Diversity and equality

Citigroup has finally taken a hammer to one of the most-glaring glass ceilings in the finance world after announcing Jane Fraser would become its next CEO.

Among the quarter of American employees still working at home because of the pandemic, a majority were in jobs such as computer science, legal and finance.

The Board Challenge, a group of 43 companies, will advocate for corporate boards to draw from a wider pool of candidates to give more executives opportunities to serve.

“This isn't just an issue for women. It's an issue for families, and it's an issue for the government and economies because it drives GDP,” says Jennifer Reynolds, a former investment banker and CEO of Toronto Finance International.

Employers seeking strong social skills are going after females applicants when hiring, according to new data.

The move is part of the effort by banks and other companies to promote racial equity and be more sensitive to the stresses on front-line employees.

By 2022, boards with at least nine directors would have to include three or more minority members, the California Assembly said.

As employers grapple with creating more diverse and inclusive workplaces, bringing awareness to how microaggressions ostracize their employees is a critical step.

As many as a half-dozen companies, including Wells Fargo and Delta Air Lines, have said they’ve adopted workforce quotas in recent months.

More female talent in an organization creates greater job satisfaction, stronger organizational dedication, less burnout, better retention and higher engagement.

JPMorgan Chase's decision to depend on virtual interviews, predating the coronavirus outbreak, has allowed the firm to connect with more candidates from more schools than ever before.

With activists and shareholders increasingly pushing for diversity on boards of directors, experts suggest searching for new directors in a wider pool of candidates.

Since the nationwide Black Lives Matter protests spurred by the killing of George Floyd by Minneapolis police, the racial make-up of boards is getting a closer look.

Non-white workers accounted for 73% of cases linked to 210 workplace outbreaks in Utah through early June, even though such employees made up only 24% of the workforce, according to the U.S. Centers for Disease Control and Prevention.

Black women have it the hardest in corporate America, and it will be even more difficult for them to overcome systemic barriers to advancement in a pandemic, according to Facebook chief operating officer Sheryl Sandberg.

Other Black women who’ve made it to the highest levels of their fields say Harris will strengthen conversations about workplace diversity in the U.S.

Only 7% of white workers agree that racial inequity exists in their workplace, compared with 35% of Black respondents, according to a report by the Society for Human Resource Management

Industry leaders comment on what needs to be done in the financial realm to increase diversity.

Addressing racial issues in the workplace starts with having conversations about race at work. Companies can promote listening, encourage discussion and set goals to facilitate those conversations.

Director of Business Development at EisnerAmper Brigette Lumpkins discusses how it felt to be seen as a diversity hire at Lehman Brothers and Barclays.