New Corporate Diversity survey shows APA employees are loyal to their companies while their corporate board representation remains low
APAs in corporate America value rich work-life and companies that embrace their individual strengths
New York, June 9, 2014 – Asia Society, a leading global and pan-Asian organization working to strengthen relationships among the United States and Asia, issued today its fifth annual Asian Pacific Americans (APA) Corporate Survey at its Diversity Leadership Forum in New York. Asian Americans comprise close to 6% of the U.S. population, and are the fastest growing minority. The study surveyed employees from Fortune 500 companies to measure the sentiments of Asian Pacific American employees, and highlights the distinctive qualities and talent APAs bring to American corporations and how they perceive working in their respective company.
“Asian Pacific Americans are the fastest growing segment of the U.S. population and yet are perhaps the least well understood. Five years ago the Asia Society set out to fill that gap in understanding experiences of APAs in the corporate world,” says Dr. Michael G. Kulma, Executive Director, Global Leadership Initiatives at Asia Society. “Today, the Asian Pacific American Corporate Survey serves as the authoritative resource in this area, providing a unique look at vital data that examines barriers to and best practices for the career advancement of APAs.”
The 5th generation Corporate Survey findings reveal that 95.4% of APA employees care about the success of their companies, with 60% committed to staying with their employers for at least 5 years. Additionally, there is a noticeable jump with an 8.8% increase from 2013 when it comes to feeling a sense of belonging as an APA employee.
In terms of leadership movement and recognition, APAs continue to move upwards. However, representation at the board level remains a major challenge with only 40% of those surveyed believing there is adequate APA representation on company’s board of directors. Especially when the future of business is vivid with Asia in the land of opportunity, 50% of all survey participants are either not included or unaware of their company’s strategy for penetrating the APA market both domestically and internationally. Furthermore, the survey reveals that the more educated an APA employee is, the less satisfied. APAs with advanced degrees report lower favorability ratings for diversity, professional growth and development, and opportunities.
This survey makes the case for organizations to authentically connect with APAs, invite them into the business conversations, and demonstrate the possibilities for progress on a local and global scale. During the Diversity Leadership Forum, top employers that demonstrate a commitment to APA employees and others are awarded, and their insights and learning of leveraging APA employees’ talent for the corporation business growth are shared and discussed.
About the Asia Society
Asia Society is the leading educational organization dedicated to promoting mutual understanding and strengthening partnerships among peoples, leaders and institutions of Asia and the United States in a global context. Across the fields of arts, business, culture, education, and policy, the Society provides insight, generates ideas, and promotes collaboration to address present challenges and create a shared future. Founded in 1956, Asia Society is a nonpartisan, nonprofit educational institution with offices in Hong Kong, Houston, Los Angeles, Manila, Mumbai, New York, San Francisco, Seoul, Shanghai, Sydney, and Washington, D.C.
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