The End of Diversity and Inclusion?

1.6% of the Fortune 500 CEOs in 2024 are Black which is second only to the record high set in 2022 of 2%. This when Black Americans make up over 14% of the general population. Yet, the first line of a February 9th, 2024, Fortune article goes like this, “The Fortune 500 is making progress when it comes to Black leadership. That’s the good news.” The numbers, however, show that Corporate America has made very little real progress with their Diversity and Inclusion initiatives to promote Black leadership. Now, we find that these initiatives are becoming victims of America’s culture wars as more states seek to pass “anti-woke” legislation under the auspices of building a “color-blind” society. Is this the end of Diversity and Inclusion?

My Privilege Identified

Full disclosure. “Black men, who make up most of this year’s Black CEOs, face an unusual challenge with a peculiar name: the Teddy Bear effect.” Whoa, that really hit me between the eyes! If only I had a dime for every time someone told me, I look like a big teddy bear. So, according to this article, I reside amongst a privileged class of Black men. “… stereotypes of Black men as aggressive mean that those with teddy-bear-like features–such as rounder cheeks or bigger eyes–advance further in the workplace.” The article goes on to state that “It’s hard to admit that sometimes you were the beneficiary of things that were not under your control,” but recognizing privilege is an important part of diversifying companies. So, here I am, admitting to my privilege of seeming less aggressive than other black men because of my round face and two dimples.

My Solution

It’s time. It’s time for all minority groups to start and build their own businesses and stop relying solely on climbing the corporate ladder. Especially since that ladder is always missing a rung or two for us. “Harvard Business Review, which describes sponsorship as a reciprocal relationship that “turbocharges the careers of both” parties, found that while 20% of white employees have sponsors, only 5% of Black employees do.” I was fortunate in my career to find a sponsor that pulled me into the executive board room. Just so you know, merit does not get you into the boardroom, it never has. It’s a club, therefore, relationship is what gets your there, i.e. Do you have a great relationship with the right person?

Let’s be perfectly clear. In order for that relationship to be great, there must be a win for both parties. It could be that you are the only person who will call your sponsor out on their stuff, while your sponsor may be getting the benefit of preloading you as their replacement because they plan to leave the company. Build your own business so you can be the one determining who should be in the boardroom with you. Maybe you will change the script by building a merit-based executive team?

Diversity and Inclusion

If we want a society that flourishes economically, we all need to embrace and profit from our individual creative talents. Let’s be real for a moment, the vast majority of America understands that all money is green. They will support businesses that deliver high value to their lives or high quality to their businesses. If you want diversity and inclusion, build it into your business. According to The Integration of College Football published in the American Institute for Economic Research, “Social change can occur through constructive engagement, through a series of small changes each involving a mix of self-interest and appeals to the greater good.” But it was a home game in 1970 between the University of Alabama and USC to which I refer. “Southern California ran roughshod over Alabama and, the next day, Coach Bryant asked the Board of Trustees to be able to recruit players regardless of color.” If you want Diversity and Inclusion, build it into your business, wipe the field with your competitors, and they will come.