After hundreds of millions spent on diversity programs, and scores of poetic corporate promises of imminent improvement, the stats barely budge. Black people (14 percent of the American population) have been under-represented in executive ranks for decades. In the S&P 100’s 50 largest companies, only 2% of top executives are Black.
The recent study, PowHer Redefined: Women of Color Reimagining the World of Work, notes that women of color are 19% less likely than white women to feel their skills are leveraged. That’s a lot of lost leverage.
Moreover, real progress in executive diversity would mean big gains for business, and we’ve known that for a while. A 2018 Boston Consulting Group study suggests that greater diversity on leadership teams improves financial performance and innovation.
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