& TRAININGDIVERSE TALENT
DEVELOPMENT & PIPELINEDIVERSITY
Travelers values the unique abilities and talents each individual brings to our organization and recognizes that we benefit in numerous ways from our differences. We benefit from our differences in culture, ethnicity, national origin, race, color, religion, gender, gender identity, age, veteran status, disability, genetic information and sexual orientation. In that regard, as regularly reinforced by our Chairman and CEO and other senior leaders, diversity and inclusion is a business imperative for us.
As part of our commitment to diversity, we aim to:
- Foster an inclusive environment where all employees can reach their full potential;
- Provide learning and development opportunities to advance diverse leaders;
- Employ a diverse workforce to maintain our talent advantage; and
- Explore diverse markets today to tap into tomorrow’s opportunities.
Our diversity and inclusion efforts are led by our Chief Diversity & Inclusion Officer. We also have a Diversity Council that is chaired by our CEO and composed of our 41 most senior executives. The council directs diversity initiatives such as:
- Raising awareness about the value of a diverse workforce;
- Partnering with business units to drive diversity strategies and goals, develop business unit-specific tactics, report outcomes and celebrate successes;
- Promoting key internal and external diversity programs and determining accountability for recruiting, training, developing and retaining diverse talent;
- Raising awareness about the importance of community outreach and the inclusion of diverse suppliers in our procurement process; and
- Sharing information and analytics about the clear relationship between diversity and business performance.
In 2018, we organized three additional working councils to focus more extensively on implementing diversity and inclusion priorities: the Business Heads Working Council, the Diversity Networks Executive Sponsor Working Council and the Field Leadership Working Council.
- The Business Heads Working Council ensures we identify emerging trends impacting the diversity and inclusion agenda and partners with our Chief Diversity and Inclusion Officer and Chief Human Resources Officer to identify, agree upon and implement solutions to mitigate adverse impact;
- The Diversity Networks Executive Sponsor Working Council provides strategic direction and coaching to the leaders of our employee-led Diversity Networks; and
- The Field Leadership Working Council ensures our diversity and inclusion strategy is successfully executed in our field office locations, where approximately 70% of our employees are based.
In addition to the numerous programs and initiatives we describe in further detail on this page, we have policies that encourage an inclusive culture and protect all employees from workplace harassment and discrimination. We also use metrics and analytics to measure, evaluate and act upon programs that impact the success of our people, our most important asset. We collect data — including data aligned with EEO-1 gender and race categories — to evaluate the progress of our diversity and inclusion initiatives. This data includes: employee census data regarding women and people of color; promotions; voluntary terminations; and employee turnover. We maintain a robust process to review, analyze and share that data with our senior leaders on a quarterly basis. Our data demonstrates that we have made significant progress over the past decade. In each of the last 10 years, we have increased the percentage of people of color in our workforce. As of December 31, 2018, women and people of color represent 55% and 24% of our U.S. workforce, respectively. We have also increased the percentage of women and people of color in management positions in each of the last 10 years.
Our Board of Directors encourages diversity and inclusion within Travelers — including within the Board itself — and oversees our diversity and inclusion efforts. The Nominating and Governance Committee of the Board meets regularly with senior management, including our Chief Diversity & Inclusion Officer, to review and discuss our strategies to encourage diversity and inclusion within our company. In addition, the Board receives regular updates from senior management regarding the data we collect and oversees our progress.
We provide training, development and cultural events to encourage an inclusive culture among all of our employees and leadership.
Starting with our Chairman and CEO, we expect our leaders to actively demonstrate their commitment to diversity and inclusion through their actions. Inclusive Leadership goals are included in all managers’ annual performance objectives. This Inclusive Leadership performance objective drives leader accountability, recognition and reward. On an annual basis, managers are assessed and held accountable for meeting these objectives to reinforce the business relevance of diversity and inclusion and foster a work environment where all employees are included and appreciated. This further helps us attract, retain, engage and develop employees from all cultures and backgrounds. We advance these objectives through training, including Inclusive Leadership workshops.
Our commitment to diversity and inclusion isn’t limited to our senior leaders. We provide training, development and cultural events to encourage an inclusive culture among all of our employees. For instance, all employees — at all levels and in all functions — participate in our Appreciating Differences diversity training. This dynamic, interactive diversity education program is designed to teach our employees how to leverage differences for shared success. We educate our employees on unconscious bias as part of our Appreciating Differences diversity training, as well as through our Inclusive Leadership workshops and other company-wide events. By helping our employees begin to recognize, acknowledge and minimize potential blind spots with respect to unconscious biases, we spark more open and honest conversations, increase employee engagement and strengthen our business.
We also host an ongoing series of events for all employees called Diversity Speaks, which feature external guest speakers who share personal stories and provide different experiences and viewpoints. These events are designed to encourage a culture that embraces the power of diverse perspectives to benefit our employees, customers and agents and the communities in which we work and live.
