TIAA Ranks 9th on DiversityInc's 2021 Top 50 Companies List
This is TIAA's ninth consecutive year being ranked on DiversityInc's Top 50 list, and its second consecutive year within the top 10 companies.
NEW YORK, May 7, 2021 /PRNewswire/ -- TIAA was named #9 on the 2021 DiversityInc Top 50 Companies for Diversity list, holding steady from its #9 rank in 2020. This achievement recognizes TIAA's longstanding commitment to fostering an inclusive workplace that reflects the diversity of the clients that it serves. DiversityInc's highly competitive and rigorous annual survey yields a data driven ranking based on six criteria: talent results in the workforce and management, senior leadership accountability, talent programs, workplace practices, philanthropy and supplier diversity. TIAA was also recognized on "Top Company" specialty lists for Environmental, Social & Governance (ESG), Black Executives, Talent Acquisition for Women of Color, and Executive Diversity Councils.
"Diversity, Equity & Inclusion is at the core of everything we do, especially when it comes to serving our clients and how we value our associates," said Sean Woodroffe, Chief People Officer at TIAA. "This became more important than ever as we navigated through the unprecedented events of the last year. We appreciate that we are at our very best when these core principles are universally adhered."
Following the murder of George Floyd, TIAA launched Be the Change – a new program created to uplift the firm's employees and communities through dialogue, education and engagement. Based on four pillars - facilitating change through understanding, dialogue, leadership and action; TIAA launched 10 programmatic and communication-based efforts in the month of June.
Despite associates shifting to remote work as a result of COVID-19, TIAA hosted a variety of virtual events to further its mission. More than 1,000 people joined TIAA's Be the Change Race Against Racism to raise awareness around injustice and inequality. Participants came together to ride bikes, run or walk with someone of a different race in support of the Innocence Project, a nonprofit legal clinic that uses DNA technology and reform laws to free innocent people from prison and prevent future wrongful conviction.
At the same time, TIAA launched its Summer of Service program, which provided associates with virtual opportunities to engage in their communities and support those impacted by COVID-19. To address the digital divide that was revealed as the country moved towards remote learning, TIAA partnered with EveryoneOn, a nonprofit that ensures all Americans have access to affordable internet and computers. For every hour of physical activity that employees and their families logged, TIAA funded a donation to the organization, totaling more than 8,600 hours. Additionally, TIAA donated 1,200 laptop computers to E2D for distribution in local communities in North Carolina.
TIAA also provided educational enrichment and enhanced financial acumen programs through tutoring and mentoring students, as well as providing educational materials to disadvantaged students and teachers in communities where TIAA associates work and live. Employees volunteered their time to create flashcards for students, donated school supplies, and used their skills to help nonprofits solve organizational challenges. Employees were also able to earn grant money on behalf of nonprofits for volunteering in their communities.
TIAA convened with other corporate leaders in the Charlotte, NC area as part of the Charlotte Corporate Community Roundtable to engage in meaningful conversations about local leaders' efforts to overcome racial disparities. A group of senior leaders from Lowe's, McKinsey, Novant Health, Truist and Charlotte Regional Business Alliance discussed their proactive approaches and intentional plans for their organizations to join the fight against racial inequality in recognition of the anniversary of the ratification of the 14th Amendment.
TIAA's robust Supplier Diversity Program endeavors to develop strong working relationships with suppliers owned by minorities; women; veterans; disabled people; and lesbian, gay, bisexual and transgender (LGBT) individuals. Our investment in diverse supplier development continues through mentoring programs, webinars, and scholarships to pursue immediate improvements to their business that may help them advance their clients' supply chain objectives. Additionally, we established a Sustainable Purchasing Program to answer the call from clients, associates and communities to operate in more environmentally and social responsible ways.
TIAA was proud to welcome Thasunda Brown Duckett to succeed Roger Ferguson as President and CEO of the firm. Thasunda has been a leading voice in the need to close the wealth gap between Black and white Americans and was the executive sponsor of JPMorgan Chase's Advancing Black Pathways, an initiative aimed at helping Black Americans close historical achievement gaps. She is now the second Black woman to currently lead a Fortune 500 company and will continue to champion TIAA's DE&I efforts.
"TIAA has made diversity, equity and inclusion a cornerstone of its culture. Now, more than ever, companies need to create cultures where employees can bring their true, authentic selves to work and be supported by their peers and mentors," said Thasunda Brown Duckett, President and CEO of TIAA. "Fostering a diverse and inclusive environment is not only the right thing to do but also what's best for the long-term health of our business."
The DiversityInc Top 50 list, issued yearly since 2001, recognizes the nation's top companies for diversity and inclusion strategies.
The top 50 companies and their rankings were announced at DiversityInc's virtual event on May 6th.
To view the entire Top 50 list and specialty lists, visit https://www.diversityinc.com/.
About TIAA
With an award-winning1 track record for consistent investment performance, TIAA (TIAA.org) is the leading provider of financial services in the academic, research, medical, cultural and government fields. TIAA has $1.3 trillion in assets under management (as of 3/31/20212) and offers a wide range of financial solutions, including investing, banking, advice and education, and retirement services.
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1The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. Lipper Leaders fund ratings do not constitute and are not intended to constitute investment advice or an offer to sell or the solicitation of an offer to buy any security of any entity in any jurisdiction. For more information, see lipperfundawards.com. The Award is based on a review of risk-adjusted performance of 39 companies for 2016, 36 for 2017, 35 for 2018 & 2019, and 30 for 2020. The award pertains only to the TIAA-CREF mutual funds in the mixed-asset category. Certain funds have fee waivers in effect. Without such waivers ratings could be lower. Past performance does not guarantee future results. For current performance, rankings and prospectuses, please visit TIAA.org.
2Based on approximately $1.3 trillion of assets under management across Nuveen affiliates and TIAA investment management teams as of 3/31/2021.
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