Data and insights on racial equity in the workplace will help employers close the career, health and wealth gaps faced by Black Americans.
The heightened focus on racial equity in the US has illuminated longstanding disparities facing the Black community in the workplace. Traditionally, the focus on race in the workplace has been limited to unemployment rates and representation in higher-level positions. The real disparities, however, run deeper and broader, and they are often underpinned by unseen connections.
Stepping up for equity
Stepping Up for Equity: How Employers Can Close the Career, Health and Wealth Gaps Faced by Black American Workers examines the actions employers are taking to advance equity — and provides actionable guidance on helping Black employees thrive.
Accelerating meaningful and sustainable change demands an impact- and data-driven approach. As a result, employers have a unique opportunity to step up their efforts to deliver the career equity, physical and financial health, and belonging that Black employees in the US workforce need to thrive.
Seven actions for creating racial equity in the workplace
Target turnover.Data show that companies can better accelerate progress for Black employees by achieving high levels of retention.
Pivot the pipeline.Organizations have not yet developed strong internal talent pipelines for Black employees. Doing so will require accessing previously untapped sources of talent.
Create pay and career equity.Achieving pay equity by race has become a more conscious part of companies’ compensation philosophies, but it’s not the whole compensation story.
Dig into disparities.Effective corporate diversity, equity and inclusion (DEI) efforts need to address sizeable disparities in health and financial wellness that afflict the Black workforce.
Explore employee experience.We are seeing significant gaps in how employers approach the everyday experience for Black employees.
Target transparency.Pressure is increasing from many internal and external constituencies to make visible improvement in corporate DEI outcomes.
Too soon to tell.Many companies are taking a wait-and-see approach to some key tactics, and, in other cases, it’s too soon to tell whether these types of racial equity programs are having an impact.
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