Two of the most influential Black business leaders in the US are calling on companies to rethink scaling back their diversity, equity, and inclusion (DEI) efforts, according to CNN. Ken Frazier, who served as CEO of Merck from 2011 to 2021, was the first Black CEO of a major pharmaceutical company. Ken Chenault, CEO of American Express from 2001 to 2018, was only the third Black CEO of a Fortune 500 company. The leaders warned that reducing DEI efforts could limit opportunities for future generations of leaders facing racial and
Crowe LLP, in collaboration with Intuit Inc., has launched an innovative initiative called Crowe Beacon for minority-owned businesses. The Crowe Beacon Crowe LLP is a leading public accounting, consulting, and technology firm, and Intuit Inc. is the technology platform behind Intuit QuickBooks, TurboTax, Credit Karma, and Mailchimp. This initiative, announced in Chicago as part of Black History Month celebrations, aims to empower minority-owned small businesses by enhancing their financial maturity and capital readiness. The Crowe Beacon small business advancement initiative responds to the challenges faced by minority-owned businesses. The initative
Employees globally are voicing a need for more diverse and equitable workplaces despite the recent backlash against DEI initiatives, a survey has found. The How to Talk About Diversity With Employees to Achieve Your Company’s Objectives survey by Catalyst had over 6000 employees across 11 countries reveal their thoughts. A Call For Vocal DEI Efforts The survey revealed that 9 in 10 (93%) employees believe it’s crucial for organizations to be vocal about their DEI efforts. Additionally, 3 in 4 (76%) of the respondents claimed that organizations should actively strive
PricewaterhouseCoopers (PwC), a major player in the accounting industry, has recently revised its diversity and inclusion initiatives in response to legal and social pressures in the United States. With a workforce of 46,000 in the U.S., PwC’s adaptations signal a significant shift in corporate diversity strategies. The firm has altered its approach following a Supreme Court ruling against race-conscious university admissions, which has wider implications for employment practices. This change has led PwC to eliminate race-based criteria in its student internship program and professional accounting exam preparation scholarships. These initiatives
Chief Diversity Officers (CDOs) are nervous their efforts for Diversity, Equity, and Inclusion (DEI) may be diminished or eradicated, leaving them with a more cautious approach, a new study reveals. Political and Legal Challenges to Workplace DEI A new Seramount study, “Keeping DEI Strong in Volatile Times,” highlights the impact of political and legal challenges to DEI in the workplace. Seramount is a workplace research firm serving over half of Fortune 100 companies. Following the killing of George Floyd, companies set pledges to prioritize DEI. Between June and August 2020,
