Organizations may be more at risk of losing their highly talented women and minority leaders than they realize, according to a new report by global leadership consulting firm DDI. DDI’s Diversity, Equity and Inclusion report found that hat many companies are regressing in their DEI programs. Stephanie Neal, director of DDI’s Center for Analytics and Behavioral Research, told The Business Journals that these decisions are having a knock-on effect on talent retention and company performance. “With the stress of economic uncertainty and labor challenges, companies have turned their attention away from
Companies that report workforce demographic data outperform those that don’t, according to a new analysis by JUST Capital. JUST Capital found that Russell 1000 companies that publicly disclose data on the gender, race, and ethnicity of their workforce by job category more than tripled between 2021 and 2022, increasing from 11% to 34%. Moreover, companies that disclose such demographic data outperform those that don’t by 7.9%. Diversity is good for business A 2015 McKinsey study previously showed that the country’s most racially diverse companies were 35% more likely to have financial returns above their
Spotify has allegedly spent less than 10% of a $100 million diversity fund it launched after its top podcaster, Joe Rogan, came under fire for spreading Covid-19 misinformation and using racial slurs in his podcast. The world’s largest music streaming service announced its $100 million Creator Equity Fund in February 2022 to support the licensing, development, and marketing of music (artists and songwriters) and audio content from historically marginalized groups. However, Bloomberg News reports that, after its first year, Spotify had spent less than 10% of the money on that work. Riddled with
Student-focused platform America On Tech (AOT) has been awarded a one-time grant from Michael Jordan and Jordan Brands’s $100 million Black Community Commitment (BCC) to help expand their work across cities. To celebrate Michael Jordan’s 60th birthday, the Jordan Brand awarded $2.3M to 48 organizations, to help create racial equity. America On Tech happened to be one of those, the platform founded in 2014 by Jessica Santana has spent years working to help Black and brown students elevate their careers. “Creating more equitable futures for Black people starts with an
According to reports, Black and brown people are taking up space in 1 out of 5 corporate boards for the first time. As companies push to get more diversity from top to bottom, corporate boards see more diversity, with racial and ethnic minorities holding 20% of all board seats. In an ISS Corporate Solutions Inc. study, Black directors now hold 8.3% of all board seats, a significant jump from just 4.4% four years ago. In addition, the number of board seats held by white directors fell by 9%, with white people now
Employee resource groups (ERGs) are a powerful force behind many organizations. According to a report, 90% of Fortune 500 companies have implemented ERGs into their workforce to help support their wider DEI strategy. As a result, these groups – which employees often lead – have become essential to helping businesses stay on top of their DEI commitments. Black History Month can be a reflective time for organizations to look inwardly and examine their DEI strategy for the year ahead. To support HR teams and leaders seeking to learn more about
Tech powerhouse Google has shared how it is working towards racial equity to celebrate Black History month. From prioritizing product inclusion to partnering with Black businesses and highlighting Black history – Google has spent the past few years highlighting the culture and the work of Black innovators. Showcasing Black creators Last year, Google partnered with three non-profit organizations to launch the Image Equity Fellowship. The project supported 20 Black and brown artists through their artistic journeys. The tech giant helped them receive unrestricted funding, mentorship support, and workshops to help them
A new report by Catalyst examining the experience women from marginalized ethnic groups have in the workplace has given a voice to those in the corporate world who often go unheard. What did Catalyst’s exposé reveal? The detailed report by Samantha E. Erskine, Ph.D., Sheila Brassel, Ph.D., and Kathrine Robotham, Ph.D., analyzed the experiences of 2,734 Black and brown working women based in Australia, Canada, South Africa, U.K., and the U.S. The researchers investigated their experiences’ similarities and differences to properly understand their view of the corporate world. The report aims to
Alexis Williams is an engineering student using her coding skills to design a platform that makes it easier for the Black community to incorporate social justice into their everyday routines. Alexis Williams founded PB-Resources in 2020 during the wake of the Black Lives Matter protests. Despite not knowing exactly what to do at the time, Williams decided to put her coding skills to use by building a platform in honor of George Floyd. “I was itching to get involved but didn’t know how I could do anything impactful from my living
It is easy to see the recent tech layoffs as businesses simply restructuring and cutting funds where they see fit. However, it is crucial for us to remember that behind every job cut is the new reality of someone’s life. Being Black in the workplace A recent TikTok video of a Black woman sharing her pain and frustration after being laid off from her job has triggered an all-too-familiar feeling amongst Black professionals. YouTuber and TikTok user @aestheticsconash posted a video on her social media shortly after being fired
