Business Roundtable Announces Initiatives to Advance Racial Equity
October 16, 2020
The BRT announced corporate initiatives and public policy recommendations to reduce the economic opportunity gap in communities of color in employment, among other areas, calling for voluntary pay equity analyses and disclosure of key diversity metrics.
The BRT report includes the following corporate disclosure initiatives:
- To track progress towards corporate diversity, the BRT supports voluntary public disclosure of key diversity metrics on at least an annual basis, including board diversity, senior executive diversity, workforce diversity and supplier diversity.
- Companies should conduct periodic pay equity reviews and regular pay equity analyses, and implement processes to review and close gaps.
The report also supports the following health care reform recommendations:
- Increase health coverage in communities of color through outreach and education efforts and by exploring ways to enroll eligible individuals in coverage automatically;
- Expand reimbursement of telehealth services and ensure that states have the flexibility to offer a full year of Medicaid coverage to new moms;
- Expand scholarship and loan repayment programs for minorities to address health care workforce shortages and bolster workforce diversity; and
- Establish grant programs to help states and communities determine, implement and measure the most effective social determinants of health interventions for their needs and expand innovative payment models that address the social determinants of health.
Going forward: BRT member CEOs “are stepping forward to make philanthropic investments, update employment practices and innovate within their businesses.” They will continue to engage with policymakers to advocate for these changes.