BlackRock’s report shows that in 2019, four of its 103 executive or senior-level employees (3.9 percent) were Black. BlackRock said in a statement that the firm has “made strides” but “we acknowledge significant work remains ahead to realize sustainable change, and the disclosure of our EEO-1 data is an important step towards greater transparency and accountability.”
Target’s release, meanwhile, showed that 40 of its 777 executive or senior-level employees were Black (5.1 percent) and 50 were Hispanic or Latino (6.4 percent). In a statement, Target called being more transparent about their data “the next step in our journey to build an organization that is more diverse, equitable and inclusive.”
The announcement follows a campaign Stringer launched in July, as corporate America rushed to respond to protests spotlighting police brutality against Black Americans with promises to improve diversity. His office sent letters to 67 major firms that issued statements, urging them to “walk the walk and publicly disclose” their workforce demographics by Aug. 30 or risk being targeted with shareholder proposals next year.
The federal EEO-1 report is the “gold standard” for diversity disclosure, Stringer’s announcement said. The form gives a breakdown of companies’ race and gender across 10 job categories, and companies with 100 or more employees as well as some federal contractors are required to submit it to the U.S. Equal Employment Opportunity Commission.
“Companies know there is growing investor interest in workplace diversity, particularly given the public outcry over racial justice and the lack of representation in corporate America,” Stringer said in an emailed statement. “Investors need this data so we can assess company performance and hold them accountable.”
Last year, The Washington Post asked the 15 largest U.S. banks to share their full EEO-1 reports, and only two either released their full report or had already done