The WK Kellogg Foundation (WKKF) has announced a new programme to advance racial equity in the corporate sector.
Entitled the Expanding Equity, the programme aims to transform corporate workplaces into more equitable places of opportunity, said WKKF. The transformational programme builds on its “decades-long efforts to advance racial equity internally and in communities”, to now help advance it in companies. It offers the tools, knowledge and human-centred approaches for cultivating workplaces that attract, develop, retain and promote diverse talent. In turn this will deliver benefits to the company’s employees and the bottom line.
The programme was piloted in 2020 with an inaugural cohort of five financial services firms with more than $300 billion assets under management. All five firms said they would recommend it to other firms because they felt better equipped to build their company’s racial equity programme thanks to the initiative.
“Right now, many companies have the desire to expand racial equity, diversity and inclusion efforts. But they are wondering how to take action within their organisations,” stated La June Montgomery Tabron, WKKF President and CEO. “The Kellogg Foundation has been on our own journey in this work. We have experience and expertise to share with the corporate sector and recognise this is the time to offer it more directly. Doing so can drive better results for companies and create a more just economy where all families can thrive.”
ACTION FOR RACIAL EQUALITY AT WORK
“Among the things I find most encouraging about our inaugural cohort is that they aren’t just talking about racial equity. They are taking action. That’s what this work is about,” added Tabron.
The nine-month programme offers a supportive learning environment, with access to coaching and data needed to measure and advance racial equity in firms. It includes:
- Tools, coaching and nationally recognised expertise in racial equity and racial healing from Kellogg Foundation staff.
- A Racial Equity Mini-Diagnostic that offers confidential baseline information to inform leadership and employee development, engagement and retention strategies.
- Four dynamic cohort workshops that support peer learning and problem solving. This includes tangible plans and steps to pilot racial equity initiatives.
- Specialised leadership programming for leaders and employees.
SOLID BUSINESS CASE
“Participating in Expanding Equity makes solid business sense,” commented Carlos Rangel, WKKF’s Director of Investments and the architect for the Expanding Equity programme. “Companies who prioritise diversity are 35% more likely to have above average financial returns. And, with people of colour becoming more than half of the US workforce by 2050, forward-thinking companies are taking action to ensure employees of all backgrounds can belong, contribute and experience wellbeing in their workplaces.”
The Kellogg Foundation is actively recruiting companies for 2021 and 2022 cohorts across all industry sectors. Costs for participating in the programme, except for travel, are covered by the foundation. However, participation consists of virtual sessions for the foreseeable future due to Covid-19, confirmed the foundation.
Visit the website for more information.
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