Denver – May 24, 2023 – Colorado based workers’ compensation carrier, Pinnacol Assurance, has been named a 2023 Diversity, Equity and Inclusion winner by the Denver Business Journal in their second annual awards. The award honors the outstanding organizations and outspoken individuals in the Denver metro area who go above and beyond to bolster equality across all areas of diversity, including age, disability, gender, sexual orientation, race and ethnicity. Nominees are judged on their leadership, contributions and innovations within the organization and the community at large.
Pinnacol has historically supported the advancement of DEI, and the murder of George Floyd catalyzed a commitment to making lasting change. Since 2020, the company has hired a dedicated DEI team, diversified its board of directors which is now 55% Black, Indigenous and People of Color and 56% women, and created a DEI strategic plan with clear goals towards which the insurer has made great progress.
As part of their DEI vision, Pinnacol aims to create a culture of inclusion that deeply values differences. Their strategy includes reducing bias and promoting equity during the recruiting and hiring process. In 2022, 49% of new hires were BIPOC, and BIPOC candidates filled 22% of open leadership positions. Pinnacol also conducts quarterly anonymous surveys to measure feelings of trust and belonging among employees.
These efforts are made possible by Pinnacol’s leadership team, DEI Advisory Council, Employee Resource Group co-leads and many others across the organization who actively champion DEI. Leadership has embodied the importance of this work, with nearly 80% attending ongoing DEI learning workshops. Pinnacol executive leaders also have a portion of their compensation tied to DEI performance targets, including goals for hiring and retention of BIPOC team members, and each is an executive sponsor of an ERG or a DEI initiative.
Fostering DEI leadership In Colorado
The work doesn’t stop within the organization — Pinnacol has made significant contributions to the community as well. Throughout 2022 and into 2023, the company participated in several community events, including DEI discussions with the Aurora and Arvada Chambers of Commerce, the Dr. Martin Luther King Jr. Marade and marching alongside an employee-decorated float at the 2022 Denver Pride parade. The workers’ comp carrier is known for its top-rated injured worker care, which includes Spanish-speaking services that have shown evidence of building trust between Pinnacol and the Spanish-speaking worker community.
Pinncol’s Chief Human Resources Officer and Vice President of Employee Services Tim Johnson said, “Pinnacol is proud to be recognized among a prestigious list of winners who are making an impact by authentically promoting DEI in the workplace. While Pinnacol gratefully accepts this honor for its impactful DEI efforts, we recognize the importance of continuing this necessary work and we remain committed to the challenging yet invaluable journey of making diversity, equity, inclusion, belonging and accessibility core to its business operations to better care for the people and employers of Colorado.”