The report highlights the ongoing need for greater focus on Hispanic inclusion.
WASHINGTON, Oct. 16, 2024 /PRNewswire/ — The newly released 2024 HACR Corporate Inclusion Index™ (CII) Report reveals that American corporations still have significant strides to make in fully including Hispanics at all levels—from employment and corporate boards to supplier partnerships and philanthropic contributions. The report aggregated data from 84 participating corporations, mostly 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 2024 HACR CII examined Hispanic corporate inclusion practices from 2023.
“The data show that we still have a long way to go toward achieving full economic reciprocity for Hispanics in the corporate sector,” said HACR President and CEO, Cid Wilson. “But in this extraordinary year, as we face a strong backlash against diversity and inclusion, this report gives us hope. Despite the challenges, some of the nation’s largest companies have stood strong by participating in our survey, reaffirming their commitment to Hispanic inclusion. Returning participants gain a clear view of their progress year over year, while new companies set a vital baseline for future growth.”
Key findings include:
- TALENT PIPELINES & HIRING
- Among all participating companies, 14% of interns at participating companies are Hispanic.
- 56% of Hispanic employees at participating companies are non-exempt.
- C-SUITE & BOARDS
- 8% of individuals on boards of participating companies are Hispanic.
- 38% of participating companies had no Hispanic board members.
- 54% of participating companies had no Hispanic executives.
- SUPPLIERS & PROCUREMENT
- Fewer than 1% of suppliers are Hispanic.
- Just over 1% of total spend is with Hispanic-owned businesses.
- Philanthropy
- 12% of total corporate donations went to the Hispanic community.
- 2% of volunteer hours were in the Hispanic community.
HACR’s Research Institute conducts the HACR Corporate Inclusion Index™ Report to measure Hispanic inclusion in HACR’s four pillars of economic reciprocity: Employment, Procurement, Governance, and Philanthropy. This year, 84 companies participated in the report, and 32 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.
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 two companies 5-Star ratings in all four pillars of inclusion: Medtronic Plc and Edison International. HACR celebrates their partnership and commitment to the advancement of Hispanics and acknowledges all 2024 participating companies’ demonstrated dedication to data-based benchmarking and actionable change.
To explore all 2024 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 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.
Media Contact:
Andrea Orlando
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SOURCE Hispanic Association on Corporate Responsibility (HACR)
