WEBVTT 1 00:00:00.480 --> 00:00:03.260 Hello from incredibly snowy New York. 2 00:00:03.260 --> 00:00:05.540 For this month's Two Minutes on Tuesday, 3 00:00:05.540 --> 00:00:08.630 I'd like to talk about how we can make meaningful progress 4 00:00:08.630 --> 00:00:10.930 on diversity, equity, and inclusion 5 00:00:10.930 --> 00:00:13.600 and why it's so important right now. 6 00:00:13.600 --> 00:00:15.150 This might feel like a difficult item 7 00:00:15.150 --> 00:00:17.240 to keep at the top of the agenda 8 00:00:17.240 --> 00:00:21.060 when leaders are juggling so many other complex challenges, 9 00:00:21.060 --> 00:00:24.920 but in fact, in times of crisis and great uncertainty, 10 00:00:24.920 --> 00:00:26.870 it's more important than ever 11 00:00:26.870 --> 00:00:29.590 that our workplaces foster a range of backgrounds 12 00:00:29.590 --> 00:00:32.120 and perspectives and ideas. 13 00:00:32.120 --> 00:00:35.330 Diverse, equitable, and inclusive environments translate 14 00:00:35.330 --> 00:00:39.150 to more resilient organizations, allowing us to find our way 15 00:00:39.150 --> 00:00:41.850 through difficult times more effectively 16 00:00:41.850 --> 00:00:44.490 and perform better longer term. 17 00:00:44.490 --> 00:00:47.730 It's also what more and more stakeholders are demanding. 18 00:00:47.730 --> 00:00:50.420 Customers, suppliers, investors, employees, 19 00:00:50.420 --> 00:00:53.490 and recruits have raised their expectations, 20 00:00:53.490 --> 00:00:56.040 insisting on more equitable workplaces 21 00:00:56.040 --> 00:00:58.500 and for corporate accountability. 22 00:00:58.500 --> 00:01:01.650 In other words, now would be the worst time to step back 23 00:01:01.650 --> 00:01:04.810 from diversity, equity, and inclusion efforts. 24 00:01:04.810 --> 00:01:07.140 So how can we make real progress? 25 00:01:07.140 --> 00:01:09.420 Here are four measures from all our research 26 00:01:09.420 --> 00:01:11.240 that actually work. 27 00:01:11.240 --> 00:01:14.600 First, embed diversity, equity, and inclusion strategies 28 00:01:14.600 --> 00:01:17.330 in the leadership agenda, and keep it there 29 00:01:17.330 --> 00:01:19.690 in good times and bad. 30 00:01:19.690 --> 00:01:22.690 Second, make sure that any workforce reductions, 31 00:01:22.690 --> 00:01:26.340 whether voluntary or not, do not unfairly impact women 32 00:01:26.340 --> 00:01:27.603 and people of color. 33 00:01:28.440 --> 00:01:31.360 Third, when it comes to recruitment and advancement, 34 00:01:31.360 --> 00:01:35.070 use diverse hiring panels, blind candidate screening, 35 00:01:35.070 --> 00:01:38.680 and objectively quantified performance evaluations. 36 00:01:38.680 --> 00:01:41.060 And fourth, in times of crisis, 37 00:01:41.060 --> 00:01:43.670 it's particularly important to keep track of 38 00:01:43.670 --> 00:01:45.200 and reward progress 39 00:01:45.200 --> 00:01:48.460 in order to hold leadership teams accountable. 40 00:01:48.460 --> 00:01:51.340 Attention to this issue is not a distraction 41 00:01:51.340 --> 00:01:53.530 from today's urgent challenges. 42 00:01:53.530 --> 00:01:56.810 It needs to be a central part of the solution. 43 00:01:56.810 --> 00:01:59.390 I hope you'll check back every Tuesday this month 44 00:01:59.390 --> 00:02:03.110 to hear from other BCG leaders on this important topic. 45 00:02:03.110 --> 00:02:03.943 Thanks.