Milestone 2 Assignment

Section One

In today's world, diversity, equity, and inclusion (DEI) in the workplace have become

crucial for companies to flourish. DEI promotes a fair and just workplace and leads to better

innovation, creativity, and problem-solving skills. While some companies have made DEI a core

value, others struggle to implement effective measures to create inclusive environment. I

firmly believe that DEI is not just a buzzword but a fundamental aspect of building a successful

and sustainable organization. HR practitioners are crucial in driving DEI initiatives and creating

a workplace where everyone feels valued, respected, and empowered to contribute their unique

perspectives and skills.

Thesis statement: Promoting diversity, equity, and inclusion (DEI) initiatives is crucial in establishing a fair and inclusive work environment, as these initiatives aim to address systemic inequities, create a more just and inclusive workplace for all employees, and enhance innovation, creativity, and problem-solving skills, despite resistance from some individuals.

Section Two

Despite the developing recognition of DEI's significance, a few critics argue that DEI

tasks are needless, high-priced, and even divisive. They may also query the need for precise DEI

packages or specific concerns about reverse discrimination. Additionally, a few personnel may

resist DEI tasks due to emotions of pain or perceived demanding situations to their very own

positions or privileges. However, DEI initiatives are not just about political correctness or

creating particular advantages for specific groups. Instead, they aim to address systemic

inequities and create more just and inclusive workplace for all employees. Companies can

benefit from better innovation, creativity, and problem-solving skills by promoting diversity,

equity, and inclusion. While some individuals may resist DEI initiatives, it is crucial to

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understand that these efforts are not about giving preferential treatment to any specific group.

Rather, they are designed to ensure everyone has a fair chance to succeed and contribute to the

organization's success. Implementing DEI initiatives requires careful planning and

communication.

Section Three

This essay is primarily directed toward HR practitioners, managers, and personnel

actively involved in or affected by DEI initiatives. Its main objective is to provide practical

guidance and insights for HR professionals seeking to implement effective DEI strategies within

their organizations. This essay can enhance HR practitioners' understanding of DEI standards and

help them develop practical skills for implementing effective DEI initiatives. For managers, it

can offer a deeper appreciation of the importance of DEI and guide how to lead DEI efforts

within their teams. Lastly, this essay can foster a greater understanding of DEI issues and help

employees realize the benefits of working in an inclusive environment.

Section Four

To effectively convince your audience about the importance of diversity, equity, and

inclusion initiatives in the workplace, it is essential to utilize a combination of ethos, pathos, and

logos. You can establish your credibility by citing relevant studies, professional evaluations, and

personal stories proving the need for workplace DEI practices. Doing so can build trust with your

audience and encourage them to take the issue seriously. Additionally, you can appeal to your

audience's sense of justice, equity, and belonging by highlighting the positive impact of DEI

initiatives on individuals and groups. Emphasizing the benefits of a more diverse, inclusive

workplace, such as improved innovation, creativity, and problem-solving skills, can encourage

your audience to see the value of promoting diversity and equality. Finally, it is essential to

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support your arguments with logical evidence, such as data, statistics, and case studies,

demonstrating the effectiveness of DEI practices. This can help address concerns about the cost

or potential for reverse discrimination and

Section Five

A preliminary approach to researching DEI best practices involves conducting a literature

review of instructional literature, scholarly articles, and enterprise reviews. Additionally,

analyzing case studies of companies that have successfully implemented DEI projects and

seeking insights from HR experts, DEI professionals, and organizational leaders with firsthand

experience in DEI implementation through expert interviews can provide valuable information.

Challenges arising during DEI implementation include obtaining buy-in from leadership,

addressing subconscious bias, creating a culture of inclusivity, and measuring and evaluating

DEI progress. Potential objections to DEI initiatives include the misconception that diversity is

sufficient, that DEI is just a fad, will cost too much money, and will disrupt workplace culture.

However, DEI is essential for building a successful and sustainable organization, and the benefits

of DEI are well-documented and include improved innovation, creativity, and problem-solving

skills. The long-term benefits, including improved employee retention, reduced turnover costs,

and enhanced brand reputation, often outweigh the cost of implementing DEI initiatives.

I will now use Keiser University Library Database(s) for more comprehensive results. Here are

two sources I found:

Potential Key Terms

? Diversity

? Equity

? Inclusion

? Unconscious bias

? Microaggressions

• review the Milestone 2 Assignment, compose two Introductions for a Researched Argumentative Essay. The introductions should demonstrate different approaches. Only the thesis statement will remain similar. Then, which introduction you are most likely to use and why.
• first possible introduction.
• second possible introduction.
• commentary on both introductions.
• Write only in 3rd person point of view

All About Diversity, Equity, and Inclusion. (2022, January-February). Tax Executive, 74(1), 58+.

