Third place, money managers with more than 1,000 employees
AUM: $1.8 trillion
Capital Group Cos.' employees are enthusiastic about the money manager's commitment to diversity and inclusion over the past several years, helping the firm become a first-time Best Places to Work in Money Management recipient.
John Renfro, senior vice president and chief human resources officer, said in a telephone interview that diversity and inclusion is a key priority and the "cornerstone of everything we do."
"Over 50% of our associates are women and 42% are racially and ethnically diverse in the U.S.," Mr. Renfro said, also noting that the company is making efforts to make company leadership more diverse as well.
He also mentioned the formation of Capital Communities, which helps employees engage with others with similar interests and backgrounds. There are 34 different employee-formed communities that include almost 4,000 employees, Mr. Renfro said.
One employee commented, "Capital Group is amazing. Our positive culture and powerful values live in each associate. It is truly an optimal experience, and very unique opportunity to work in a company of this quality. I feel the caring every day, enhanced by our positive leadership and culture. We deeply care about our investors and partners."
Timothy D. Armour, Capital Group's chairman and CEO, said in an email that "diversity and inclusion result in a better, more enjoyable work environment, and it also makes us better investors. Being able to examine a potential investment from multiple viewpoints gives us a distinct advantage and this approach has been part of our process for decades. I have worked at Capital Group for over 35 years and I can say with confidence that our shared sense of purpose, cultural values and focus on associates makes Capital Group a great place to work."
Los Angeles-based Capital Group also provides a contribution of 15% of each employee's salary to their 401(k) plan account annually, and employees are eligible for two annual bonuses: one that is merit-based and one that is based on profit sharing. More soft benefits include Capital Speaks, a series modeled on Ted Talks and The Moth that gives employees the opportunity to share ideas and stories in front of their office colleagues.
Employees who are chosen to make presentations even receive professional coaching on presentation skills. The company also features Capital Cares, which features 2:1 matching of donations up to $5,000 to causes of employees' choice.