Business and Finance

COQUAL RELEASES NEW FINDINGS FROM ITS BLACK EQUITY INDEX, A TOOL FOR COMPANIES TO MEASURE & ADVANCE RACIAL EQUITY IN THE WORKPLACE

Published

10 months ago

December 6, 2023

NEW YORK /PRNewswire/ — Coqual, a leading global think tank, today released a new white paper with the results of its second annual Black Equity Index (BEI), a benchmarking tool created for companies to drive measurable change, track true progress, and demonstrate their commitment to racial equity in the workplace.

Coqual finds most (86%) companies that participated in the BEI are concerned about the outcome of the US Supreme Court Affirmative Action case, and its implications for workplaces. Compared with last year, companies’ involvement in the Diversity, Equity & Inclusion conversation is diminishing from the public eye—with its risk of public and legal scrutiny—and some are shrinking their investment in DE&I teams.

“Despite the recent attacks on DE&I initiatives nationwide, companies have maintained ongoing efforts to improve equity in the workplace,” said Coqual CEO Lanaya Irvin. “Participating companies are committed to driving racial equity, transparency, and are dedicated to making meaningful strides in the workplace.”

Established in 2022, the BEI harnesses the power of data to create opportunity for Black professionals and measures an organization’s efforts in six domains: accountability, advancement, representation, investment, sustainability, and public engagement. Informed by Coqual’s decades of research and DE&I expertise, the white paper presents actions within each domain that companies can take in the complex pursuit of diversity, equity, and inclusion.

More than 40 companies participated in Coqual’s second annual BEI survey, representing a diverse group of the corporate sector — both small and large public and private companies from industries such as healthcare, tech, banking, and retail. The number of participating companies nearly doubled from the BEI’s inaugural year, indicating that corporate America is working hard to improve their DE&I efforts.

BEI KEY DATA & FINDINGS:

Representation: Building Black representation at every level of an organization is critical to moving DE&I efforts forward. Representation continues to lag and ranks as one of two BEI domains most in need of improvement.

Fewer than 2 in 5 BEI participating companies have 10% or greater Black representation in their workforce.
Only 7% of people managers—and only 3% of executives—are Black.
Black professionals are more likely to be represented in HR and support functions. On average, 13% of support professionals and 12% of HR employees are Black.
Half of BEI participating companies have surpassed 10% Black representation at the Board of Directors’ level. Yet one in eight companies (13%) still do not have a single Black board member.

Accountability: Companies must hold their leaders accountable for the state of DE&I as they do for other business priorities. Transparency is transformative—and Coqual finds opportunities within the accountability domain for companies to be more vocal about the great equity work they are already undertaking.

Nearly 7 in 10 (67%) participating companies include a DE&I-related focus in C-suite performance evaluations.
Fewer companies (58%) hold leaders to this level of accountability by considering workforce diversity in performance evaluations.
Even fewer still (44%) tie C-suite pay to progress on diversity metrics.

Investment: Companies must back their commitments with tangible resources. Deepening and sustaining investment in DE&I is integral to rooting out inequity and ensuring that inclusion is a top priority throughout the organization.

Nearly all respondents (81%) have an organization-wide DE&I task force, council, or working group that is separate from their DE&I team.
Of companies that provide anti-bias training, 5 out of 10 companies (55%) make it mandatory for senior leaders.

The full findings for the report can be found here.

Coqual’s 2023 BEI results indicate great progress, as well as great opportunity for increased investment. This is not the time to slow down. Coqual suggests the following data-based actions for leaders to use moving forward. As always, Coqual’s corporate guidance is backed by decades of intersectional, deep-dive research and advisory work and thought leadership on diversity, equity, and inclusion.

Recommendations include:

Study and champion sponsorship. Get clear on the critical distinctions between mentorship and sponsorship, and work towards building a culture of sponsorship. Sponsorship programs should be monitored for effectiveness and refined accordingly.
Recruit from the top down. Pay attention to your board, your executives, your people managers, and other key positions of power within your organization. If Black professionals are concentrated at entry level, and siloed in certain positions, the work is not done.
Disaggregate, always. While overall representation numbers may seem positive, Black professionals may be overconcentrated in certain roles and lack access to others, as our BEI results show. Companies should aspire to reflect the regions in which they operate, and in certain parts of the country, Black representation far exceeds 14%.
Get high-tech. BEI companies share that they are tapping into technology to help make their recruitment and hiring processes more equitable. Leverage the growing body of technology built to help the mission of diversity, equity, and inclusion—but of course, vet it critically and thoroughly.
Connect with Black youth. In addition to college recruitment, invest in and improve representation long-term by partnering with schools, and grassroots and nonprofit programs that serve Black youth.

