|
MGM MIRAGE REPORTS CONTINUING MOMENTUM FOR DIVERSITY INITIATIVE
Company outlines significant gains in purchasing and construction at Annual Diversity Report & Presentation
LAS VEGAS – May 22, 2008 - MGM MIRAGE today announced that its Diversity Initiative continues to gain momentum in key areas such as human resources, strategic sourcing, construction and corporate philanthropy.
Since 2002, MGM MIRAGE reports its diversity performance annually to demonstrate transparency and accountability in this area. This year’s diversity report focuses on employee initiatives that are key to creating and sustaining a culture that values diversity.
“The deepest value – and the deepest impact – that our Diversity Initiative may have on our business lies in the role it is playing in fostering a work culture of peak performance, teamwork and innovation,” said MGM MIRAGE Chairman and CEO Terry Lanni.
The company made significant strides in leveraging diversity to drive business results. The company reported significant increases in important metrics such as purchasing and construction spend associated with diversity vendors. Specifically, in purchasing the company experienced a more than 65% increase in spending with minority, women and disadvantaged business enterprises (MWDBEs). In construction, due to progress of its $9.2 billion CityCenter project, the company also reported a double-digit percentage increase in spending with MWDBEs.
“Diversity is a significant driver of business success and enhances the ability of our company to compete in today’s global economy,” said Lanni. “The data we present today show that, once again, we have achieved sizeable gains in the metrics we monitor to assess progress in those areas.”
In 2007, MGM MIRAGE was recognized locally and nationally for its efforts in diversity, including being awarded the “Supplier Diversity Program of the Year Award” by the Nevada Minority Business Council, named one of the “Top 50 Companies for Hispanics” by Hispanic Business Magazine, recognized as one of the “40 Best Companies for Diversity” by Black Enterprise Magazine, and being named among the “Top 50 Companies for Diversity” by DiversityInc Magazine.
More than 1,500 employees, suppliers, contractors and community and business leaders from throughout the U.S. gathered in Las Vegas to learn about the company's 2007 diversity results at the Annual Diversity Report & Presentation. Summarized below are highlights of the report:
Human Resources
The MGM MIRAGE domestic workforce continues to grow in its diversity. In 2007, the company’s minority employee representation totaled more than half of the workforce at 60.8 percent. Women comprised just over half of employees at 50.9 percent. By ethnicity, the workforce was comprised of: 29.3 percent Hispanic; 14.6 percent Asian; 12.4 percent African American; and 0.5 percent Native American. As for minority managers and above: 11.8 percent were Hispanic; 8.3 percent were Asian; 10.0 percent were African American; and 0.5 percent were Native American.
Additionally, a notable milestone in 2007 was the graduation of the company’s 5,000th employee from Diversity Champion Training, the company’s in-house leadership training program. Diversity Champions are driving a culture of high performance by initiating numerous diversity-related programs and activities at each of the company’s properties.
Purchasing
MGM MIRAGE reports success in broadening the base of MWDBEs with which it works. In 2007, the number of registered MWDBEs in the MGM MIRAGE Supplier Diversity program expanded significantly.
For purchasing in 2007, the company spent $1.7 billion in biddable goods and services. Of this amount, a total of $254 million in biddable goods and services was spent with minority enterprises. This reflects an increase of $104 million and 69.3 percent from $150 million in 2006.
Spending was distributed as follows with respect to the ethnicity of minority-owned enterprises: 30.6 percent was spent with African American enterprises; 27.8 percent was spent with Asian enterprises; 26.9 percent was spent with Hispanic-owned enterprises; and 14.8 percent was spent with Native American enterprises.
The company also reports its spend with women-owned businesses. In 2007, a total of $101 million in biddable goods and services was spent with women-owned companies. This reflects an increase of $67 million from $34 million in 2006.
Construction
MGM MIRAGE’s outreach spans the nation to ensure that MWDBEs have opportunities to contract with its myriad of development and capital improvement projects. As a result, in 2007, of the total construction expenditures which totaled $2.1 billion, $362 million was spent with MWDBEs and $73 million was spent with women-owned businesses. Comparatively, in 2006, $276 million was spent with MWDBEs and $71 million was spent with women-owned businesses.
By ethnicity of minority-owned businesses the amounts spent equaled: 55.7 percent spent with African American businesses; 24.1 percent spent with Hispanic-owned firms; 12.2 percent spent with Asian-owned companies; and 8.0 percent spent with Native American-owned firms.
Philanthropy
MGM MIRAGE takes a leadership role in corporate citizenship through its corporate philanthropy and Voice Foundation, the company's nonprofit, philanthropic entity that collects and disburses employee donations. In 2007, corporate charitable diversity-related contributions totaled $3.3 million.
Through the Voice Foundation, grants to nonprofits serving diverse communities and organizations totaled $2.5 million or 84 percent of total grants awarded. Since its inception, the Voice Foundation has dispersed more than $24 million in employee donations to charities in places where MGM MIRAGE does business.
Media Contacts:
«Back to list
|
