Financial Institutions Can Help Break the Cycle of Racial Inequality
Closing the wealth gap demands radical disruption in the way financial organizations and investors prioritize, target, and invest in Black consumers.
We have deep expertise in supporting organizations to drive measurable change in both diversity and inclusion.
BCG’s insights also reveal which shifts leaders need to make—and where to focus investments—in order to increase diversity and inclusion.
Closing the wealth gap demands radical disruption in the way financial organizations and investors prioritize, target, and invest in Black consumers.
Companies can’t capture the real value of a diverse workforce until they create an organizational culture that welcomes everyone—truly everyone—to participate.
LGBTQ employees have changed, and companies need to upgrade their HR policies to match. The main challenge? Creating the right working environment.
Championing inclusiveness at the highest levels of portfolio companies is the right moral choice—and it has practical benefits, too.
Company leaders must acknowledge their blind spots, respond to the needs of diverse groups, and focus on the measures that really work.
Don’t keep recruiting the same kind of people, who look just like you, warns Miki Tsusaka. Diversity makes for better outcomes.
Want to generate inventive new ideas that can win in the market? Build management teams comprising people with the widest possible range of backgrounds and perspectives.
It’s important to look at workplace diversity along a number of dimensions, including gender, race and ethnicity, age, sexual orientation, nation of origin, and socioeconomic status.
Our goal is to increase diversity, unlocking the potential of every BCGer and client team member. To do so, we invest in people and in the research that reveals which tools, programs, and cultural changes are necessary to deliver sustainable impact.
Organizations that lack diversity will find themselves falling behind in the war for talent. Research shows that more diverse companies benefit from more engaged and ambitious staff, greater innovation, and a better bottom line. Despite these facts, only 5% of CEOs are women, and that number has not meaningfully moved in decades. And while approximately 98% of employees say their company has a gender diversity program in place, only about a quarter feel that they have personally benefited from a diversity intervention.
There is growing governmental pressure on organizations to change this dynamic. In addition, with global media attention through movements such as Me Too, Time’s Up, and worldwide women’s marches, company leaders must address the issue in order to improve recruiting and maintain credibility.
And demographics are shifting. Younger generations have different expectations in terms of culture and working norms, and those companies that are progressive and forward thinking will win the war for talent.
Why do some diversity measures work and others fall short? Many companies strive for increased diversity through a trial-and-error approach, hoping for good results. When efforts fail—as they often do—the results are a waste of resources and often frustrating for employees.
BCG partners with companies to implement proven strategies that can improve diversity and inclusion within an organization. We use data to shatter existing ideas of what works and guide organizations toward the measures that make a meaningful difference:
BCG works with companies across industries and across the globe to understand the fundamental building blocks of improving and accelerating the progress of diversity and inclusion.
Read more about diversity and the strategic value sprintWe have broad experience working with organizations to identify the right metrics and goals so that they can make meaningful change.
Read more about tracking and measuring diversityMaking progress with diversity and inclusion is a journey of cultural change that must go hand in hand with a broader cultural transformation.
Read more about driving diversity through cultural changeWe work with organizations and alongside leadership in order to build the roadmap toward a truly inclusive culture—and drive real change in the way people work every day.
Read more about new ways of workingBCG and BrightHouse, an independent business division of BCG, work with organizations to excavate purpose and then use it to inform decisions, actions to live it, and messaging to spread the word.
Read more about purpose, communications, and brandingManaging Director & Senior Partner
Chicago
Managing Director & Partner
Washington, DC
Global Diversity & Inclusion Director
New York
Project Leader
New York
Managing Director & Partner
London
Managing Director & Partner
London
