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Forbes Topline

Corporate Governance VP Shares Concerns Over Current DEI Regressions

Forbes Topline

Forbes

Business News, News, Entrepreneurship, Business

4.86 Ratings

🗓️ 7 February 2024

⏱️ 18 minutes

🧾️ Download transcript

Summary

Maureen O'Brien joins 'Forbes Talks' with Ali Jackson-Jolley to discuss DEI issues and Women reaching their full potential in the corporate world. Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes: http://forbes.com Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hi, I'm Ali Jackson Jolly. I am here with Maureen O'Brien. She is the senior vice president of corporate governance with Siegel Marco Advisors. Maureen welcome.

0:15.0

Hi Ali, thanks for having me.

0:18.0

I'm excited to have you here.

0:20.0

I recently saw there was a survey done by your firm that talked about trends with respect

0:28.0

to investment in DEOI and sustainability.

0:33.4

And it went something like this.

0:36.4

In 2021 to 2022, following the year we had

0:42.0

in which George Floyd was murdered and the COVID pandemic, which took its toll on historically marginalized populations.

0:52.0

Investment firms started upping their investment in

0:55.0

DEI. So in 2021 and 2022 those investments increased, but last year a lot of those gains were lost at the same time

1:05.4

Investment in sustainability has continued to increase. Can you tell me about that study and what you think it's important for us to know?

1:17.0

Yeah, thanks for asking. So we do this study every year and we don't look at what companies are saying about

1:26.1

DEI but rather we ask for the actual data on the demographics and so we take all of that data

1:34.8

and we look at what the summary results are.

1:38.1

And what we showed for 2023

1:40.9

is that as a population of the workforce women had fewer roles and fewer roles in the

1:48.8

C-suite and we saw the same trend particularly with black employees.

1:54.3

There was a 50% drop in the representation of black employees in the C-suite in particular,

2:00.6

and then a 4% drop in the workforce overall.

2:04.0

So it looked like a lot of the gains that we saw,

2:08.0

to your point, in the aftermath of George Floyd

2:11.0

and the Black Lives Matter movement, A lot of those gains that we saw

...

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