Pharma co's make Fortune 'best' list

September 1, 2000

Pharmaceutical Representative

Abbott Laboratories, Abbott Park, IL, Eli Lilly and Co., Indianapolis, and Schering-Plough Corp., Madison NJ, were named number 38, 40 and 45 respectively on Fortune magazine's list of 50 Best Companies for Minorities. The list is compiled through a collaboration between Fortune and the Council on Economic Priorities, a New York nonprofit research organization. The results were tallied from surveys sent to all of the companies in the Fortune 1,000, plus the 200 largest privately held firms in the United States, of which 148 responded. Results were analyzed for how well companies stacked up against one another in 15 different quantitative and qualitative categories, from what percentage of new hires are minorities to whether the company ties performance reviews and bonuses to diversity goals. Special attention was paid to how many minorities are in leadership roles at each company.

Abbott Laboratories, Abbott Park, IL, Eli Lilly and Co., Indianapolis, and Schering-Plough Corp., Madison NJ, were named number 38, 40 and 45 respectively on Fortune magazine's list of 50 Best Companies for Minorities. The list is compiled through a collaboration between Fortune and the Council on Economic Priorities, a New York nonprofit research organization. The results were tallied from surveys sent to all of the companies in the Fortune 1,000, plus the 200 largest privately held firms in the United States, of which 148 responded. Results were analyzed for how well companies stacked up against one another in 15 different quantitative and qualitative categories, from what percentage of new hires are minorities to whether the company ties performance reviews and bonuses to diversity goals. Special attention was paid to how many minorities are in leadership roles at each company.

This year, new criteria were added including a comparison of the minority turnover rate to that of whites and an examination of how well minorities are represented in management compared with the work force as a whole.

According to Abbott, having a diverse work force does more than just rank the company on a list. "Our company needs the benefit of the widest variety of viewpoints and experiences," said Miles D. White, chairman and CEO of Abbott. "Fostering a diverse workplace and inclusive environment allows us to embrace different ways of thinking and doing business that are vital to our future success."

All three companies pledged to continue to offer equal opportunities for employees of all races. Said John P. Ryan, Schering-Plough's senior vice president of human resources, "A commitment to work force diversity is an important responsibility of every manager at Schering-Plough. This commitment encompasses not only our recruiting efforts, but also in challenging employees of both genders and all nationalities and races to achieve their full potential through career development and job opportunities." PR

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