ASK THE EXPERTS All About Diversity, Equity, and Inclusion In this Ask the Experts column, we're taking a slightly different approach. Instead of asking our experts to answer one question, we posed several questions on the crucial topic of diversity, equity, and inclusion (DEI). We covered this subject at our Annual Conference in October, and we wanted to continue the discus- sion with two participants in that session: Katrina Welch, North American director of tax for Gordon Food Service, and Wayne Hamilton, vice president of tax at Walmart Inc. Michael Epstein-Levin, Tax Executive's senior editor, moderated the discussion in late October 2021. Michael Levin-Epstein: What are the key issues Wayne Hamilton: I would add to Katrina's answer, and problems that you think should be addressed Michael, that as tax professionals, we are looking and hopefully solved when it comes to DEI? for tax solutions for complex business problems. And to solve these problems, we need to have Katrina Welch: I think "DEI" is a popular buzz- diverse teams, which we could describe as a broad word of the moment, but there's a lot of meaning representation of people, which would include behind that. Business studies have shown, and I've ethnicity and gender. As Katrina pointed out, experienced personally, as I'm sure others have, that diverse teams tend to end up with better solutions having a diverse team, an environment made up of to problems that we have to solve. The industry has diverse individuals, does provide for greater diver- recognized that there is a lack of representation of sity of thought, greater and richer discussion, more certain groups-gender and ethnicity being the creative ideas, and really just a more interesting two primary areas. Over the years, the industry has and enjoyable workplace. So, how do you achieve been searching for ways to change that represen- that diversity of thought and different perspectives? tation. Said differently, the tax industry has said, I think often it's people that have different back- "We need to fix this problem," and, as a recent study grounds and different experiences, whether it's that by Bloomberg indicated, the problem still persists they're different genders, they have different racial except for a slight increase in the number of women backgrounds, different ethnic backgrounds. And I in the industry. feel like that's still lacking a lot in the tax profession, including in the in-house tax profession. When Levin-Epstein: What are your suggestions to cor- we feel like we make strides, it's difficult to attract porate tax professionals at TEI to bring about this the key candidates that we want to attract, and it's kind of diverse team? difficult to retain them. Hamilton: The changes we need cannot be fixed long-term with putting in place a "policy" To solve "We're really trying to impact our in-house tax the issue of representation, we have to, one, accept that lack of representation is something we need to change and, two, be deliberate about the plans we community, and I think it's going to take all of put in place to address the lack of representation, as this problem is not going to solve itself by us doing us working together. I don't think it's going to nothing. Said differently, we have to decide what is it that we're going to do and what are the specific happen in a minute, but I still think we need steps that we will take as an organization. There to work now, because if we're trying to make are going to be multiple possible solutions, because one solution will not fit every organization, and in things better tomorrow, we need to start fact organizations may need multiple solutions to tackle and ultimately solve the lack of representa- today-or yesterday." tion. Whatever the decision reached, the changes or strategy has to be modeled from the top of the organization. For example, if the head of tax or -Katrina Welch director of tax has no reports that are of a different 62 www.tel.org | Tax Executives InstituteASK THE EXPERTS All About Diversity, Equity, and Inclusion In this Ask the Experts column, we're taking a slightly different approach. Instead of asking our experts to answer one question, we posed several questions on the crucial topic of diversity, equity, and inclusion (DEI). We covered this subject at our Annual Conference in October, and we wanted to continue the discus- sion with two participants in that session: Katrina Welch, North American director of tax for Gordon Food Service, and Wayne Hamilton, vice president of tax at Walmart Inc. Michael Epstein-Levin, Tax Executive's senior editor, moderated the discussion in late October 2021. Michael Levin-Epstein: What are the key issues Wayne Hamilton: I would add to Katrina's answer, and problems that you think should be addressed Michael, that as tax professionals, we are looking and hopefully solved when it comes to DEI? for tax solutions for complex business problems. And to solve these problems, we need to have Katrina Welch: I think "DEI" is a popular buzz- diverse teams, which we could describe as a broad word of the moment, but there's a lot of meaning representation of people, which would include behind that. Business studies have shown, and I've ethnicity and gender. As Katrina pointed out, experienced personally, as I'm sure others have, that diverse teams tend to end up with better solutions having a diverse team, an environment made up of to problems that we have to solve. The industry has diverse individuals, does provide for greater diver- recognized that there is a lack of representation of sity of thought, greater and richer discussion, more certain groups-gender and ethnicity being the creative ideas, and really just a more interesting two primary areas. Over the years, the industry has and enjoyable workplace. So, how do you achieve been searching for ways to change that represen- that diversity of thought and different perspectives? tation. Said differently, the tax industry has said, I think often it's people that have different back- "We need to fix this problem," and, as a recent study grounds and different experiences, whether it's that by Bloomberg indicated, the problem still persists they're different genders, they have different racial except for a slight increase in the number of women backgrounds, different ethnic backgrounds. And I in the industry. feel like that's still lacking a lot in the tax profession, including in the in-house tax profession. When Levin-Epstein: What are your suggestions to cor- we feel like we make strides, it's difficult to attract porate tax professionals at TEI to bring about this the key candidates that we want to attract, and it's kind of diverse team? difficult to retain them. Hamilton: The changes we need cannot be fixed long-term with putting in place a "policy" To solve "We're really trying to impact our in-house tax the issue of representation, we have to, one, accept that lack of representation is something we need to change and, two, be deliberate about the plans we community, and I think it's going to take all of put in place to address the lack of representation, as this problem is not going to solve itself by us doing us working together. I don't think it's going to nothing. Said differently, we have to decide what is it that we're going to do and what are the specific happen in a minute, but I still think we need steps that we will take as an organization. There to work now, because if we're trying to make are going to be multiple possible solutions, because one solution will not fit every organization, and in things better tomorrow, we need to start fact organizations may need multiple solutions to tackle and ultimately solve the lack of representa- today-or yesterday." tion. Whatever the decision reached, the changes or strategy has to be modeled from the top of the organization. For example, if the head of tax or -Katrina Welch director of tax has no reports that are of a different 62 www.tel.org | Tax Executives InstituteCFO TO CFO SF STRATEGICFINANCE HHP Leading the Way by Prioritizing DE&I Bonnie Chan, CFO of H+K International, and Dee Merriwether, CFO of Grainger, stress the importance of DE&I best practices. By Daniel Butcher A recent survey by Willis Towers Watson found that 70% of employers are placing a broader emphasis on diversity, equity, and inclusion (DE&I) strategies as a recruitment and retention tool, but there's more work to do. A report on DE&I in the accounting and finance profession by IMA (Institute of Management Accountants), California Society of CPAS (CalCPA), and the International Federation of Accountants (IFAC), which surveyed more than 8,500 finance and accounting professionals globally, found some startling statistics: Fewer than 60% of respondents of all genders found the profession to be either equitable or inclusive, and 42% of female respondents have left a company due to a perceived lack of equitable treatment or inclusion. In a conversation with Strategic Finance, Bonnie Chan, CFO, COO, and board of directors member at H+K International, and Deidra "Dee" Merriwether, senior vice president and CFO of W.W. Grainger, Inc., talk about the benefits of prioritizing DE&I initiatives and the perils of giving them short shrift. 