The US is facing a historical and devastating “SheCession” – an economic downturn where job and income losses are dramatically affecting women. What can Boards and Executives do to stem the exodus of women from the workforce?

1. SHECESSION SERIES
March 3, 2021

2. theboardiQ condemns the hate, discrimination
and violence being perpetrated against the Asian
American Community.
1. Raise Awareness, Speak Up, and
Condemn these attacks, and Anti-
Asian Racism
2. Report instances of anti-Asian
assault and crimes
3. Protect yourself in the face of
discrimination or safely stand up for
others as a bystander
4. Learn about the history of Asian
Pacific Islander discrimination
and other challenges we face
5. Support, donate, and volunteer
with organizations actively
combating racism against the Asian
Pacific Islander community
6. Be involved with your company/
organization’s Diversity, Equity
and Inclusion (DEI) space
Click on each block to access resources - “Airbnb”

3. The appointment of Michelle Gethers-Clark as Chief
Diversity Officer and Head of Corporate
Responsibility. Gethers-Clark will join Visa’s
Executive Committee and report to Chairman and
Chief Executive Officer, Al Kelly.
SPOTLIGHT
➤Inclusion and diversity
➤Social impact and sustainability efforts globally -
*Managing initiatives to enhance Visa’s commitment to
being a responsible, ethical and sustainable company.
*Visa’s social impact efforts to drive equitable economic
growth with a special focus on supporting small and
micro businesses.

4. CONTENT
➤ The Problem
➤ Primary Sectors Impacted
➤ Action Required
➤ The Mantra for “Progressive”
Boards
➤ Conclusion
➤ About theboardiQ

5. THE PROBLEM
The US is facing a historical and
devastating “SheCession” – an
economic downturn where job
and income losses are
dramatically affecting women.

6. PRIMARY SECTORS IMPACTED IN DECEMBER, 2020
The leisure and hospitality
sector lost 498,000 jobs in
December.
Women accounted for 56.6% of
these job losses, while making
up 53.1% of the leisure and
hospitality workforce.
National Women’s Law Center
Leisure and Hospitality
Jobs Lost By Men Jobs Lost By Women
56.6% Jobs Lost By Women

7. PRIMARY SECTORS IMPACTED IN DECEMBER, 2020
The government sector lost
45,000 jobs, with women
accounting for 91.1% of those
losses.
Women make up 57.5% of the
government workforce.
National Women’s Law Center
Government Workforce
Jobs Lost By Men Jobs Lost By Women
91.1% Jobs Lost By Women

8. PRIMARY SECTORS IMPACTED IN DECEMBER, 2020
The retail trade sector
gained 120,500 jobs in
December.
Women accounted for only
44.2% of those gains, while
making up 48.5% of the retail
trade workforce
National Women’s Law Center
Retail Trade
Jobs Gained By Men Jobs Gained By Women
44.2% Jobs Gained By Women

9. WOMEN’S UNEMPLOYMENT RATES DECEMBER 2020
Minorities, Young Women and Women with Disabilities Impacted the most
Women Overall
Black Women
Latinas
Women Aged 20 - 24
Women with Disabilities
0 3 6 9 12
11.4
9.3
9.1
8.4
6.3
Unemployment rate for white men @ 5.8%
National Women’s Law Center

10. ACTION REQUIRED
Why Boards need to embrace the
DEI agenda and stem the exodus
of women and other Inclusion
slates from the workforce

