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The World Economic Forum launched Partnering for Racial Justice in Business, a global initiative that brings together leading responsible businesses to promote diversity and inclusion among people of all races.

Despite all the advances made in recent years on diversity and inclusion, there is still a long way to go to equality in the workplace. While the media and business focus on the position of under-represented groups such as women and LGBTs, the issue of racial justice – quality for people of all races and ethnic identities – is another important pillar of the diversity and inclusion agenda.

The problem of racial injustice is most evident in boardrooms. According to the World Economic Forum (WEF), less than 5% of executives in Fortune 500 companies are black, while only 1% of these global giants are black CEOs. Below the top level, black employees make up only about 6.7% of the 16.2 million managerial jobs. “The need to combat racial under-representation in companies is urgent and obvious,” said Saadia Zahidi, a director of the World Economic Forum.

This is where the WEF – one of the most renowned and effective corporate networks in the world – comes into play – the “Partnering for Racial Justice in Business” platform. Working with a global coalition of companies and their C-suite executives, the WEF aims to increase awareness of the issue and ensure that companies create fairer and more equitable jobs around the world.

Zahidi said: “To create racially and ethnically equitable workplaces, companies need to address racism on a systemic level, taking into account not only the structural and social mechanisms of their own organizations but also the role they play in their communities and in the economy as a whole . “

The “Partnering for Racial Justice in Business” network was developed to operationalize and coordinate commitments to eradicate racism in the workplace and to set new global standards for racial justice in companies. It also provides companies with a platform where they can work together to bring about inclusive policy change. “

Partner from the consulting industry

A group of 56 companies supported the network as founding members, 17 of which are members of the consulting industry. These are: AlixPartners, Boston Consulting Group, Bain & Company, Capgemini, Cognizant, Dentsu, EY, IBM, Infosys, Jacobs (parent company of PA Consulting), Kearney, KPMG, McKinsey & Company, PwC, Tata Consultancy Services, Willis Towers Watson and Wipro.

Commenting on his support, Kevin Sneader, Global Managing Director of McKinsey & Company, said: “Over a decade of research has shown that racial and ethnic diversity can provide companies with a performance advantage. McKinsey is proud to be a founding member of this new coalition dedicated to tackling racial injustice in the workplace and finding solutions that work around the world. “

Rich Lesser, Boston Consulting Group’s chief executive officer, stated, “We are working with the world’s largest organizations and governments to ensure that racial justice is fully considered, measured, and promoted from this lens. In order to achieve a sustainable impact, a holistic approach is required that takes into account business drivers, social and systemic changes as well as team and cultural factors. ”

Carmine Di Sibio, Global Chairman and Chief Executive Officer of EY, one of the three Big Four companies that co-founded the coalition: “Commitment to inclusivity and social justice is critical in times of change and disruption. At EY, we strive to create a better, fairer world of work where differences are valued and everyone can thrive. Together with the other founding members, we stand against systemic inequalities, discrimination and racism. “

Bob Moritz, Global Chairman of Big Four, PwC, said, “While we cannot control what is happening in the world, we can and should always strive to influence it and change it for the better. This is the basic premise of our goal. Within PwC and the communities in which we live and work, we advocate an environment that stands for inclusion and equality and enables people from different backgrounds to achieve success. “

Aiman ​​Ezzat, Chief Executive Officer of 265,000 Capgemini, said, “Diversity and equality are a non-negotiable cornerstone of our workplace and, beyond that, of the communities in which we live. As a global leader, we recognize that we have the power and the platform to take meaningful action everywhere in the struggle for racial justice, and that it is our responsibility to do so. With the conviction that we are stronger together on the path to racial justice in business, Capgemini is proud to be a founding member of this initiative. “

Alex Liu, Kearney’s chief executive officer, stated, “Racial injustice is a human problem. Struggling against this requires more than personal commitment to change and a decisive shift from intention to action. Business leaders need to be authentically dedicated stewards to drive progress for the next generation and achieve fundamental results in terms of belonging, joy, and equity in the workplace. “

“We have to be actively anti-racist in every form, be it micro-attacks, discrimination, segregation, conscious bias or blind spots. While all people want to be safe and seen and supported, we have to go further and actually inspire. Lead by example and persistence. Kearney is committed to partnering for racial justice in business. “

Steve Demetriou, Chairman and Chief Executive Officer of Jacobs – the parent company of management consultancy PA Consulting – commented, “Jacobs is delighted that this network unites efforts to increase the representation of racially and ethnically diverse executives in our industry – and through their partnership . Help lead the charges against racism and inequality that exist in the larger communities we serve. “

Finally, Wendy Clark, Global Director of Dentsu International said, “We are committed to reducing racism in the workplace and being a catalyst for change in our industry and society by working with our customers, industry networks and major advocacy organizations like The Forum to ensure that beyond this catalytic moment we bring about sustained changes and reforms to social justice. “