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Tag: diversity

  • 5 Ways to Support Women-Owned Businesses | Entrepreneur

    5 Ways to Support Women-Owned Businesses | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Women entrepreneurs face unique challenges in starting and growing their businesses. Some of these challenges are very familiar: limited access to funding, lack of mentorship and bias that many experience in the marketplace.

    Supporting women-owned, small businesses is not only a matter of closing the gender gap but also a way to boost the economy and foster innovation. Shifting habits and cultural norms can seem impossible, but making these significant changes in behavior can be done in small, straightforward ways. These small habits add up to monumental change. Here is a list of the best ways to support women-owned businesses and empower women entrepreneurs:

    1. Shop at women-owned businesses

    One of the most direct ways to support women-owned businesses is simply to spend your money with them. Women entrepreneurs are represented in virtually every industry, from retail to technology to professional services. You can find women-owned businesses in your local area or online. There are dedicated directories on a local, national or regional basis to assist in locating these businesses.

    When you shop at a woman-owned business, you support not only the owner but also the employees, suppliers and the community surrounding that business. Women-owned businesses positively impact the local economy by creating jobs and increasing the tax base. In choosing to spend your money at women-owned businesses, you are making a statement about the importance of gender diversity in the marketplace.

    Related: Why Investing in Women-Led Startups Is the Smart Move

    2. Spread the word

    Spreading the word about women-owned businesses is an excellent way to support them. When you use your social media channels or personal networks to share information about the women-owned businesses you buy from, you are helping to build knowledge and increase awareness of these businesses and that there are choices in the marketplace.

    Word of mouth is “old school,” but still one of the most powerful ways for any business to gain traction. Using your personal and professional networks to promote women-owned businesses and sharing that information with your friends and family members can help drive immediate revenue. It can also help expose that business to its next big opportunity.

    3. Attend events

    Attending events organized by women-owned businesses is a great way to show your support and learn more about their products and services. Many women-owned businesses host pop-up shops, networking events or workshops. These events can be an excellent opportunity to meet the owner, connect with other supporters, and learn more about the business.

    Attending events also shows the owner that their business is valued and appreciated. When you attend an event, you support the owner and the other attendees and vendors. This can create a sense of community and support that can help the business thrive.

    Related: A Look Back at Women’s Entrepreneurship Over the Last 35 Years — and How We Can Change the Future for Women Business Owners

    4. Write reviews

    Leaving positive reviews after shopping online, leveraging review platforms like Yelp, Google, or Trust Pilot or writing a review and sharing it on social media is another way to support women-owned businesses. Reviews can influence potential customers’ purchasing decisions, help increase the business’s visibility online, and encourage others to support those businesses. When you leave a positive review, you support the owner, the employees and other stakeholders.

    It’s also important to note that negative reviews can significantly impact a small business, so it’s essential to be thoughtful and constructive in your feedback. If you have a negative experience with a women-owned business, consider reaching out to the owner directly to share your concerns and allow them to address the issue before taking it public.

    Related: Studies Suggest It’s Good Business to Hire Women Over Men. Here’s Why.

    5. Partner with women-owned businesses

    If you own a business or work in a related field, consider partnering with a woman-owned business to offer joint promotions, events, or services. Partnering with a woman-owned business can help you reach new customers and grow your business while supporting another entrepreneur.

    When you partner with a women-owned business, you can share resources and expertise to help each other succeed. This type of collaboration sends a strong message and can create a sense of community and support that can benefit both businesses.

    These are simple things you can do every day that will directly impact your community and the large economy. What are you waiting for?

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    Kate Isler

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  • Adidas to start selling stockpile of Yeezy sneakers later this month

    Adidas to start selling stockpile of Yeezy sneakers later this month

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    Adidas says it will begin selling its more than $1 billion worth of unsold Yeezy sneakers later this month

    ByANNE D’INNOCENZIO AP Retail Writer

    FILE – A sign advertises Yeezy shoes made by Adidas at Kickclusive, a sneaker resale store, in Paramus, N.J., on Oct. 25, 2022. Adidas said Friday, May 19, 2023, that it will begin selling its more than $1 billion worth of leftover Yeezy sneakers later this month, with the proceeds to be donated to various anti-racism groups. (AP Photo/Seth Wenig, File)

    The Associated Press

    NEW YORK — Adidas said Friday that it will begin selling its more than $1 billion worth of leftover Yeezy sneakers later this month, with the proceeds to be donated to various anti-racism groups.

    The German sportswear brand said recipients will include the Anti-Defamation League, which fights antisemitism and other forms of discrimination, and the Philonise & Keeta Floyd Institute for Social Change, run by social justice advocate Philonise Floyd, the brother of George Floyd.

