The challenge of discrimination has been on the HR, Compliance, and Legal agenda for some time. The COVID-19 pandemic has been accompanied by a rise in discrimination and the systemic racism exposed through the Black Lives Matter movement has once again highlighted the huge problem of inequality for Black people and People of Color.
Although these are all wider societal issues they are workplace issues too. Discrimination, bullying, and harassment have been identified by businesses as key workplace issues long before the events of 2020 and many companies have initiatives in place but companies are looking for ways to move the needle faster.
An online survey of 1,000 HR, Legal, and Compliance professionals working within enterprises in the US and UK found that 65% said discrimination is a form of misconduct they feel their organization should address proactively.
Vault Platform: Your solution for workplace discrimination
The corporate risk spectrum is expanding and with it the remit of the Ethics & Compliance function as well as the requirement for greater collaboration between E&C and HR as the key stakeholders responsible for culture and ethics.
Vault Platform facilitates this multi-stakeholder approach and ensures that anti-discrimination investments are maximized. With a modern and highly accessible intake method, Vault Platform exposes more violations of discrimination policy than incumbent solutions and streamlines the investigation and resolution process.
Speak up solutions to fight systemic discrimination
Vault Platform’s own findings support much more in-depth research that black employees still face systemic discrimination. According to a survey conducted in late 2019 by the Center for Talent Innovation (Coqual) 58% of black professionals have experienced racial prejudice at work – much more than any other racial or ethnic group.
Furthermore, 65% of black professionals say that black employees must work harder to attain the same advancements in their careers as white professionals. Yet only 16% of white professionals agree with that statement.
According to the Human Rights Campaign, LGBTQ employees also face hostility in the workplace. At least 22% of LGBTQ Americans have not been paid equally or promoted at the same rate as their peers and 20% of LGBTQ Americans have experienced discrimination based on sexual orientation or gender identity when applying for jobs. This increases to 32% for LGBTQ people of color (32%).
As regulators and lawmakers take more of an interest in diversity, change is being stimulated by industries themselves. As of 2020, 93% of Fortune 500 companies have non-discrimination policies that include sexual orientation and a similar number that include gender identity. Yet only a single-digit percentage of these companies are fully transparent about the diversity makeup of their workforce.
In December 2020, the Nasdaq stock exchange sent the strongest message yet that listed companies need to take diversity seriously. In a filing with the US Securities and Exchange Commission (SEC) the proposal will require most Nasdaq-listed companies to have at least two diverse directors, including one who self-identifies as female and one who self-identifies as either an underrepresented minority or LGBTQ+. Companies that are not able to meet these requirements must be able to publicly explain why.
how Vault Platform helps your company expose and resolve discrimination
Reveal and resolve
misconduct in your workplace
Data & Analytics
A trust platform with
security at the core
Vault Platform’s core application is to facilitate trust between companies and their people and to help to create working environments that are inclusive, diverse, productive and safe. This is why we consider security and data privacy to be critical components of our platform and why both are at the foundation of everything we do.