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NEWYORK, NY, May 16, 2017 — OppenheimerFunds was today named one of the Best Companies for Multicultural Women by Working Mother magazine. The honor recognizes U.S. companies that create and use best practices in hiring, retaining and promoting women of color.

The Working Mother Research Institute has conducted the study since 2003, tracking corporations’ progress in promoting women of color and evaluating their representation at every level of management and decision-making.

“We are proud to have been recognized as one of the best employers for multicultural women,” said Andy Doyle, Chief Human Resources Officer at OppenheimerFunds. “Our firm understands that fostering a culture that values diversity and different perspectives can lead to innovations that directly benefit our clients.”

Employees are encouraged to get involved in its Business Resource Groups (BRGs), a network of diverse communities that have a key role in the firm’s inclusion efforts. Through strategic initiatives aligned to education, philanthropy, leadership, culture, professional development, and networking, the BRGs enable members and allies to connect to the experiences of diverse employees in their communities and at the firm.

OppenheimerFunds’ Business Resource Groups:

  • Black Professionals Network
  • Disabilities Network
  • Military Network
  • Multicultural Network
  • PROUD Network (representing the LGBTQ community)
  • Women’s Network

Additionally, the Latino Professionals Network and Asian Professionals Network have plans to launch BRGs later this year.

“Our flexible and inclusive work environment empowers employees individually to balance their work and life priorities in order to enable them to be their most productive and engaged,” said Cynthia Lo Bessette, General Counsel at OppenheimerFunds.

OppenheimerFunds has been recognized by multiple organizations as one of the best places to work. Great Place to Work® and Fortune named the firm one of the 40 Best Companies in Financial Services, 100 Best Workplaces for Millennials, 50 Best Workplaces for Parents and 30 Best Workplaces to Retire From. The firm was also recognized by Pensions & Investments as a Best Place to Work in Money Management, received a score of 100% on the Human Rights Campaign (HRC) Corporate Equality Index 2017 Best Place to Work for LGBT Equality, and was named by Fatherly as one of the 50 Best Places to Work for New Dads.

“Since its inception, the Best Companies for Multicultural Women has grown from just three qualifying companies to 25 winners who have created forward-thinking policies and initiatives that have expanded the talent and expertise of multicultural women. We applaud our winners who create opportunity for multicultural women to be hired, trained and advanced in the workforce,” said Subha V. Barry, senior vice president & managing director, Working Mother Media.

Winners were selected from companies, with at least 500 U.S. employees, who answered a questionnaire covering the following topics: representation; hiring; attrition; promotion rates; recruitment, retention and advancement programs; as well as company culture. The Working Mother Research Institute created a scoring algorithm based on the previous year’s benchmark results to determine the winners.