2015 HACR Hispanic Procurement Report
The Hispanic Association on Corporate Responsibility (HACR) released today the 2015 HACR Hispanic Procurement Report, featuring statistics demonstrating the growth of Hispanic-owned businesses in the U.S. and trends in procurement spend with Hispanic-owned businesses. The 2015 HACR Hispanic Procurement Report reveals that the growth of Hispanic-owned businesses in the U.S. have created more opportunities for corporate partnerships today compared to previous years, however overall procurement spend with Hispanic-owned businesses remains low. Changes in spend with Hispanic suppliers is not keeping pace with the growth of Hispanic entrepreneurs.
Key highlights of the 2015 HACR Hispanic Procurement Report include:
· The average total number of U.S. based Hispanic suppliers for the sample was 187 in 2014 compared to 169 in 2013.
· The average total U.S. based procurement spend with Hispanic-owned businesses was nearly $800 million in 2014.
· 96 percent of the sample had a strategic plan for supplier diversity which was reviewed regularly.
The 2015 HACR Hispanic Procurement Report serves as a tool for Fortune 500 companies to gain a better understanding of the opportunities and challenges that companies have when working with minority vendors, as well as offers recommendations for how to increase the utilization of these vendors moving forward.
To read the 2015 HACR Hispanic Procurement Report, please click here.
HACR 2014 Corporate Inclusion Index
The Hispanic Association on Corporate Responsibility (HACR), one of the nation’s leading Hispanic advocacy organizations, released today the results of its 2014 HACR Corporate Inclusion Index (HACR CII).
The HACR CII is a component of HACR’s Corporate Accountability Strategy and measures Hispanic inclusion at Fortune 100 companies and HACR Corporate Member companies. The results of the 2014 HACR CII indicate more than 25 percent of this year’s returning participants have improved their rating from 2013, which reflects a commitment to diversity and Hispanic inclusion.
Since 2009, the HACR CII has tracked trends in Corporate America in four areas: Employment, Procurement, Philanthropy, and Governance. HACR focuses on these four areas of corporate social responsibility and market reciprocity to measure the inclusion of Hispanics in Corporate America. HACR’s mission is to advance inclusion to a level commensurate with the economic contributions of Hispanics in the United States, currently the nation’s fastest growing consumer segment.
Key highlights from this survey include:
• Hispanics comprise an average of nearly 14% of the total reported employee base in Corporate America.
• Hispanics are still more likely to be found in non-exempt positions within Corporate America.
• On average, participants reported directing slightly more than 1% of total procurement spend to Hispanic-owned businesses.
• Average total charitable contributions made by participants in 2014 equaled $81,634,125 while average total contributions to Hispanic-led and community organizations amounted to only $5,195,119.
• Hispanics held just over 6% of board seats amongst the participating companies, which is higher than the average within the Fortune 500, but is still considered low.
To view the 2014 HACR CII, please click here.
HACR 2013 Corporate Governance Study Appendix
The 2013 HACR Corporate Governance Study Appendix accompanies the 2013 HACR Corporate Governance Study and recognizes all Hispanics serving as corporate directors. The Appendix also highlights the companies that have Hispanic directors and those with multiple directors. In the 2013 Corporate Governance Study Appendix we also recognize the companies who have Hispanic Chief Executive Officers and commend them for understanding the importance of diversifying the C-suite.
To read the appendix click here. To print or download the appendix click here.
HACR 2013 Corporate Governance Study
Since 1993, HACR has produced research on corporate governance and the 2013 HACR Corporate Governance Study (CGS) marks almost 20 years of little progress for Hispanic inclusion on corporate boards.
The Hispanic Association on Corporate Responsibility (HACR) announced the findings today from its 2013 Corporate Governance Study (CGS) revealing Latinas only hold 37 out of 5,511 board seats in the Fortune 500.
The HACR CGS measures Hispanic inclusion in the C-Suite and boardrooms in Fortune 500 companies. The HACR CGS is a publication of the HACR Research Institute (HRI), the research arm of HACR which is devoted to objective research and analysis of Hispanic-related issues in Corporate America.
Key findings include:
• Hispanics held three percent of seats in the boardroom of the Fortune 500
• 70 percent or nearly 350 companies of the Fortune 500 did not have a Hispanic on their board
• Only two percent or 10 Fortune 500 CEOs are of Hispanic heritage
• 133 Hispanic individuals held 171 board seats in the Fortune 500
• Only four percent of Fortune 500 companies had two Hispanics on their board
To read the report click here. To print or download the report click here.