Workplace harassment and discrimination have never been tolerated in our inclusive environment. To make clear that these behaviors have no place at Travelers, we recently enhanced our harassment awareness training. This training not only covers legal definitions and our company policy, but also takes a broader approach that explores ways to ensure a respectful work environment and sustain an “if you see something, say something” culture. To learn more about our overall approach to business conduct, see the Ethics & Values section of this site.
DEVELOPMENT & PIPELINE
We provide learning and development opportunities, including career planning and mentoring assistance, to help employees with career development and preparation for potential advancement. We regularly monitor diverse representation in these programs. We also have established deliberate retention, development and advancement actions tailored to deepen diverse talent pools and broaden advancement opportunities. These targeted activities include matching upcoming leaders with mentors within the organization and offering workshops to advance their careers within Travelers. To learn more about our overall approach to talent development, see the Human Capital Management section of this site.
Travelers is focused on attracting and retaining the best people from the broadest pool of talent to position the company for future success. We use talent acquisition strategies, including sourcing strategies and diverse slate requirements, to help us create a pipeline of diverse candidates.
We have numerous initiatives and partner with many college diversity groups and other organizations to cultivate our pipeline of talent.
- To help women advance in all phases of their insurance careers and in all parts of the insurance industry, Travelers recently launched a new initiative called SHE TravelsSM. This program expands on existing efforts to make Travelers the leading advocate for women in insurance.
- Our signature education program, Travelers EDGE®, helps low-income and minority students attain academic and career success, which helps broaden the diverse pool of talent seeking careers at Travelers or in the insurance industry.
- We regularly participate in diversity and inclusion-focused industry forums and career fairs such as the Howard University F.I.R.M. Symposium, the Grace Hopper Celebration and the Out & Equal Workplace Summit.
- The military community is important to Travelers, and we’re proud of our partnerships with organizations that assist veterans in transitioning to civilian life.
- We have a unique partnership with several organizations that provide opportunities for people with disabilities, including Viability, Lifeworks and Disability:IN.
We have received various awards and recognition for our diversity efforts, including:
- Best Place to Work for LGBTQ Equality, Human Rights Campaign Foundation, 2016–2019 and received a 100% score on the Human Rights Campaign Corporate Equality Index, Human Rights Campaign Foundation, 2016–2019;
- Military Friendly® Company, VIQTORY, 2018–2019;
- Military Friendly® Employer, VIQTORY, 2007–2019;
- Best for Vets, Military Times, 2014–2018; and
- Best Place to Work for Disability Inclusion, Disability:IN and American Association of People with Disabilities, 2018 and scored 100% on the Disability Equity Index®, 2018.
See our Awards & Recognition page for a full listing.
In 2008, we created Diversity Networks — voluntary groups led by employees dedicated to fostering a diverse and inclusive work environment. Open to all employees, the networks help foster the retention, development and success of our employees through networking, mentorship and community volunteer opportunities. In addition, these groups are a resource for our business leaders, sharing insights that help give the organization a competitive advantage. More than 11,000 of our employees — more than a third of our employee population — are members of at least one Diversity Network. As the results of our recent employee engagement survey show, employees who are members of at least one Diversity Network are more engaged at work than those who are not members.
Each Diversity Network has a sponsor from our executive leadership team, who is responsible for the alignment of that DN’s vision, mission and objectives with our business goals and strategies. Executive sponsors serve two- to three-year terms as change champions and active advocates for the DN, making connections to people, resources and support across Travelers.
On an annual basis, employee leaders of our Diversity Networks come together at the annual Diversity Network Summit to discuss diversity and inclusion strategies at Travelers. During this two-day summit, these leaders identify how to better leverage their expertise and learn from each other, as well as provide guidance to support our mission to foster a diverse and inclusive work environment. In 2018, more than 170 leaders participated in the Diversity Network Summit.
By doing business with diverse suppliers, Travelers promotes the development of these enterprises, supports the growth of the communities in which we do business and aligns contractor diversity to our workforce and customer base. For these reasons, we remain committed to providing opportunities for qualified businesses owned by people of diverse backgrounds to participate in our bidding and procurement processes.
Our Procurement team tracks both Tier 1 Travelers spend with certified diverse suppliers and Tier 2 spend with diverse subcontractors doing business with our prime suppliers. These diverse suppliers are businesses owned by individuals from historically disadvantaged populations, such as women, racial and ethnic minorities, LGBTQ+, people with disabilities and veterans. We also maintain a database of diverse prospective bidders to feed our request for proposal (RFP) processes. In 2018, Travelers spent over $100 million with our Tier 1 and Tier 2 diverse suppliers.
To learn more about the structure and goals of this program, visit the Supplier Diversity page on our corporate website.
Our community programs, such as Travelers Small Business Risk Education (SBRE) and our partnership with the Minority Business Development Institute (MBDI), are also designed to encourage the development of diverse businesses.