Diversity Deep Dive

018. Pay Equity & Women in the Workplace in the Age of COVID-19

Earlier this year the World Economic Forum released the 2020 Global Gender Gap Report in which it highlighted that it will be close to 100 years before we see gender parity. A more sobering realization is that due to COVID-19, and the reimagined workplace where work and home responsibilities have intersected, many women are scaling back their careers. In a recent Department of Labor report on unemployment, women have left the workforce at four times the rate of men. Women are often the caregivers, and COVID forces schools to close and distant learning, women are juggling in a pressure cooker to the breaking point multiple priorities at home and at work.

017. COVID-19 & The Impact on Working Parents

A recent survey conducted by Catalyst, reveal that 48% of working parents believe that they will need to reduce their hours or move to part-time work in the coming months due to the impact of COVID-19. Furthermore, the study highlights that nearly 33% are fearful that they will lose their employment in the next six months. Undoubtedly, COVID-19, is having a catastrophic impact on working families. This global pandemic has exacerbated the struggle of working parents’ ability to successfully integrate work and home life priorities. From the loss of adequate childcare, elder care or after school programs, many working parents are being forced to scale back on their career trajectory and focus on their home responsibilities. For single parents without a sufficient support system, COVID-19 has led to an increase in mental health stress and burnout.

016. COVID-19 & the Impact on Veteran Hiring

According to a recent study by the Bob Woodruff Foundation, there are roughly 18 million Veterans in the U.S. Many of them work in industries hit hard by COVID-19. Rising unemployment and uncertainty fuels the crisis further. As a result, some Veterans and their families do not have sufficient savings to cover their day to day expenses for more than one or two months. Furthermore, a Pew Research Study on unemployment indicates that there are more people impacted by unemployment due to COVID-19 than at the peak of the Great Depression. Particularly we see women hit the hardest with up to 14% unemployment. Active military spouse unemployment has been as much as 25% this year. As military spouses were being largely underemployed pre-COVID-19, the pandemic has an insurmountable impact on their economic and mental health. It is critical, as we weather the current pandemic, to continue pushing for veteran and military spouse employment.

015. COVID-19 & the Impact on Diverse Suppliers

According to Johns Hopkins University, as of July 23, 2020 more than 15 million people have been infected with COVID-19 worldwide. In the U.S more than 3.9 million people have been diagnosed and more than 141,000 deaths have been reported. This global pandemic has forever impacted our lives and businesses. The unique challenges spurred by COVID-19 has caused many companies to pivot to a reimagined workplace as well as seek innovative solutions to meet the changing consumer demands. However, many certified diverse businesses have long faced systemic barriers to economic inclusion and wealth generation prior to COVID-19. Now more than ever, we need corporations to focus on strengthening and diversifying their supply chain for a sustained economic recovery. It starts with supporting certified small and diverse businesses.

014. COVID-19 Impact on Global Women Owned Businesses

Women-owned businesses are one of the most significant drivers of innovation and job growth in both developed and emerging markets. WEConnect International strongly believes that this is the time to rebuild global business for good by ensuring everyone has an equal opportunity to contribute to and benefit from the recovery. We know that companies and governments proactively investing in supplier diversity and inclusion will reap major dividends as we seek to recover from the global pandemic and systemic inequality. The reality is that today women only account for about 1 percent of the global spend on products and services by corporations and governments. In addition, women-owned small and medium enterprises (SMEs) in emerging markets still face a US$1.5 trillion annual credit gap that needs to be closed. However, they are often untapped resources for inclusive growth, which is particularly true for women of color. WEConnect International recognizes that engaging women as business owners from the beginning to the end of global value chains is critical now more than ever and the payback is worth trillions of dollars. As businesses work to recover from the COVID-19 crisis and learn from the mass protests for justice and equality, know that WEConnect International will continue to help lead the effort to rebuild the global economy for good. When women gain access to finance and their sales increase, they invest in the health, welfare and education not only of their households but also in their communities, yielding measurable prosperity for all. This is not only the right thing to do morally but good for corporate bottom lines and government policy. If all entrepreneurs had equal opportunities, including access to markets, global GDP could rise by as much as 6 percent, boosting the global economy by US$5 trillion.

013. COVID-19 Impact on Diverse & Underserved Communities

According to the Centers for Disease Control and Prevention (CDC), more than 1 million people in the U.S. have been infected by COVID-19 as of April 30, 2020. This global pandemic has swept across communities leaving devastation and heartbreak behind. It has highlighted a longstanding problem of healthcare disparities plaguing poor and underserved communities which are most often populated by a large number of minorities. A more sobering realization is that the hospitalization and death rates which are disproportionately impacting African- American and Hispanics. In a recent Washington Post analysis, which compiled data from nine jurisdictions reporting infection and death rates by race, African Americans died at almost six times the rate of Caucasians.

012. COVID-19 Impact on the Asian American Community

According to the World Health Organization, as of April 2020, the novel coronavirus has infected more than two million people in 213 countries. Worldwide there have been reports of anti-Asian discrimination. According to the Asian Pacific Policy & Planning Council, the United States has seen a 17% increase in discriminatory behavior since the onset of the global pandemic. The behavior ranged from harassment, childhood bullying, being barred from establishments, to verbal and physical attacks. At the cornerstone of diversity and inclusion are respect, civility, compassion, understanding, and empathy toward all humanity. Diversity defines how we describe our unique characteristics and differences. Inclusion is how well we are embraced and welcomed. Belonging transcends both diversity and inclusion; it is a sense of being able to unmask and be who we truly are in the workplace and all spaces we occupy without labels, stereotypes, fear, or feeling uncomfortable.

010: Women Veterans - Finding Success after Service

Successful inclusion efforts ensure that all groups, regardless of demographic differences, are acknowledged, welcomed, and respected in the workplace. Veterans represent a large community of often untapped talent. According to a recent Miltary.com article, women veterans are more likely to struggle with their identity when they transition to civilian service than men.* Finding success after service can be filled with challenges and struggles. Employers can work to create a community that supports success after service for transitioning veterans. In the words of U.S. Veteran and Senator Tammy Duckworth, “We owe it to all our veterans to make sure they have a chance to achieve the American Dream, just like the rest of us.”

009: Building an Inclusive Workplace for LGBTQ Workers

Diversity and inclusion are built on the cornerstone of respect and acceptance. Yet, according to a recent study by the Human Rights Campaign Foundation, almost 50% of LGBTQ workers remain closeted in the workplace.* It’s a time to ask are we creating safe spaces where everyone can bring their whole selves into the workplace. In the words of author, Steve Maraboli, “How would your life be different if you stopped making negative judgmental assumptions about people you encounter? Let today be the day you look for the good in everyone you meet and respect their journey.”

003: Inequities & Missed Opportunities for Diversity & Inclusion

Established almost 20 years ago, DiversityInc continues to be the “Gold Standard” for companies who want to be recognized for their D&I efforts. As a trailblazer in diversity media and analytics, DiversityInc has earned the reputation as a credible source for rating premium companies on their diversity and inclusion-management programs. DiversityInc deploys a rigorous, objective, step-by-step empirically driven evaluation to globally recognized corporations each year with over 1800 corporations participating last year. A recent survey demonstrates that many of the employers on this list consistently outperform the Dow Jones Industrial Average, in many instances year over year.