30 / STRATEGIC FINANCE September 2023CFO TO CFO SF STRATEGICFINANCE HHP Leading the Way by Prioritizing DE&I Bonnie Chan, CFO of H+K International, and Dee Merriwether, CFO of Grainger, stress the importance of DE&I best practices. By Daniel Butcher A recent survey by Willis Towers Watson found that 70% of employers are placing a broader emphasis on diversity, equity, and inclusion (DE&I) strategies as a recruitment and retention tool, but there's more work to do. A report on DE&I in the accounting and finance profession by IMA (Institute of Management Accountants), California Society of CPAS (CalCPA), and the International Federation of Accountants (IFAC), which surveyed more than 8,500 finance and accounting professionals globally, found some startling statistics: Fewer than 60% of respondents of all genders found the profession to be either equitable or inclusive, and 42% of female respondents have left a company due to a perceived lack of equitable treatment or inclusion. In a conversation with Strategic Finance, Bonnie Chan, CFO, COO, and board of directors member at H+K International, and Deidra "Dee" Merriwether, senior vice president and CFO of W.W. Grainger, Inc., talk about the benefits of prioritizing DE&I initiatives and the perils of giving them short shrift. 30 / STRATEGIC FINANCE September 2023ethnicity or gender, then it's harder for diversity to team and I know we have an opening, I can get the be cascaded throughout the organization. word out. Everyone has a role to play. Welch: Wayne had a good point talking about Hamilton: Just to round that out, Michael, I look "modeled at the top," about tone at the top, right? at what can I control and what can I influence. If We can use whatever words we want. We can have we summed up what Katrina just said, I have direct a policy or a program, however well-intentioned, accountability for hiring on my team, and I can but if the leaders aren't living this, if they're not strongly influence hiring practices in the wider tax modeling this, coaching this, holding themselves organization, and then depending on my sphere of and others accountable for it, I don't think we'll see influence, I can be an influencer outside my func- a change. Wayne talked about that we've had some tion. It's understanding the role you play in that Katrina Welch progress, and I appreciate that, but I feel like we still particular moment. For example, if Katrina says, have so far to go. I think if we're not intentional, if "Hey, I'm about diversity," but she doesn't take pro- we keep doing the same things-again, well-inten- active steps to expand her candidate pool to include tioned-we're not going to get a different result. qualified diverse candidates, she has in a sense not taken control of a process she owns. It would then Accountability be disingenuous for her to try and influence me to Levin-Epstein: Whose responsibility is it to bring do something that she's not modeling. about these changes and produce this diverse team? Welch: Right. If it's such a great idea and you Welch: It's a shared responsibility. It is all of us. I believe so strongly in it, where are your actions? mean, it's going to take all of us, right? We're trying to move mountains. We're really trying to impact Getting the Word Out our in-house tax community, and I think it's going Levin-Epstein: I want to follow up on a point that Wayne Hamilton to take all of us working together. I don't think it's Katrina made-actually the expression that you going to happen in a minute, but I still think we used, "getting the word out." How do you go about need to work now, because if we're trying to make getting the word out or recruiting to get folks who things better tomorrow, we need to start today-or would then be part of a more diverse workforce? yesterday. Welch: My strategy when I'm hiring is usually I Hamilton: Michael, I will continue Katrina's tell everyone I know, period [laughter]. So, diverse response by saying it's going to take a village. It's people are part of everyone. But if you're trying going to take everyone in that village to play a role to hire for jobs that normally have people coming in getting this done. And I'll also suggest that there from college or grad school or something like that, are times where you may have to strike out on your you can think about which colleges or grad schools own. If we are waiting on my leader, my supervisor, am I going to, right? Am I going to populations that or my peer to get it done, nothing may happen. have a more diverse student body? That's one way. We have to be willing to ask ourselves if this is a Like Wayne said, there are multiple approaches. journey that begins with me. Hamilton: As part of the answer, Michael, you Welch: Yes, I think that's really good. Exactly. It's reminded me of something that came up in our wonderful if all the leaders make it-like I said, it panel, Katrina. It's not an "or"; it's an "and." And can flow down and everyone joins on the journey what I mean by that is, when we look at hiring, we and all that. But sometimes people think, "I'm just have to determine . . . we all want the best person one person, what can I do?" Well, you can use your for the role, because we are in the business of pro- sphere of influence, right? If I'm a hiring manager, viding tax solutions for complex business problems. maybe I don't hire the whole company, but I at least The crucial question for me is, Where are you look- hire for my team. Even if I'm just a person on a ing for the talent, and how are you going to develop January/February 2022 | Tax Executive 63ethnicity or gender, then it's harder for diversity to team and I know we have an opening, I can get the be cascaded throughout the organization. word out. Everyone has a role to play. Welch: Wayne had a good point talking about Hamilton: Just to round that out, Michael, I look "modeled at the top," about tone at the top, right? at what can I control and what can I influence. If We can use whatever words we want. We can have we summed up what Katrina just said, I have direct a policy or a program, however well-intentioned, accountability for hiring on my team, and I can but if the leaders aren't living this, if they're not strongly influence hiring practices in the wider tax modeling this, coaching this, holding themselves organization, and then depending on my sphere of and others accountable for it, I don't think we'll see influence, I can be an influencer outside my func- a change. Wayne talked about that we've had some tion. It's understanding the role you play in that Katrina Welch progress, and I appreciate that, but I feel like we still particular moment. For example, if Katrina says, have so far to go. I think if we're not intentional, if "Hey, I'm about diversity," but she doesn't take pro- we keep doing the same things-again, well-inten- active steps to expand her candidate pool to include tioned-we're not going to get a different result. qualified diverse candidates, she has in a sense not taken control of a process she owns. It would then Accountability be disingenuous for her to try and influence me to Levin-Epstein: Whose responsibility is it