Recently, the Wall Street Journal published the article Why There Are Still So Few Black CEOs. It is important to note that there are only four Black CEOs among America’s Fortune 500 companies. Overall, Black people represent 3% of executives or senior-level roles. The total make-up of ethnic minorities in executive positions stands at 11 percent with a breakdown of LatinX are 3%, Indians are 3%, Asians are 2%, Middle Easterns are 1%, and 1% are multiracial. Ron Williams, the former CEO of Aetna, mentions that “opportunity is not equally distributed.”
The lack of a minority of CEOs touches on the lack of talent pipelines and high retention rates. Most organizations consider talent pipelines from college to entry-level positions. However, pipelines need to be developed for all roles in conjunction with nurturing talent. If human resource professionals see there is a shallow pool of Black talent and do not have the opportunity to accept a Black new hire there is no way one can grow into a CEO.
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Another issue is retention. Equity can play an important role when it comes to retention. Each employee holds different values whether it is salary, title, paid time off, or professional development. You will be surprised how many employees would enjoy the ability to attend a high-end conference or a course that can benefit them personally and professionally. Black employees tend to suffer various forms of microaggressions and do not have the ability to gain equality or equity in their workplace; therefore, they leave. The lack of Black talent looks negative, but the flip side is the increase in Black business owners. Think about it for a second. There is not a lack of talent to recruit from the talent is unfairly distributed and employers are suffering.
I want to encourage employees to speak up for themselves. It is essential to speak up from the beginning, during negotiations. It is always best to start your job with your needs met and all parties in an agreement. Of course, things change in life that affects your career, continue to advocate for yourself during those changes.
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Diversity & Inclusion Training
Are you a recruiter finding it challenging to fulfill the BIPOC talent pipeline? Diverse talent is everywhere, but it is important to tap into the right markets in order for you to recruit and retain top talent. At Line 25 Consulting we cover this topic in our 5-Point Framework to Inclusive Marketing and The 6 Methods For Your Organization To Become Inclusive. If you would like for us to present to your organization contact us at ngome@line25consulting.com or call (713)298-5851.