Tomorrow's Capitalist by Alan Murray

Tomorrow's Capitalist by Alan Murray

Author:Alan Murray [Murray, Alan]
Language: eng
Format: epub
Publisher: PublicAffairs
Published: 2022-05-10T00:00:00+00:00


MEASURING UP

“What gets measured gets managed.” That’s a well-known management aphorism that was behind an innovative partnership between Fortune and data company Refinitiv to pair metrics with ideals when it comes to diversity and inclusion. Without strong accountability metrics, companies often have difficulty holding to their commitments. Fortune’s Measure Up Initiative, powered by Refinitiv’s environmental, social, and corporate governance (ESG) data capabilities, is designed to help businesses improve their diversity and inclusion numbers by making them public. Companies are invited to self-report their data, and Fortune and Refinitiv support this call to action by providing executives with data-driven insights and in-depth conversations on key topics such as inclusive leadership, corporate anti-racism, and the racial wealth gap. Measure Up helps corporate senior leaders set transparent goals around inclusion, share tactics and strategies, and work collectively to deliver measurable returns to a broader set of stakeholders.

Refinitiv CEO David Craig said of the partnership, “I believe the corporate world overwhelmingly wants to see change and understands how vital diversity is in building successful and sustainable companies. However, efforts to tackle minority under-representation in the workplace will fall flat unless companies first have an accurate picture of their racial composition. As one of the world’s biggest providers of ESG data, we are encouraging companies to share minority-related measures of their workforce with the world—just as they already do with gender. By teaming up with Fortune to create Measure Up, harnessing their unique link with the CEO community, I’m more hopeful than ever that the corporate world can fulfill its promises and respond to the cries for change that have only grown louder in the wake of the murder of George Floyd.”14

Simultaneous with our effort, Tim Ryan, chairman of PwC US, the audit and assurance, consulting, and tax service firm, published a blog post describing his company’s decision to release its diversity data. As he told our group, “We wanted the self-imposed pressure to do better.”15 Ryan’s blog is an example of a deep reflection at the corporate level, which doesn’t try to minimize the difficulties or present a rosy scenario. It’s the kind of bold truth-telling that’s a beacon for other companies who are intent on improving their diversity profiles.



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