11. Companies with diverse talent
and an inclusive culture
➤ serve their customers
better,
➤ innovate more,
➤ have stronger employer
brands and
➤ produce better business
results.
WHY BOARDS NEED TO EMBRACE THE DEI AGENDA
In a “full potential” scenario in which women play an identical role in labor markets to
that of men, as much as $28 trillion, or 26% could be added to the global annual GDP by
2025 - McKinsey Global Institute
$100 Million revenue generated by Frito Lays
leveraging its Latino Employee Network to produce
Doritos’s Guacamole.
Gender diverse companies are more likely to outperform those that are not by as much
as 15%. Similarly, ethnically diverse companies are more likely to outperform those that
are not by as much as 35% - McKinsey Research
The percentage of engaged employees increases by 6-7% when teams are gender diverse
- Gallup
Wrongful termination; there is an estimated $1 Billion potential liability for a pending
class action discrimination lawsuit against a large global retailer. In another recent case,
there are big implications for a top Bay Area headquartered Global Tech Company facing
a class action lawsuit based on age discrimination.
The importance of D&I has been consistently rated as a
top 5 Employer Value Proposition (EVP) attribute for top
talent seeking employment.
Women in the US (and in many other global markets as
well) control (directly or indirectly) more % (estimates
put it as high as 85%!) of consumer purchases than
their male counterparts.
GDP GROWTH ERG CONTRIBUTION TO BUSINESS
EMPLOYEE ENGAGEMENT
EMPLOYER VALUE PROPOSITION
ENHANCED PERFORMANCE
LEGAL EXPOSURE
PURCHASING POWER
$ 28 Trillion
26%
6-7%
35%
Top 5
85%

12. THE MANTRA FOR
PROGRESSIVE BOARDS
Board Ownership
Long Term Strategy vs Short term
Companywide vs Few Groups
Board Activism like Paycuts to save jobs
Restructuring done right
Invest in Re-skilling
Board Accountability for Sustainable Goals

13. DEI needs to be driven from
the top and inter-twined
with the business goals of
the company
BOARD & CEO OWNERSHIP
➤ Marriott International’s deeply rooted cultural approach to diversity and inclusion
encompasses results-oriented metrics and initiatives that support associates, customers,
suppliers and owners.
➤ Their CEO-led Global Diversity and inclusion Council and Board-chaired Committee for
Excellence establish priorities and ensure accountability.
MARRIOTT
We deeply mourn the demise of Arne M. Sorenson,CEO, Marriott International earlier this month

14. Long Term Vs Short
Term - full results of
D&I are reaped in only
in the long term
It takes time to make
an impact and see
significant, visible and
tangible results.
LONG TERM STRATEGY
The board of directors for Global
Inclusion Office help guide their
collective vision to ensure they
use their actions to cultivate a
culture of inclusion and belonging
throughout Mastercard. The GIC
brings a global perspective, with
members representing all
business regions – North
America, Latin America/Caribbean,
Europe, Asia/Pacific, and Middle
East and Africa.
“Global Inclusion and Diversity means
more than bringing together people with
different backgrounds. It is a belief that
our differences enable us to be a better
team – one that makes better decisions,
drives innovation and delivers better
business results. We strive to create
meaningful connections, inspire
acceptance and cultivate a culture
where we all belong.”
Co-chaired by the Chief
Executive Officer and
General Counsel, the GIC
meets regularly and actively
seeks ways to support and
grow their inclusive culture
in order to enhance value
for employees, customers,
shareholders and
communities.
MASTERCARD

15. Very often companies
support special initiatives
for a few diverse
individuals or groups.
D&I efforts should be
company-wide.
COMPANYWIDE CULTURE
Culture: We’re fanatical about our culture,
which is the way we work and engage in
our organization. We’re doing work to
creating an even greater staff experience
as an evolution of our culture. We’ve
launched culture champions who are
across our entire organization and are
sprinkling our culture locally.
An equitable and inclusive workplace
where everyone belongs.
Diversity, Equity, and Inclusion:
Continuously strive to create a culture
of inclusion through continuous
listening, committing to share and
learn from experiences, fostering a
nurturing workplace and workforce
that accepts Concentrix values, and
celebrating the diversity of staff.
VISION
Create a diverse and inclusive work environment by
intentionally investing in four areas:.
A work environment where both LGBTQIA
and non-LGBTQIA employees are
engaged across all identity groups.
Changed benefits to offer expanded
benefits to same-sex couples. Concentrix
has also been proactive in understanding
and removing the barriers that
discourage people with disabilities from
applying for jobs.
Concentrix actively works to integrate
social and environmental responsibility
with everyday business practices. Their
strength lies with their 50,000-person
team across multiple geographic
regions, including North America,
EMEA, Asia, Australia, and Latin
America, remains committed to ethics,
social responsibility, and sustainability.
CULTURE DEI
LGBTQIA ESR

