DiversityInc is an American company focused on issues of diversity and inclusion in the workplace. Founded in 1997 in New Jersey as an online publication, the company started the DiversityInc Top 50 Companies for Diversity list in 2001, and in 2002 began a bi-monthly print magazine. Circulation of DiversityInc was 194,000 as of March 2016. DiversityInc's annual list of the top 50 companies for diversity has been covered in media outlets such as NPR, CNBC, Business Insider, and Entrepreneur, the latter of which reported that "the organization's research shows that more diverse companies are more profitable." The DiversityInc Foundation, a 501(c)(3) non-profit organization, was founded in 2006 and has distributed around $1.5 million to fund scholarships after its inception.
Founding and early years
The company DiversityInc was established in 1997 as an online publication. Founded by company CEO and partner Luke Visconti, the publication focused on diversity and inclusion issues in the workplace. According to Bloomberg Businessweek, DiversityInc was formed to "track and report on all things diverse in companies: to keep up with legal wranglings, report diversity-related news, and serve as a sort of watchdog for Corporate America." In 2001, the company started the DiversityInc Top 50 Companies for Diversity.
Publications and foundation
In 2002 the company began publishing a print magazine, which had a circulation of around 100,000 by 2003. DiversityInc produces daily news, publishes a daily email newsletter and operates DiversityInc Best Practices, a subscription-based website with business and management information relevant to management diversity and human capital.
In 2006 Visconti founded the DiversityInc Foundation, a 501(c)(3) non-profit organization which helps fund scholarships at various universities using "4 percent of DiversityInc’s gross revenue." From 2006 to 2015, the DiversityInc Foundation distributed around $1,500,000.
DiversityInc Media was headquartered in Newark, New Jersey as of 2007, and moved to Princeton, New Jersey in 2011, where Visconti leads the editorial and business operations. The company additionally produces diversity conference events and operates a benchmarking consulting business. DiversityInc’s Benchmarking practise had around 70 corporate clients in 2015.
The DiversityInc Top 50 event moved to Cipriani Wall Street in New York City in 2013. The 2016 "Top 50 event," with around 1,000 attendees and 30 sponsors, will take place April 19. CNBC has covered the Top 50 after 2013, citing research that claims that DiversityInc Top 50 companies outperform the Dow Jones Industrial Average and S&P 500. Circulation of DiversityInc was 194,000 as of March 2016.
Top 50 Companies for Diversity
Since 2001, DiversityInc has published an annual list of the top 50 companies for diversity. Though the survey covers a range of industries, it is limited to companies with headquarters in the United States with more than 1,000 employees. Companies submit data in the areas of recruiting, talent development, senior leadership, accountability and supplier diversity. CEO Luke Visconti developed the survey's methodology, utilising the "data collected in the Top 50 process to develop DiversityInc’s Consulting and Benchmarking practice."
The Top 50 competition has around 1,000 participants annually, with the results entirely driven by metrics, independent of business conducted with the company. It is free to participate in the survey, and DiversityInc additionally sends free "report cards" to participating companies. The report cards look at "four key areas of diversity management," described as talent "pipeline," supplier diversity, leadership commitment, and "equitable talent development." Visconti described the 2015 list to Business Insider as "metrics-driven, and the ranking primarily reflects fairness in human capital results, including five levels of management." It "measured human capital in seven variables, including gender and race; fairness and equity from recruitment to development and retention; and supplier diversity."
DiversityInc additionally publishes a variety of "specialty" lists. In 2015, these surveys included their "25 noteworthy companies," "top 10 regional companies," "top 5 utilities," "top 5 hospitals and health systems," and various top 10 company lists for diversity councils, employee resource groups, global diversity, LGBT employees, mentoring, people with disabilities, recruitment, supplier diversity, and veterans.
In the media
DiversityInc's articles and rankings have earned a fair degree of coverage in the business press. Among additional media outlets, NPR's Travis Smiley discussed the findings of the "Top 50 Companies for Diversity" list in April 2004. When CNBC reported on the top 50 list in 2014, journalist Eric Rosenbaum noted the lack of Silicon Valley companies that made the cut, with only the tech companies IBM and Dell among the top 50. Business Insider reported on the list in 2015, as did Entrepreneur, with journalist Mariah Deleon reporting that "the organization's research shows that more diverse companies are more profitable."