Best Buy Boosts Commitment to Diversity, Inclusion
Richfield-based electronics retailer Best Buy Co. Inc. announced more detailed plans to boost diversity and inclusion within its ranks while also ramping up the company’s community-building efforts.
“We know it’s incredibly important to our employees, customers and communities to show that we are committed to doing all we can to further economic and social justice,” said Corie Barry, Best Buy’s CEO, in a statement. “In many ways, we have engaged in these issues for years — but now we’re being bold about our commitments to hold ourselves accountable for this work we’ve promised to do.”
The company outlined a series of goals that it wants to achieve by 2025:
- Filling one out of three corporate jobs with BIPOC (Black, Indigenous and People of Color) employees. The company is also committing that one out of three “new, non-hourly field roles” will be filled by women.
- Improving inclusion efforts to create parity in employee retention rates and diversifying the company’s senior leadership to be more in line with its board of directors.
- Connect with 30,000 teens annually from “disinvested communities” and building a network of at least 100 Best Buy Teen Tech Centers.
- Providing $44 million to expand college prep and career opportunities for BIPOC students.
- Expanding opportunities for teens in the Twin Cities by investing in local Teen Tech Centers and creating a scholarship fund specifically for Twin Cites teens.
In the wake of the killing of George Floyd in Minneapolis and the social unrest that followed, Barry released a long statement in early June pledging that the company would “do better” to address racial diversity and the economic gaps often faced by BIPOC communities. At the time Best Buy created its Task Force for Racial Equity to help drive changes within the company.
Since then, Best Buy has been taking a series of steps to back up those commitments.
In late August the company announced plans to hire 1,000 new employees to its technology teams with 30 percent of those hires “being diverse, specifically Black, Latinx, Indigenous and women.”
Best Buy has also created internal Diversity Steering Committees and Employee Resource Groups to help boost inclusion.