16. Pay Cuts become a Tool
for some Companies to
avoid layoffs
“Shared sacrifice” in the
white-collar ranks aims
to avoid the cost of
staffing up again.
BOARD SPECIAL INITIATIVES, CEO MEDIAN PAY RATIOS
➤ Publicly traded companies are required
to disclose the pay ratio between their
chief executive and median employees.
➤ In 2019, the ratio of CEO-to-typical-
worker compensation was 320-to-1
under the realized measure of CEO pay;
that is up from 293-to-1 in 2018
➤ From 1978 to 2019, CEO pay based on
realized compensation grew by 1,167%,
far outstripping S&P stock market
growth (741%) and top 0.1% earnings
growth (which was 337% between 1978
and 2018, the latest data year available).
In contrast, compensation of the typical
worker grew by just 13.7% from 1978 to
2019.
CEO MEDIAN PAY
Delta (DAL) CEO Ed Bastian: “As I mentioned last week, I've cut my own salary by 100
percent through the next six months. Our Board of Directors elected to forego their
compensation over the next six months as well.”
Alaska Air (ALK) CEO Brad Tilden cutting base salary to zero.
United (UAL) CEO Oscar Munoz and President Scott Kirby “will forego their base salary at
least through June 2020.”
Southwest (LUV) CEO Gary Kelly taking a 10% pay cut.
JetBlue (JBLU) CEO Robin Hayes is taking a 20% pay cut.
Allegiant (ALGT) CEO Maurice Gallagher and President John Redmond take full pay cut.
Spirit (SAVE) CEO Edward Christie is taking a pay cut.
IndiGo’s (INDIGO.NS) CEO Ronojoy Dutta is taking a 25% pay cut.
Lyft (LYFT) co-founders John Zimmer and Logan Green pledged to donate their salaries
through June.
Fiat Chrysler (FCAU) CEO Mike Manley has halved his salary for three months and chair
John Elkann has cut his entire base compensation until year end.
As GE (GE) lays off 10% of its aviation workforce, CEO Lawrence Culp is foregoing his “full”
salary. It is not clear whether this means his full base salary or his total compensation.
Furthermore, David Joyce, vice chairman of GE and president and CEO of GE Aviation,
“will forgo half of his salary,” the company announced.
Disney (DIS) CEO Bob Chapek will be taking a 50% pay cut, according to the Hollywood
Reporter. The company said all VP level executives will get a 20% reduction in salary
starting April 5, according to Variety.
Comcast (CMCSA) CEO and chair Brian Roberts will be donating his salary to COVID-19
charities and has set up a $500 million fund for employees.

17. Employees (and ex-
employees) become our
biggest brand
ambassadors.
Treating them right during
difficult layoffs and
transitions creates
immense goodwill and
enhances the company’s
corporate reputation
RESTRUCTURING DONE RIGHT
➤ Redeployment - Leverage Internal Opportunities Linked to Future Business
Strategy
➤ Severance - 14 weeks of base pay, plus one additional week for every year
at Airbnb.
➤ Equity - Dropping the 1 year Cliff on Vesting
➤ Healthcare - 12 months of Health Insurance through COBRA
➤ Mental Health Support - 4 months of Mental Health Support
➤ Job Support - Alumni Talent Directory - External Facing Portal
➤ Job Support - Alumni Placement Team - Internal Recruiting Support
➤ Job Support - RiseSmart - Career Transition Services
➤ Job Support - Employee Offered Alumni Support
➤ Job Support - Laptops - Employees get to keep their Apple Laptops
LEADING FROM THE FRONT
COMMUNICATE..COMMUNICATE..COMMUNICATE

