In June 2020, in the wake of the murder of George Floyd and the dynamics it set on fire across the nation, McKinsey announced 10 actions – a commitment to racial equality and justice.
Over the past two years, more than 400 colleagues across the company have spent countless hours and hard work translating our commitments into fully functioning operations, programs and partnerships with measurable results. brought. Let’s take a look at the progress of 3 of those 10 actions. We still have a lot to do and we are not where we want to be yet, but these examples highlight the progress we have made in the communities where we work and live. increase.
10,000+ black leaders trained
In the fall of 2020, we launched the Black Leadership Academy, building on decades of experience developing leaders internally and for our clients. “We have designed two major programs to advance the careers of black professionals. One for early to mid-career his manager and another for C-suite senior management to prepare him,” recalls practice manager Sacha Yabili. “I didn’t know what the demand was. “
In three months, 10,000 participants from 300 North American organizations enrolled.
Black Leadership Conference
Through topics such as the power of storytelling, the power of crisis leadership, business fundamentals, and effective sponsorship and mentorship, participants will gain the skills, mindsets and networks to achieve their aspirations. .
“The program is pure gold. It’s the first time in my 25-year career that I’ve been in the same room or Zoom with people who look like me and think like me,” said one participant. “You don’t have to leave your identity at the door.”
Building on this early success, in 2021 we are launching the Connected Leaders Academy for Asian, Hispanic and Latinx leaders, as well as Black leaders based in Europe, the Middle East and Africa. To date, he has over 40,000 participants from over 900 organizations and 15 industries.
Development of practical research
“After George Floyd was murdered, many companies asked McKinsey about our views on racial equality and inclusive growth,” recalls partner Duwayne Pinder. “While we had our first report on the racial wealth gap, it was clear that organizations needed more insight and support to take action. Founded the McKinsey Institute for Black Economy Migration.”
Our team of 50 experts and analysts has conducted research on more than 20 topics to date, helping to shape perceptions, quantify opportunities and inform initiatives. “For example, we have published a series of papers on how businesses can serve Black consumers. We found that Black consumers want a whole set of actions from companies, not just one or two product lines: they want companies to be more involved in their operations, supply chains, recruitment, and philanthropy. We want to know how we are diversifying the
The team recently published a report on the state of racial equality in higher education from 2013 to today. “Despite the talk that things are improving, they are not, and it shows that there is still a long way to go,” he said. Additionally, insights are translated into actionable tools such as CityX. CityX measures racial equity with respect to neighborhood resources.
Accelerating Nonprofit Impact
In 2020, McKinsey committed $200 million in pro bono work to organizations that promote racial equality over the next 10 years. We have worked with over 20 of her partner organizations, launched over 25 projects, and have engaged over 230 of her colleagues to date. Here are some examples:
Juntos
Connecting in Juntos Meetings
Brazil has one of the largest black populations in the world. 56% identify as black, but only 5% hold managerial positions. “We wanted to help young black students progress from college to work,” explains his partner Vijay Gosula. “We have created an annual conference called ‘Juntos’, which means ‘together’ in Portuguese. Both live and virtual, so far he has had around 4,000 people attend his four events. As one attendee recalled: I have connections with several companies and today he is happy to work for one of them. Juntos was my starting point. “
homeboy industries
Founded 30 years ago in the heart of Los Angeles, Homeboy Industries is the world’s largest gang intervention and rehabilitation program. We provide clinical care, education and development programs to more than 8,000 people each year.
But Homeboy is more than that program. “Our model here is family…it’s kinship,” explained one participant. “This is what Homeboy wanted to reflect in its communication, programming and talent development model, which is designed to encompass everyone from senior leaders to the clients who walked in the door yesterday.” explains his associate partner Rebecca de Sa. Engagement Manager Kyle Nelson, Associate Her Partner Bonnie Dowling, and Partner Brian Hancock worked with the organization.
Over the past two years, we’ve been working with Homeboy to create a social enterprise roadmap and strengthen the workforce pipeline.
Greater Washington Partnership
With 45 of the largest companies in the metropolitan area, our supply chain network of partnerships is vast and offers the potential to help grow local Black, Hispanic and Latinx SMBs.
A small team led by Associate Partner Danielle Hinton, Partners Fiyinfolu Oladiran, and Senior Partners Nora Gardner and Scott Rutherford, explored the SMB landscape to understand how it could fit into existing supply chains. interviewed companies and told big companies about their business. The challenge of diversifying the supplier base.
As a result, the Greater Washington Partnership secured $2.6 billion in diversified procurement commitments from Board member organizations as part of a broader $4.7 billion commitment over five years. We then created a marketplace for sharing data and best practices. We conceptualized a technical assistance approach for small suppliers.
“A strong motivation came when we presented a ‘case of change’ in the local economy. CEOs asked each other, ‘How can we do more,'” he recalls Fiyinfolu.