Ernst & Young: The company has launched the Entrepreneurs Access Network (EAN), a business accelerator and executive-level educational program designed to elevate Black and Latin-owned companies through access to mentors, resources and networks. Source: Ernst & Young, July 22, 2020.
Exabeam:Exabeam has announced support for FirstBoard.io, a curated network of highly qualified and diverse technology leaders seeking corporate director roles. FirstBoard.io focuses on “removing persistent obstacles that have prevented women from being chosen for executive boards and the C-suite, and by doing so, fosters greater success for companies across the tech industry,” the organization says.
Facebook: Multiple updates…
Several U.S. civil rights groups called upon some of the world’s largest companies to pause advertising on Facebook in July 2020, saying the social network is not doing enough to stop hate speech on its platforms. The groups, which include the NAACP and the Anti-Defamation League (ADL), launched the “#StopHateforProfit” campaign with a newspaper ad. Source: Reuters, June 17, 2020.
Facebook is committing to spend $1 billion per year on supporting U.S. companies that are owned by people of color, women, veterans, LGBT individuals or entrepreneurs with a disability. Source: Silicon Valley Business Journal, June 18, 2020.
Facebook plans to increase racial diversity among its own upper ranks, pledging to have 30 percent more people of color, including 30 percent more Black employees, in leadership roles over the next five years. Source: Silicon Valley Business Journal, June 18, 2020.
More than 65 percent of Facebook’s senior leadership roles are held by Whites, according to Facebook’s 2019 diversity report. Fewer than one-fourth are held by Asians, while Blacks and Hispanics only make up a combined 6.6 percent. Source: Silicon Valley Business Journal, June 18, 2020.
The company previously committed to have half of its workforce be from underrepresented communities by the end of 2023 and plans to double the number of Black and Latino employees over the same timeframe. Blacks make up 3.8 percent of Facebook’s overall workforce and Hispanics make up 5.2 percent. Source: Silicon Valley Business Journal, June 18, 2020.
FirstBoard.io:Exabeam has announced support for FirstBoard.io, a curated network of highly qualified and diverse technology leaders seeking corporate director roles. FirstBoard.io focuses on “removing persistent obstacles that have prevented women from being chosen for executive boards and the C-suite, and by doing so, fosters greater success for companies across the tech industry,” the organization says.
A group of Black venture capital managers is pressing Silicon Valley’s largest firms to commit to including historically Black colleges and universities among their limited partners, the institutions and individuals that provide capital to VC funds and reap the returns, The Information reports. Lo Toney, who spun out Plexo Capital from Alphabet’s investing arm GV, is leading the effort. At least one VC firm is already considering such changes. Source: The Information, July 13, 2020.
Professional networks have formed in cities such as Chicago, Detroit and Miami in recent months to identify and recruit Black, Latino and other angel investors of color to fund tech entrepreneurs. At the same time, venture firms founded by women as well as racial and ethnic minorities are growing their profiles in raising funds to inject capital into startups. Participants say these new angel groups can build a foundation for generational wealth through investments in high-growth companies, while enabling minority entrepreneurs to access funds from a wider range of sources. Source: The Wall Street Journal, October 21, 2020.
Goldman Sachs – Business Funding: Goldman Sachs Group has pledged another $500 million to help grow business owned by Blacks, Latinos and Women under Launch with GS, a program it started three years ago to close the gender investing gap. Source: Reuters, March 18, 2021.
Imtiaz Shaikh, chief human resources officer, Hitachi Vantara
Hitachi Vantara: The storage specialist scored 95 (out of 100) on the Human Rights Campaign Foundation’s 2021 Corporate Equality Index (CEI). The benchmarking survey and report measure corporate policies and practices related to LGBTQ workplace equality in the United States. Imtiaz Shaikh, chief human resources officer at Hitachi Vantara, shared more perspectives in this blog. Source: Hitachi Vantara, January 28, 2021.
Apology: IBM has apologized for firing computer pioneer Lynn Conway for being transgender. The apologize arrives 52 years after the computer giant fired Conway. Source: Forbes, November 18, 2020.
HBCUs: IBM will provide Harris-Stowe State University, an Historically Black Colleges and University, with $2 million in artificial intelligence and hybrid cloud technology resources to “help students build modern skills,” IBM and Harris-Stowe State University say. Among those driving the effort: Valinda Scarbro Kennedy, HBCU Program Lead, IBM Global University Programs. Source: IBM, January 5, 2021.
