employee networks are essential to its internal diversity programand are one of the unique ways in which the company fosters a diverse working environment. These groups are designed to cultivate a spirit of inclusion and support positive forums for professional development among employees.

New York, NY
Altria Group has made a long-standing commitment to integrate diversity in its work. Its investment in diversity ensures an inclusive workforce; reinforces the message that the Altria Group cares about the communities in which it does business; enhances the quality of its relationships with stakeholders; and allows it to make fundamentally better business decisions.

Overland Park, KS
As a leading global communications company, Sprint is committed to the growth and success of its inclusion and diversity initiatives. Sprint has taken a holistic approach to inclusion, focusing on employees, customers, suppliers, and local communities. By offering employee programs such as its Hispanic resource group, Enlace; an award-winning supplier-diversity program; and community-outreach programs targeting diverse communities, Sprint is able to focus on areas important to the Hispanic community while increasing shareholder value.

44. UPS
Atlanta, GA
UPS actively recruits employees from a broad variety of communities and schools, with more than half of its 2005 hires being minorities. In 2005, UPS awarded more than $249 million in contracts to minority- and women-owned businesses as part of its 14-year-old Supplier-Diversity program. UPS has a 20-year partnership with the National Council of La Raza, the largest constituency-based national Hispanic organization, and the Hispanic Scholarship Fund.

Atlanta, GA
Turner's commitment to diversity has been demonstrated consistently in its people, programming, and perspective. In 2005, the company showed continuing improvement in the sourcing, recruitment, and hiring of minorities and women at the director and vice-president levels. Turner reached diverse audiences through an array of innovative programming and content. Its Entertainment Multicultural Market Development department was expanded in 2005 and charged with raising internal awareness of emerging markets, identifying non-traditional advertising and sponsorship opportunities, and encouraging diversity in its original programming.

Prospect Heights, IL
HSBC partners with a variety of top-tier minority professional organizations, including the National Society of Hispanic MBAs and Hispanic Alliance for Career Enhancement, to help identify and recruit future leaders. HSBC also supports eight employee network groups, including a Hispanic and Latin American Diversity Committee, which facilitate open discussion and promote professional development of its diverse employees. HSBC actively pursues and recruits suppliers who are certified as minority- or women-owned by thirdparty agencies.

New York, NY
Morgan Stanley has long believed that its leadership is predicated on having the best people who offer the best advice to its clients in a first-class manner. Throughout Morgan Stanley's history, its innovative ideas and cutting-edge financial products have been developed by a diverse group of the most talented individuals. From the company's recruiting and career development programs, to its supplier-diversity and work-life programs, Morgan Stanley's commitment to diversity is unparalleled.

Chandler, AZ
At Intel, a leading manufacturer of computer, networking, and communications products, diversity is a way of life. Its employees' distinct qualities make it possible to deliver innovative products that are revolutionizing the way that people live and work. The Supplier Diversity and Community Outreach programs support the development of Intel's local communities, and Intel's education programs are aimed at increasing opportunities for Hispanics and other under-represented minorities from underserved communities.

Chicago, IL
Tribune has achieved significant progress in diversity since the creation of a diversity management office in 1998. Hispanics make up 7.5 percent of all Tribune managers and its board of directors is 17 percent Hispanic. Tribune's diversity is also reflected in its publishing, broadcasting, and online activities. From Spanish-language Hoy, to many other niche and television programming, Tribune offers consumers a diverse range of news and information sources.

Dearborn, MI
With more than 200 awards from publications and organizations recognizing Ford's diverse and inclusive culture, diversity remains one of the company's key business strategies. Its Executive Council on Diversity is comprised of top executives and officers from every Ford operation. Its Supplier Diversity Program encourages large suppliers to work with smaller minority- and women-owned businesses to empower diverse communities through wealth creation. Ford has partnered with CVM Diversity Question to create an interactive, Internet-based reporting program called M-Tier, which will track diverse supplier spending at all levels of Ford's value chain.

Source: HISPANIC BUSINESS Magazine and, Copyright (c) 2006 All Rights Reserved.

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