to bring do something that she's not modeling. about these changes and produce this diverse team? Welch: Right. If it's such a great idea and you Welch: It's a shared responsibility. It is all of us. I believe so strongly in it, where are your actions? mean, it's going to take all of us, right? We're trying to move mountains. We're really trying to impact Getting the Word Out our in-house tax community, and I think it's going Levin-Epstein: I want to follow up on a point that Wayne Hamilton to take all of us working together. I don't think it's Katrina made-actually the expression that you going to happen in a minute, but I still think we used, "getting the word out." How do you go about need to work now, because if we're trying to make getting the word out or recruiting to get folks who things better tomorrow, we need to start today-or would then be part of a more diverse workforce? yesterday. Welch: My strategy when I'm hiring is usually I Hamilton: Michael, I will continue Katrina's tell everyone I know, period [laughter]. So, diverse response by saying it's going to take a village. It's people are part of everyone. But if you're trying going to take everyone in that village to play a role to hire for jobs that normally have people coming in getting this done. And I'll also suggest that there from college or grad school or something like that, are times where you may have to strike out on your you can think about which colleges or grad schools own. If we are waiting on my leader, my supervisor, am I going to, right? Am I going to populations that or my peer to get it done, nothing may happen. have a more diverse student body? That's one way. We have to be willing to ask ourselves if this is a Like Wayne said, there are multiple approaches. journey that begins with me. Hamilton: As part of the answer, Michael, you Welch: Yes, I think that's really good. Exactly. It's reminded me of something that came up in our wonderful if all the leaders make it-like I said, it panel, Katrina. It's not an "or"; it's an "and." And can flow down and everyone joins on the journey what I mean by that is, when we look at hiring, we and all that. But sometimes people think, "I'm just have to determine . . . we all want the best person one person, what can I do?" Well, you can use your for the role, because we are in the business of pro- sphere of influence, right? If I'm a hiring manager, viding tax solutions for complex business problems. maybe I don't hire the whole company, but I at least The crucial question for me is, Where are you look- hire for my team. Even if I'm just a person on a ing for the talent, and how are you going to develop January/February 2022 | Tax Executive 63SF: How can accounting/finance professionals contribute to their organization's DE&I initiatives and culture? Meriwetherit for the finance profession. Like many, we have opportunities in the DE&I space. Fewer than one in five CFOs in the S&P 500 and Fortune 500 are female. As a profession, we've doubled that number over the last 10 years-that's good progress-but when you count CFOs with racial and ethnic diversity, the number turns to one in 10. Black CFOs increased Dee Merriwether from 12 to 20 from 2020 to 2021. That's 2.9% of 678 sitting CFOs. Meanwhile, Black Americans represent about 12% of the [U.S.] population. I'm one of the few Black female CFOs in the Fortune 500 today. Mathematically, we can't turn those statistics around unless everyone in the profession plays a role-men and women of every race and ethnicity. Every organization needs to make more meaningful progress to embrace inclusion. SF: How can finance leaders promote advancement in the profession by women, people of color, and LBGTQIA populations? Thany company, I've been charged with the responsibility of driving the progress of our DE&I program. Some of our customers are well-known household names and therefore aligning our goals with our customers' goals on DE&I is very natural. As a result, not only does the senior eadership stand behind the initiatives, but our board of directors also looks for a clear plan to ensure success and periodic reporting to monitor the progress of our people strategy. While buy-in and support from the top are there, our challenges rest with data collection due to decentralized operations across the globe, a lack of a single human resources information system, and inconsistent data definitions in various repositories. This is where finance professionals are well poised to bridge the gap and can truly add value. Unbiased objectivity and a methodical predisposition are ingredients of success when carrying out managerial accounting or similar work. Additionally, corporate performance management doesn't need to stop with financial data. In fact, it's a competitive advantage when HR and governance [personnel] are served and supported by finance to measure status as an initial assessment; analyze the data to uncover insights, patterns, and trends; compare performance with benchmarks such as Equal Employment Opportunity Commission guidance or industry statistics; and present findings to senior management to drive actions. We have to have objective, unbiased measures to get into the plan-do-check-act cycle to drive continuous improvement if we want to see successful outcomes from our DE&I program. Merriwether: The finance profession isn't where it needs to be. So often we approach DE&I issues like other business issues and wait for the business case before we take action. We don't need a business case for this work. It's clear there are opportunities-the population in the U.S. is more than 50% females, but the majority of our profession and the vast majority of senior roles are held by nondiverse males. As a profession, we should be willing to spend time investing in and developing all populations. One area of focus for Grainger is addressing unconscious bias. In 2018, Grainger's Women's Business Resource Group launched unconscious bias training for the top female leaders at Grainger, and in 2019, we invited top male leaders to join the training and the conversation. Last year, all Grainger leaders and team members participated in a learning course about "Managing Unconscious Bias." The course helped us as individuals learn what unconscious bias is and how and why most 31/ STRATEGIC FINANCE September 2023SF: How can accounting/finance professionals contribute to their organization's DE&I initiatives and culture? Meriwetherit for the finance profession. Like many, we have opportunities in the DE&I space. Fewer than one in five CFOs in the S&P 500 and Fortune 500 are female. As a profession, we've doubled that number over the last 10 years-that's good progress-but when you count CFOs with racial and ethnic diversity, the number turns to one in 10. Black CFOs increased Dee Merriwether from 12 to 20 from 2020 to 2021. That's 2.9% of 678 sitting CFOs. Meanwhile, Black Americans represent about 12% of the [U.S.] population. I'm one of the few Black female CFOs in the Fortune 500 today. Mathematically, we can't turn those statistics around unless everyone in the profession plays a role-men and women of every race and ethnicity. Every organization needs to make more meaningful progress to embrace inclusion. SF: How can finance leaders promote advancement in the profession by women, people of color, and LBGTQIA populations? Thany company, I've been charged with the responsibility of driving the progress of our DE&I program. Some of our customers are well-known household names and therefore aligning our goals with our customers' goals on DE&I is very natural. As a result, not only does the senior eadership stand behind the initiatives, but our board of directors also looks for a clear plan to ensure success and periodic reporting to monitor the progress of our people strategy. While buy-in and support from the top are there, our challenges rest with data collection due to decentralized operations across the globe, a lack of a single human resources information system, and inconsistent data definitions in various repositories. This is where finance professionals are well poised to bridge the gap and can truly add value. Unbiased objectivity and a methodical