Companies can sign on to learn more and participate by emailing BEI@coqual.org

Methodology: The 2023 Black Equity Index is an annual survey that captures information on diversity, equity, and inclusion efforts focused on Black professionals. This computer-assisted survey was fielded online between February and May of 2023. A total of 43 companies submitted completed forms. All information was provided by representatives from respective companies and relied on voluntary, self-report data. Activities associated with instrumentation, fielding, and analysis were conducted by Coqual, an independent, nonprofit research organization. Additionally, each company that submitted a completed interview received an individual company scorecard documenting their standing across each of the six BEI domains. Weighted calculations of domain totals were applied for a maximum index score of 180. Response items that were left blank were treated as missing or non-applicable. The findings presented here are descriptive in nature and do not attempt to make any inferences about the programming impact of participating companies, or their related outcomes.

About Coqual: Coqual (formerly Center for Talent Innovation) is a leading global, nonprofit think tank dedicated to helping leaders design diverse, equitable, and inclusive workplaces where every person belongs. Founded in 2004, Coqual provides in-depth research, thought leadership, and data-driven, actionable solutions for companies to address bias and barriers to inclusion for underrepresented populations in the workplace. Coqual’s cutting-edge research and Advisory Services focus on gender, race, ethnicity, disability, veteran status and LGBTQ identities, and others—as well as the intersections among these groups. For more information, visit www.coqual.org.

SOURCE Coqual

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Lifestyle

Goodwill created a new high school for dropouts − it led to better jobs and higher wages

Published

1 week ago

October 1, 2024

The Conversation

Patrick Turner, University of Notre Dame

Goodwill

When Goodwill of Central and Southern Indiana realized most of the clients in its job-training program lacked a high school diploma, it set out to address the issue.

In 2010, with the help of per-pupil funding from the state, the nonprofit opened The Excel Center, a tuition-free high school tailored for adults. The charter school offered flexible schedules, free on-site child care, transportation assistance and a life coach. Thirteen years later, research by my team at the University of Notre Dame’s Lab for Economic Opportunities shows that The Excel Center is a success.

Indiana graduates of the program, which has now expanded to 10 other states and the District of Columbia, were able to find better jobs and earn substantially more over their lifetimes than their peers who did not graduate from the program.

At the Lab for Economic Opportunities – or LEO – I worked with colleagues Rebecca Brough and David Phillips to measure the economic return of graduating from The Excel Center. We found that graduates of The Excel Center experience a nearly 40% increase in earnings five years after applying – or roughly US$80,000 more in their pockets over their lifetimes – than similarly situated adults who applied but did not enroll. The LEO team did not receive any funding from The Excel Center or Goodwill in its research, although Goodwill provided assistance with data.

More steady employment

According to our research, graduates of The Excel Center didn’t just earn more, but the jobs they found were more stable. Excel graduates experienced a 22% increase in continuous employment within the same industry over five years than their peers in the comparison group. Graduates of the program were 19% less likely to work in the hospitality industry – among the lowest-paid sectors in the country – and more likely to work jobs such as pharmacy technician, dental assistant or in HVAC maintenance.

A man tends to an air handling and conditioning unit. — Graduates of Excel found jobs in high-paying sectors, such as HVAC maintenance. Mikael Vaisanen/The Image Bank via Getty Images

In addition to a diploma, students earned industry-recognized credentials, such as those in phlebotomy and child development, and certification as nursing assistants and pharmacy technicians. These credentials opened up careers in industries such as health care and education.

Some students used the certificates as a launching point for additional study at the local community college. At the time we conducted our research, Excel graduates in Indiana were more likely to have earned college credits: Roughly 30% of Excel graduates earned college credit, compared with 11.5% of the group that didn’t enroll.

To reach these conclusions, we looked at the data of more than 9,000 Excel Center applicants from 2013–15. We focused on their earnings over the five years before and after they applied to the program. Our analysis compared the experience of Excel students – both graduates and nongraduates – with other adult residents of Indiana from similar backgrounds who had expressed interest in going to The Excel Center but never enrolled.

Why it matters

The Excel program is not just good for the students who graduate; it offers the states who help fund the program a return on their investment. Because graduates earn more, they pay more in taxes, allowing states to recoup much of the per-student cost over the graduates’ working careers. Each additional dollar of government funding generates $20 in benefits for the typical Excel Center student, measured as the present value of their lifetime increase in after-tax earnings.

