CLEVELAND, Ohio -- A new report released by global power management company Eaton Corp. sets goals for improving the diversity of the company’s global workforce by 2030.
The inclusion and diversity transparency report, released on Tuesday, says Eaton is committed to maintaining or increasing its current representation of women and U.S. minorities on its board of directors and global leadership team over the next decade. The company’s board of directors is currently comprised of 50% women or U.S. minorities, and its global leadership team is comprised of 54% U.S. minorities.
Eaton also plans to increase its overall representation of women and U.S. minorities by 2030. The company’s total employees, which includes salaried and hourly employees, currently consists of 32.1% women and 31.2% U.S. minorities. The report sets goals of increasing diversity to 40% women and 34% U.S. minorities for salaried employees over the next decade.
Eaton is putting an emphasis on increasing the number of women and minorities who are hired for or promoted to executive and management roles, said Monica Jackson, Eaton’s vice president of global inclusion and diversity.
The company has made headway in increasing diversity among executives and management over the past eight years, the report says. Globally only 16.9% of those roles were filled by women in 2012, but that increased to 22.7% by last year. In the U.S., minorities made up just 14.8% of executives and managers in 2012, but that increased to 18.2% by last year.
“We want to be ambitious,” Jackson said in an interview with cleveland.com. “We know that there’s much more work to do. If you think about the percent representation of women and minorities, we want to be closer to their current representation.”
Jackson also noted that Eaton knows it “can’t hire its way to success.” The company also needs to focus on retaining and promoting talent within the organization, she said.
The report says Eaton, which is headquartered in Ireland but has a campus in Beachwood, is focused on establishing practices that will help the company increase diversity and inclusion over the long term.
“Consider the lack of sustainable progress in this space over so many years. This is due in part to short-term initiatives which have not focused on the true root causes or the ‘long game,’” Jackson said in the report. “Inclusion and diversity is a complex puzzle—made up of several uniquely-shaped pieces with the potential to interlock, and in turn, unlock true innovation and growth.”
The report touches on how the last year has seen a shift in how individuals, businesses, governments and other entities have worked to address the systemic racism that has long existed in America. The police killings of George Floyd and Breonna Taylor sparked a larger conversation about racial justice and the country’s history of disenfranchising Black people and other people of color.
“This past year was punctuated by moments that challenged companies to decide how they would lead in this important moment in history: to be quiet and avoid the risk of offending someone, or to take a position and lead by our stated values,” Eaton Chairman and CEO Craig Arnold said in the report. “At Eaton, we chose to take a position and lead by our values.”
Eaton is the latest U.S. company to release detailed data on diversity and inclusion efforts for its workforce. In August, Securities and Exchange Commission chair Gary Gensler suggested in a Twitter thread that the SEC could mandate disclosing workforce turnover, diversity, skills and development training, benefits, compensation and health safety.
Diversity among Eaton employees
The report offers an overall look at the diversity among Eaton’s workforce, which includes more than 25,000 employees in the U.S and more than 85,000 across the globe.
White employees make up 68.7% of the company’s U.S. workforce, according to the report. More than 15% of employees are Black; 8.6% are Hispanic or Latino; 5.6% are Asian; and 0.5% are Indigenous. Just over 1% of employees identified as two or more races.
Eaton has 12 people on its board of directors, and 50% of them are women or U.S. minorities, according to the report. U.S. minorities also make up 54% of Eaton’s global leadership team.
Women were represented in 21.2% of executive positions and 18% of managerial positions across the globe as of Dec. 31, 2020.
Meanwhile, U.S. minorities were represented in 17.7% of executive positions and 18% of managerial positions within the country as of the same date. Data on minority status is only tracked within the U.S., which is why Eaton’s report does not include minority data for its global workforce, Jackson said in an interview with cleveland.com.
Eaton can continue to grow by opening itself to “the unfamiliar, and at times, even the uncomfortable,” said Ernest Marshall, the company’s executive vice president and chief human resources officer.
“But to grow personally and professionally, we must be intentional about inclusion,” Marshall said in the report. “We must be decisive when it comes to our commitment to diversity. It’s what lets our people know they matter, what builds better teams, and what ultimately enables us all to flourish.”
Further efforts to promote inclusion
The report also focuses on Eaton’s work to improve diversity and inclusion among other groups, such as the LGBTQ+ community, people with disabilities and veterans.
The company has eight Inclusion Eaton resource groups (iERGs) that help bring employees together “who share a common purpose, interest or background,” the report says. They also work to build people’s knowledge and understanding of difference cultures, and members provide feedback on how the company can better its diverse talent pipeline.
Each iERG also has a minimum of three executive sponsors from the global leadership team who meet quarterly to look at strategic plans and progress.
The eight iERGs help serve employees in the LGBTQ+ community; employees who have a disability; women; veterans; people who are Hispanic or Latino; people from the Asian community; and people who are Black, indigenous or a person of color. The eighth group is focused on Eaton’s next generation and achieving goals, and it provides learning opportunities for all employees.
According to the report, 11.4% of all employees are in at least one iERG, and 49% of iERG members are Millennials. In addition, 16% of all women and 15% of all U.S. minorities employed by Eaton are part of at least one iERG.
“Eaton is a much better place because of our iERGs,” Nirmal Vas, manager of Eaton’s Inclusion Resource Groups, said in the report. “They serve as the voice of our employees to our leaders, foster impactful programs and drive sustainable change.”
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Eaton Corp. report sets goals for improving diversity, inclusion by 2030 - cleveland.com
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