predisposition are ingredients of success when carrying out managerial accounting or similar work. Additionally, corporate performance management doesn't need to stop with financial data. In fact, it's a competitive advantage when HR and governance [personnel] are served and supported by finance to measure status as an initial assessment; analyze the data to uncover insights, patterns, and trends; compare performance with benchmarks such as Equal Employment Opportunity Commission guidance or industry statistics; and present findings to senior management to drive actions. We have to have objective, unbiased measures to get into the plan-do-check-act cycle to drive continuous improvement if we want to see successful outcomes from our DE&I program. Merriwether: The finance profession isn't where it needs to be. So often we approach DE&I issues like other business issues and wait for the business case before we take action. We don't need a business case for this work. It's clear there are opportunities-the population in the U.S. is more than 50% females, but the majority of our profession and the vast majority of senior roles are held by nondiverse males. As a profession, we should be willing to spend time investing in and developing all populations. One area of focus for Grainger is addressing unconscious bias. In 2018, Grainger's Women's Business Resource Group launched unconscious bias training for the top female leaders at Grainger, and in 2019, we invited top male leaders to join the training and the conversation. Last year, all Grainger leaders and team members participated in a learning course about "Managing Unconscious Bias." The course helped us as individuals learn what unconscious bias is and how and why most 31/ STRATEGIC FINANCE September 2023ASK THE EXPERTS "No one is monolithic. Just because you've met are candid about our networks, they tend to look like us. This is called affinity bias. We have to be one person from a specific ethnic group and deliberate about "where I will go network next." If I traditionally network in certain organizations, just you've learned something about that person because of historically that's who's going to belong, you've got to go, "All right, change my network." doesn't mean you can apply what you've And then, what organizations do you support? There are a number of affinity-based organiza- learned to everyone in that ethnic group." tions, for example, the National Association of Black Accountants, the National Bar Association, -Wayne Hamilton historically Black colleges and universities, where you're going to tend to find a larger population of Black [people] and African Americans. There are the talent? Getting the word out comes from two similar organizations for women, Latinx people, things. First, as Katrina said, us taking personal and Asians. These are the type of organizations that responsibility and, second, building a team where you have to tap into. So, Katrina's spot-on. It's net- tax professionals know that organization is a place working, it's affiliations. And then the biggest thing that great talent is respected and developed; it is: This work is not transactional. There's a belief, markets itself. because Katrina showed up at my school, I liked her, she did a great job representing, that some- Welch: That's true. how this is over. To recruit takes time. To change mindsets takes time. And one of the challenges Levin-Epstein: What are some things that TEI we face in corporate America is "my company is a can do as an organization to help their members great company to work for; anyone would want to develop diverse workforces? work here." The reality is not everyone has the same optimistic view of your company. You then have to Welch: I think TEI can help when we're talking spend some time nurturing those relationships, and not only when hiring is involved but also when then they begin to pay off. Katrina has nurtured someone comes on board. To make a workforce relationships over the years; so have I. It comes diverse, that includes everybody, all of us, com- down to, Are you willing to make the appropriate ing together, and you want to give them the tools investment, realizing you're not going to get your to be successful. So TEI can do that. We can be return in year one? intentional about when we're inviting people to be speakers or moderators. Let's not just invite the Levin-Epstein: How can TEI members better share person that has thirty years of experience; invite the best practices and successes with others at TEI? the person that's a little junior, invite people that may not look like you, invite people that may have Welch: I think it's like we talked about, some things a different background, different perspective, to we've already shared: putting our actions where our share. When inviting external speakers, too, take thoughts and our words are, carving out time. We the same approach. Have people that will make just had our Annual Conference. And so we made attendees feel, "wow, that person looks like me" or a panel. Yes, it was a breakout session. We talked "that person's background is similar to mine," and about in the midyear, the next one, maybe making they can identify. This is just a small way to maybe it a plenary session, maybe making it a plenary encourage [attendees]. session over lunch-no one wants to miss lunch, especially a free lunch or no-extra-cost lunch. So, Hamilton: Two things I would add to Katrina's I think just creating an awareness and creating the points. Where are you networking, and what orga- opportunity for additional education for our mem- nizations and institutions are you supporting? If we bers can be part of it. 64 www.tel.org | Tax Executives InstituteASK THE EXPERTS "No one is monolithic. Just because you've met are candid about our networks, they tend to look like us. This is called affinity bias. We have to be one person from a specific ethnic group and deliberate about "where I will go network next." If I traditionally network in certain organizations, just you've learned something about that person because of historically that's who's going to belong, you've got to go, "All right, change my network." doesn't mean you can apply what you've And then, what organizations do you support? There are a number of affinity-based organiza- learned to everyone in that ethnic group." tions, for example, the National Association of Black Accountants, the National Bar Association, -Wayne Hamilton historically Black colleges and universities, where you're going to tend to find a larger population of Black [people] and African Americans. There are the talent? Getting the word out comes from two similar organizations for women, Latinx people, things. First, as Katrina said, us taking personal and Asians. These are the type of organizations that responsibility and, second, building a team where you have to tap into. So, Katrina's spot-on. It's net- tax professionals know that organization is a place working, it's affiliations. And then the biggest thing that great talent is respected and developed; it is: This work is not transactional. There's a belief, markets itself. because Katrina showed up at my school, I liked her, she did a great job representing, that some- Welch: That's true. how this is over. To recruit takes time. To change mindsets takes time. And one of the challenges Levin-Epstein: What are some things that TEI we face in corporate America is "my company is a can do as an organization to help their members great company to work for; anyone would want to develop diverse workforces? work here." The reality is not everyone has the same optimistic view of your company. You then have to Welch: I think TEI can help when we're talking spend some time nurturing those relationships, and not only when hiring is involved but also when then they begin to pay off. Katrina has nurtured someone comes on board. To make a workforce relationships over the years; so have I. It comes diverse, that includes everybody, all of us, com- down to, Are you willing to make the appropriate ing together, and you want to give them the tools investment, realizing you're not going to get your to be successful. So TEI can do that. We can