Goldman, Metlife to Release NYC Workforce Diversity Data

NYC Workplace Diversity Image

At the request of the city’s public pension funds, Goldman Sachs and Metlife have agreed to disclose diversity data on the racial and gender breakdowns of their staffs, according to The New York Times.

John C. Liu, a trustee on the pension fund, told the news outlet that the disclosures could lead to changes that would benefit not only shareholders, but future and current employees at both companies.

Studies have shown the benefits of a diverse work force on company performance and long-term shareowner value, and many companies say they are making serious efforts to recruit, retain and promote women and minorities, Liu noted. “But without quantitative disclosure, shareholders have no way to evaluate the effectiveness of these efforts.”

While New York City has the highest concentration of high-paying finance and accounting jobs in the country, studies have shown the industry has been slower than others to move minorities and women into management roles.

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