Utilities Score High in Diversity

Utilities Score High in Diversity

Nov 19 - Electric Perspectives

Utilities across the nation put in a strong showing in Fortune's top 50 list for the most diverse companies. Sempra Energy, Southern California Edison, PNM Resources, PG&E Corporation, Consolidated Edison, DTE Energy, and Pepco all made the top 50.

According to the Fortune article, judging a company's commitment to diversity is more complicated today than it was 20 years ago, when it was measured by simple hiring records. The culture is shifting rapidly: Minorities make up 21 percent of company boardrooms today, compared with 11 percent just two years ago.

The rankings model weights the number of minorities in the workforce and the number on the board; the rate at which minorities are hired and fired; and how managers are made accountable for hiring, promotion, and retention.

Supporting diversity through minority business development was the focus of Edison Electric Institute 2004 Supplier Diversity Conference last May. TXU earned the industry's Supplier Diversity Excellence Award for its efforts in developing minorityand women- owned business enterprises (MWBES) in the electric power marketplace. The company has a variety of initiatives to expand MWBE business opportunities:

* annual corporate MWBE expenditure goals to help facilitate continued progress;

* a year-round focus on developing new and innovative company procurement approaches for working with MWBES, including monthly meetings to review and discuss upcoming bid opportunities and a supplier diversity "Gold Star" recognition program to award company representatives for their efforts and contributions to the company's progress;

* innovative approaches to mentoring and procurement opportunities in nontraditional areas; and

* encouragement for its nonminority business partners to include mwbes in TXU projects.

Next year's conference will take place in May in Long Beach, CA. For more information, contact Deborah Matthews at dmatthews@eei.org .