be return in year one? intentional about when we're inviting people to be speakers or moderators. Let's not just invite the Levin-Epstein: How can TEI members better share person that has thirty years of experience; invite the best practices and successes with others at TEI? the person that's a little junior, invite people that may not look like you, invite people that may have Welch: I think it's like we talked about, some things a different background, different perspective, to we've already shared: putting our actions where our share. When inviting external speakers, too, take thoughts and our words are, carving out time. We the same approach. Have people that will make just had our Annual Conference. And so we made attendees feel, "wow, that person looks like me" or a panel. Yes, it was a breakout session. We talked "that person's background is similar to mine," and about in the midyear, the next one, maybe making they can identify. This is just a small way to maybe it a plenary session, maybe making it a plenary encourage [attendees]. session over lunch-no one wants to miss lunch, especially a free lunch or no-extra-cost lunch. So, Hamilton: Two things I would add to Katrina's I think just creating an awareness and creating the points. Where are you networking, and what orga- opportunity for additional education for our mem- nizations and institutions are you supporting? If we bers can be part of it. 64 www.tel.org | Tax Executives Institutepeople experience it in our day-to-day work and identify behaviors to better manage it. By the end of the year, people reported having more awareness of their biases and motivation to take action to reduce bias in the workplace. I'm confident this program's outcomes will help us on our journey to hire, retain, and develop the best talent. SF: How important is it for young people of diverse backgrounds to gain early exposure to Bonnie Chan what an accounting career is all about? Chagress has been made, yet more can be done. Foundational success has to start when young people are still in school. While on an advisory board for a university's business school, I witness how senior finance leaders can make a difference by bringing the younger generation along through speaker bureaus for classrooms, career days, work shadowing at offices by students, internship programs, career fairs, and mentoring SF: Do you see implementation of DE&I strategies as a way to combat the talent DE&$ isntMereweanedelp companies tap into a wider pool of talent by intentionally recruiting from diverse sources and removing barriers that prevent certain groups from applying or being selected for jobs. For example, we focused on partnering with universities outside of the Midwest where we'd typically recruit from. I'm an alumnus of North Carolina A&T State University, where we continue to strengthen our employer brand and attract talent in a challenging market. Chan: Most definitely! The framework of talent retention at my company consists of training, recognition, and rewards. When these three components are working hand in hand with each other, the circle becomes stronger and more difficult to break, hence creating a culture of success and inspiration. We also have a culture club in each location that's sponsored by a senior executive but entirely run by employees. The club members have almost 100% discretion in determining and organizing related activities at a local level. This self-driven type of association gains more credibility than [mandates] pushed from the top. SF: What are essential elements of a corporate DE&| AtpGogirager, Merthirdtherout DE&I at every stage of the team member-from recruiting to retaining to exiting. Many times, companies only think about when diverse candidates join the organization. If those candidates don't feel comfortable in the work environment, then they end up leaving. That isn't sustainable. You need a strong sense of psychological safety, trust, and respect, and an invitation to be authentic. This is why our DE&I strategy is intentionally connected with our talent strategy. We have core programs for every part of our talent strategy that cater to diverse talent. We still have more work to do, but I feel we're on the right track. SF: How can professionals at companies faced with pressure to cut costs make the case to maintain the organization's financial commitment to DE&I even during tough times? Instead of considering the spend on DE&I as a pure cost or burden to the organization, I see the smart spend as a competitive advantage and an investment. We all know happy employees are more productive and are less prone to burnout or job hopping. This is where financial accounting may not present the whole truth of opportunity cost. We simply can't underestimate 32 / STRATEGIC FINANCE September 2023people experience it in our day-to-day work and identify behaviors to better manage it. By the end of the year, people reported having more awareness of their biases and motivation to take action to reduce bias in the workplace. I'm confident this program's outcomes will help us on our journey to hire, retain, and develop the best talent. SF: How important is it for young people of diverse backgrounds to gain early exposure to Bonnie Chan what an accounting career is all about? Chagress has been made, yet more can be done. Foundational success has to start when young people are still in school. While on an advisory board for a university's business school, I witness how senior finance leaders can make a difference by bringing the younger generation along through speaker bureaus for classrooms, career days, work shadowing at offices by students, internship programs, career fairs, and mentoring SF: Do you see implementation of DE&I strategies as a way to combat the talent DE&$ isntMereweanedelp companies tap into a wider pool of talent by intentionally recruiting from diverse sources and removing barriers that prevent certain groups from applying or being selected for jobs. For example, we focused on partnering with universities outside of the Midwest where we'd typically recruit from. I'm an alumnus of North Carolina A&T State University, where we continue to strengthen our employer brand and attract talent in a challenging market. Chan: Most definitely! The framework of talent retention at my company consists of training, recognition, and rewards. When these three components are working hand in hand with each other, the circle becomes stronger and more difficult to break, hence creating a culture of success and inspiration. We also have a culture club in each location that's sponsored by a senior executive but entirely run by employees. The club members have almost 100% discretion in determining and organizing related activities at a local level. This self-driven type of association gains more credibility than [mandates] pushed from the top. SF: What are essential elements of a corporate DE&| AtpGogirager, Merthirdtherout DE&I at every stage of the team member-from recruiting to retaining to exiting. Many times, companies only think about when diverse candidates join the organization. If those candidates don't feel comfortable in the work environment, then they end up leaving. That isn't sustainable. You need a strong sense of psychological safety, trust, and respect, and an invitation to be authentic. This is why our DE&I strategy is intentionally connected with our talent strategy. We have core programs for every part of our talent strategy that cater to diverse talent. We still have more work to do, but I feel we're on the right track. SF: How can professionals at companies faced with pressure to cut costs make the case to maintain the organization's financial commitment to DE&I even during tough times? Instead of considering the spend on DE&I as a pure cost or burden to the organization, I see the smart spend as a competitive advantage and an investment. We all know happy employees are more productive and are less prone to burnout or job hopping. This is where financial accounting may not present the whole truth of opportunity cost. We simply can't underestimate 32 / STRATEGIC FINANCE September 2023ASK THE EXPERTS Hamilton: Continuing to add to that