CINCINNATI—Fifth Third Bank is pleased to announce that for the second consecutive year, it has been recognized by Diversity Best Practices, a division of Working Mother Media, for creating an inclusive workplace. Fifth Third was among 80 organizations nationally to earn the honor.
“We are honored to be included in the 2019 Diversity Best Practices Index,” said Stephanie Smith, vice president and chief inclusion and diversity officer, Fifth Third Bank. “This recognition supports our commitment to inclusion and diversity across Fifth Third and how we work to improve lives. We look forward to doing more and while we take this as an opportunity to celebrate, we are focused on how to continually foster an inclusive environment for all.”
Diversity Best Practices uses an inclusion index to help organizations understand gaps in demographic representation and create a road map to drive internal change and solutions through proven best practices.
This year, 148 organizations participated in the index, a 17% year-over-year increase. Results reveal opportunities for all organizations to target their diversity and inclusion efforts for greater effectiveness. An index, unlike a list, does not have a set number of organizations to recognize. Instead, a threshold percentage is set, at which point any participant with that percentage or better qualifies for the index. Fifth Third was one of the companies that met or exceeded the threshold.
"The Inclusion Index continues to grow as more and more organizations are willing to be transparent about their progress and workforce demographics," says Deborah Munster, vice president, Diversity Best Practices. "I applaud their D&I efforts and will continue to set a high bar in order to drive change and accountability."
Some of the key findings from the 2019 Diversity Best Practices Inclusion Index include:
- Recruitment: 43% of all participants mandate diverse candidate interview slates, while 86% of all participants train recruiters to ask culturally competent questions of diverse applicants.
- Advancement: 61% of all participants have diversity in their executive succession planning.
- Company Culture: 75% of all participants hold managers accountable for diversity and inclusion and 35% of all participants compensate managers for diversity and inclusion results.
The Inclusion Index Data Snapshot featuring highlights from the report can be found here.
ABOUT DIVERSITY BEST PRACTICES
Diversity Best Practices, a division of Working Mother Media, is the preeminent organization for diversity thought leaders to share best practices and develop innovative solutions for culture change. Through research, benchmarking, publications and events, DBP offers members information and strategies on how to implement, grow, measure and create first-in-class diversity programs.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio and the indirect parent company of Fifth Third Bank, an Ohio-chartered bank. As of June 30, 2019, Fifth Third had $169 billion in assets and operated 1,207 full-service Banking Centers and 2,551 ATMs with Fifth Third branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. In total, Fifth Third provides its customers with access to approximately 53,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2019, had $399 billion in assets under care, of which it managed $46 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the Nasdaq®Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Deposit and Credit products are offered by Fifth Third Bank. Member FDIC.