McDonald’s said it is tying 15 per cent of executives’ bonuses to meeting targets including diversity and inclusion and began disclosing data on the racial makeup of its workforce, major steps by one of the largest US companies to better reflect the population.
Among the information McDonald’s is releasing for the first time is a full breakdown of US employees by race, ethnicity and gender, a victory for transparency advocates and investors increasingly pressing companies to do more to address the country’s deeply rooted social inequality.
In addition to publicly releasing its worker demographics - contained on a form known as EEO-1 that corporations are required to give to the US government - the fast-food giant laid out a plan to increase the number of people of colour in its US management ranks and to achieve gender parity worldwide, according to a filing this week.
“We cannot be complacent in our pursuit to better ourselves and our communities. Few brands in the world have our size and reach,” McDonald’s chief executive Chris Kempczinski wrote in a memo to employees.
“Our customers, franchisees, employees, suppliers, and shareholders expect us to make a difference.”
As part of its new metrics, McDonald’s is targeting 35 per cent of US senior management to be from underrepresented groups by 2025, up from 29 per cent currently. It also aims for 45 per cent women in senior roles worldwide by the same year and 50 per cent by 2030, compared with 37 per cent now.
Like other big American companies, McDonald’s has a complicated history when it comes to diversity. It has won praise for championing black business ownership, but some black franchisees recently filed suit, saying they were steered toward crime-ridden neighbourhoods and set up to fail. McDonald’s disputes that characterisation and says it has supported the franchisees.
The Chicago-based company has also contended for years with accusations that it overlooks workplace harassment and abuse, culminating in the very public dismissal of its former chief executive in late 2019.
Women’s share among McDonald’s leadership and professional positions were in line with or slightly better than the industry, according to the company’s data.
The fast-food retailer had 205,000 workers worldwide at the end of 2019, including corporate employees and workers in the restaurants it owns directly.
If you go
The flights
Emirates (www.emirates.com) and Etihad (www.etihad.com) both fly direct to Bengaluru, with return fares from Dh 1240. From Bengaluru airport, Coorg is a five-hour drive by car.
The hotels
The Tamara (www.thetamara.com) is located inside a working coffee plantation and offers individual villas with sprawling views of the hills (tariff from Dh1,300, including taxes and breakfast).
When to go
Coorg is an all-year destination, with the peak season for travel extending from the cooler months between October and March.
Best Academy: Ajax and Benfica
Best Agent: Jorge Mendes
Best Club : Liverpool
Best Coach: Jurgen Klopp (Liverpool)
Best Goalkeeper: Alisson Becker
Best Men’s Player: Cristiano Ronaldo
Best Partnership of the Year Award by SportBusiness: Manchester City and SAP
Best Referee: Stephanie Frappart
Best Revelation Player: Joao Felix (Atletico Madrid and Portugal)
Best Sporting Director: Andrea Berta (Atletico Madrid)
Best Women's Player: Lucy Bronze
Best Young Arab Player: Achraf Hakimi
Kooora – Best Arab Club: Al Hilal (Saudi Arabia)
Kooora – Best Arab Player: Abderrazak Hamdallah (Al-Nassr FC, Saudi Arabia)
Player Career Award: Miralem Pjanic and Ryan Giggs
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
'Ashkal'
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Read more from Aya Iskandarani
COMPANY PROFILE
Name: Akeed
Based: Muscat
Launch year: 2018
Number of employees: 40
Sector: Online food delivery
Funding: Raised $3.2m since inception
Killing of Qassem Suleimani
More from Neighbourhood Watch:
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The Farewell
Director: Lulu Wang
Stars: Awkwafina, Zhao Shuzhen, Diana Lin, Tzi Ma
Four stars
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Six pitfalls to avoid when trading company stocks
Following fashion
Investing is cyclical, buying last year's winners often means holding this year's losers.
Losing your balance
You end up with too much exposure to an individual company or sector that has taken your fancy.
Being over active
If you chop and change your portfolio too often, dealing charges will eat up your gains.
Running your losers
Investors hate admitting mistakes and hold onto bad stocks hoping they will come good.
Selling in a panic
If you sell up when the market drops, you have locked yourself out of the recovery.
Timing the market
Even the best investor in the world cannot consistently call market movements.
CREW
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BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
UAE currency: the story behind the money in your pockets
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
