WASHINGTON, September 29, 2022 /3BL Media/ – Hispanic inclusion in Corporate America stalled or reversed course during 2021, according to the 2022 HACR Corporate Inclusion Index™ (CII) released today. The report, themed “Three Years Later: The Post-Crisis Recalibration of Corporate America’s Hispanic Diversity, Equity, & Inclusion Practices,” aggregated data from 82 participating corporations, the majority of which are Fortune 500 companies.
The Hispanic Association on Corporate Responsibility’s (HACR) CII report has been the source for comprehensive reporting on Corporate America’s Hispanic inclusion efforts since 2009. The 2022 HACR CII examined Hispanic corporate inclusion practices last year and compared those results with data from the prior two years to ascertain how companies reacted to major disruptions in the shorter term and recalibrate, as they anticipated emergence from the global pandemic.
“The data shows an unfortunate regression in Hispanic inclusion measurement and outcomes during 2021 and over the past three years. We therefore renew our call to companies to partner with us to double down on Hispanic inclusion strategies with data-backed tools specific to our community,” said Cid Wilson, President and CEO at HACR. “We believe that with the right strategies and partnerships companies can accelerate Hispanic inclusion to match our fast growing influence as a major economic force.”
Conducted by HACR’s research branch, the study showed decreased Hispanic inclusion across all four focus areas: employment, procurement, philanthropy, and governance in the 2022 survey. Specific highlights of the report include:
- Hispanic employees in the corporate workforce declined by .8 percent since 2020, representing the second largest drop in Hispanic employee inclusion outcomes reported since 2019.
- 70 percent of Hispanics in Corporate America are employed in non-exempt positions.
- The average number of Hispanic employees who report to the CEO dropped to .56 per company. That roughly translates to a 50 percent chance a company’s CEO will not have a Hispanic voice among their closest advisors.
- Companies reported directing 2 percent of total procurement spend to Hispanic suppliers.
- Since 2020, Latina representation on corporate boards has changed little at 1.8 percent. Similarly, Latina representation among corporate executives has remained relatively flat over the last three years with incremental changes driven by increases of Latinas hired into non-exempt positions.
- The percent of total corporate giving decreased to the lowest levels in three years to 8 percent. For both corporate and foundation giving, philanthropic investment totals are lower than those from 2019.
- Hispanic representation on corporate boards was reported at .6 percent. About half of 2022 CII participants reported having at least one Hispanic board member. The other half reported having no Hispanic board representation.
Utilizing a five-star rating system, HACR commemorates excellence in Hispanic inclusion with companies that document best practices in DEI and are progressing towards greater Hispanic inclusion. This year, the Washington-based nonprofit awarded two companies 5-star ratings in all four pillars of inclusion: Comcast NBCUniversal and Medtronic PLC. HACR celebrates their partnership and commitment to the advancement of Hispanics and also acknowledges other 2022 participating companies for their demonstrated dedication to data-based benchmarking and actionable change.
To explore all 2022 findings, download the report.
Founded in 1986, the Hispanic Association on Corporate Responsibility (HACR) is the nation’s leading corporate advocacy organization, representing 14 national Hispanic organizations in the United States and Puerto Rico. Its mission is to advance the inclusion of Hispanics in Corporate America in the areas of Employment, Procurement, Philanthropy, and Governance. Through our corporate leadership advancement programs, best-practice conferences, research initiatives, and public engagements, HACR is illuminating The Power of Hispanic Inclusion™ throughout Corporate America.
Original article at 3blmedia.com