To Celebrate Black History Month Meaningfully, We Must Equalize Opportunity in Our Workplaces

February 22, 2021
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Black History Month is an opportunity for employers and employees alike to learn about and celebrate the achievements of those who brought about more equity, fairness, and diversity in the workplace. It’s a time to reflect on monumental figures in civil rights, as well as the “unsung heroes” who toiled to make workplace conditions better for their peers and predecessors. It’s an opportunity to learn about African Americans in our respective industries that broke through hiring barriers and forged new paths so that young people could dream bigger.

This month is also a time to think about racial diversity and inclusion in the workplace and the real-world impact. Diversity and inclusion, as we have covered often in our blog, aren’t merely virtues to be embraced for the sake of morality, though that would be a sufficient reason. Study after study has shown that diversity in the workplace is America’s greatest economic advantage, and it is worth striving for not just as a matter of principle, but as a matter of real business impact. Consider:

  • Companies in the top quartile for racial and ethnic diversity are 35 percent more likely to have financial returns above their respective national industry medians. (McKinsey & Company)
  • There is a linear relationship between racial/ethnic diversity and financial performance: for every 10% increase in diversity on the senior executive team, earnings before interest and taxes (EBIT) rise 0.8%. (McKinsey & Company)

Ethnic diversity is a competitive differentiator, and that trend is intensifying as millennials – by far the most diverse generation with 44% classifying as non-white – become the dominant generation in the workforce. So we cannot merely use this month to celebrate black achievements in the American workplace; we must use it to empower and elevate deserving individuals. Everyone benefits when we do just that.

For employers, this may involve inviting a virtual speaker to talk about these issues and how employees can further the missions of diversity and inclusion. It may include promoting employee referral programs and urging employees to think about the individuals they know who deserve equal hiring opportunities. It may involve thinking about our most talented employees of color, and opportunities they deserve for development and advancement.

For our part, Imprimis Group has always prioritized diversity and inclusion. Our staff is over 50% diverse internally and our clients and talent are over 50% as well. Through our deep network of active and passive candidates, we help our clients achieve more diverse workforces by hiring highly qualified workers from groups that are often underrepresented.

As a metropolitan area and as a country, we have a long way yet to go in providing equal opportunities for all. Though we should celebrate the milestones we have passed, we must also consider that black professionals today hold just 3.2% of executive and senior manager positions and less than 1% of Fortune 500 CEO spots.

If you would like to learn more about how your business can make diversity a moral and business imperative, talk to us and let’s work to make Black History Month, 2021 a milestone in your company’s history!