The events of 2020 have turned workplaces upside down. Under the highly challenging circumstances of the Covid-19 crisis, many employees are struggling to do their jobs. Many feel like they’re “always on” now that the boundaries between work and home have blurred. They’re worried about their family’s health and finances. Burnout is a real issue
Whether by necessity or ingenuity, minority owned small businesses may be giving us an early sign of how US businesses will adapt in the wake of COVID-19.
Each year, Guidant reaches out to the resilient, hardworking small business owners of America. We learn who they are, what their lives as small business owners are like, what their plans for the future are, and how their business has weathered current affairs. Together, this information makes up the Small Business Trends report.
In 2017 a group of leaders and opinion formers across hospitality, travel and leisure decided to take action to accelerate progress towards an inclusive culture within our industry and seize the opportunity to come together as an industry to amplify the
impact of individual initiatives. We want as many companies as possible to sign up to The Diversity in Hospitality, Travel and Leisure Charter and actively contribute to making a difference in this area.
NCRC, in collaboration with our academic partners, conducted 60 pre-application mystery shopper tests by telephone with 47 different financial institutions in the Los Angeles, California, metropolitan statistical area (MSA) from July 27 to August 7, 2020, during the last two weeks that federal Paycheck Protection Program (PPP) loans were available to businesses impacted by the coronavirus pandemic. This study was to determine if financial institutions changed their behaviors after being made aware of our previous testing conducted in the Washington, D.C., MSA. The results of that testing were widely reported by the media, including The New York Times, Politico, The Hill and ABC News. The follow-up tests in Los Angeles revealed a combined 21 out of 60 (35%) tests where the White tester was favored over either or both of the Black and Hispanic Testers in violation of the Equal Credit Opportunity Act (ECOA) of 1974. For this round of testing, we conducted 60 multi-layered matched tests which consisted of a Hispanic, Black and White tester each contacting the same financial institution to request information. Thirty of these multi-layered matched tests were conducted by female testers and thirty by male testers. We tested 60 branches from 47 different financial institutions including some national institutions that we had tested in Washington, D.C., during the first round.
This study examines the extent to which discrimination and harassment contribute to gendered health disparities.
This year’s report highlights the growing urgency for action. Without the equal inclusion of half of the world’s talent, we will not be able to deliver on the promise of the Fourth Industrial Revolution for all of society, grow our economies for greater shared prosperity or achieve the UN Sustainable Development Goals. At the present rate of change, it will take nearly a century to achieve parity, a timeline we simply cannot accept in today’s globalized world, especially among younger generations who hold increasingly progressive views of gender equality.
Our latest research reinforces the link between diversity and company financial performance—and suggests how organizations can craft better inclusion strategies for a competitive edge.
The financial services industry is finally making progress on gender balance in the workforce. Mindsets are shifting and, as a result of hard work and commitment, progress is beginning to be reflected in the numbers.