America — and American business — is undergoing much-needed soul searching about race and equity in the workplace. Corporations across America are affirming their commitments to diversity.
To Build a Diverse Company for the Long Term, Develop Junior Talent
Most companies overlook their greatest potential asset in creating a more diverse workplace: their own employees.
April 12, 2021
Summary.
Developing diverse talent from within sounds like a heavy lift. But most people build careers step by step, skill by skill. By understanding how the skills of two jobs overlap or are proximate to one another, companies can create targeted training to support employees in bridging the skills and diversity gaps. For example, Census data shows that 27% of compensation analysts are African American, Hispanic, or Native American as compared to 15% of financial analysts, despite many overlapping skills. Training compensation analysts in budgeting and financial reporting would help them make that jump, not only building equity for the company but also offering real returns to workers, to the tune of a $31,000 a year pay hike.
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Diversity, Inclusion, and Belonging Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Diversity, Inclusion, and Belonging. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
How to build a better, more just workplace.
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New!
HBR Learning
Diversity, Inclusion, and Belonging Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Diversity, Inclusion, and Belonging. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
How to build a better, more just workplace.