4th year in a row Ethisphere Institute honors MassMutual
Springfield, MA – March 13, 2017 – Massachusetts Mutual Life Insurance Company (MassMutual) announced today it has been recognized by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as a 2017 World’s Most Ethical Company®. This marks the fourth consecutive year that MassMutual has been recognized for the prestigious and important distinction and the company remains the only mutual company named Most Ethical in the life insurance industry category.
“We are proud to once again be recognized as a World’s Most Ethical Company, as it is testament to the highest standards of ethics and integrity that our employees and advisors demonstrate every day,” said Roger Crandall, MassMutual Chairman, President and CEO. “More than 5 million people place their trust in MassMutual to help them secure their future and protect the ones they love. We honor that commitment with an enduring pledge to simply do the right thing.”
The World’s Most Ethical Company distinction underscores a company’s commitment to leading ethical business standards and practices. In selecting its Most Ethical Company winners, Ethisphere seeks to identify those firms that recognize their role in society to influence and drive positive change, consider the impact of their actions on their employees, investors, customers and other key stakeholders and use their values and culture as an underpinning to the decisions they make every day.
“Over the last eleven years we have seen the shift in societal expectations, constant redefinition of laws and regulations and the geo-political climate. We have also seen how companies honored as the World’s Most Ethical respond to these challenges. They invest in their local communities around the world, embrace strategies of diversity and inclusion, and focus on long term-ism as a sustainable business advantage,” explained Ethisphere’s Chief Executive Officer, Timothy Erblich. "Congratulations to everyone at MassMutual for being recognized as a World's Most Ethical Company."
Methodology & Scoring
The World's Most Ethical Company assessment is based upon the Ethisphere Institute’s Ethics Quotient® (EQ) framework which offers a quantitative way to assess a company’s performance in an objective, consistent and standardized way. The information collected provides a comprehensive sampling of definitive criteria of core competencies, rather than all aspects of corporate governance, risk, sustainability, compliance and ethics.
Scores are generated in five key categories: ethics and compliance program (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%) and leadership, innovation and reputation (10%) and provided to all companies who participate in the process.