Approximately 75 per cent of Fortune 1000 (F1000) don’t have a Latino/a director on their board — but a new initiative is hoping to change that, with The Latino Board Tracker.
Launched on February 20 by the Latino Corporate Directors Association (LCDA), the database lists U.S.-based F1000 companies and provides a star-based rating based on the number of Latino/as serving on the organization’s board.
Companies can be searched by F1000 rank, name, location, and the number of Latino/as on each board. Currently, only 32 companies have received a “gold star” rating of having two or more Latino/a directors.
“LCDA is filling a gap with the Latino Board Tracker because reporting by race and ethnicity is currently not required of corporate boards,” Esther Aguilera, CEO of LCDA, said in a statement.
“This tool is a baseline; it is our hope that boards and directors will surface with additional information about current board composition that will enable the most accurate data available.”
The LCDA says its reporting methodology is comprised of publicly-available information.
Diversity and inclusion more than a buzzword
The LCDA tracker is an example of a series of campaigns aimed at promoting diversity and inclusion at work.
While D&I is trending upward, research suggests the push is more than a passing trend.
That’s because a welcoming professional environment isn’t just right from a moral standpoint: research suggests that supporting all minority groups — including white women, people of colour, individuals with disabilities, and those from the LGBTQ+ community — can help a company’s bottom line, allow employers and schools to develop untapped talent, and gives institutions a competitive edge.