To read the 2013 Corporate Governance Study Appendix click here.
HACR 2013 Corporate Inclusion Index
The Hispanic Association on Corporate Responsibility (HACR) announced the findings today from its 2013 Corporate Inclusion Index (HACR CII). The number of participants for the 2013 HACR CII has increased for the fifth consecutive year and the publication highlights recurring trends since 2009 in the areas representing the organization’s four pillars of Employment, Governance, Philanthropy, and Procurement.
Key findings include:
• 39 percent of Fortune 500 companies participated in this year’s survey, which included four out of the top 10 Fortune 100 companies.
• Hispanics comprise an average of more than 13 percent of the total reported employee base in Corporate America.
• On average, participants reported directing nearly two percent of total procurement spend to Hispanic-owned businesses.
• Average annual charitable contributions to the Hispanic community and Hispanic organizations for the 2013 HACR CII participants totaled nearly 10 percent.
The HACR CII, a component of HACR's Corporate Accountability Strategy, takes a comprehensive measurement of Hispanic inclusion at Fortune 100 companies and HACR corporate member companies by focusing on HACR's four pillars of corporate social responsibility and market reciprocity. “On behalf of HACR’s Board of Directors, we congratulate all of the participants of this year’s HACR CII. Increased participation and greater transparency have enabled HACR to better assess how Hispanics are faring along our four pillars,” said Dr. Lisette M. Garcia, director, HACR Research Institute. “Though there is still much work to be done, the significance of the trends we have seen show us that the strength of the Hispanic consumer continues to grow and Corporate America must recognize that the Hispanic population is the key to renewing an aging labor force and essential to preserving market position."
To view the 2013 HACR CII, please click here.
HACR 2013 Employee Resource Group Study
The HACR Research Institute’s first Hispanic Employee Resource Group (ERG) Study, funded by AARP and launched in late 2012, was created to benchmark Hispanic ERGs and ascertain what’s driving their growth, highlight best practices, and identify current and future challenges.
Two dozen Fortune 500 companies participated in the Institute’s groundbreaking study which captures insights from Human Resources (HR) departments, ERG members and leaders, as well as their executive sponsors and champions. Only HACR Corporate Members were eligible to participate and a list of participating companies is included in the report.
The two part study consisted of an online survey instrument completed by a company representative between December 2012 and January 2013. The Institute conducted focus groups and interviews with ERG members, their leaders, and executive sponsors and champions between February 2013 and July 2013. Sixty percent of HACR Corporate Member companies participated in this seminal research study.
Key findings from the study include:
· Participation by Hispanic employees in Hispanic ERGs was more than three times the national average participation rate in employee resource groups generally
· 54 percent of survey participants indicated their Hispanic ERGs had 500 or more members
· 79 percent expect their Hispanic ERG to grow even more in the next 24 months
· Despite the growth of Hispanic ERGs, only one third had seen an increase in their annual budget and nearly 10 percent had experienced a decline in funding
To read the report click here. To print or download the report click here.
HACR 2012 Corporate Inclusion Index
The Hispanic Association on Corporate Responsibility (HACR) released findings from its 2012 Corporate Inclusion Index (CII) survey and, for the fourth year in a row, more companies participated with 55 companies in total.
The HACR CII, a component of HACR's Corporate Accountability Strategy, takes a comprehensive measurement of Hispanic inclusion at Fortune 100 and HACR corporate member companies by focusing on HACR's four pillars of corporate social responsibility and market reciprocity: Employment, Procurement, Philanthropy, and Governance.
Overall, the 2010 U.S. Census reported Hispanics as the largest minority group in the U.S. with over 50 million consumers. With $1.3 trillion in buying power, U.S. Hispanic consumers comprise the 14th largest economy in the world.
As a result, HACR has seen an increase in the willingness of Corporate America to work with the Hispanic population, evidenced through increased participation since 2009 with 20 additional companies participating in the survey. This year's report also saw eight companies participating for the first time, 26 companies improving their rating from the previous year, and all seven Fortune 100 commercial banking companies participating in the survey.
This newfound participation and commitment to the Hispanic community has led to one conclusion: Hispanics are The Deciding Factor.
To read the report click here. You can also share your questions and comments about the 2012 HACR CII through a more in-depth analysis by following us on Twitter and using the #2012CII hashtag.