thought, comfortable with being vulnerable to say some- I have two things that come to mind, Michael. thing that may not resonate and [to be] quick The first one is, when you're going to confer- to apologize. I've found that sometimes people ences, have you deliberately sought out someone are just unsure how to start the discussion, and that didn't look like you just to simply talk to so they don't start it. It's just like anyone you them and learn about their story? We all have meet. First time I met Katrina is an example. one. We need to not only do that at the annual We had small chitchat until we figured out what and midyear meetings-this is something that we had in common. After a few minutes we is even more important at chapter meetings. figured it out, and we've been friends for many There are far more chapter meetings in any years. We can call each other and talk about any given year than TEI national meetings. I stress topic. Why? We both made ourselves vulnera- this point, because what we see at the annual ble. If we're having a "sensitive discussion," she's and the midyear is really a subset of a very large quick to say, "Hey, I don't know how you take tax organization. It's the chapters that make the this, Wayne," but we're now at the point where national organization work. What are we doing she does not need to start the discussion that to attract people in the communities where we way anymore. She just knows if she said some- are? Second, the biggest thing that I personally thing that doesn't resonate with me, I will say believe will solve this problem is the idea of something. How you open yourself up to have belonging. If we try to get everyone we meet discussions is being vulnerable [enough] to ask to belong, we solve the problem. We recognize questions and admit when you don't know some- that there is a lack of representation [in] gender thing, and hope the person has enough grace and ethnicity. However, if we strive to get all to to say, "You know what? You said something; I belong, we solve the problem. It's about all of us. wouldn't say it quite that way next time." Just the same way you want X to become a part of the organization, put the same full-court press on Welch: Yes, I think that's great. I couldn't agree me. I'm not asking for anything different. more. I think it's not just awareness and education. I think it's having the conversation, being willing Levin-Epstein: What advice would you give to to ask questions, engage, spend time with people, people to get everyone to actually feel that they get to know them, whether that's your colleague or "belong" at their companies? whoever. Just come from an attitude of openness and really truly wanting to learn, and I think that'll Hamilton: One thing I discovered, Michael, on be respected. You know, I often say things clumsily, this journey is the fear of not knowing and the but well-meaning, and I appreciate when people fear of being embarrassed because you don't say, "Mmm, I don't think you meant it like that, but know something. No one is monolithic. Just I kind of took this this other way." I want people to, because you've met one person from a specific because I'm trying to learn. ethnic group doesn't mean you've met all of them and can use what you've learned to apply to all. Levin-Epstein: I think that's a good way to end this For me, what that means, then, is you have to be Ask the Experts. 66 www.tei.org | Tax Executives InstituteASK THE EXPERTS Hamilton: Continuing to add to that thought, comfortable with being vulnerable to say some- I have two things that come to mind, Michael. thing that may not resonate and [to be] quick The first one is, when you're going to confer- to apologize. I've found that sometimes people ences, have you deliberately sought out someone are just unsure how to start the discussion, and that didn't look like you just to simply talk to so they don't start it. It's just like anyone you them and learn about their story? We all have meet. First time I met Katrina is an example. one. We need to not only do that at the annual We had small chitchat until we figured out what and midyear meetings-this is something that we had in common. After a few minutes we is even more important at chapter meetings. figured it out, and we've been friends for many There are far more chapter meetings in any years. We can call each other and talk about any given year than TEI national meetings. I stress topic. Why? We both made ourselves vulnera- this point, because what we see at the annual ble. If we're having a "sensitive discussion," she's and the midyear is really a subset of a very large quick to say, "Hey, I don't know how you take tax organization. It's the chapters that make the this, Wayne," but we're now at the point where national organization work. What are we doing she does not need to start the discussion that to attract people in the communities where we way anymore. She just knows if she said some- are? Second, the biggest thing that I personally thing that doesn't resonate with me, I will say believe will solve this problem is the idea of something. How you open yourself up to have belonging. If we try to get everyone we meet discussions is being vulnerable [enough] to ask to belong, we solve the problem. We recognize questions and admit when you don't know some- that there is a lack of representation [in] gender thing, and hope the person has enough grace and ethnicity. However, if we strive to get all to to say, "You know what? You said something; I belong, we solve the problem. It's about all of us. wouldn't say it quite that way next time." Just the same way you want X to become a part of the organization, put the same full-court press on Welch: Yes, I think that's great. I couldn't agree me. I'm not asking for anything different. more. I think it's not just awareness and education. I think it's having the conversation, being willing Levin-Epstein: What advice would you give to to ask questions, engage, spend time with people, people to get everyone to actually feel that they get to know them, whether that's your colleague or "belong" at their companies? whoever. Just come from an attitude of openness and really truly wanting to learn, and I think that'll Hamilton: One thing I discovered, Michael, on be respected. You know, I often say things clumsily, this journey is the fear of not knowing and the but well-meaning, and I appreciate when people fear of being embarrassed because you don't say, "Mmm, I don't think you meant it like that, but know something. No one is monolithic. Just I kind of took this this other way." I want people to, because you've met one person from a specific because I'm trying to learn. ethnic group doesn't mean you've met all of them and can use what you've learned to apply to all. Levin-Epstein: I think that's a good way to end this For me, what that means, then, is you have to be Ask the Experts. 66 www.tei.org | Tax Executives Institutethe soft cost of recruiting and onboarding new employees, disruption to operations, How Finance Leaders and loss of continuity. Can Help Their Merriwether: Leaders make key business decisions every day to achieve their Organization Achieve objectives. I don't typically see business DE&I Objectives cases for all of those non-DE&I decisions and investments, so the call to question just the DE&I investments during tough times is odd Grainger's Merriwether says, "CFOs to me. To be bold, the focus on improving and finance leaders should sponsor DE&I DE&I in our workplaces and with our supplier initiatives and get involved. Participate in partners is to ensure that our workplaces your business resource groups. Be active and relationships reflect society and to be in the recruitment, development, and more inclusive in our thinking, practices, actions, and how we invest. sponsorship processes. Communicate with To be inclusive doesn't necessarily mean the organization constantly about the im- that people need to spend more money but portance of achieving long-term objectives rather be more intentional about improving that support inclusion. And seek and listen on their biases. Ask yourself when you're to multiple points of view. Work with your looking