Robust Diversity, Equity, and Inclusion — A View from Capitol Hill

Invariant’s Dialogue for Change

While efforts to improve corporate diversity, equity, and inclusion (DEI) are not new, the growing movement for racial justice in America brings new urgency to the work of repairing systemic inequality pervasive in our public and private institutions. In Congress, House and Senate leaders are examining the exclusion of minorities from the boards of directors, senior management, and workforces of financial and other institutions as well as their own hiring practices on Capitol Hill. How is Congress using its oversight authority to accelerate corporate diversity, equity, and inclusion? What should companies be doing to show policymakers how their DEI work is progressing?

Senior congressional staff members joined Invariant for a panel discussion about their work on the need for corporations to have intentionality and accountability for DEI goals as well as their internal efforts to diversify the Capitol Hill workforce. “Robust Diversity, Equity, & Inclusion — A View from Capitol Hill” was moderated by Invariant’s Carolyn Coda with Erica Miles from the House Financial Services Committee, Joseph Vaughan from the House Financial Services Subcommittee on Diversity and Inclusion, and Will Reese from the Senate Diversity Initiative in the Democratic leadership office of Senator Chuck Schumer. Quincy Enoch and Nicole Venable from Invariant also joined the conversation to offer additional guidance for companies seeking to communicate their DEI messages to the Hill.

Now is the time to be intentional and focused on DEI, to build sustainable solutions to the racial wealth gap, to expand business diversity, and to ensure diverse professionals are sitting on corporate boards, working in the C-suite, and fully engaged in the policy making process. These are the core goals of Congress’ first subcommittee on diversity and inclusion, established by the House Financial Services Committee under the leadership of Chairwomen Maxine Waters (D-CA) and Joyce Beatty (D-OH) in the 116th Congress to elevate and institutionalize the full committee’s DEI decade-long work.

As part of their work to hold the financial sector accountable for DEI goals and to understand private sector practices and processes that are working well, committee staff are eager to have conversations with banks and other institutions about their forward-looking strategies for making meaningful change within their organizations. DEI work should be seen as beneficial not just culturally to a company but also as additive to the bottom line and ultimately as contributing to the greater good.

Surveys of the Capitol Hill workforce show a troubling lack of gender and racial diversity in congressional offices, particularly in senior positions such as chief of staff and legislative director. The Senate Diversity Initiative is working directly with job candidates to help prepare them for the interview process as well as with current interns and staff who grapple with being one of only a few minorities in their offices.

Speakers discussed several examples of Hill offices and companies acting with “intentionality and accountability” to improve workforce diversity and offered the following recommendations:

Create specific DEI metrics and goals in hiring and promotions

Hold management accountable for meeting targets and goals

Think of DEI in “The Three Ps:” People, Purchasing, and Philanthropy, a suggestion based on a call to action from the Black Corporate Directors Conference

Quincy, Nicole, and Carolyn wrapped up the panel with guidance for government affairs professionals who are engaging Congress in conversations about DEI.

Quincy emphasized three key takeaways:

1. Understand where your organization is on the issue. Undertake an internal review and establish a baseline so you can set goals for the future.
2. Don’t be afraid to engage on the issue. Acknowledge that your company has room for improvement and continuing focus on the issue can go a long way.
3. Effort counts. No one committed to diversity and inclusion expects to see wholesale changes overnight.

Nicole closed the panel by adding that greater diversity and inclusion fuels success, leading to more innovation and better financial returns.

Watch a recording of the final segment of the panel with Quincy, Nicole, and Carolyn:

Dialogue for Change

“Robust Diversity, Equity, & Inclusion — A View from Capitol Hill” was the fourth conversation in Invariant’s Dialogue for Change speaker series, which features critical conversations about racial injustice and inequality and the actions we can take to influence change in the public and private sector. Throughout the series, panelists offered expert insights and deep personal reflection on this current moment in our nation — an awakening on race and unequal treatment of people of color. Conversations ranged from the general work of becoming better listeners, better-educated allies, and better-engaged corporate leaders, to more specific areas such as police reform and corporate DEI.

The series began in early June with “Taking in the Moment. What Does Action Look Like?” The conversation, moderated by Invariant’s Nicole Venable, featured three influential African Americans who work at the intersection of government and politics: Stephanie Rawlings-Blake, the former mayor of Baltimore; Minyon Moore, a political strategist and co-author of “For Colored Girls Who Have Considered Politics;” and Jamal Simmons, a CBS News political analyst and host of #ThisisFYI. They brought personal and professional insights to the moment, the Black Lives Matter protests, and what each of us as individuals, employees, and company executives can do to address deeply entrenched and institutionalized problems.

Our second conversation, moderated by Invariant’s Quincy Enoch, provided powerful context and analysis of the national demands for police reform. “Understanding everyone’s role in police reform, accountability, and the path to change” included perspectives from leaders in law enforcement and advocacy: Patrick Burke, a former U.S. Marshall who now leads the D.C. Police Foundation; Ganesha Martin, a lawyer who led the federal court-ordered consent decree reform efforts at the Baltimore Police Department from 2015–2018; and Charles Ramsey, who was head of the Philadelphia and Washington, D.C. police departments. The panelists discussed policing procedures, accountability, and paths to reform that include engagement from businesses and individuals.

The most recent conversation was an extension of our third panel, “Robust Diversity and Inclusion — More Than a Checklist,” which focused on the work the private sector must do to evaluate and address inequality. Speakers discussed corporate DEI programs and recommended strategies and tactics for making sustained, systemic change within a corporate structure. Panelists India Gary-Martin, principal at Leadership for Life and member of the Forbes Coaching Council, Amy Smith, managing director with Deloitte Consulting LLP, and Rory Verrett, founder and managing partner of Protégé Search, made a series of recommendations including: embedding DEI into all parts of an organization, developing measurable DEI metrics, and holding executives accountable for meeting DEI goals.