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For the third consecutive year, Yum! Brands, Inc. has been named one of FORTUNE magazine's "Top 50 Employers for Minorities" for its comprehensive results across key diversity measures.
The magazine surveyed over 1,000 public and private U.S. companies and made its selection based on the level of minority representation throughout the organization including compensation, managerial diversity, board of director compensation, workforce composition and CEO commitment to diversity, among other categories. In 2003, Yum! Brands ranked 35th on FORTUNE's "Top 50 Employers for Minorities" list and in 2004, Yum! jumped 20 spots to place 15th out of 50 on the list. Beginning this year, the magazine no longer ranks its "Top 50 Employers for Minorities" numerically, but lists them alphabetically.
"Yum! Brands' commitment to diversity helps drive all aspects of our business. We're honored to be recognized for our diversity achievements," says David Novak, chairman and CEO. "FORTUNE magazine's recognition, in addition to being named one of BLACK ENTERPRISE's '30 Best Companies for Diversity,' only serves to fuel our passion to get better and better."
For the past three years, FORTUNE has recognized Yum! Brands for its diverse workforce. More than 50 percent of Yum!'s U.S. workforce are minorities, and more than 50 percent of the company's new hires are minorities.
Yum!'s diversity strategy includes employment, leadership development, purchasing, and community involvement. The company and its franchise partners support leading community organizations such as the NAACP and the National Urban League; plus, many of Yum! Brands' philanthropic efforts are focused on minority community giving and employee volunteer involvement through programs such as Louisville-based Dare to Care Food Bank.