Racial Equity

Our commitment to opportunity for all.

At Stanley Black & Decker, it’s not in our nature to sit back and wait for things to happen. We’d rather lead the way.

That’s why we’re taking thoughtful, deliberate steps to drive progress and confront racism and social injustice throughout our communities and across the world. Our 10-point commitments may be just a start, but we’re hopeful that we’re moving in the right direction.

We Stand To Do Better

As a company, there are some things we just won’t stand for. Like injustice or indifference. It’s part of our corporate culture, part of our career development roadmap and part of our community involvement.

We will show our commitment to diversity, equity and inclusion as a foundational culture element by:

  • Sharing, promoting and advocating the commitment across the company as a cornerstone of who we are
  • Taking action that reinforces there is no place in our company for anyone who does not demonstrate these leadership principles or live by our company’s values

We will ensure Black employees at Stanley Black & Decker are equipped with:

  • A clear and compelling roadmap for success
  • Transparent visibility to opportunities for growth and advancement
  • Access to individuals, networks and resources necessary to reach their professional goals

We will leverage our long-standing legacy and position as a leading Global Diversified Industrial to:

  • Be an economic growth engine in communities of color within our global footprint
  • Accelerate entrepreneurship, support minority businesses and increase supplier diversity
  • Drive development in youth and workforce opportunities

10 Actions To Meet Our Commitments

We know that we don’t have all the answers. But we do have specific plans in place. And we plan to hold ourselves accountable by achieving the milestones we’ve set for ourselves as a company with a unified commitment to equity and opportunity.

Culture

Evolving who we are as a company

Expand our Stanley Black & Decker Office of Diversity, Equity and Inclusion. Appointed Chief Diversity Officer along with ensuring creation and scaling of DE&I resources and alignment across businesses and regions.

Provide clear channel of communication for reporting discrimination and retaliation. Empowered our people to report any work issue including discrimination, harassment or any behavior that does not align to our values or that may be against the law.

Develop a comprehensive Racial Equity Library for all employees and require equity training for leaders. Race Forward Guide developed and made available to all employees through the DE&I SharePoint and Workplace Knowledge Library.

Support racial equity causes and minority-owned businesses through our employees’ participation in annual U.S. week of service. In 2021, hosted first Juneteenth Week of Service. As of 2021, Juneteenth is a recurring holiday for all U.S. employees.

Career

Laying the groundwork for success

Build relationships with Historically Black Colleges and Universities (HBCUs) and other institutions that support equity through education. Awarded $400,000 to 22 students at five target HBCUs through the Stanley Black & Decker Leadership Scholarship. Hosted the inaugural Stanley Black & Decker Innovation Challenge.

Launch a multi-month, best-in-class Black leadership development program with high participation rate. 77 Black leaders attended first cohort of the McKinsey Black Leadership Academy. 44% of 2021 Executive Sponsor Program participants are racially or ethnically diverse.

Reform our performance review process to ensure visibility to Black and other diverse talent. Launched the inaugural DE&I Quarterly review in December 2021. Increased diverse representation at all levels of the organization.

 

 

Community

Building a strong network through outreach

Donate at least $10.5M by 2025 to strategically aligned racial equity-related organizations. $1.6M donated by year-end 2021; $3M commitment in 2022.

Create a community-based strategy to drive equity, inclusion and economic development for Black youth and people of color. Launched Empower Makers Global Impact Challenge to fund nonprofit initiatives. Launched RISE Community Program in Greater Hartford, CT, that provided access and support to 39 students.

Expand our partnerships with minority- and women-owned businesses to increase supplier diversity spend from 3% to 10% by 2025. Partnered with Chamber of Commerce Coalition to Back Black Business and Ureeka to mentor four black-owned enterprises qualifying as small businesses.

Rise to the Challenge

We support a company culture where all employees can thrive.

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