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News Release
June 15, 2004
PNM Again Named Best Company in Nation
for Hispanics
Best
U.S. Companies for Hispanic Employees
- PNM Resources
- Southern California Edison
- Colgate-Palmolive
- McDonald's
- Safeway
- Union Bank of California
- BellSouth
- SBC Communications
- PG&E Corp.
- Abbott Laboratories
Companies with Largest Number
of Minorities Among Top 50 Paid Employees
- Fannie Mae
- Applied Materials
- PNM Resources
- United States Postal Service
- Abbott Laboratories
Companies with the Largest Percentage
of Minorities Among Officials and Managers
- Yum! Brands
- Union Bank of California
- McDonald's
- Hyatt
- PNM Resources
Best U.S. Companies for Minority
Employees
- McDonald's
- Fannie Mae
- Sempra Energy
- Union Bank of California
- Denny's
- U.S. Postal Service
- PepsiCo
- Southern California Edison
- Freddie Mac
- PNM Resources
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Albuquerque: For the sixth year in a row, FORTUNE
magazine has ranked PNM as the best U.S. company for Hispanic
employees. The company also earned the spot of 10th best overall
for minority employees.
In its June 28 issue, on newsstands next week, the magazine
also ranks PNM the third best company with the largest number
of minority employees among its 50 highest paid. PNM also
ranked fifth in the nation for having the largest percentage
of minorities in management positions.
"We're committed to attracting and retaining a diverse,
talented work force," said Alice Cobb, PNM senior vice
president of People Services and Development. "This national
ranking further reflects the satisfaction among PNM employees.
In a recent employee survey, 69 percent of our employees ranked
PNM as a great place to work."
PNM is the only New Mexico-based company to make this year's
FORTUNE list.
View
the entire FORTUNE list (fortune.com)
Hispanics make up more than 40 percent of PNM's work force,
with minorities comprising more than 48 percent of all employees.
Cobb said a driving force behind the company's success with
minority employees is its increasing appeal as an employer
within New Mexico and the Southwest. One main reason, she
said, is PNM's benefits.
"We continue to add to the variety of benefits we offer
including wellness education and health management,"
Cobb said. "While many other companies are reducing benefits,
PNM's package is growing. We offer employees benefits that
are competitive regionally and nationally."
During 2003, PNM increased the company's 401(k) match for
employees nearing retirement; introduced an employee stock
purchase plan with a 15 percent discount; and increased the
amount the company pays for employees to pursue degrees. Today,
employees are reimbursed as much as $5,250 annually for tuition,
books and fees.
"We also support PNM employee organizations, such as
LLAVE and the Women's Professional Organization, to engage
and prepare them for leadership roles in our company,"
Cobb said.
In addition, for the past three years PNM has sponsored an
NAACP job fair in Albuquerque.
The FORTUNE study evaluated companies responding to survey
questions on diversity of work force, management diversity,
compensation, vendor contracts and other factors. The study
was based on 2003 data.
PNM data provided to FORTUNE showed that:
- 48.5 percent of PNM's work force is minority.
- Half of all new employees hired in 2003 were minorities.
- Four Hispanics and five women serve as officers of PNM.
- Minorities comprise almost 34.9 percent of PNM's management.
- Three Hispanics and three women serve on 10-person PNM
Resources Board of Directors.
- 4.5 percent of the work force is Native American.
- 12 of the 50 top paid employees are minorities.
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