Making the “Best of…” list: are they really the best?
Year after year, certain companies continue to land their names on the coveted “Best of…” lists and score high in the annual rankings by Fortune, Working Mother, Black Enterprise and Essence magazines. For most consumers and employees, these rankings and lists are considered credible indicators of a company’s strength in a particular area. But as indicated in Giving Notice, journalism insiders acknowledge the lack of quantitative rigor that goes into these “Best of…” lists. Contrary to what one may want to believe, making these lists is not necessarily indicative of an effective diversity management strategy, but rather a good public relations strategy to boost the company’s own image and land their name on these lists.
Consider the following example: “…a recent survey mailed to one of the largest financial services firms in consideration for list inclusion at a national women’s magazine. The firm provided glowing answers to the questions asked, but when pressed for backup to support its responses, the company said that the information was ‘highly confidential and could not be shared outside the firm’ or ‘confidential/proprietary and could not be used for publication.’ Therefore, every key fact (for example, where minorities rank in the levels of pay, how many minorities are actually in the top 10 percent of wage earners, how minorities are faring throughout all management levels of the company) was not permitted by the firm to be independently verified by the writers and editors of the magazine. They were supposed to rely on the company’s word. Nevertheless, the company made the magazine’s list that year” (Giving Notice, Chapter 3 “From the Top”).
Not only do these lists and rankings lack journalistic rigor behind them, but some of the companies that are heralded on the “Best of…” lists as models of diversity and best companies for minorities and specific groups, are also the same companies that have had disturbing race and gender discrimination suits (e.g., Wal-Mart ironically landed on Fortune’s “Best Companies to Work For” and Black Enterprise’s “Best Companies for Diversity” lists despite having a landmark sex discrimination lawsuit filed against the company previously).
Perhaps the message to take away is that making these lists does not necessitate a proven track record. So when considering companies for employment or reputation, it is best to avoid placing all faith in the “Best of…” lists and conduct more thorough research by asking actual employees and considering reliable consumer reports and independent sources of information.