    “After careful consideration, we have decided to begin releasing some of the remaining Adidas Yeezy products,” said Adidas CEO Bjorn Gulden in a statement. “Selling and donating was the preferred option among all organizations and stakeholders we spoke to. There is no place in sport or society for hate of any kind and we remain committed to fighting against it.”

    Yeezy products have been unavailable to shoppers since Adidas terminated its partnership with Ye, formerly known as Kanye West, in October 2022 following his antisemitic comments on social media and in interviews.

    The items to be sold include existing designs as well as designs that were in the works in 2022 for sale this year, Adidas said.

    At Adidas’ annual shareholders meeting earlier this month, Gulden said the company had spent months trying to find solutions before deciding against destroying the items and to rather sell them to benefit various charities that were harmed by what Ye said.

    The company said Friday that the move has no immediate impact on the company’s current financial guidance for 2023.

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  • Adidas to start selling stockpile of Yeezy sneakers later this month

    Adidas to start selling stockpile of Yeezy sneakers later this month

    [ad_1]

    Adidas will begin selling its more than $1 billion in unsold Yeezy sneakers later this month

    ByANNE D’INNOCENZIO AP Retail Writer

    NEW YORK — Adidas said Friday that it will begin selling its more than $1 billion worth of leftover Yeezy sneakers later this month, with the proceeds to be donated to various anti-racism groups.

    The German sportswear brand said recipients will include the Anti-Defamation League, which fights antisemitism and other forms of discrimination, and the Philonise & Keeta Floyd Institute for Social Change, run by Philonise Floyd, the brother of George Floyd who became a social justice advocate.

    “After careful consideration, we have decided to begin releasing some of the remaining Adidas Yeezy products, “ said Adidas CEO Bjørn Gulden in a statement. ”Selling and donating was the preferred option among all organizations and stakeholders we spoke to. There is no place in sport or society for hate of any kind and we remain committed to fighting against it. “

    Yeezy products have been unavailable to shoppers since Adidas terminated its partnership with Ye, formerly known as Kanye West, in October 2022 following his antisemitic comments on social media and in interviews.

    The items to be sold include existing designs as well as designs that were in the works in 2022 for sale this year, Adidas said.

    At Adidas’ annual shareholders meeting earlier this month, Gulden said the company had spent months trying to find solutions before deciding against destroying the items and to rather sell them to benefit various charities that were harmed by what Ye said.

    The company said Friday that the move has no immediate impact on the company’s current financial guidance for 2023.

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  • How American Workers Feel About ‘Woke’ Policies At Work

    How American Workers Feel About ‘Woke’ Policies At Work

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    Even as conservatives rail against “woke” workplaces, and target diversity, equity and inclusion programs in businesses, a new report from Pew Research shows that most Americans think DEI policies make offices better.

    “DEI” is broadly described as policies and principles that promote belonging in an organization, especially among historically marginalized groups like women, racial minorities and people with disabilities. Sixty-one percent of the Pew survey respondents said their workplace has policies in place to ensure fairness in pay and promotion, and 52% said their office had DEI training or meetings.

    Fifty-six percent of respondents said that focusing on DEI policies at work is a good thing, while 28% said it’s neither good nor bad, according to the survey results published Wednesday. Only 16% of respondents said that focusing on such policies is a bad thing.

    Though some conservatives claim that workers are being inundated with DEI messaging, 54% percent of survey respondents said their job pays the right amount of attention to DEI. Only 14% said their job gives too much attention to it.

    Women, people of color, young people and Democrats were much more likely than other groups to say DEI policies are good.

    Fifty-seven percent of respondents said DEI meetings and training had a positive impact at work, while 9% said they had a negative impact. Republicans were less likely than Democrats to say that such programs had a positive impact, but there was a notable gender divide — 47% of Republican women said DEI training was helpful, compared to just 28% of Republican men.

    Thirty-six percent of all respondents said that being a man makes things easier at work. Forty-four percent of women said being a man makes it easier at work, while 29% of men said the same. More than half of Black and Asian people in the survey said that being white makes it easier at work, while only 24% of white people said the same.

    Very low percentages of people of each race said that being a person of color can put them ahead, suggesting the idea that workplace DEI policies hold back white workers is not a very popular one.

    As racial justice protests spread across the country after the 2020 murder of George Floyd in Minneapolis, many workplaces put an increased emphasis on DEI programs. Three years on, conservatives are still leading a coordinated backlash to the rise in support for racial equity ― claiming that DEI policies and efforts to include marginalized communities necessarily happen at the expense of privileged groups like white people and men.

    When Silicon Valley Bank failed this spring, largely because of deregulation policies championed in 2008, some conservative politicians blamed the company’s DEI measures. Sen. Josh Hawley (R-Mo.) called the institution “too woke to fail.”

