Companies are making bold promises about greater diversity -- there’s a long way to go

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Companies are making bold promises about greater diversity -- there’s a long way to go

As women and minorities continue to be underrepresented in leadership positions, companies are releasing statements and announcing initiatives aimed at promoting diversity. Whether this brings meaningful change remains to be seen.

Companies that fail to promote inclusive policies face a number of financial risks, including acquiring and retaining employee talent. Additionally, as ESG investing becomes increasingly popular, companies that don’t prioritize diversity could see investors ditch their stocks.

“I do think that this has been a call to action, and the corporate community and CEOs have been visible and vocal and making statements denouncing racism and standing up to injustice. But I think the hard work happens when you do the work internally so that you have the right to make those statements,” said Lanaya Irvin, president at non-profit Center for Talent Initiative.

In recent days Americans have taken to the streets to protest the killing of George Floyd while in policy custody, as well as broader issues of systemic racism across the U.S.

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