Intel has named Dawn Jones as chief diversity and inclusion officer (CDIO) and vice president of social impact. Jones is a 24-year Intel veteran and will lead the company’s global diversity and inclusion strategy as well as Intel’s investments and programs driving positive global impact. She reports to Sandra Rivera, Intel’s executive vice president and chief people officer. Intel, meanwhile, continues to march forward with the 2030 RISE Strategy. Jones succeeds Barbara Whye, who left Intel for a similar role at Apple. Source: Intel, April 14, 2020.
ISACA: The global technology association has launched a philanthropic foundation, One In Tech, to address inequity in IT through responsive, relevant programs designed to support under-resourced, under-represented populations. Source: ISACA, July 21, 2020.
Laws, Regulations and Rulings: The Supreme Court ruled that federal civil rights laws prohibit workplace discrimination against LGBTQ workers. Source: ChannelE2E, June 15, 2020.
“Master Agent” Term Retired: TBI will no longer use the term Master Agent, and will instead be known as a technology services distributor. TBI changed its terminology in order to promote a more inclusive technology industry, the company says. Source: TBI, September 9, 2021.
Microsoft President Brad Smith said the company will “launch some new steps in the next week” to address racial diversity in the technology sector workforce, while calling the industry’s steps to address the issue thus far “not nearly enough.” Source: Meritalk, June 19. 2020.
Microsoft CEO Satya Nadella, in an email to employees, outlined several steps the company will take to help fight racial injustice. The Nadella email mentioned these three steps:
“Increasing our representation and culture of inclusion. We will build on our diversity and inclusion (D&I) momentum from the past five years by adding an additional $150M of D&I investment, and will double the number of Black and African American people managers, senior individual contributors, and senior leaders in the United States by 2025.
Engaging our ecosystem. We will use our balance sheet and engagement with suppliers and partners to extend the vision for societal change throughout our ecosystem, creating new opportunities for them and the communities they serve.
Strengthening our communities. We will use the power of data, technology, and partnership to help improve the lives of Black and African American citizens across our country, including to address the safety and well-being of our own employees in the communities in which they live.”
Microsoft shareholders approved an activist request for the board to publish a report on the effectiveness of its workplace sexual harassment policies in a rare vote of support for an activist initiative. Source: CNBC, December 2, 2021.
The Microsoft Board of Directors said it will review the effectiveness of the company’s sexual harassment and gender discrimination policies and practices. This review responds to an advisory shareholder resolution that passed during the 2021 Annual Shareholders Meeting, and it will build on steps the company has taken in recent years to address these issues and strengthen Microsoft’s culture, the company stated. Source: Microsoft, January 13, 2022.
Netflix will allocate about 2% of its cash holdings — currently about $100 million — to financial institutions and organizations that are dedicated to helping Black communities. Source: Silicon Valley Business Journal, June 30, 2020.
Oracle: Multiple updates…
The technology giant released the following staffing metrics:
Oracle’s U.S. workforce: 68.8% are men and 31.2% are women.
Overall workforce: Almost 60% of the overall workforce is white, 26.9% Asian, 6.5% Hispanic, 3.7% Black, 2.5% “two or more,” 0.4% Pacific Islander and 0.2% Native American.
Management ranks are 68.8% white and 28.2% Asian, with Hispanic and Black representation lower at 4.8% and 2%, respectively.
PayPal Holdings: The company pledged $530 million to support minority-owned businesses and communities through community banks and credit unions focused on these groups, as well as direct investments into minority-led startups and minority-focused investment funds. Source: Silicon Valley Business Journal, June 18, 2020.
Perficient: The digital consultancy is launching Bright Paths coding bootcamps in Detroit, Michigan, and Lafayette, Louisiana. Perficient’s Bright Paths Program is designed to advance STEM education and career opportunities for underrepresented constituencies and communities, the IT consulting company says. Source: Perficient, August 20, 2021.
Private Equity & Boardroom Diversity: Ten private equity firms have pledged to each create and post five board seats to make them available to minority and women candidates, participating in an initiative to increase diversity on company boards of directors. Key leaders in the effort include Robert F. Smith, CEO of Vista Equity Partners — parent of Datto. Source: Mergers and Acquisitions, June 30, 2020.
Continue to page three of three for more DEI updates…