COVID-19: Impact & Response
Two Years later...
The Impact of the Coronavirus on African American Unemployment: Lessons from History Still Matters
An examination into the potential economic impact of COVID-19 on the state of racial disparities among the African American labor market by examining two effects, namely, employment and income differentials, using national, state, and city level data (using data for all 77 neighborhood areas of the City of Chicago).
Diversity Still Matters
(May 19, 2020)
Inclusion and diversity are at risk in the crisis - but are critical for business recovery, resilience, and reimagination. - McKinsey & Company
We would argue that companies pulling back on I&D now may be placing themselves at a disadvantage: they could not only face a backlash from customers and talent now but also, down the line, fail to better position themselves for growth and renewal.
Research has repeatedly shown that gender and ethnic diversity, inclusion, and performance go hand in hand. The benefits of inclusion and diversity are clear now—and that doesn’t change in a crisis.
Diversity winners that deploy a systematic approach to inclusion and diversity and don’t fear bold action to foster inclusion and belonging are most likely to reap the rewards. Now is the time to be even bolder.
Diverse teams are more innovative—stronger at anticipating shifts in consumer needs and consumption patterns that make new products and services possible, potentially generating a competitive edge.
Strategic agility—the ability to spot and seize game changers—is likely to be a mission-critical trait. It is also likely to be stronger in organizations that can draw on the full spectrum of diverse talent available to them.
When companies invest in diversity and inclusion, they are in a better position to create more adaptive, effective teams and more likely to recognize diversity as a competitive advantage.
COVID's Effect on Minority-Owned Small Businesses in the United States
(May 27, 2020)
Already vulnerable, minority-owned businesses brace for disproportionate impact. - McKinsey & Company
Minority-owned small businesses are more optimistic and more likely to offer support to their local community.
The crisis could disproportionately affect minority-owned small businesses for two critical reasons: they tend to face underlying issues that make it harder to run and scale successfully, and they are more likely to be concentrated in the industries most immediately affected by the pandemic.
Research has found that black small-business owners were significantly more likely to be asked to provide more information about their personal financials—when applying for small-business loans than white small-business owners were.
The share of minority-owned small businesses and minority employment is highest in the industries most directly affected by COVID-19.
Despite being more optimistic about the recovery of the economy as a whole, minority-owned small businesses appear to be more concerned about the impact the pandemic will have on their own businesses
Expanded access to funding, incentivizing lending, accelerate receivables from government or large corporate customers, procurement commitments from government organizations and the private sector, access to technology
Decision makers in the private, public, and social sectors should treat the COVID-19 pandemic as an impetus to address the many structural challenges facing these businesses.
Jumpstarting The Recovery
Navigating the return across industries - McKinsey & Company
Moving from wartime to peacetime in health care
Navigating the government response
Reviving consumer and packaging
Steering the future of airlines and advanced industries
Leading the recovery in financial services
Adapting private equity to the new reality
Reimagining the Post-Pandemic Organization
(May 15, 2020)
The organization of the future is taking shape in the moves that companies are making now. Here's what's changing - and why some companies say they won't go back. - McKinsey & Company
Take a stand on purpose
Reimagine value creation
Get intentional about your culture
Move beyond a ‘hierarchy of bosses'
Turbocharge decision making
Treat talent as your scarcest resource
How can leaders accelerate their companies’ journeys toward becoming not only faster but also better for customers, employees, and society at large?
ERG Best Practices
ERG Best Practices | McKinsey Diversity Report | ERG Resources
Feb 2019 | How to Foster Workplace Belonging Through Successful Employee Resource Groups - Forbes
For companies today, diversity and inclusion are often listed as top organizational priorities. It is great that more companies are investing in diversity and inclusion efforts, however...
Category: Diversity, ERG
Tag: Diversity, ERG, Workforce
Feb 2019 | Don't Get 'Ghosted': How Inclusion Will Keep Your Millennial Employees From Walking - Entrepreneur
If you think back 10 or 15 years, "maintaining diversity" meant getting people of color, women and other underrepresented groups around the table. But just...
Tag: Diversity, Millennials, Workforce
Jan 2019 | Do your employee resource groups need a makeover? - Crain's Chicago Business
In 2015, Discover launched its Pride credit card, tailored to the LGBTQ community. Riverwoods-based Discover says the rainbow-colored card is a success: The number of...
Tag: Diversity, Workforce
Oct 2018 | How Managers Can Make Casual Networking Events More Inclusive - Harvard Business Review
Research on affinity bias shows that we are naturally drawn to people who are like us. A casual drink here, a few networking events there with like-minded colleagues isn’t so...
Oct 2018 | How To Start An Employee Resource Group At Your Organization - Forbes
One of the most effective ways to foster an inclusive environment is the utilization of employee resource groups (ERGs). ERGs are employee-led groups that are formed based...
Tag: Diversity, ERG
Sept 2018 | How To Retain Diverse Talent - Forbes
The importance of employee resource groups (ERGs) cannot be overstated ... Creating ERGs can foster inclusion and belonging, and impact retention rates.
Apr 2018 | The ABCs of ERGs - NIH
An Employee Resource Group (ERG) is an organizationally supported group of employees drawn together by characteristics that the group has in common.
Mar 2018 | Employee Resource Groups - Diversity Best Practices
Relevant and up to date resources.
Dec 2017 | Did Deloitte abandon ERGs too soon? -TEKsystems
Perhaps. 90 percent of ERG participants at TEKsystems say their ERG makes them feel more engaged with our company.
Nov 2017 | In What Ways do Employee Business Resource Groups Positively Impact the Company's Business Results? - Cornell University ILR School
Despite the recent questioning of ERGs and their effectiveness, well-managed ERGs can ignite inclusion and are critical to the success of diversity initiatives in the workplace.
Oct 2017 | Employee Resource Groups: Moving from Concept to Implementation - Mallinckrofd Pharmaceuticals
Teams are voluntary, employee led and consist of individuals who join together based on common interests, backgrounds or demographic factors.
Sept 2017 | More Than A “Club:” How To Make Employee Resource Groups Matter - Jopwell
D&I can’t succeed in a silo: The needs of each group differ, but the lessons that come from individual experiences often benefit more than a single ERG.
Aug 2017 | Best of Both: ERGs AND Inclusion - Diversity Best Practices
Despite the growing need for discussions about intersectionality and how to address it, the fact remains that people from underrepresented groups are still,well,...
Jan 2016 | What's Next for Employee Resource Groups? - Association for Talent Development
There is evidence that ERGs are evolving with the times. For example, many organizations are now referring to them as business resource groups (BRGs) to reflect an increased business focus.
Oct 2016 | Employee Resource Groups Can Help Boost Bottom Line - Bloomberg
ERGs can also have a significant impact on a company’s bottom line by supporting the brand image, improving retention and increasing employee productivity.
Employee Resource Group (ERG) Best Practices & Resources
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