11 Companies with Initiatives to Support the Success of Latina Employees
Written by Katie Johnson, WIN Staff
While Women’s Equal Pay Day may have been in March of this year, not all women experience pay inequities of the same caliber. Equal Pay Day for all women was recognized on March 24th of 2021 because women, on average, make 82 cents for every dollar that white, non-Hispanic men make. Today, October 21, 2021, marks the day when Latinas have finally earned the same amount that their white, non-Hispanic male counterparts would have earned in 2020. This is because the average Latina woman only earns 57 cents to every dollar a man makes
As the lowest paid of any group, the reality is that Latina’s work is consistently undervalued. We recognize that negotiating can only go so far and for decades, the systems in place have failed Latina women more than any other group. Since 1988, the wage gap between Latina women and white non-Hispanic men has closed by a measly 4% and if is to continue at this rate, they will not achieve equal pay until 2451!
There is no single solution to reach gender pay equality. Instead, there will need to be systemic change on a multitude of levels. In the coming years, the population of the United States and its workforce will become increasingly more Hispanic. At WIN, we’re constantly advocating for women to raise their voices, evaluate their value, and negotiate for more. Beyond this, we recognize that company policies have a huge role in helping women achieve more in their careers. In honor of Latina Women’s Equal Pay Day, we wanted to highlight 11 companies clearly committed to celebrating and supporting their Hispanic and Latinx employees. From initiatives such as employee resource groups, events, mentorship, and advancement opportunities, these 11 companies that have some of the strongest initiatives to help support the success of their Latina employees.
1. Johnson & Johnson
Johnson & Johnson has received dozens of notable awards and recognitions as a company that supports diversity. Most notably, they were recognized as #3 in 2019 and #4 in 2020 on the Top 50 Companies for Latina according to LATINA Style 50 Report. In 2019, Johnson & Johnson’s Latin America operations became the first region to achieve gender parity across its global workforce. They continue to offer unconscious bias training and host ERGs all over the world which play a role in referring new candidates during the hiring process.
2. Accenture
Recognized as #2 in the 2020 Top 50 Companies for Latina, Accenture stands out for its diverse leadership. CEO Julia Sweet leads a diverse team of 31.9% women executives and 41.6% minority executives. They are constantly looking for new ways to increase their ethnic and racial diversity hiring. According to their website, as of February 1, 2021, they have dollar-for-dollar, 100% pay equity for women compared to men, in every country where they operate.
3. Bank of America
With over 180,000 members of their 11 Employee Networks, Bank of America is committed to helping foster a more inclusive environment for their employees. Their Hispanic/Latino Organization for Leadership & Advancement (HOLA) has 36 chapters with 13,000+ members. With their Hispanic Business Owner Spotlight, they explore the challenges, goals, and everyday realities of Hispanic entrepreneurs and showcases their real commitment to addressing issues facing the Hispanic-Latinx community.
4. 3M
In 2020, 3M was named one of the Top 50 Best Companies for Latinas to Work for in the U.S. by LATINA Style 50 Report. With a continued commitment to foster an engaging, collaborative environment, they have a strong ERG community with a Latinx ERG with nearly 200 members. In addition to ERGs, they strive to highlight their Latinx employees’ individual accomplishments through their Hspanic Engineers’ Star of Tomorrow award.
5. CVS Health
CVS Health supports inclusivity through different partnerships in Latin communities. Their Latin Collegue Resource Group, Juntos, “cultivates and fosters a positive ecosystem where Latin culture awareness promotes inclusivity through partnership opportunities in our Latin communities reinforced through colleague empowerment.” Number 9 on LATINA Style 50 Report for the Top Companies for Latinas to Work, "CVS Health has a presence in nearly 10,000 communities across the country, and for our company to thrive, we need a highly trained, culturally diverse health care workforce that is reflective of the communities we serve," said Lisa Bisaccia, EVP and Chief Human Resources Officer for CVS Health.
6. New York Life
In 2018, New York Life was ranked #7 in the top 50 Best Companies for Latinas to Work for in the U.S. by LATINA Style magazine. In 2020, they were ranked. #3. Always focused on greater equity for their employees, Ted Mathas, the CEO said “Everyone is encouraged to bring their own perspectives to the table—whether it’s cultural background, generational beliefs, or personal style.”
7. Aflac
The 21st year, Aflac has been recognized as one of the 50 Best Companies for Latinas to Work for in the United States. This year in its 23-year history of the LATINA Style 50 Report, it stands as the highest-ever ranking. Aflac's commitment goes beyond talking about diversity to actions that promote equity and inclusion. It is reflected in the composition of its workforce, in which about 65% employees are women and nearly half are minorities, the equity of its pay policies, and the initiatives the company continually undertakes to ensure its workforce knows there is an opportunity to grow and that their contributions are valued. Additionally, Aflac Incorporated's DE&I footprint extends beyond its corporate walls with 64% of its board members being minorities or women.
8. Dell
With a Global Diversity Council that constantly works to create a more inclusive company, from recruiting to workplace culture, Dell continuously increases its procurement, employment, and governance efforts to include leaders of color. They have partnered switch the Hispanic Association on Corporate Responsibility (HACR) to assist with these efforts. Dell maximizes their inclusion capabilities through the use of ERGs and continuously promotes emerging Latina leaders.
9. Wells Fargo & Company
Wells Fargo’s ERG Latin Connection helps to promote “awareness and understanding of the Hispanic marketplace within and across segments.” With over 8,300 members and 43 chapters nationwide, Latin Connection provides professional and career development, mentoring, leadership, and community outreach opportunities focused on building the future for all Hispanic members of the company. Their devotion to enhancing their DEI initiatives landed them the 12th spot on the 50 Best Companies for Latinas by LATINA Style in 2020. According to their website, they engage a third-party consultant to conduct an objective, statistical pay equity analysis annually in which they include both gender and race/ethnicity in their reviews.
10. USAA
USAA has had a longstanding commitment to the Hispanic-Latinx community at large. In 1999, they partnered with UTSA to start the Access College and excel Program. This program was designed to recruit top students from Latino schools and mentor them through their transition to college and graduation. With a workforce that is 31 percent Hispanic, diversity, equity, inclusion, and overall wellness for employees continues to grow as a strategic focus area for USAA.
11. Raytheon Technologies
In 2021, Raytheon Technologies earned a five-star rating from the Hispanic Association on Corporate Responsibility in two of the four major categories on the organization’s Corporate Inclusion Index. They are recognized for their DEI efforts and employment practices and earned the #13 spot on the 2020 LATINA Style 50 Report for the Best Companies for Latinas to Work for in the U.S.
We can always help one another. Remember that sharing your wage helps give people vital information to help them leverage their value or negotiate for more. By standing together, we can help create a more equitable workplace for all.
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