At Vanguard, we aspire to create an inclusive and equitable work environment in which our crew can leverage all their skills and thrive. A thriving crew drives our mission to provide all investors with the best chance of investment success.
Our commitment to diversity, equity, and inclusion (DEI) is longstanding. In recent years, we have strengthened our efforts through greater investment in our DEI organization, more rigor in our aspirational outcomes, and a focus on enterprise accountability for DEI outcomes.
Not only are we focused on improving DEI in our workplace, but we are also committed to integrating it into the ways we engage the world around us. We promote equity in childcare and early education, activate it in our supply chain, and support social justice through our corporate giving programs. We also advocate for greater diversity in boardrooms and the broader business community worldwide.
We are committed to an inclusive and equitable workplace that promotes and values diversity. We need diverse teams to seize opportunities and solve problems—today’s and tomorrow’s. Our differences strengthen our teams to make better decisions, unleash innovation and creativity, and produce better results for our clients. That's why we are striving to build a more diverse, inclusive, and equitable workplace at every level of the organization.
Vanguard has set goals to increase the representation of women and people of color overall—and for every level of leadership to reflect the growing gender and racial diversity of our crew. We also commit to increasing overall measures of inclusion for our crew, and we will continue to focus our efforts on the attraction, advancement, and retention of underrepresented talent.
Although we are not yet where we want to be, considerable progress has been made on our DEI journey, and we hold ourselves accountable for more. We are particularly encouraged by the strides we’ve made in the advancement of women. As of year-end 2021, they held 44% of our leadership positions. Our representation of people of color continues to grow, but we need to do more to improve it and the representation of women globally.
Note: U.S. minority crew include Asian, Black/African American, Hispanic/Latinx, Native Hawaiian/Pacific Islander, American Indian/Alaskan Native, or crew that identify with two or more races.
Having an inclusive culture means all people know that they are valued, included, and feel like they belong. In addition to gender and race/ethnicity information, we offer our crew the option to share their sexual orientation and gender identity, so that we can better understand our population across a variety of diversity dimensions. In addition, we are committed to inclusion through accessibility. Our Accessibility Office supports opportunities to create a more inclusive environment for our crew with disabilities and seeks to ensure that Vanguard information and functionality are accessible to clients and crew regardless of visual, auditory, motor, color-perception, or cognitive abilities.
Our DEI efforts are priorities for Vanguard’s board of directors and senior leadership team. Our CEO and managing directors serve as our DEI Executive Council. This team drives the vision, goals, and accountability throughout Vanguard and tracks our progress. In addition, our chief diversity officer leads a team that executes the firm’s global strategic plan and evolves and implements best practices.
Being a truly inclusive organization requires everyone to be accountable. Leaders and crew alike are expected to cultivate difference—it’s one of the competencies that make up our five-part performance standard. In addition, progress toward our aspirations influences compensation.
Vanguard’s Crew Resource Groups (CRGs) help support our efforts to attract, onboard, engage, and retain a diverse base of talent globally. The CRGs work alongside our HR organization to provide leadership development and acumen-building, serve as ambassadors to prospective talent, host cultural and heritage learning opportunities, facilitate dialogs on current events, and provide community service opportunities to members. Nearly half our crew belong to one of the following CRGs:
Women’s Initiative for Leadership Success
Black Organization for Leadership & Dialogue
Leadership and Engagement for Asian Professionals
Hispanic/Latinx Organization for Leadership Advancement
Out Professional Engagement Network
We strive to ensure that diverse suppliers have an equal opportunity to earn our business and believe that diverse supply chains strengthen the global business community. Including diverse businesses in our sourcing practices also allows us to cast a wider net for quality resources and promotes economic expansion in underrepresented communities. Our mission is to identify and engage capable, diverse suppliers that can provide cost-competitive, high-quality goods and services.
Vanguard believes that diverse groups make better decisions, and that better decisions can lead to better results for our shareholders over the long term. Through our investment stewardship program, we advocate for boardroom diversity and oversight of material risks at the companies in which our funds invest.
Vanguard has long advocated for diversity of experience, personal background, and expertise in the boardroom. We also look to understand companies’ approaches to gender, race, ethnicity, and age diversity, and we advocate for progress when a company’s approach lags market norms or expectations.
We encourage boards to publish their perspectives on diversity and to disclose board diversity measures. In addition, we encourage boards to disclose their oversight of diversity-related strategies and risks and to disclose diversity measures beyond the boardroom.
We are passionate about our efforts to drive meaningful and systemic social change in our communities. Working for the greater good is ingrained in our culture, and our crew demonstrate their commitment by donating their time, talent, and treasure through a wide variety of activities. Vanguard aspires to reduce social disparities through partnerships with organizations that support healthy and resilient communities and families around the world. Our community stewardship work comprises our signature initiative, Vanguard Strong Start for KidsTM, along with other corporate- and crew-led philanthropic and volunteer programs.
The Vanguard Foundation is committed to enduring philanthropic support to social justice and equity initiatives.
For details about Vanguard’s approach to DEI and our progress, download our Diversity, Equity, and Inclusion Report.
“Vanguard is continuing its journey to create a global work environment that celebrates diversity in all its forms and integrates inclusion and equity into the workplace experience.”
Crystal Hardie Langston
Vanguard Principal, Global Head of Diversity, Equity, and Inclusion & Community Stewardship