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Deloitte recently published a study on board diversity that was a bit of a mixed bag: On one hand, the researchers found that the percent of women and underrepresented racial and ethnic groups sitting on the boards of Fortune 500 companies has increased to 44.7%, its highest-ever percentage (and up from 38% three years ago).
On the other hand, women of color hold just 7.8% of all board seats, and progress has specifically slowed for women who identify as Latina—an especially concerning finding given that this is one of the fastest-growing populations in the U.S.
To me, the Deloitte study is a reminder that progress is not linear. It’s also a reminder that changing the face of corporate America and its startup ecosystem will take consistent work from all of us, not just one-time pledges made in the aftermath of a tragedy. To that end, Forbes has conducted its first ever progress report for America’s largest companies and the steps they’ve taken to make their workforces and management teams more diverse. The majority of companies we contacted chose not to respond to our questions—a concerning sign in and of itself. But to see the results from the ones who did reply, check out the featured story below my signature.
Cheers!
Maggie
Forbes’ 2023 Progress Report: Where 11 Of America’s Top Companies Stand On Diversity And Equity Goals
Three years after corporations spoke out about diversity following the murder of George Floyd, Forbes is asking: Where is the progress? And so, we’re launching the first ever progress report on where big corporations stand in terms of their diversity and equity goals. We sent surveys to 50 U.S. headquartered, publicly traded corporations from the Forbes Global 2000, our list of the world’s largest companies. The purpose was to learn about the status and progress of programs designed to boost racial and ethnic diversity in their US workforce, on their boards and among their suppliers. Here are the initial results.
ICYMI: News Of The Week
United States soccer forwards Alex Morgan and Megan Rapinoe, along with the defender Kelley O’Hara, will make their fourth Women’s World Cup appearance after coach Vlatko Andonovski included them in his 23-player roster for the team’s title defense this week.
Around two-thirds of practicing OBGYNs say the Supreme Court’s decision to overturn Roe v. Wade has worsened pregnancy-related mortality, as well as their ability to manage pregnancy related emergencies, a Kaiser Family Foundation poll found Wednesday, as a fuller picture of the landmark ruling emerges nearly a year later.
Does playing Eminem—or any other music that is degrading towards women—at work constitute sexual harassment? According to a new ruling from the Ninth U.S. Circuit Court of Appeals, quite possibly yes.
A Homeland Security investigator says 89,000 pages of Facebook data on a 66-year-old user show he heavily relied on the social network to target vulnerable women for enforced domestic servitude, theft, babysitting and sex work.
In the U.S. Securities and Exchange Commission’s sprawling lawsuit against crypto exchange Binance and its founder Changpeng Zhao, one name appears over and over again: Guangying “Heina” Chen. A new Forbes investigation found that Chen has controlled more bank accounts and served as a director at more Binance entities than any other executive besides CEO Zhao.
The Checklist
1. Embrace self-advocacy. According to a study from Indeed, nearly three quarters of women say they fear how they’re perceived when they self-promote or self-advocate, even though these things can help us get ahead at work. Focusing on respect over likeability is one way to overcome this fear.
2. Be a rebel. Want to develop a reputation for being an innovative leader? Ask yourself questions like, “What have I been eager to do, but haven’t for fear of rocking the boat or ruffling feathers?” or “What would really shake things up for my team—in a good way?”
3. Become an angel investor. Paige Hendrix Buckner, the new CEO of venture capital nonprofit All Raise, sat down with Forbes to talk about how more women can become investors and check-writers who make decisions about which companies to fund. She told us that a lot of women who could qualify to be an angel investor don’t even know they’re eligible. Check out our full conversation for what you need to know.
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