In contrast, federally funded programs such as Job Corps and Adult Education and Literacy primarily help adults without credentials study and pass a high school equivalency exam, such as the GED test. But research suggests a GED diploma has little effect on earnings, especially for women.

More than 23 million adults in the U.S. lack a high school credential such as a diploma or a GED certificate. They are not only shut out of most jobs but also earn substantially less than their peers who have graduated from high school.

Plans to expand

Goodwill is leveraging the LEO study to expand the impact of its programs. In addition to the 18 Excel Center campuses the group currently operates throughout central and southern Indiana, it has partnered with Goodwill regions across the country to bring adult high schools to Arizona, Arkansas, Colorado, Illinois, Kentucky, Maryland, Missouri, South Carolina and Washington, D.C.

LEO’s data was cited directly when Arizona, which had been one of 18 states without a high school option for adults, decided to join the Excel roster. In February 2020, state lawmakers – prompted by testimony from Goodwill and by the LEO research – amended the state’s law to establish a continuing high school program in the state.

Patrick Turner, Associate Research Professor of Economics, University of Notre Dame

This article is republished from The Conversation under a Creative Commons license. Read the original article.

Our Lifestyle section on STM Daily News is a hub of inspiration and practical information, offering a range of articles that touch on various aspects of daily life. From tips on family finances to guides for maintaining health and wellness, we strive to empower our readers with knowledge and resources to enhance their lifestyles. Whether you’re seeking outdoor activity ideas, fashion trends, or travel recommendations, our lifestyle section has got you covered. Visit us today at https://stmdailynews.com/category/lifestyle/ and embark on a journey of discovery and self-improvement.

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Lifestyle

CareerBuilder and Monster close combination, creating stronger job board for talent and employers

CareerBuilder and Monster have finalized their merger, creating a stronger job board to capitalize on market trends. Jeff Furman leads the team, and further branding details will follow.

Published

2 weeks ago

September 27, 2024

Daily News Staff

CHICAGO, Sept. 16, 2024 /PRNewswire/ — We are excited to announce that with the completion of all customary regulatory approvals, the agreement to combine CareerBuilder and Monster is now finalized. As previously announced, the combination of CareerBuilder and Monster brings together two strong, trusted, complementary brands to create a job board with greater scale and reach. Together, both companies can more effectively capitalize on prevailing trends in the market to deliver enhanced growth.

CareerBuilder

Jeff Furman, CEO of the combined company, said: “I could not be more excited to bring these two celebrated brands together. We are able to leverage the best-in-class solutions, capabilities, and expertise from both companies to better serve both our candidates and employers and help them navigate the evolving talent marketplace.”

In addition, we are excited to announce the new leadership team of the organization:

Dinesh Arora, Chief Technology Officer

Scott Blumsack, Chief Marketing and Strategy Officer

Brian Burbrink, Chief People Officer

Leslie Cope, Chief Product Officer

Ahern Dull, Chief Operating Officer

Mark Pacioni, General Counsel

Mike Suhajda, Chief Financial Officer

More details about the company, including branding, will be announced in due course. For now, the company will be referred to as CareerBuilder + Monster, and both websites will continue to operate.

PJT Partners Inc. served as financial advisor and Sidley Austin LLC served as legal counsel to CareerBuilder on the transaction. Jefferies LLC served as financial advisor and Jones Day served as legal counsel to Monster on the transaction.

about CareerBuilder
For over 25 years, CareerBuilder has been a leading global talent marketplace providing innovative solutions to help employers find, hire, and onboard great people, and help job seekers build new skills and progressive careers as the modern world of work changes. CareerBuilder is majority-owned by funds managed by affiliates of Apollo Global Management, Inc. For more information, visit careerbuilder.com, and to learn more about our solutions for employers, visit hiring.careerbuilder.com.

about Monster
Monster is a global leader in connecting the right people to the right jobs. Every day, Monster aims to make every workplace happier and more productive by transforming the way employers find talent and candidates find careers. For 30 years, Monster has worked to transform the recruiting industry. Today, the company leverages innovative digital, social, and mobile solutions and proprietary data and insights to enable employers and candidates to see each other more clearly. For more information, visit monster.com.

SOURCE CareerBuilder + Monster

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financial wellness

Preventive care is free by law, but many Americans get incorrectly billed − especially if you’re poor, a person of color or don’t have a college degree

Preventive care costs exacerbate health disparities, disproportionately affecting marginalized communities. Insurance claim denials are higher for minority and low-income patients despite legal exemptions.

