Thomson Reuters recently announced their list of the top 100 most diverse and inclusive organizations. In the top 50 of the list there are 10 biopharma and medical device companies. Let’s take a look.
Thomson Reuters recently announced their list of the top 100 most diverse and inclusive organizations. Relying on the Diversity & Inclusion (D&I) Index, Thomson Reuters annually produces the list using the D&I Index and its own environmental, social and governance (ESG) data, which measures the relative performance of more than 7,000 companies.
“Our Diversity and Inclusion Index, now in its third year, highlights the companies who are leading the way in embedding Diversity & Inclusion into their company strategy,” said Elena Philipova, global head of ESG at Thomson Reuters, Financial & Risk, in a statement. “The industry is beginning to recognize the societal and business benefits of investing in diverse and inclusive companies and we are working closely with various investment firms who are looking to develop investable products based on our D&I Index. We remain committed to providing industry-leading ESG data to help investors make smarter investment decisions.”
In the top 50 of the list, there are 10 biopharma and medical device companies. Let’s take a look.
#1. Novartis. Ranked #2 overall, Novartis had an S&I score of 79.25. In a statement, Steven Baerd, head of Human Resources for Novartis, said, “We are in the business of reimagining medicine to improve and extend lives. When your work is about handling the most complex medical challenges, you need to bring together a strong and diverse team where different ideas and perspectives are heard. While we have more to do, I am proud of the progress we have made so far at Novartis towards creating a workplace that is more inclusive of different voices.”
#2. Medtronic. Ranking #3 overall, medical device and services company Medtronic had an overall score of 79. On September 20, Medtronic acquired Israel-based Mazor Robotics for $1.64 billion. This strengthens Medtronic’s position in spine surgery and brings Mazor Robotics deeper into the global market.
#3. Bristol-Myers Squibb. Ranking #10 overall with an S&I score of 77, says it views diversity in the broadest sense, including age, ethnicity, race, culture, gender, gender identity and expression, sexual orientation, abilities and disabilities, religion, socioeconomic background, veteran status, thinking styles, and life experiences.
#4. Roche. Ranking #12 with an S&I score of 75, on September 13, the company announced it had been recognized as the most sustainable company in the Pharmaceuticals index of the Dow Jones Sustainability Indices (DJSI). These indices provide a benchmark for investors who integrate sustainability considerations into their portfolios.
“We are proud of being recognized once again for our sustainability efforts,” stated Severin Schwan, chief executive officer of Roche. “Our most important contribution to society is the development of medicines and diagnostics that significantly improve people’s lives. Open and constructive dialogue with other companies, universities, doctors and patients plays an essential role here in understanding the needs of our partners in the healthcare sector and enabling us to work together to develop more targeted medical solutions faster.”
#5. Eli Lilly and Co. With an S&I score of 74, Eli Lilly ranked #17 overall (tied with Colgate-Palmolive and Procter & Gamble). In February, when Lilly ranked #52 on Glassdoor’s 2018 Best Place to Work list, Amy Green, head of Global Recruiting and Staffing at Lilly stated, “For the past few years, we’ve been exploring each employee’s journey, and we are expanding this in 2018. This helps us understand specific opportunities and challenges for various groups of employees. The employee journeys are helping us build a more diverse and inclusive workplace to fuel innovation and deliver the breakthrough medicines patients need.”
#6. Merck & Co. Ranking #20 (tied with HP), Merck had an S&I score of 73.75. On September 20, Merck published its 2017/2018 global Corporate Responsibility Report. Part of the report touched on the company’s 31 percent increase of spend with diverse suppliers in 2017, exceeding its corporate goal of $1.2 billion in spending with minority-owned, women-owned, veteran-owned, LGBT-owned and disability-owned businesses.
#7. Johnson & Johnson. J&J ranks #32 (tied with Unilever Indonesia and Ingersoll-Rand) with an S&I score of 72.25. In May, Wanda Bryant Hope, J&J’s Chief Diversity & Inclusion Officer, spoke about the company’s diversity. She said, in part, “At Johnson & Johnson, we didn’t have one aligned vision, mission or definition for diversity and including (D&I). So we did an extensive scan of best practices at other companies, then we evaluated our internal processes to analyze every factor that was impacting our culture. We also connected with more than 7,000 of our employees around the globe to learn what they wanted from Johnson & Johnson. And what they told us is that D&I means you belong.”
#8. Merck KGaA. Headquartered in Germany, Merck KGaA tied for #32 with GlaxoSmithKline, both with scores of 71.5. In the company’s 2017 Corporate Responsibility Report, the company noted it has a 2021 target to maintain 30 percent of women in leadership roles. To achieve this, the company has formed special teams responsible for developing goals and measures at a department level to move female candidates into positions in different areas and hierarchies. At the end of 2018, women held 30.3 percent of leadership positions group-wide.
#9. GlaxoSmithKline. (Tied for #32 with Merck KGaA). Like several other companies, GSK has implemented a Supplier Diversity Initiative, committing to a percentage of all discretionary spending be spent on small and diverse businesses. Those include companies that are minority, women, veteran, lesbian, gay, bisexual and transgender, disability-owned businesses in addition to businesses located in Historically Underutilized Business Zones (HUBZones) and small businesses.
#10. Abbott Laboratories. Abbott ranked #42, tied with Koninklijke Philips NV and Vodacom Group with an S&I score of 71.25. Abbott Labs has a number of diversity programs with a focus on driving innovation and mentorship. In a company statement, Miles D. White, Abbott chairman and chief executive officer, said, “The business case for a diverse workplace is clear: companies with more diversity among their people think more creatively and adapt more quickly to changing markets. We’re a global company; we need a wide diversity of ideas and perspectives to understand the people we serve and be relevant to their lives
