Inclusion and Diversity
We See The Power of Diverse Teams
We believe that diversity contributes to better performance, decision-making and outcomes. For us, inclusion and diversity are essential to our success as a company.
Did You Know?
Companies with high gender diversity are 21% more likely to outperform on profitability than others.1
Companies with high ethnic and
cultural diversity are 33% more likely to financially outperform
Where diversity is valued, performance improves by 12%; intent to stay by 20%.2
As an investment manager entrusted with $3.59 trillion* and as an employer of 2,700 talented people across the globe, we understand the special responsibility we have to our clients and employees to support diversity at every level of our business.
We’re proud of receiving an 100% from the Human Rights Campaign’s Corporate Equality Index and an 100% on the Disability Equality Index, among many other accolades – but we are not stopping there. We’ve made a commitment to measure and improve diversity throughout our organization.
We have launched several efforts internally to recruit, retain and promote more diverse employees such as return-to-work programs for working parents and a Leadership Development Program.
In our 2019 Corporate Social Responsibility report, we have further expanded on our efforts to address racism and inequality among other topics. We have disclosed our EEO-1 survey data, which outlines our employee data by race/ethnicity, gender and job category.
State Street Global Advisors placed Fearless Girl in the heart of New York’s Financial District on the eve of International Women’s Day 2017 to raise awareness about the importance of gender diversity in corporate leadership. Fearless Girl inspired not only the next generation of women leaders, but also 862 companies globally to add a female director to their previously all-male boards.
In August 2020, our Global CIO, Rick Lacaille, released a letter on our diversity strategy and goals, with an announcement on our expectations for public companies regarding racial and ethnic diversity.
To build on this guidance further and in an effort to share our annual stewardship priorities, our President & CEO, Cyrus Taraporevala, released our proxy voting guidance in January 2021 sharing how we intend to use our voice and vote to hold boards accountable on climate change and racial and ethnic diversity.
Two years ago, we started disclosing our EEO-1 data, which details the gender, racial, and ethnic make-up of our employees in the US. In February 2021, we announced our partnership with many leading asset managers, agreeing to disclose EEO-1 data as part of the Corporate Call to Action.
1Delivering through Diversity. McKinsey & Company, 2018.
2Corporate Social Responsibility, Multi-faceted Job-Products, and Employee Outcomes. Journal of Business Ethics, October 2015.
* This figure is presented as of March 31, 2021 and includes approximately $60.33 billion of assets with respect to SPDR products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.
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