Best Company for Women to Advance and Best Company for People of Color to Advance
MEMPHIS, Tenn., May 18, 2023 /PRNewswire/ — First Horizon Corp. (NYSE: FHN or “First Horizon”) today announced it has been named to both the 2023 Parity.Org Best Companies for Women to Advance™ list and to the first-ever Parity.Org Best Companies for People of Color to Advance™ list. First Horizon is one of just 18 companies to earn a spot on both honor rolls.
The ParityLIST™ program recognizes organizations that are creating the culture and conditions in which underrepresented groups can rise. Companies are rated across a comprehensive rubric covering recruiting, promotion, and compensation practices, as well as specific employee benefits and policies and quantitative representation at the leadership level.
“Over the past several years, there’s been a real awakening to the inequities in our world, and the need to address those things,” said Parity.Org President Dina Schenk. “It’s gratifying to see that the companies on this year’s ParityLISTs are not letting up or losing focus. They are continuing to innovate and to invest in leveling the playing so that all employees have equal and equitable opportunities to be hired, to be recognized, and to thrive.”
The 2023 Best Companies for Women to Advance™ honorees had a number of policies and practices in common, such as:
- Actively monitoring recruitment, promotion, and attrition rates by gender (91%)
- Leveraging a formal pay equity plan to identify and correct pay gaps (86%)
- Providing dedicated, convenient, and private lactation rooms for nursing mothers. (100%)
- Offering flexible working arrangements (95%)
- Offering equal family leave to both men and women (81%) –and encouraging men to take their full family leave (98%)
- Regularly measuring and reporting on gender representation and equity to the Executive Team (86%)
The inaugural Best Companies for People of Color to Advance™ honorees also distinguished themselves on a number of dimensions, such as:
- Implementing targeted strategies to recruit people of color into the organization (89%)
- Proactively informing and encouraging employees of color to pursue available opportunities (83%)
- Developing benefit packages that consider the unique needs of employees of color, not strictly the needs of the majority (e.g., white employees) (71%)
- Prioritizing skills over formal educational credentials and years of experience whenever possible (89%)
- Conducting anti-bias training for all employees (89%), plus more specialized training for managers (83%)
- Establishing Employee Resource Groups (ESGs) for employees of color (89%) and leveraging feedback from those groups to directly inform policies and benefits (83%)
In addition, virtually every company on both ParityLISTs has a zero-tolerance policy for harassment, and a safe reporting system that ensures employees are not punished in any way for reporting incidents of discrimination and harassment.
“I am proud to work for a company that consistently ranks as one of the best in the nation for women and people of color in the workforce,” said Tanya Hart, executive vice president and chief human resources officer at First Horizon. “This recognition validates our efforts to elevate equity in every aspect of our organization. We continue to remain focused on creating opportunities for women and people of color to develop and advance by providing an inclusive and collaborative environment.”
For a full list of honorees, and to download a free Key Findings Report outlining more details about the honorees’ policies and benefits, visit: www.parity.org/best-companies.
About First Horizon
First Horizon Corp. (NYSE: FHN), with $80.7 billion in assets as of March 31, 2023, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services. First Horizon has been recognized as one of the nation’s best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.
Parity.Org is the leading impact organization increasing representation of women and people of color in organizational leadership, where the gap is the widest. We take a pragmatic and research-based approach, offering a range of proven best practices and industry-leading tools for not only reaching—but sustaining—diversity in leadership. Learn more at Parity.Org and follow us on LinkedIn.
SOURCE First Horizon Corporation