Bloomberg Radio: Matthew Roling on U.S. company efforts to become more diverse
After decades of failed diversity pledges and good-faith promises to hire more minorities, U.S. companies are taking a more aggressive approach. For the first time, some of the biggest corporations are setting concrete racial quotas. As many as a half-dozen companies have said they’ve adopted workforce quotas in recent months. These include Wells Fargo & Co., the nation’s third-biggest bank, which said it will increase Black leadership to 12%. The bank last week settled federal allegations of hiring bias. Meanwhile, fashion house Ralph Lauren Corp. said it aims to make 20% of its global leaders people of color, including Black, Asian and Latino workers. Delta Air Lines Inc., where 7% of the top 100 in the organization are Black, will double the percentage of Black officers and directors by 2025 “These types of quotas, although may be viewed by some as unpopular, I think they’re really necessary to give teeth to diversity, equity and inclusion initiatives in corporate America as we move forward,” said Matt Roling, executive director of the Office of Business Innovation at Wayne State University and Mike Ilitch School of Business part-time faculty.
