DiversityInc announced that BASF Corporation took the 26th spot on the 14th annual Top 50 Companies for Diversity rankings before a gathering of more than 750 attendees last evening at Cipriani Wall Street. More than a thousand public and privately held companies competed for spots on the coveted list.
“Earning a spot on the Diversity Top 50 proves that management is paying close attention to the needs of their primary constituents—employees, customers and other key stakeholders,” said DiversityInc founder and CEO, Luke Visconti. “Companies with great reputations attract the best and most skilled employees who then create and deliver the best products and services. It’s a virtuous cycle that enables public companies on the DiversityInc Top 50 list to consistently outperform the major domestic stock market indices and privately held companies to surpass their peers.”
"At BASF, we create chemistry for a sustainable future," said Hans Engel, Chairman and CEO, BASF Corporation. "One key part of doing this is using the power of diversity to drive innovation and growth. Through efforts to attract, develop and retain the best and most diverse team, we gain access to a broad range of new ideas and different perspectives which drives our profitable growth."
In its second year on the list, BASF moves up five spots to #26. In recognizing BASF, DiversityInc. cited the company’s diversity-management initiatives led by a strong executive Diversity + Inclusion Council, rigorous metrics to assess success, and continuing work to deepen accountability measures. In addition, DiversityInc. also recognized BASF as a Top 10 Company for Diversity Councils at #10 and a Top Company for people with disabilities at #9.
"We will only meet our ambitious business goals by becoming more diverse and inclusive," said Patricia Rossman, Chief Diversity Officer, BASF Corporation. "Our efforts supporting inclusive leadership, expanded talent sources, employee resource groups, and metrics deliver competitive advantages for our customers and personal advantages for our people."
The Top 50 rankings are determined by an objective methodology that calculates factors such as Talent Pipeline, Equitable Talent Development (including commitments to mentorship and philanthropy), CEO/Leadership Commitment, and Supplier Diversity. The empirical data for the rankings is provided by a 300-question survey, with survey participation open to any company with at least 1,000 U.S. workers.