Wall Street Project Economic Summit

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  • Magazine

The Hot List

Making their mark on sectors ranging from finance and medicine to media and entertainment, this year’s roster of black enterprise Hot List honorees are young, audacious change agents. Some have...

  • Magazine

Staying Focused on Best Practices

As massive job cuts have forced many companies to reorganize and reprioritize spending, the diversity budget is taking its share of hits across industries. Nearly half of the 452 respondents to a recent Society for Human Resource Management poll said their discretionary HR spending had decreased in the past year, and 39% said they had cut spending on training unrelated to the core business, including anti-harassment and diversity training. Ten percent of respondents said they had reduced spending on initiatives that targeted diversity recruitment, and 12% predicted that diversity-related recruitment efforts would be cut. “If diversity truly is a key strategic objective of a corporation, then it should be treated like any other key strategic initiative of the corporation,” says Joe Watson, CEO of StrategicHire, an executive search firm in Reston, Virginia, and author of Without Excuses: Unleash the Power of Diversity to Build Your Business (St. Martin’s Press; $24.95). “That is a test in many ways to show whether a company’s rhetoric matches its reality.” We’ve looked at two companies that are working to continue efforts to make diversity a business imperative to grow their bottom lines.

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