Pharma cos. named best for minorities

Four pharmaceutical companies, Kenilworth, NJ-based Schering-Plough Corp; The Procter and Gamble Co., Cincinnati; Eli Lilly and Co., Indianapolis; and Abbott Laboratories, Abbott Park, IL, were named to Fortune magazine's list of "50 Best Companies for Minorities." The list was published in the July 9 issue of the magazine.

To compile the ranking, Fortune, in conjunction with the nonprofit Center for Responsibility in Business, surveyed all Fortune 1,000 companies and the 200 largest privately held firms. Companies were judged on their overall diversity programs, numbers of minority workers, employees having career goals related to minorities, numbers of future minority management candidates, implementation of a formal mentoring program for minorities, level of purchasing from minority-owned firms, and charitable contributions for programs or organizations that primarily benefit minorities.

"Fostering a diverse and inclusive workplace is essential for Abbott's success," said Miles D. White, chairman and chief executive officer of Abbott Laboratories, which appears on the list for the fourth consecutive year. "Embracing diversity cultivates an innovative and inspiring environment for our employees and our business."

Turnover an issue

The survey also compared each company's overall turnover rate with that of non-minorities and assessed how well minorities are represented in management versus the total work force.

"A commitment to work force diversity is an important responsibility of every manager at Schering-Plough," said John P. Ryan, senior vice president, human resources of Schering-Plough. "This commitment encompasses not only our recruiting efforts, but also our ongoing efforts to challenge employees of both genders and all nationalities and races to achieve their full potential through career development and job opportunities." PR