For the first time ever, the Minneapolis Fed participated in the 2020 Hispanic Association of Corporate Responsibility’s Corporate Inclusion Index. The HACR CII is an accountability survey that measures Hispanic representation in organizations across the country.
In an effort led by the Bank’s Latinx employee resource network, Mi Gente, the Minneapolis Fed is the first Federal Reserve Bank to participate in the HACR CII. It is also the first government-affiliated organization to do so.
HACR’s index measures Latinx representation across four categories: employment, procurement, philanthropy, and governance.
The Minneapolis Fed earned high marks for diversity in vendor and supplier practices (procurement). The CII results also point to a few areas for improvement. Senior leaders have committed to address these issues through targeted recruitment efforts to increase Latinx representation across Bank staff and management, and on the board of directors.
“Minneapolis Fed leaders were willing to step into unknown territory to better understand current practices,” said Mylene Lundquist, chair of Mi Gente. “The Human Resources and Inclusion department has already created an action plan based on our results.”
The CII is designed to help management better understand diversity initiatives. But participating in the survey is also a way for Bank leaders to emphasize the importance of inclusion.
“We are focused on promoting an economy that works for all of us,” said Michael Garrett, senior vice president of Human Resources and Inclusion. “The first way to do that is to make sure the Minneapolis Fed is reflective of and fully engaged with the communities we serve.”
Read more about the Minneapolis Fed's commitment to diversity and inclusion.