Many companies have been outspoken about their support of the black lives matter movement. While being vocal is important, what is needed right now is action.
Mark R. Kramer has outlined 10 commitments companies must make to advance racial injustice. While these commitments won’t eliminate structural racism alone, they are changes that every company has the power to make and will transform millions of lives for the better.
From the Article:
1. Commit to anti-racism personnel policies and racial-equity training.
Adopt a no-tolerance-for-racism policy like Franklin Templeton’s, which led to its swift, recent termination of Amy Cooper following her altercation with Christian Cooper, an African-American bird watcher, in Central Park in New York City. And to back those policies, provide racial equity training for all employees — from the CEO and board to hourly workers. White privilege has blinded so many of us to understanding the ways that racism is built into our society, our economy, and our own lives. Change, for each of us, must start with our own learning journey, and resources are plentiful.
2. Commit to pay equity.
There is no longer any excuse for disparities in the wages paid to people of color and especially to women of color whose pay is twice discounted. Conduct a wage equity audit, and make the adjustments needed to achieve fair and equitable pay. For example, PayPal makes adjustments regularly throughout the year to maintain equity. Studies have shown that closing the racial pay gap would increase U.S. GDP by 14%, or more than $2 trillion.
Read more tips and get the full article online: The 10 Commitments Companies Must Make to Advance Racial Justice.
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