BANK OF AMERICA
BRIAN T. MOYNIHAN
• SENIOR VICE
Bank of America is among a handful of companies that have ranked in the DiversityInc Top 50 each year. The company has a blend of CEO commitment, diversity- management initiatives and philanthropic efforts. CEO
Brian T. Moynihan personally reviews and signs off on diversity
metrics, chairs the diversity council and meets with the company’s
resource groups every quarter.
Among the company’s diversity-management initiatives are its
cross-cultural mentoring programs, which are available to all managers. The programs have measurable goals to assess success and have
formal follow-up. Its 11 resource groups are company-wide, available
to all workers, and a senior executive is a member of each. The groups
are used for a number of employee-engagement strategies, such as
identifying and nurturing management talent and in the on-boarding
process of new employees.
The company continues to be a leader in work/life benefits. It has
a comprehensive adoption-assistance program, offering reimbursement of up to $8,000 per adopted child. The program also offers up to
12 weeks of parental leave, 100 percent paid time off.
Forty-six percent of Bank of America’s philanthropic efforts were
directed to multicultural nonprofit groups. Its CEO also serves on the
council of the National Museum of African American History and
STARWOOD HOTELS &
Returning to the list for the ninth year, Starwood holds its ground against an increasingly competitive hospitality industry. A diverse workforce is indicative of the industry, but what distinguishes companies like
Starwood is the ability to leverage successful succession planning
and talent-development initiatives so its management reflects the
demographics of its workforce and the marketplace.
To this end, Starwood includes diversity goals in executive-performance reviews. Senior leaders are held accountable for
recruiting, retaining, mentoring and promoting underrepresented
employees, and 20 percent of the bonus is tied to diversity results. The
mentoring program, available to the entire organization, involves the
top three levels of management. Mentoring pairs are formally evaluated
on an annual basis. The company’s resource groups are used for
on-boarding and the identification and nurturing of management talent.
Starwood also understands the value of making external connections. The company directs half of its philanthropic spend to the multicultural community, including the NAACP, National Gay & Lesbian
Chamber of Commerce, the Organization of Chinese Americans and
the National Business & Disability Council. The company has solid
Tier I (contractor) and Tier II (subcontractor) spend with not only
minority- and women-owned businesses but with vendors owned by
LGBT people, people with disabilities and veterans with disabilities.
• PRESIDENT AND CEO
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