359
© 2022 Fairygodboss. All rights reserved.
Make 'diverse' law - internally if not legally?
This isn't news. Is it?
I'm referring to Goldman Sachs' 'diverse' mantra.
A mere marketing ploy perhaps?
The CEO stated it will only take companies public if they have at least 1 'diverse' member on the board of directors.
It's already viewed as unacceptable to IPO without a 'diverse' board.
Perhaps Goldman Sachs believes this will beget a winning streak, as it has been underperforming.
According to the Economist, a dollar invested in Goldman in 2010 would be worth $1.60 today. A dollar wagered on the s&p 500 would be worth $3.60 if invested in S&P 500, $4.10 for JPMorgan Chase.
What do you think: do we make it 'law' - ok, internal policy - to only deal with companies that are diverse?
ShellyBPassionate about equality for all at work!
607
02/01/20 at 3:31AM UTC
Back in the day, I interviewed with 12 white men at GS without an offer- so not a huge fan. BUT- you are correct that they are 'underperforming' and are probably looking to figure out what other firms have done to excel. There are so many case studies (PWC) showing that more gender diverse companies post better stock prices. With investors asking the question about diversity, I think GS did not have a choice. Bloomberg just published study that even hedge funds run by "non white males" far surpassed in performance. Lets just hope that an old white guy with a cane does not constitute "diverse"....
NimaKeeping you Seen.Heard.Empowered.
359
02/01/20 at 9:25AM UTC
Thank you for sharing ShellyB. And yes, you are soooo right.
Alicia PiconeSocial Justice Advocate, Student, Mom
781
01/31/20 at 3:07PM UTC
Goldman-Sach's disgusting version of the "one-drop" rule.
One non-white person does not a diverse board make.
Anonymous
01/31/20 at 12:45PM UTC
I roll my eyes at this type of thing as I see it as nothing but stomping their feet to get attention. One 'diverse' board member will not make a difference. The real issue is that they have not bothered to build up a diverse workforce. Until they take their blinders off and recognize that they need to build the entire workforce to be diverse nothing will change.
NimaKeeping you Seen.Heard.Empowered.
359
01/31/20 at 4:58PM UTC
And build it from the bottom up! Meaning: please don't tell me you're focusing on ONE woman at the top - when there's a cliff for the many around middle management.
© 2022 Fairygodboss. All rights reserved.