In this panel, hosted by Indotronix, CEIPAL was joined by DE&I experts from LVMH Inc., ADP, and Guggenheim to discuss the fallout from 2020, the challenges we face today, and practical solutions to empowering marginalized demographics.
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Moderator: Anu Rao (Director of Business Development, Indotronix)
Presenters: Corey Smith (Head of D&I, North America, LVMH Inc.); Paula Frank (Diversity Equity & Inclusion Strategist, ADP); Kate Kleyman (VP of D&I and Supplier Diversity, Guggenheim Partners)
As the years go by, a lot of movements cause changes in different sectors. The future of Diversity, Equity, and Inclusion is looking up as a result of not just the social justice movement but also because of the major paradigm shift. Employees are becoming vocal and letting the top CEOs know why they deserve to be treated equally regardless of ethnicity, gender, age, or disabilities. The year 2020 fundamentally shifted the discussion of Diversity, Equity, and Inclusion. However only a few companies are ready to address matters of Diversity, Equity, and Inclusion in 2021.
The Progress of Diversity, Equity, and Inclusion
According to some of the DEI staff of ADP company, there have been so many positive changes as regards the progress of Diversity, Equity, and Inclusion. Inclusion many firms are doing something different to be part of the positive changes in Diversity, Equity, and Inclusion. Here are some of the positive strategies being put in place for DEI purposes.
- Giving scholarships and internships to people of diverse ethnicities to study and better their communities
- Certain firms have looked into making the diversity in rising ranks in their firms unbiased
- Increase in the rate of women in leadership positions in different sectors
- Rightful placement of talented people in places their abilities are required
Measuring Diversity, Equity, and Inclusion
People say what gets measured is what matters. This only buttresses the fact that it is of utmost importance to measure DEI in order to know whether there’s progress or not. Now, the question of how Diversity, Equity, and Inclusion can be measured looms.
Different companies measure Diversity, Equity, and Inclusion using different metrics. These metrics include;
- Gender. Most companies have become intentional about improving the workforce gender-wise that they have put in place programs to aid in realizing this intention. Such programs include things like ADP’s initiative in advancing women leadership. Also, some companies have attached metrics to the advancement and promotions that take place at the workplace. The gap between the number of women who receive promotions or advance in their careers in different firms and that of men is gradually being breached.
- Ability. Most talented people regardless of whether or not they are disabled have an equal shot at various positions where their abilities are needed. In certain firms, these talents are rotated in these varying positions.
2021 is looking to be a better year as the chasm that diversity has brought upon all sectors is gradually being closed as every firm has become aware of the importance of impacting positively in the matters of Diversity, Equity, and Inclusion.