AXA XL named to the Diversity Best Practices Inclusion Index
Diversity Best Practices (DBP), a division of Working Mother Media, unveiled its fourth annual Inclusion Index. The index helps organizations understand trends and gaps in demographic representation, creates a road map to drive internal change, and identifies diversity, equity and inclusion (DE&I) solutions to close the gaps. Organizations provided data and were measured in three key areas: best practices in the recruitment, retention and advancement of people from underrepresented groups—women, racial/ethnic minorities, people with disabilities, and LGBTQ people; inclusive corporate culture, including leadership accountability; and demographic diversity for women and racial/ethnic minorities.
AXA XL was among the 98 organizations that earned a score of at least 60 percent (AXA XL’s score was 70%) and a place on the index. This year, 185 organizations participated in the Diversity Best Practices Inclusion Index, a 25 percent year-over-year increase. Twenty of those listed on the 2020 DBP Inclusion Index are recognized for superior achievement by receiving an 81 percent or higher score and qualifying as a Top 10 Percent Inclusion Index Company. Nine of those listed achieved at least 75 percent of the available points to qualify as a Leading Inclusion Index Company. Completed applications were collected online from December 2019 through March 2020. Results reveal opportunities for all organizations to target their diversity and inclusion efforts for greater effectiveness.
“Diversity, equity and inclusion continues to be a topic of critical importance, especially in these times of heightened racism and social injustice,” says Deborah Munster, vice president, Diversity Best Practices. “The good news is that corporate America is paying closer attention to its D&I practices, and I am proud to recognize the work our Inclusion Index companies are doing to elevate their efforts to drive a more equitable future.”
“We are proud to be listed on the Inclusion Index, and acknowledge we still have room for progress. Our inclusion and diversity strategy at AXA XL has three key objectives: drive an inclusive culture, diversify our workforce and support our marketplace and community,” notes Anna Beninger, Global Head of Inclusion & Diversity at AXA XL. “We will achieve these objectives through development and advancement initiatives to increase the number of women and underrepresented groups in senior leadership; a Diverse Slate Recruitment Policy which will require all roles at all levels to have a gender balanced list of finalists; and engagement with our Business Resource Groups to drive our people strategy forward.”
Key findings from the 2020 Diversity Best Practices Inclusion Index are:
Recruitment, retention and advancement: While 100 percent of the top 10 percent require diverse interview slates, requiring diverse panels of interviewers remains less common at 75 percent of Leading Inclusion Index companies (compared to 45 percent of companies on the index). One hundred percent of the top 10 percent and of Leading Inclusion Index organizations, and 97 percent of those on the index, use employee resource groups to recruit underrepresented talent. Eighty-five percent of the top 10 percent organizations require gender and racial/ethnic diversity in succession planning (compared with 79 percent of Leading Inclusion Index organizations and 59 percent of companies on the index).
Inclusive corporate culture: Ninety-five percent of the top 10 percent organizations set percentages goals in diversity (compared with 90 percent of Leading Inclusion Index companies and 65 percent of index companies). Sixty-five percent of the top 10 percent organizations compensate managers for DE&I results (compared with 62 percent of Leading Inclusion Index companies and 42 percent of index companies).
Authored by AXA XL
AXA XL, the new division of AXA Group, combines XL Group operations, AXA Corporate Solutions and AXA Art, to provide property, casualty and specialty risk insurance and risk management products and services for mid-sized companies through to multinationals, and reinsurance solutions to insurance companies globally. We partner with those who move the world forward.
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