to hire for a role whether you've organization's management team to ensure considered all available talent or are you diverse voices are heard at all levels of the just looking in the talent pools you have organization, including the board room. traditionally looked to? If you're about to "In early 2020, we began a program at award a contract to a supplier, have you Grainger called BeBrave conversations to been inclusive with building relationships support our inclusion journey and set us with diverse and nondiverse potential up to be more prepared during the social suppliers? Build relationships early, because unrest that followed that year. BeBrave if you conversations create a safe space between wait until the last step to look for diversity, leaders and their teams to have real con- it'll be too late-you may not know anyone, versations about identity and equality, with or they won't know you or enough about the opportunity to apply. So to answer your an initial focus on race, gender, age, and question plainly, no, I don't feel like tough sexual orientation. We've heard positive times are a reason to diminish our focus on feedback from team members who can DE&I. share their own perspectives and back- grounds and seek different points of view." SF: What's the best way to measure the success of an organization's DE&I efforts? Noemr brethefforts are tied directly to our talent strategy, which is measured through a series of people analytics, such as performance management, turnover, talent acquisition and compensation data, and engagement results. We have a strong set of leading indicators that help us understand our progress vs. only focusing on lagging indicators such as representation. SF: How can accounting/finance leaders become advocates for better reporting of DE&I metrics and benchmarks: Chan: A few metrics can be helpful measuring the long-term success of DE&I initiatives- staff turnover, tenure retention, time gaps between leavers and new hires-but they need to be measured over a long period of time to remove outliers and to observe the trend. The efforts can be cumbersome, yet finance professionals are capable of streamlining the data collection, analysis, and reporting process for longer-term success. Qualitative responses gathered from exit interviews can oftentimes offer insight, but there may 33 / STRATEGIC FINANCE September 2023the soft cost of recruiting and onboarding new employees, disruption to operations, How Finance Leaders and loss of continuity. Can Help Their Merriwether: Leaders make key business decisions every day to achieve their Organization Achieve objectives. I don't typically see business DE&I Objectives cases for all of those non-DE&I decisions and investments, so the call to question just the DE&I investments during tough times is odd Grainger's Merriwether says, "CFOs to me. To be bold, the focus on improving and finance leaders should sponsor DE&I DE&I in our workplaces and with our supplier initiatives and get involved. Participate in partners is to ensure that our workplaces your business resource groups. Be active and relationships reflect society and to be in the recruitment, development, and more inclusive in our thinking, practices, actions, and how we invest. sponsorship processes. Communicate with To be inclusive doesn't necessarily mean the organization constantly about the im- that people need to spend more money but portance of achieving long-term objectives rather be more intentional about improving that support inclusion. And seek and listen on their biases. Ask yourself when you're to multiple points of view. Work with your looking to hire for a role whether you've organization's management team to ensure considered all available talent or are you diverse voices are heard at all levels of the just looking in the talent pools you have organization, including the board room. traditionally looked to? If you're about to "In early 2020, we began a program at award a contract to a supplier, have you Grainger called BeBrave conversations to been inclusive with building relationships support our inclusion journey and set us with diverse and nondiverse potential up to be more prepared during the social suppliers? Build relationships early, because unrest that followed that year. BeBrave if you conversations create a safe space between wait until the last step to look for diversity, leaders and their teams to have real con- it'll be too late-you may not know anyone, versations about identity and equality, with or they won't know you or enough about the opportunity to apply. So to answer your an initial focus on race, gender, age, and question plainly, no, I don't feel like tough sexual orientation. We've heard positive times are a reason to diminish our focus on feedback from team members who can DE&I. share their own perspectives and back- grounds and seek different points of view." SF: What's the best way to measure the success of an organization's DE&I efforts? Noemr brethefforts are tied directly to our talent strategy, which is measured through a series of people analytics, such as performance management, turnover, talent acquisition and compensation data, and engagement results. We have a strong set of leading indicators that help us understand our progress vs. only focusing on lagging indicators such as representation. SF: How can accounting/finance leaders become advocates for better reporting of DE&I metrics and benchmarks: Chan: A few metrics can be helpful measuring the long-term success of DE&I initiatives- staff turnover, tenure retention, time gaps between leavers and new hires-but they need to be measured over a long period of time to remove outliers and to observe the trend. The efforts can be cumbersome, yet finance professionals are capable of streamlining the data collection, analysis, and reporting process for longer-term success. Qualitative responses gathered from exit interviews can oftentimes offer insight, but there may 33 / STRATEGIC FINANCE September 2023not be a systematic way of cataloging the data. The partnership between CFO and CHRO [chief human resources officer] is important to create ongoing communication channels so that the insights and learnings are laddered up and shared. Particularly at budget time, the investments in people need to be reviewed with spend mix such as training, recognition, employee relations, etc., adjusted accordingly to enhance spend effectiveness. Merriwether: Data transparency is crucial. Our DE&I data transparency journey has been ongoing, and we continue to make progress. In 2022, we focused on streamlining access to our data, and many of our teams are building relationships with diverse and nondiverse talent pipelines in the communities they reside in and that we serve. SF: What are the risks to an organization's reputation of not prioritizing DE&I or not thoroughly disclosing its DE&I data/metrics? We frequently hear "people are our assets," but actions speak louder than words. Both organizations and leaders are being judged on being authentic. Continuous improvement is fundamental to the long-term success of DE&I strategy. Merriwether: There are long-term risks and costs to consider-reputational risk is a big one. The workforce of today is very focused on a company's mission, including all areas of ESG [environmental, social, and governance]. Those that aren't intentional about creating an inclusive environment for talent open themselves up to above-market people costs related to higher turnover and lower morale. Daniel Butcher is the finance editor at IMA and staff liaison to IMA's Committee on Ethics. You can reach him at daniel.butcher@imanet.org. 34 / STRATEGIC FINANCE September 2023not be a systematic way of cataloging the data. The partnership between CFO and CHRO [chief human resources officer] is important to create ongoing communication channels so that the insights and learnings are laddered up and shared. Particularly at budget time, the investments in people need to be reviewed with spend mix such as training, recognition, employee relations, etc., adjusted accordingly to enhance spend effectiveness. Merriwether: Data transparency is crucial. Our DE&I data transparency journey ha