Finance

74% Of Black Executives Say Hiring Practices Have Improved Since George Floyd’s Murder, Survey Finds

06/20/2023
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Topline

A vast majority of Black executives agree that working conditions have improved since the murder of George Floyd and the social justice movement that followed it in 2020, a CNBC survey released Monday found, but they also said there’s still a need for greater attention to diversity issues in the workplace.

Key Facts

Approximately 74% of Black executives said they saw a positive change in hiring, retention and promotion of Black employees since Floyd was killed.

While 80% of respondents said their companies provided more support and attention to employee resource groups after the summer of 2020, the survey also found a desire for greater attention to diversity issues in the workplace.

Less than half of Black executives—48%—said treatment of Black employees has improved since Floyd was murdered, while 43% said it’s remained the same and 9% said it has worsened.

Representation of Black executives on senior leadership teams increased 41% since 2020, but still nearly one-quarter of respondents felt those leaders were not equitably compensated for their work, according to the survey.

While some 25% of respondents said there is equal representation in management, nearly two-thirds of respondents said Black employees were underrepresented in upper management and more than 20% of respondents said there was no Black representation in leadership at all at their respective organizations.

An undisclosed number of organizations participated in the survey, which CNBC conducted in partnership with the Executive Leadership Council, though CNBC specified that 60% of respondents were in the C-suite or at the executive vice president level of their organization.

Big Number

88%. That’s the percentage of respondents who said their companies made a commitment to diversity, equity and inclusion in 2020 after Floyd’s murder, with that commitment also being reflected at the executive level, according to the survey.

Surprising Fact

Almost one-third of survey respondents said they have left organizations since 2020. Many respondents cited the level of commitment—or lack thereof—by their employers to diversity, equity and inclusion as a factor in their departure.

Key Background

The murder of Floyd was captured on camera and quickly spread through social and traditional media, prompting widespread outrage. The footage—which showed a police officer forcing Floyd to the ground and kneeling on his back and neck for more than nine minutes as he pleaded for help—sparked national and worldwide protests over police brutality and racial discrimination. Floyd’s death led to a historic racial reckoning across aspects of American life, especially the workplace.

Further Reading

Black Executives See Progress Since George Floyd, But Much Work Still To Be Done: CNBC Survey (CNBC)

Source: https://www.forbes.com/sites/anafaguy/2023/06/19/74-of-black-executives-say-hiring-practices-have-improved-since-george-floyds-murder-survey-finds/