Published

2 weeks ago

September 23, 2024

The Conversation

Alex Hoagland, University of Toronto and Michal Horný, UMass Amherst

Even though preventive care is supposed to be free by law for millions of Americans thanks to the Affordable Care Act, many don’t receive recommended preventive services, especially racial and ethnic minorities and other at-risk patient groups.

The Affordable Care Act exempted preventive services from patient cost-sharing for large chunks of the population. This means that if you receive preventive screening and have private insurance, including through the ACA Marketplace, there should be no copay at time of service, and you shouldn’t get a bill later on. Easy enough, right?

Wrong. Our team of health economists has shown that patients spend millions of dollars every year on unexpected bills for preventive care. The main reason for this is that no specific regulations were put in place to determine exactly which services should be exempted, or for whom, or how often. This omission has left many people on the hook to pay for valuable health care they thought would be free.

Now, in our recently published research in the journal JAMA Network Open, we’ve found that the burden of paying for what should be free preventive care disproportionately falls on some patient groups.

Close-up of hand filling out health insurnace claim form with a pen — Which health care services should be exempted from cost-sharing often isn’t clear. Tetra Images/Getty Images

Inequitable claim denials

Looking at data from over 1.5 million patients, our study demonstrates that insurers deny preventive claims for patients from marginalized communities at higher rates than for those from majority groups.

For example, low-income patients were 43% more likely than high-income patients to have their claims denied. In addition, Asian, Hispanic and non-Hispanic Black patients were each roughly twice as likely as non-Hispanic white patients to have claims denied.

Not only were these patients denied routine benefits, but they also saw large differences in rates of billing errors. For example, patients with a high school diploma or less experienced denials due to this kind of billing error almost twice as often than patients with college degrees. All of these services should have been covered by an insurer.

Research on preventive care access is commonly based only on claims data, which doesn’t typically have information on patient demographics. This limits a study’s ability to detect differences across patient groups. Our study, however, uses a combination of linked claims data, remittance data containing information on why claims were denied and whether they were resubmitted, and demographic data from self-reports, purchase transactions and voter registries. Together, this richer dataset allowed us to examine differences in denials based on race and ethnicity, education and income, including reasons why patients were denied care.

Preventive care is essential

Equitable access to preventive health care is about more than just physicals, although those are important, too. Preventive health care includes key screenings for cancers, cardiovascular disease and diabetes, access to contraceptives, and mental health checkups, among other services. Ensuring that insurers provide equal coverage for these services for all patients is important to improve health outcomes and quality of life for everyone while reducing future health care costs.

Our results paint a picture of the kinds of hurdles patients face when they seek health screenings. Patients from underrepresented groups were not only more likely to be told their care wouldn’t be covered. They were also more likely to have their claims processed incorrectly, leading to more frequent denials and, ultimately, larger medical bills. https://www.youtube.com/embed/Uc2uG6LhFQQ?wmode=transparent&start=0 Few patients appeal claim denials, even though rejections may be unjustified.

Unexpected bills can affect both a patient’s current health and their future use of health care services. These hurdles can exacerbate an already tenuous trust in a fragmented health care system, making patients less likely to return for follow-up screenings.

Stacked coverage denials for patients who live with multiple marginalized identities or who are less able to advocate for themselves can further entrench racial and socioeconomic inequities.

Ensuring equitable access

Our study paints a compelling picture of where different patients may face hurdles for getting preventive care, but more research is necessary to identify how to ensure equitable access.

As our study looked only at preventive services, we will also need to see how our findings generalize to other forms of health care. More research is also needed to understand how other vulnerable patient groups, such as LGBTQ+ patients or patients with multiple chronic conditions, fare when trying to access care.

Our team is currently studying how actual bills for care differ across patient groups and how patients respond when bills arrive. In our study, more than two-thirds of denied claims were never resubmitted to insurers, meaning that many billing errors go uncorrected at patients’ expense.

Equitable policy on multiple fronts can help rectify the way preventive care is inconsistently and inequitably provided. These include uniform coverage of preventive care by insurers, standardized billing practices for physicians and improved means for patients to advocate for themselves. This can help ensure that everyone has appropriate access to lifesaving health care.

Alex Hoagland, Assistant Professor of Health Economics, University of Toronto and Michal Horný, Assistant Professor of Health Policy and Management, UMass Amherst

This article is republished from The Conversation under a Creative Commons license. Read the original article.