CEO Action for Diversity & Inclusion elevates need for Accountability

CEO ACTION FOR DIVERSITY & INCLUSION ELEVATES NEED FOR ACCOUNTABILITY THROUGH NEW PLEDGE COMMITMENT TO ENGAGE BOARD OF DIRECTORS

NEW YORK, JUNE 12, 2019 – CEO Action for Diversity & Inclusion™ (CEO Action) marked its second anniversary with the addition of a fourth pledge commitment to engage boards of directors (or equivalent governing bodies) in the development and evaluation of inclusion and diversity strategies. The new commitment is designed to further CEO Action signatories’ ability to engage in common, consistent actions across the business community to accelerate sharing, accountability and impact.

“We are building on the pledge’s foundational elements with the concrete action for boards and CEOs to work together to advance talent strategies that not only drive business outcomes, but reinforce why inclusive workplaces are critical to achieving those goals,” said Tim Ryan, US Chair and Senior Partner of PwC and Chair of the steering committee for the CEO Action for Diversity & Inclusion™. “The more we can elevate issues like inclusion and diversity as key business issues with visible involvement from executive leadership at the top of every organization, the more opportunity we have to drive accountability and progress.”

As the ability to attract and develop talent continues to become an increasingly critical business imperative, research demonstrates that boards and CEOs need to work together to prioritize and drive accountability on cultivating talent and inclusive work cultures. A new report details the strong demand from investors and stakeholders for organizations to develop people with the skills to help companies grow and innovate. Understanding this along with other dynamics, including an evolving policy landscape, that reinforce how diversity in the workforce leads to greater performance is why CEO Action is focusing on the importance of boards having an active role in how organizations are driving change in creating more inclusive workplaces.

Similar to existing pledge commitments, CEO Action signatories will have the flexibility to tailor their plans and board engagement to the size, scale and needs of their individual organizations. Recognizing that signatories are at different stages of diversity and inclusion progress, CEO Action will reinforce the principle of shared learning and create forums for candid conversations around how to elevate this conversation to boards through concrete, strategic action plans, which will also help accelerate CEO Action’s first three commitments.

CEO Action is built on the fundamental idea that leaders can and must be champions of change. As the coalition continues to create collective opportunities to address today’s diversity and inclusion challenges, this new commitment to engage boards is another step toward that goal. This fall, the CEO signatories will convene for their annual CEO Closed-Door Session to focus on how to actively engage boards in talent strategies for multiple levels of an organization.