Findings Show a Continued Need for Focus on Hispanic Inclusion Overall.
October 10, 2023 – American corporations still have a long way to go towards fully including Hispanics at all echelons of employment, on corporate boards, among suppliers, and among recipients of philanthropic resources, according to the 2023 HACR Corporate Inclusion Index™ (CII) Report released today. The report aggregated data from 92 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 strategies since 2009. The 2023 HACR CII examined Hispanic corporate inclusion practices from 2022.
“The data show the there’s still a long way to go towards full economic reciprocity for Latinos in the corporate sector,” said HACR President and CEO, Cid Wilson. “But this report also gives us hope. Despite the very real backlash against diversity and inclusion generally, some of the country’s largest companies demonstrated their commitment to measuring Hispanic inclusion by taking our survey. Returning participants get a clear picture of their progress year over year, and new participant companies establish a baseline.”
Key findings include:
- TALENT PIPELINES & HIRING
- Among all participating companies, 13% of interns at participating companies are Hispanic.
- 73% of Hispanic employees at participating companies are non-exempt.
- C-SUITE & BOARDS
- 7% of individuals on boards of participating companies are Hispanic.
- 55% of companies have at least one Hispanic individual on their Board.
- 5% of CEO direct reports identify as Hispanic.
- SUPPLIERS & PROCUREMENT
- Fewer than 1% of suppliers are Hispanic.
- Just over 1% of total spend is with Hispanic-owned businesses.
- 10% of corporate give went to the Hispanic community.
- Nearly 20% of foundation give went to the Hispanic community.
The HACR Corporate Inclusion Index™ Report is conducted by HACR’s Research Institute to measure Hispanic inclusion in HACR’s four pillars of economic reciprocity: Employment, Procurement, Governance, and Philanthropy. This year, 92 companies participated in the report and of those, 39 were listed in the Fortune 100 last year. Participating companies represented a cross-section of industries including commercial banks, diversified financials, financial data services, pharmaceuticals, health care, insurance and managed care, pharmacy, telecommunications, and general merchandisers among others.
Utilizing a five-star rating system, HACR recognizes 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 three companies 5-Star ratings in all four pillars of inclusion: Comcast NBCUniversal, Edison International, and Medtronic PLC. HACR celebrates their partnership and commitment to the advancement of Hispanics and acknowledges all 2023 participating companies for their demonstrated dedication to data-based benchmarking and actionable change.
To explore all 2023 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.