Dive Brief:

• The 2021 Fortune 500 list will include self-reported diversity and inclusion data by which companies can be sorted and ranked, the publication announced Oct. 26.
• The move comes as part of a broader initiative in which Fortune said it is aiming to "make corporate diversity disclosure the new standard of doing business." The publication, along with financial software and risk solution company Refinitiv, said it will help initiative participants set goals, share strategies and work to deliver measurable returns.
• "The corporate world desperately needs public disclosure of such measurements, which will help companies set benchmarks, encourage high-performing companies to reach higher, and prompt companies lagging in these areas to step up," according to the announcement.

Dive Insight:

Fortune’s announcement follows an increase in employers self-reporting on D&I progress. PwC and Glassdoor, for example, released workforce D&I reports for the first time this year. And others, like the Washington Post, have promised to do so in the near future.

Generally, such reports conclude that more progress is desired, as Fortune noted. Some have included concrete promises. Target said in September it will aim to increase the representation of Black employees in its workforce by 20% over three years; PepsiCo said it plans to increase Black representation in U.S. managerial roles by 30% and Hispanic representation by 10% by 2025. [for more of this analysis, please visit HR Dive]

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