FLORHAM PARK, NJ--(Marketwired - April 24, 2013) - DiversityInc last night recognized BASF Corporation as one of the Top 50 Companies for Diversity for 2013. The DiversityInc Top 50 includes companies from a wide range of industries whose leadership, procurement practices, communications and training best reflect the reality of the rapidly changing face of America. The full list can be found at www.DiversityInc.com/top50.
"On the heels of the demographically revealing 2012 presidential election, it is clear that U.S. companies are increasingly conscious of the importance of diversity," said Luke Visconti, CEO of DiversityInc. "We are very encouraged to see more companies applying for this distinction and embracing diversity more deeply than ever. We also note a continued positive correlation between achievement in diversity and overall positive stock performance."
Both the 2013 and the 2012 DiversityInc Top 50 lists outperformed the S&P 500 on a one-, three- and five-year basis.
"The BASF Diversity Council's increased focus on leadership accountability, diversity recruitment and retention are paying off. BASF makes the list this year with strong efforts supporting employee resource groups, a talent/diversity dashboard, mentoring and supplier diversity," said Visconti.
"At BASF, we create chemistry for a sustainable future. One of the most important ways we do this is by recognizing, appreciating and leveraging diversity. This drives our efforts to attract, develop and retain the best team, and use the power of diversity as a competitive advantage and key to personal and professional growth," said Hans Engel, Chairman and CEO, BASF Corporation.
"In recognizing BASF, DiversityInc noted that we have developed a talent/diversity dashboard that goes beyond traditional representation measures and gets to the heart of the leadership behaviors that support a diverse and inclusive work environment," said Patricia Rossman, BASF Corporation Chief Diversity Officer. "This is providing important insights, helping to change minds and behaviors, and leading to a greater appreciation of the positive role diversity plays in creating a great place to work."
In addition to BASF's talent/diversity dashboard, cited by DiversityInc as a leading diversity innovation in its InnovationFest! 2012, the company was recognized by DiversityInc for the strength of its:
- Diversity + Inclusion Council that includes senior leaders of major BASF North American businesses and functions working to increase awareness and accountability for diversity best practices.
- Expanding employee resource groups that help employees from diverse backgrounds broaden their networks, build new skills and assimilate more deeply into the organization. New groups established in 2012 support Asian and Latin American employees, as well as women working in the construction industries.
- Mentoring programs which include more than 800 employees in cross-cultural, cross-business and cross-site mentoring.
- 300 percent improvement in the company's supplier diversity spend since 2011.
DiversityInc is the leading source of information on diversity management. The company is a consultancy and publishes two websites, www.DiversityInc.com and www.DiversityIncBestPractices.com, as well as a magazine, published five times a year. DiversityInc also produces diversity events, which average more than 600 attendees from 200 companies and have featured more than 20 CEOs of major corporations.
BASF - The Chemical Company
BASF Corporation, headquartered in Florham Park, New Jersey, is the North American affiliate of BASF SE, Ludwigshafen, Germany. BASF has more than 16,600 employees in North America, and had sales of $18.5 billion in 2012. For more information about BASF's North American operations, visit www.basf.us.
BASF is the world's leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. We combine economic success with environmental protection and social responsibility. Through science and innovation, we enable our customers in nearly every industry to meet the current and future needs of society. Our products and solutions contribute to conserving resources, ensuring nutrition and improving quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF had sales of EUR 72.1 billion in 2012 and more than 110,000 employees as of the end of the year. Further information on BASF is available on the Internet at www.basf.com.