Since our founding in 1851, MassMutual has been committed to helping people secure their futures and protect the ones they love. As we have grown over the past 166 years, so have the demographic shifts that are critical to our business. One out of two infants born today is a member of a racial or ethnic minority. In less than 30 years, our country is expected to have a non-white majority. As the face of America changes, it only makes sense that the face of MassMutual reflects that change as well – which is why diversity and inclusion is a key part of our business strategy today.
At MassMutual, we see beyond the traditional definition of diversity. To us, diversity includes the broadest possible range of cultures, backgrounds, experiences and perspectives. Our goal is to welcome and include diversity and inclusion in all its forms – we believe it’s the right thing to do. As a mutual company operating for the benefit of our policyowners and customers, we must be prepared to meet the needs of all the people who seek the peace of mind and financial security we can help provide.
It is clear that we are making progress. Over the last five years, we have tripled our whole life sales to multicultural consumers. Forty-five percent of the members of our Board of Directors are either women or people of color. We have earned notable industry recognition, such as being a NAFE Top Company for Executive Women.
Our employees also recognize our efforts are making a difference, and many of them are active participants in helping move the company forward. We have eight Business Resource Groups, which are company-sponsored, employee-driven affinity groups that help the company reach our strategic diversity goals in the workplace, community and marketplace. In 2018, more than 27 percent of employees were members of at least one of these groups and fully engaged in our efforts.
While we are proud of our progress and accomplishments, we must continue to move forward in order to best meet the needs of the next generation of policyowners and customers. We look forward to continuing on this journey and to fostering a culture of diversity and inclusion at our company.
Chairman, President and CEO
Head of Diversity & Inclusion