After the nationwide racial reckoning brought along by George Floyd's murder in the summer of 2020, companies have made efforts to commit to racial justice within their firms. More of these companies are sharing diversity data than before, Bloomberg reported Oct. 21.
In a Bloomberg survey of S&P 100 companies, 76 organizations provided an equal employment opportunity form, the mandatory form used by the Equal Employment Opportunity Commission to collect demographic data. Ten more companies promised to give Bloomberg the forms soon. This is up from only 25 companies that provided the information in October 2020.
In total, the companies included in the survey committed at least $3.9 billion to help improve the conditions of Black Americans on top of the $8 billion pledged in summer 2020. They have also redirected some hiring efforts, looking for talent in historically Black colleges and universities. Almost all companies surveyed have a chief diversity and inclusion officer, too.
The more data companies provide, the easier it becomes to measure progress and results. Most corporate organizations do not resemble the U.S. population, with women and people of color still being underrepresented. Transparency allows investors, the public and activists to hold companies accountable.