Abbott Laboratories Named One of the Nation's Best Companies for Minorities By Fortune Magazine
ABBOTT PARK, Ill., July 6 /PRNewswire/ -- For the third consecutive year, Abbott Laboratories was named to FORTUNE
magazine's annual ranking of the ``50 Best Companies for Minorities'' in the United States.
``Our company needs the benefit of the widest variety of viewpoints and experiences,'' said Miles D. White, chairman and chief executive officer, Abbott Laboratories. ``Fostering a diverse workplace and inclusive environment allows us to embrace different ways of thinking and doing business that are vital to our future success.''
In this year's ranking, FORTUNE recognized Abbott's continuing efforts in diversity and inclusion, highlighting the company's mentorship program and national award-winning internship program -- spotlighting the fact that more than 40 percent of the company's interns are minorities. In addition to these specific programs, Abbott's long-term diversity strategy focuses on every aspect of the company from hiring and advancement to management style, culture and environment.
To compile the ranking, FORTUNE and the Council on Economic Priorities, surveyed the FORTUNE 1000 and as well as the
200 largest privately held U.S. companies, ranking companies by 15 different categories. Companies were judged on overall
diversity programs; employee bonuses tied to fulfilling diversity goals; number of minority graduates hired by companies; minority representation on the company's board of directors, among corporate officers and in middle management; recent hiring practices; percentage of dollars spent with outside minority-owned suppliers; and percentage of charitable contributions given to programs primarily benefiting minorities. FORTUNE's list of ``Best Companies for Minorities'' will appear in the magazine's July 10 issue.
This FORTUNE achievement is one of several honors Abbott has received for the company's ongoing diversity initiatives. The company was recently featured as one of Diversity and Bar Magazine's ``Employers of Choice'' for its diversity initiatives and representation. Chicago Lawyer's 1999 In-House Counsel Diversity Survey of large Chicago-area corporations found that Abbott had the highest percentage of minority attorneys, at 24.1 percent, with 28 minority attorneys. Abbott was also included on Next Step Magazine's ``Diversity 100'' list for a second year in a row.
Abbott Laboratories is a global, diversified health care company devoted to the discovery, development, manufacture and marketing of pharmaceutical, diagnostic, nutritional and hospital products. The company employs 57,000 people and markets its products in more than 130 countries.
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