18. Invest in re-skilling and
up-skilling vulnerable jobs
/ sectors to the core
growth engines / demand
sectors of the future.
Support Re-skilling /
Vocational Training Costs
(sustain 1 year training
cost as severance for
impacted blue collared
workforce)
INVEST IN RE-SKILLING
➤ The retail and hospitality-and-food-service sectors account for 42 percent of vulnerable jobs, while
some sectors, such as groceries, are hiring two million to three million additional workers. Re-
skilling and proactive redeployment is key.
➤ Work Hub, a new way for drivers to find essential work- If Uber Eats is in your city, you can turn on
delivery requests with a single tap in the Driver app. The App also accepting signups for Uber
Works, which connects people to shift work like food production, warehouse, and customer service
in Chicago, Dallas, and Miami. And with Uber Freight, where carriers get paid for every load they
deliver, they get priority eligibility screening for drivers with a Class A Commercial Driver’s License.
Partnerships with Domino’s, Shipt, CareGuide.Digital
➤ Talent Exchange Platforms to enable quick access of right jobs for displaced workers are the norm
LEADING FROM THE FRONT

19. Goal #5 - Gender Equality
Gender equality is not only
a fundamental human
right, but a necessary
foundation for a peaceful,
prosperous and
sustainable world.
BOARD ACCOUNTABILITY FOR SUSTAINABLE GOALS
Economic
Participation and
Opportunity
Educational
Attainment
Health and
Survival
Political
Empowerment
➤ Marc Benioff personally drove three special adjustment cycles to close the Gender Pay gap at
Salesforce. After the third pay assessment, Salesforce had spent a total of $8.7 million addressing
differences in pay based on gender, race, and ethnicity.
➤ Because of historical acquisitions, to prevent systemic and recurring gaps year on year, the
company devised a new set of job codes and standards and applied them to each newly integrated
company, to make sure everyone performing similar work was similarly compensated from day one.
From there, the Employee Success team began reviewing merit increases, bonuses, stock grants,
and promotions to root out disparities there, too.
➤ The CEO and Board commitment to equality has helped them land the number one spot on Fortune’s
list of best companies to work for, as well as the top spot on People magazine’s list of “Companies
That Care” two years in a row. And it has contributed to their ability to attract the very best and
brightest talent in the country.
GENDER PAY EQUITY
The Global Gender Gap Index 2020 rankings
53

20. CONCLUSION
It is apparent that CEOs and Boards have a
more active role to play in stemming and
pro-actively reducing the impact of job
losses on gender, minorities, differently
abled and younger workforce.
There are pockets of excellence on how this
can be achieved. We need the collective
commitment of Public and Private Boards to
set the tone for creating an Inclusive
workforce for the future with the right skills.

21. ABOUT theboardiQ
*Platform under construction
Diversified Executive Recruiting
We serve as an extension of your
complete Executive Recruiting and
Talent Acquisition needs. Our unique
Inclusion based approach based on
business and market intelligence scans,
helps us identify top talent in hyper
competitive
markets.
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Complete lifecycle of People Management
Solutions - Vision / Mission / Culture;
Workforce Planning; Career Development
Models; Employee Engagement Surveys
and Action Planning; Organizational
Development Interventions;
Succession Planning; Compensation
and Benefits Benchmarking
KNOW MORE
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theboardiQ Research
Deep Research, Market Intelligence and
Best Practice Scans on Boards, Technology,
Domains, Human Resources, Pandemic
Pivots and more…
theboardiQ Hall of Fame
Inaugural 2020 theboardiQ Hall of Fame
Franchisee - all slates of Inclusion - Race |
Ethnicity | Sexual Orientation | Minorities
| Multi-generational | Roles | Veterans |
Country of Origin
Enabling the creation of Inclusive Boards for Businesses

23. CALL FOR ACTION
1. Raise Awareness, Speak Up,
and Condemn these attacks,
and Anti-Asian Racism
• Sign and share these petitions to raise awareness and
stop anti-Asian racism
◦ Get mainstream news coverage of national elderly
Asian American assaults
◦ Provide Safety Ambassadors & prevent Hate Crimes
on elderly in San Francisco Chinatown
◦ End Hate Crimes against Asian Americans
• Watch and share these videos on the rise of anti-Asian
violence in the recent weeks:
◦ ‘We are crying out for help’: Actors, activists
sounding alarm on surging attacks against Asian
Americans (MSNBC)
◦ Oakland Chinatown press conference denouncing
attacks on Asians in the community
◦ #NeedToKnow by Yoonj Kim from MTV News
◦ The Reidout on MSNBC: Asian Americans face rise
in racist attacks amid pandemic
• Read and share this article on the rise of recent hate
crimes on Asian Americans by Vice: Asian Americans
Are Calling on Allies in Response to a Wave of Violence
• Read about anti-Asian racism during
COVID-19 and how to advance Asian American
recovery
BACK

