Early in 2021, we founded DiversIQ to be a go-to source for corporate equity, diversity, and inclusion intelligence. In that time, we’ve worked thousands of hours to build out our data platform, so it meets the needs of sophisticated asset managers, advisors, and DEI stakeholders. But more than that, what’s occupied our time is the hunt for data – and specifically, the hunt for EEO-1 disclosures.
We’re not alone in this regard. For years, the search for EEO-1 data has consumed institutional investors, investigative journalists, DEI activists, and the public at large. That’s because many companies publish EEO-1 data, but they don’t announce when it was published, or where the information exists. For example, some companies bury the report deep in a corporate governance, ESG or sustainability report, or in an obscure section of their website. In addition, in many cases, when a new EEO-1 is published, companies remove the prior one, making it hard for stakeholders to draw comparisons and measure performance over time.
When we began compiling EEO-1 data, only 51 of the S&P 500 had publicly disclosed their full report. As of today, 300 S&P 500 companies have fully disclosed their EEO-1, and another 29 have committed to do so. In total, we have full EEO-1 data from 366 companies in the DiversIQ database, which represents the most comprehensive dataset anywhere in the world.
But getting to this point required technology, seasoned analysts, an immense amount of time, and continuous engagement with our network of investor relations contacts.
By the end of 2022, we expect to have 70% of the S&P 500, and 40% of the Russell 1000 covered. As we expand our coverage further, we pose a question originally asked by Benjamin Franklin – what use is a sundial in the shade?