Why Companies are Still Doing a Terrible Job of Advancing Black Employees
This article discusses the lack of progress in advancing Black employees in the workplace and the reasons behind it. According to a survey, nearly two-thirds of employees believe that their companies are not doing enough to foster diversity, equity, inclusion, and belonging (DEI&B). Additionally, a study by McKinsey & Co. found that it will take about 95 years for Black employees to reach parity across all levels in the private sector. Representation of Black employees at the managerial and senior management levels is significantly lower than their overall representation in the workforce.
Jennifer Moss, a workplace strategist, highlights the impact of the pandemic on training and development programs. Investment in these programs was sidelined, creating a disadvantage for historically marginalized and younger workers. Career planning was put on pause, leading to a lack of upward mobility and contributing to the quiet quitting movement. Jennifer talks about the need for companies to renew their emphasis on mentorship, with DEI&B as a core focus. Mentorship can showcase how DEI&B makes teams and companies better, and companies with diverse leadership and workforce have a competitive advantage in the marketplace.
One of the reasons for the lack of progress is the prioritization of diversity initiatives during the pandemic. Many companies may have put these initiatives on the back burner, despite the fact that prioritizing equity has been linked to financial well-being. Lack of career growth and opportunity is a major reason why Black professionals leave their jobs, ranking second behind competitive wages. Some companies struggle to understand the importance of DEI&B in the workplace experience, viewing it as a political agenda rather than a means to enable the right talents and capabilities to grow the business.
This article highlights the ongoing challenges in advancing Black employees in the workplace. It emphasizes the need for companies to prioritize diversity, equity, inclusion, and belonging, and to invest in mentorship programs that focus on DEI&B. Jennifer Moss underscores the impact of the pandemic on training and development programs and the importance of career growth and opportunities for retaining Black talent.