Ernst & Young LLP ranks 6th in DiversityInc’s Top Ten Companies for GLBT Employees
Leading professional services firm Ernst & Young LLP was recently honored as one of the "Top 50 Companies for Diversity" by DiversityInc magazine. In recognition of the firm's commitment to workplace equity, Ernst & Young ranked 24 overall and ranked six on the magazine's "Top Ten Companies for GLBT (gay, lesbian, bisexual, and transgender) Employees" list.
Through its "People First" culture, Ernst & Young continues to invest in programs that have set industry standards for creating an environment that embraces diversity and promotes inclusiveness. The firm offers a variety of programs that support career development, workforce planning, communication, and leadership accountability for its minority professionals, with special emphasis placed on education, mentoring and networking opportunities.
"At Ernst & Young we believe our competitive advantage is highly dependent on our ability to leverage the differences of our people to create diversity of thought," said James S. Turley, Chairman and CEO, Ernst & Young LLP. "We are pleased to be recognized among this esteemed group of employers and proud of our efforts and achievements in building an inclusive culture."
Ernst & Young has made significant strides as a result of its pursuit and cultivation of an inclusive work environment. Since 1995, minority representation at Ernst & Young has increased by almost 80 percent and the number of minority partners and principals grew by 100 percent.
In 2006, Ernst & Young appeared on both the FORTUNE "100 Best Companies to Work For" list and Working Mother's "100 Best Companies for Working Mothers" list, each for the eighth consecutive year. Ernst & Young was also the first of the "Big Four" accounting firms to score 100 percent on the Human Rights Campaign's Corporate Equality Index, which is an organization working to advance equality in the workplace and community based on sexual orientation and gender expression.
"Ernst & Young's commitment to diversity starts with its CEO and extends to all aspects of its business," said Luke Visconti, partner and cofounder of DiversityInc. "As a Top 50 company, Ernst & Young demonstrated strong unbiased recruitment and retention as well as excellence in communications and supplier diversity. It is a commitment to these management practices that have earned Ernst & Young recognition on the Top 50 list."
While everyone at Ernst & Young is responsible for an inclusive work environment, leaders in the firm are evaluated by their commitment to the People First culture that promotes, among many things, the retention and advancement of minority professionals. At the board level, Vice Chairman John Ferraro champions all issues pertaining to gender, ethnic and LGBT diversity.
At the local level, each BU has an Ethnicity Diversity Advisory Council charged with translating the firm's commitment to inclusiveness into accountable and action-oriented goals. Every year, Ernst & Young also conducts a Minority Leadership Conference, during which minority partners, principals, executive directors and directors in the U.S. and Canada meet to examine issues and share ideas and best practices focusing on diversity and the firm's culture.
Ernst & Young actively recruits at minority schools and universities designated as national recruiting sources. In addition, the firm participates at various career conferences sponsored by the National Association of Black Accountants, the Association of Latino Professionals in Finance and Accounting, the National Association of Asian American Professionals, the National Black MBA Association, and the National Society of Hispanic MBAs.
Due to these and other strategic initiatives, minority hires account for more than 28 percent of Ernst & Young's total hiring from campuses and more than 35 percent of its experienced hires. Meanwhile, client-serving retention among minority professionals in the U.S. has grown 6 percent since 2000 - a strong indicator in a highly competitive job market.
A total of 256 companies, a 100 percent increase over the last three years, competed for a spot on the highly coveted "Top 50 Companies for Diversity" list. The list of winners was announced this week on www.DiversityInc.com and a more detailed analysis of the winners and the results will be featured in the June issue of DiversityInc magazine.
New this year was the requirement that companies on The DiversityInc Top 50 Companies for Diversity list demonstrate consistent strength in the four areas the survey measures. Also, more weight was given to CEO Commitment, the most crucial of the four areas measured-which include Human Capital, Corporate Communications and Suppler Diversity.
About Ernst & Young Ernst & Young LLP is the U.S. member firm of the global Ernst & Young organization. The Ernst & Young network of firms is a global leader in
professional services, committed to restoring the public's trust in professional services firms and in the quality of financial reporting. Its 107,000 people in 140 countries pursue the highest levels of integrity, quality, and professionalism in providing a range of sophisticated services centered on our core competencies of auditing, accounting, tax, and transactions. Further information about the global Ernst & Young organization and its approach to a variety of business issues can be found at www.ey.com/perspectives.
All of the Top 50 companies offer domestic-partner benefits, compared
with 49 percent of Fortune 500 companies.
Sixty-nine percent of the Top 50 companies have active programs to
recruit GLBT employees. Practically no other companies in the United
States do this.
Thirteen percent of the Top 50 companies have gay/lesbian supplier
programs. Almost no other companies in corporate America do this.
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