PSEG Releases Diversity Statistics For Employees, Managers
NEWARK, NJ — What is one of the 10 largest electric companies in the nation doing to make itself more “diverse?” That’s one of the main topics in a recent report from the New Jersey-based Public Service Enterprise Group (PSEG).
Earlier this week, PSEG released its self-conducted “2021 Diversity, Equity and Inclusion Report.” Here are the most recent statistics, according to the company.
According to PSEG:
Representation of people of color has increased 0.9% since 2019.
Representation of people of color is 4.7% above the utility benchmark.
Retention of people of color has improved by 3.9% since 2019.
Retention of women has improved 8.3% since 2019.
PSEG acknowledged that representation of women overall has “remained flat” and is 6.9 percent below the utility benchmark. But they’re working on it, spokespeople said.
“The percentage of women in union-represented roles has increased since the beginning of 2021, and will continue to be a focus for PSEG moving forward,” the company stated.
One of the recent moves PSEG has made involves paid parental leave amid the coronavirus pandemic, company spokespeople said. Read More: Work Or Kids? NJ Parents Find Tough Choices Amid COVID Pandemic
According to the report:
“PSEG recognizes that equity is critical to helping all employees to thrive, ensuring that the benefits and opportunities of working at PSEG are accessible equally to all employees. This is especially important as so many struggle with the challenges of work-life balance exacerbated by the pandemic crisis. As a result of a comprehensive equity review of policies and programs, PSEG expanded its paid parental leave policy and updated its annual incentive program to allow greater flexibility for employees who take extended leave, including maternity leave.”
The PSEG report also gives an update on the company’s 2020 pledge with New Jersey Gov. Phil Murphy and the New Jersey CEO Council to spend an additional $250 million on procurement with “state-based diverse companies” by 2025.
According to PSEG:
“During 2020, PSEG set a new company record for the sixth consecutive year of supplier diversity spend, buying more than $644 million worth of goods and services from diverse suppliers, a 15% increase over 2019. More than 28% of our purchases were with diverse vendors – 2% away from our 2023 goal. In 2020, PSEG added 67 new certified diverse-owned businesses to our Tier I and II active vendor list.”
Other highlights from the report include:
Governance – “The company is holding itself accountable by making DEI part of its annual companywide incentive program and reporting performance to the PSEG Board of Directors.”
Leadership training – “The company has several leadership training programs to elevate traditionally underrepresented groups. In 2021, PSEG added additional leadership development programs to support and advance people of color. In addition, the number of participants in the company’s existing leadership development program for women has doubled in the last year, with more than a third of participants moving into new positions after completing the program.”
Confronting bias – “More than 200 of PSEG’s senior leaders are participating in an ongoing CEO-led inclusive leadership development program. PSEG has trained hiring managers and recruiters on how to promote equity and eliminate bias in the hiring process.”
Representation – “Following an enterprise-wide disability inclusion campaign in 2020, the number of employees who self-identified as living with a disability increased by more than 300%.”
Inclusion – “The company recently published a formal LGBTQ+ Inclusion Pledge to reinforce its commitment to this community.”
According to PSEG, it is New Jersey’s largest provider of electric and natural gas service, reaching 2.3 million electric customers and 1.9 million gas customers. Its service territory includes the state’s six largest cities and roughly 300 suburban and rural communities, including 6.2 million people – about 70 percent of the state’s population. It employs about 13,000 workers, and has a headquarters in Newark.
The company reported $50.1 billion in total assets for 2020, with total annual operating revenues of $9.6 billion.
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This article originally appeared on the Newark Patch
