Coronavirus: Workplace Diversity Part Two

Jill on Money with Jill Schlesinger

Audacy

Self-improvement, Business, Investing, Education

4.6 • 1.8K Ratings

🗓️ 2 August 2020

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

If the pandemic has acted as an accelerant to business trends, it has also become an accelerant to inequality. Last year, before the onset of coronavirus, the Census Bureau found income inequality was at its highest level in 50 years, with two-thirds of the total wealth in the country owned by the richest 5-percent. Meanwhile, 4 out of 10 American adults said they would have difficulty covering a $400 unexpected expense, more than 38 million Americans are living in poverty, and more than 14 million children went hungry last month. When discussing these facts and figures, it is important to remember that there are people behind the numbers. To do a deeper dive with us on this topic, we're joined by Dane Holmes, co-founder and CEO at Eskalera, a diversely founded company, committed to providing employees and managers with the knowledge and skills to build a more inclusive culture and helping organizations drive systemic and sustainable change. Have a money question? Email me here. Please leave us a rating or review in Apple Podcasts. "Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Transcript

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0:00.0	Welcome to the Jill on Money Coronavirus Market Update. It is Sunday August 2nd and today
0:09.9	we present to you the second part of my interview with Dane Holmes. He worked in
0:15.4	HR, sort of chief people person at Goldman Sachs for many years. He has just
0:20.2	started a new company. It's called Escalera and they are trying to improve
0:25.6	diversity and inclusion with all sorts of data points and also with a
0:30.8	consultive services. In this part of my interview with Dane,
0:35.9	we're really going to focus on gender and racial pay inequality. I know this impacts many of you so take a listen. Here's the
0:46.3	rest of our interview with Dane Holmes. I interviewed the folks over at Salesforce
0:51.0	in a live event and I was really taken with the idea that they had gone through and done a deep dive into what was going on at the organization in terms of pay and it was about
1:06.7	gender pay equality and racial pay equality. You know I think Bennyoff was
1:12.4	really the CEO was really shocked when he found out that there was a huge disparity.
1:18.0	And so what they did was they wrote six million dollars worth of checks to make it right.
1:23.8	Is that an effective way to, on and on maybe every year
1:27.9	to go through and say like, did we mess this up?
1:30.4	Is that an effective way to manage the pay gaps that exist?
1:35.0	Yeah, I think so.
1:36.0	And I think, you know, the biggest thing I'll say is that there's no one silver bullet.
1:39.4	And I think that is certainly part of the solution.
1:41.9	Once again, when you're dealing with a systemic issue,
1:44.8	you know, there's challenges on all sides. I think that's a very important one. Another one though that I think is really
1:51.1	important, which is a harder one, you know, you have to have a multi-year strategy for is taking
1:56.9	a look at what are the highest paying jobs in your organization and see if they are
	...

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