MLT's fall 2023 report from its Black Equity at Work Certification program offers a roadmap for employers seeking to build a truly meritocratic workplace.
WASHINGTON, Nov. 6, 2023 /PRNewswire/ -- Today, Management Leadership for Tomorrow (MLT) published its Black Equity at Work (BEW) Certification Program Analytics & Insights Report, which evaluates three years of unique data compiled from 74 employers involved in MLT's BEW program.
Based upon MLT's unique insight into the equity journey of our partners—which includes employers spanning 40 sectors and 21 Fortune 500 companies—this report demonstrates that progress on racial equity can occur when corporations and institutions commit to taking a focused and rigorous approach. The report shows that with a plan and accountability, employers can improve their performance across what our experience shows are the key pillars of racial equity: Representation; Compensation; Workplace Culture; Business Practices; and Contributions and Investments.
Through the Analytics and Insights Report, MLT highlights clear successes, challenges, and opportunities for the future. By detailing common root causes that serve as barriers to progress on equity and effective actions to overcome them, the report not only provides a service to BEW employers, but to any organization seeking to create a level-playing field for their workforce. Insights from the report include:
Areas of Success: MLT BEW partners improved Black employee representation at most levels of their organizations and are deploying sponsorship programs, leadership development opportunities, and career acceleration plans to help their Black employees establish stronger networks and critical experiences.
Persistent Challenges: Representation at senior management and top quartile earners remains a challenge. With many partners at an early stage in their supplier diversity journey, their spend is understandably low. Even for those organizations that report any spend with Black-owned suppliers, the median spend is just 1% of their overall expenditures.
Opportunities for Growth: The report highlights two areas that offer an avenue for growth: (1) creating a more anti-racist workplace and (2) developing intentional strategies to contribute to nonprofits that further Black equity or invest cash reserves in Black equity focused financial institutions.
MLT CEO and Founder John Rice remarked, "The data in this report allows us to better understand the progress our BEW partners have made since committing to the certification program, as well as the persistent challenges and opportunities for growth. This report reflects our growing understanding of what measurable actions move the needle on Black equity, and these insights will allow employers to add more rigor to their DEI efforts based upon what works."
MLT created the BEW Certification in October 2020 to establish a measurable standard for what it means to be a racially equitable employer. BEW Certified employers are committed to making progress and overcoming persistent challenges related to moving the needle on Black equity in Corporate America. In September 2022, MLT launched the MLT Hispanic Equity at Work Certification as its second program in the Racial Equity at Work Certification program series.
MLT is dedicated to building diverse leaders, equitable workspaces, and moving the needle on racial equity in Corporate America.
You can get more information about the report and download a copy of the report here.
Management Leadership for Tomorrow
About Management Leadership for Tomorrow
At MLT, our purpose is clear: we aim to advance racial equity by elevating economic and career paths for People of Color. Established in 2002, MLT is a national nonprofit committed to closing racial wealth gaps. We believe individuals of Black, Latin, and Native American (BLNA) descent should not only survive, but thrive. Spanning from college to senior-level positions, our comprehensive programs for BLNA talent have impacted over 10,000 people.
Today, we partner with over 200 notable organizations across a variety of fields including tech, finance, and education. Our Racial Equity at Work Certification Programs set a clear standard and roadmap for companies that are committed to advancing Black and Hispanic/Latin Equity in their workplaces.
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SOURCE Management Leadership for Tomorrow (MLT)