releases: https://beatty.house.gov/media-center/news-articles/companies-start-responding-to-pressure-to-bolster-minority-0
Data license: MIT · Data source: dwillis/congress-press
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| https://beatty.house.gov/media-center/news-articles/companies-start-responding-to-pressure-to-bolster-minority-0 | Companies start responding to pressure to bolster minority representation | 2020-10-30 | 2020 | 2020-10 | Democrat | Senate | OH | Joyce Beatty | B001281 | beatty.house.gov | legacy | Companies are beginning to respond to the pressure to promote diversity and integration following this summer's nationwide protests against racial injustice. Major corporate groups and household names such as Starbucks have recently announced plans to increase their efforts in the coming years. Starbucks, one of the largest private employers in the U.S., said last week that it is aiming for 30 percent minority representation at all levels of the company by 2025. The top employer in the U.S., Walmart, is taking similar steps along with other industry leaders. Walmart CEO Doug McMillion, who is also Chairman of the Business Roundtable, announced last week new corporate initiatives and public policy recommendations to promote equity. It's our employees, customers and communities that are calling for change, and we're listening and most importantly we're taking action, he said in a statement. The plan of the company and its more than 200 CEOs, including Jamie Dimon of JPMorgan Chase and Arne Sorenson of Marriott, also includes expanding its collaboration with historically black colleges and universities and supporting companies owned by black entrepreneurs. Companies that have already taken action include Sony Music Group, which recently appointed a new Chief Diversity and Inclusion Officer. Nike appointed a new chief diversity officer, while Intel said it would double the number of women and underrepresented minorities in senior management positions by 2030. The actions of U.S. corporations are under scrutiny, not only by activists but also by Congress. House Financial Services Committee Chair Maxine Waters (D-Calif.) described the statements of Wells Fargo CEO Charles Scharf about the recruitment of black leaders as highly inaccurate after he said in September that there was a limited pool of black talent from which to recruit a statement he has since apologized for. But Waters also praised and commended Citigroup for appointing Jane Fraser as its next CEO. She will be the first female CEO of a major bank on Wall Street. As the first woman and the first African-American to chair the Financial Services Committee, I know only too well that there are many women, colored people, and other underrepresented groups qualified to fill positions at all levels of the financial services industry that are often overlooked and ignored, Waters said in a statement. When Waters took over the committee, she established the Subcommittee on Diversity and Inclusion, chaired by D-Ohio Congresswoman Joyce Beatty. It is undeniable that diversity and inclusion are key drivers of productivity and innovation for businesses and our economy. The work of the House Financial Services Subcommittee on Diversity and Inclusion is therefore a crucial bridge to the workforce and economy of tomorrow, Beatty said in a statement. Beatty said her work includes pressuring financial institutions to hire diversity officers, developing business diversity plans, finding asset managers for minorities and women, and ensuring greater transparency and accountability. While the business community has traditionally been seen as aligned with Republicans, this relationship recently suffered a rift after President Trump extended his government's ban on providing training on racial and gender discrimination to federal contractors by executive order last month. The U.S. Chamber of Commerce, which includes more than 150 state and local chambers, trade associations and nonprofit organizations, wrote a letter to Trump on Thursday asking him to withdraw the order. The American Hospital Association also wrote to Trump, asking him to rescind the injunction because it would effectively undo decades of progress in combating racial inequality. The decree prohibits the doctrine of divisive concepts, including the idea that one race or gender is superior, that the United States is fundamentally racist or sexist, that any person should feel discomfort, guilt, fear, or physiological suffering because of his or her race or gender, or that a person bears responsibility for past actions of other persons of the same race or gender. Beatty said it was unscrupulous not to respond to Trump's command. In this way, we have made the administration aware that diversity and inclusion training is an integral tool for building mutual respect and understanding. They are fully aware that I am against this order and I call on all parties to reject these efforts, she said. The corporate world is also questioning its own efforts to cultivate diversity and inclusion. Glassdoor, a website where current and former employees can anonymously rate companies, recently introduced a Diversity & Inclusion Rating. Technology company Salesforce had the highest rating for diversity and inclusion, with 4.6 out of 12 companies with an initial rating, while Walmart had the lowest rating, with 3.7. This article was originally published by The Washington Newsday on October 30, 2020. | 1 | 2026-03-30T12:14:52Z | 2026-03-30T12:14:52Z |