24. CALL FOR ACTION
2. Report instances of anti-
Asian assault and crimes
• Report them
at StopAAPIHate.org.
3. Protect yourself in the face
of discrimination or safely
stand up for others as a
bystander
• Join webinars and training
hosted by the Hollaback
Bystander Intervention.
BACK

25. CALL FOR ACTION
4. Learn about the history of Asian
Pacific Islander discrimination
and other challenges we face
• Read up on the model minority myth, why it exists, and
why it’s harmful to other marginalized communities
• For a historical overview on anti-Asian racism in America:
◦ Read this article about America’s long history of
scapegoating its Asian citizens by National
Geographic
◦ Read the book “Chinese in America” by Iris Chang
◦ Watch the PBS documentary “Asian Americans”
• Read this article on the importance of Asian & Black
solidarity by Michelle Kim
• Follow these API community leaders and activists for more
resources and education
◦ Michelle Kim, activist and co-founder of Awaken
◦ Amanda Nguyễn, activist and founder of risenow.us
◦ Dr. Kiona, activist (see this post from Dr. Kiona on
other accounts to follow)
◦ Daniel Wu, actor and activist
◦ Hasan Minhaj, comedian, actor, political commentator,
and television host
• Learn more about how anti-Asian discrimination manifests
in the workplace by reading Jane Hyun’s “Breaking the
Bamboo Ceiling” and Margaret Chin’s “Stuck: Why Asian
Americans Don’t Reach the Top of the Corporate Ladder”.
BACK

26. CALL FOR ACTION
5. Support, donate, and volunteer
with organizations actively
combating racism against the
Asian Pacific Islander community
Organizations to support and donate to
• Stop AAPI Hate – aggregates and responds to incidents of
hate and harassment against Asian American/Pacific
Islanders. Stop AAPI Hate received 1,843 reports of anti-Asian
discrimination due to COVID-19 in its first eight weeks of
reporting (March 19 to May 13).
• Hate is a virus – started as a grassroots movement to combat
racism and xenophobia against Asian Americans and Pacific
Islanders (AAPI) fueled by COVID-19, Hate is a virus has
evolved into a sustainable organization that addresses
xenophobia and hate in the AAPI and BIPOC communities.
• Act To Change – a national nonprofit organization working to
address bullying, including in the AAPI community. They
published “The Racism is a Virus Toolkit” to support the
community in combating racism.
• Asian Americans Advancing Justice – a national nonprofit
organization that focuses on housing rights, immigration, civil
rights, labor rights, and others for Asian Americans
• National Council of Asian Pacific Americans – a nonprofit
organization that serves to represent the interests of the
greater Asian American (AA) and Native Hawaiian Pacific
Islander (NHPI) communities through a coalition of 37 national
Asian Pacific American organizations around the country.
BACK

27. CALL FOR ACTION
5. Support, donate, and
volunteer with organizations
actively combating racism
against the Asian Pacific
Islander community
Individual fundraisers
• Aggregate GoFundMe to support organizations that
help keep our Asian communities in the Bay Area safe
• GoFundMe for Vicha Ratanapakdee
• Gofundme to Help Rebuild the Vietnamese American
Community Center in Oakland, CA
Bay Area volunteer opportunities
• Jacob Azevedo, a local Oakland resident formed a
volunteer community mutual aid group to walk elderly folks
in Oakland Chinatown. Can email to
join: CompassionInOakland@gmail.com
• Oakland Chinatown Safety
BACK

28. CALL FOR ACTION
6. Be involved with your
company/organization’s
Diversity, Equity and Inclusion
(DEI) space
Join and support Asian Employee Resource Groups
(ERGs) as well as a greater alliance of Asian ERGs
like Asian Leaders Alliance to combat racism together.
BACK