This document discusses driving change for racial equity through a holistic approach that considers business drivers, internal factors, and external factors. It recommends addressing diversity, equity, and inclusion as business drivers by directly serving broader market segments, leveraging supplier diversity, and eliminating systemic bias. It also recommends deploying resources for social change by mitigating bias through equitable policies, creating an inclusive culture, and using influence to catalyze change. Quick wins are suggested in three areas: as business drivers by reviewing representation gaps, distribution commitments, and marketing practices; in teams and culture by analyzing representation metrics and embedding equity in processes; and with resources by pledging support and partnering with advocacy groups.

1. Driving Change
in Racial Equity

2. 1. Total Societal Impact: Integrating social and environmental impact as driver of strategy and value creation. Includes three lenses: Shareholder Value, Societal Impact, and Corporate Longevity.
A Holistic Response Requires Attention to Business Drivers,
Plus Internal and External Factors
Diversity, equity, and inclusion as
business drivers (TSI lens)1
Drive innovation and create value by
directly serving broader market segments
Leverage supplier and distributor diversity
as a competitive advantage
Eliminate systemic bias in business
practices and strategies
Diverse, equitable, and
inclusive teams and culture
Deploying resources for social
and systemic change
Mitigate bias through equitable
personnel policies
(hiring, development, retention)
Create a culture of inclusion
that supports diversity and
racial equity
Use voice, influence, philanthropy
as a platform to catalyze change
Build coalitions to amplify
commitments within industry
Invest in diverse communities
and customer segments

3. For each of these, a few
quick wins can start moving
the needle for diversity,
equity, and inclusion.

4. …As business drivers
Develop and internally review metrics
to identify socio-demographic gaps in
your brands, products/ services, distribution,
and messaging/imaging
Conduct rapid diagnostics to review your
marketing, sales (e.g. terms & conditions),
customer service, and algorithmic practices
Review suppliers and distributors
for representation and commitment to
inclusion with an equity task force

5. …In teams and culture
Analyze representation metrics at all
levels—including retention rates and
engagement scores
Embed diversity, equity, and inclusion
into core processes, ensuring they are
evident in culture and ways of working
Incorporate commitment to equity as
a performance metric

6. …With resources
Become a signatory on one of the many
pledges committing to positive impact on
inclusion and diversity
Identify areas of focus, where the
systemic issues are greatest and most
relevant to your values and purpose
Reach out to a local advocacy group to
explore partnership opportunities and
areas of need