Words are cheap. Companies must treat diversity, equity and inclusion policies as they do long-term capital investments.
That was the message from a panel discussion at Providence Business News’ Diversity Equity & Inclusion Summit and Awards event on Dec. 1 at the Crowne Plaza Providence-Warwick.
As more companies adopt diversity policies, panel moderator Kevin Matta said, there might be pushback from those who question the cost or the necessity of a work-culture paradigm shift, which can include the creation of new job titles or departments.
In short, executives want to know the return on investment.
Matta, human resources chief and diversity officer with Amos House in Providence and board vice president of Diversity & Inclusion Professionals Inc., argued that the cost is well worth it because these policies provide “expertise, and [the] ability to move organizations, transform belief systems, [and] inspire unity and inclusion.”
And diversity, equity and inclusion have taken on new importance during the COVID-19 pandemic and related social issues that continue to disproportionally affect marginalized communities and have put a spotlight on employee mental well-being.
Leaders need to treat every strategy meeting as if everyone, from employees to clients to customers, is “in the room” and has a say in the future of the organization of which they are a part, panelists said.
Part of the work also includes increasing access to overlooked talent pools, which could be filled with untapped potential.
“We have incredible talent in the state of Rhode Island, and they are hungry for that next opportunity,” said Angela B. Ankoma, vice president of the Rhode Island Foundation’s Diversity, Equity and Inclusion Initiative.
CVS Health Corp. now provides training to its human resources department and upper management to hire and retain a diverse set of talent.
“Those connections have made a significant difference,” said panelist Shaweta Pandey, CVS executive director of strategic diversity. “Making sure [our] employees feel like they have a voice, and they feel valued.”
The company also instituted a supplier mentorship program for minority vendors who can gain management skills in leadership, business innovation, marketing and finance.
Ken Gladney, executive director and manager of diversity, assets and wealth management at JPMorgan Chase & Co., said these initiatives are “how we grow and get diverse candidates up for leadership” and “ensure everyone can reach their full potential and that they can flourish.”
In 2020, JPMorgan promised to spend $30 billion over five years to help close the wealth gap for racial minorities. And it uses performance metrics to chart progress. In an organization that values data, information on what works and what does not is vital to quantify the outcomes of diversity programs.
“[We ask our employees] what are you doing to drive it. Don’t just say it; show me what you’ve done,” said Gladney, adding that instituting mentorship and job coaching programs are also important. “That’s how we see our communities represented in the workforce.”
These initiatives must move beyond “a check-box exercise,” said Monika Soban, director of manufacturing at Amgen Rhode Island and the company’s diversity, inclusion and belonging site lead.
Amgen has dedicated eight employees toward its DEI mission, Soban said. “We are shaping and creating an intentionally inclusive culture,” she said, adding that the company has also shifted additional resources to mental health and wellness.
These programs are especially vital for the training of middle and upper management employees, the front-facing component of any organization who must be pushed to develop the “muscle memory” to stay committed to the mission. And achieving buy-in from wary employees and customers might need to involve a change in workplace policies or even compensation.
“Once you start touching pocketbooks,” Gladney said, “then people tend to change their perspective.”
In a way, the recent health crisis was an education to many on the struggles that appear out of nowhere, and for no fault of their own, some panelists said.
Shameem Awan, vice president of talent management and DE&I assistant vice president at Amica Mutual Insurance Co., said the pandemic showed that more engagement and support of employees was needed, many of whom were suffering in isolation after the widespread pivot to remote work. This also opened their eyes to the plight of marginalized workers who were facing many challenges even before the onset of COVID-19.
Awam noted how the company set up a special committee tasked with training human resources staff to respond to employee needs. “Because it’s easy to have that stoic face when you are on a Zoom call,” she said.
In addition, the diversity drive needs to be more than internal to the organization. This could mean greater vetting of which suppliers companies choose to partner with, said Matta, who was also named this year’s Diversity Champion.
Doris De Los Santos, who manages the supplier diversity program at Blue Cross & Blue Shield of Rhode Island, said it is about playing “the long game,” which can not only grow market share but open the door to generational wealth for employees and customers, “creating an economy that is vibrant.”
“Making sure the practices are embedded [in the culture],” she said. “Thinking about those small suppliers that are representative of the customers that we serve.”
During an impassioned speech after accepting his Diversity Champion honor, Matta asked the crowd what price it was willing to pay “to join in on this work.”
If current policies are troublesome, Matta said, then the work requires speaking out and “seeing that they are flawed because they were not created by or for the majority of us who are paying the price today.”
“If you’re like me,” Matta said, “you have had no choice but to pay this price because the cost of silence is wrapped in a privilege you do not have.”