    Some Republican-led areas have even begun blocking DEI programs from public institutions. In Michigan, Ottawa County dismantled the local government’s DEI programs earlier this year, leaving residents worried about what it will mean for marginalized groups. And Florida Gov. Ron DeSantis (R), a leader in the conservative culture wars, just signed a law that defunds DEI programs at the state’s colleges and universities and limits how professors can approach the topic of race in their courses.

    “DEI is better viewed as standing for ‘discrimination, exclusion and indoctrination.’ And that has no place in our public institutions,” DeSantis said at a press conference on Monday. “This bill says the whole experiment with DEI is coming to an end in the state of Florida.”

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  • The Developer Shortage Crisis Could Devastate The Tech Workforce. Here’s Why. | Entrepreneur

    The Developer Shortage Crisis Could Devastate The Tech Workforce. Here’s Why. | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    If you work in technology, you’ve likely seen the headlines bemoaning the ongoing developer shortage. Demand for skilled developers has increased steadily over the last few years, but the supply has failed to keep up. The International Data Corporation (IDC) has predicted a global shortfall of four million developers by 2025. If we don’t act now, the global talent shortage could result in approximately $8.5 trillion in unrealized annual revenues by 2030.

    So what can we do about it?

    Recently, I attended the SXSW festival in Austin and led a panel with industry leaders from Salesforce, Morgan Stanley and Estée Lauder to address this question. Throughout the conversation, it became clear that our solutions must go beyond establishing a more robust job fair at the top universities. To tackle the developer shortage, the entire industry must undergo a paradigm shift, prioritizing diversity, education and policy to realize change and secure the future of all tech-enabled businesses. ChatGPT will only take us so far.

    Tap into new pools of talent

    Tech has primarily pulled candidates from the same finite talent pool for decades. The problem is that this pool does not reflect the diversity of the world around us. 62% of all tech workers are white, and 75% are male. Relying on this extremely limited and homogenous source of talent has put the industry in a bind. Companies are unable to fill open positions, yet, there are large groups of people who have been shut out of the industry. What would the developer shortage look like if we enlarged our talent pools to better include women, people of color, global workers, people with disabilities and formerly incarcerated people?

    We cannot continue returning to the same empty pot and expect gold to suddenly appear. We cannot expect to find 4 million new developers by 2025 from the same pool.

    As leaders, we need to consider groups we may have dismissed due to old biases and ask ourselves, “How can we tap into new pools of talent?”

    Related: 4 Reasons Low-Code Tools Will Never Replace Software Developers

    Utilize non-traditional methods

    Fostering a new generation of developers means organizations must implement non-traditional methods to identify and attract talent.

    First, look at your job descriptions — are they accessible to those with unconventional backgrounds? Do away with degree requirements and develop job descriptions that focus less on credentials and more on the skills necessary to succeed in the role. Furthermore, train hiring managers and recruiters to untangle their biases and identify transferable skills in a candidate’s application.

    Skills can be taught, but passion and creativity are much harder to come by. One can typically upskill an employee in weeks or months, but changing someone’s behavior will take years at best. Don’t allow erroneous requirements like a four-year degree to get in the way of hiring someone who could bring a vital perspective to your team.

    We should also consider how we can adapt our workflows to drive inclusion and belonging. For example, the prevalence of remote work has opened up many opportunities for those living with a physical disability. Pre-pandemic, many workplaces wouldn’t consider an applicant if they couldn’t come to the office. Moving forward, we must educate ourselves on other areas of our work that might be unwittingly exclusionary and adapt accordingly so all have the chance to contribute. It takes leadership and teams a lot of learning to properly include everyone.

    Related: How Software Developer Freelancers are Filling the Skill Gap

    Nurture the talent pool

    If we only look for talent when we need them, we will likely default to old biases and hire the first developer that checks all our boxes. The onus is on organizations to actively build and nurture an expanded talent pool through education, training and support.

    Organizations must invest in STEM education outside the traditional and expensive four-year degree. What can we be doing as companies to expand access to tech education and accreditation? At Salesforce, they partner with schools to provide access to computers and coding classes to bring tech to students early in their learning journey. There are also programs like Microsoft’s Accelerate, which provides free courses and resources to underserved communities to equip them with the necessary skills to participate in the tech sector.

    Still, education alone is not enough. My company recently partnered with a non-profit and a higher education institution in Brazil to help underserved communities access tech jobs. Although these students had completed their computer science degree — while holding a full-time job in another area —many still didn’t feel confident applying for a job in tech or even creating a Linkedin profile. We quickly realized it was essential to build a bridge from the hard skills learned in class to the soft skills they need to get a job, including networking, interviewing and seeking out opportunities. Gaining the credential is one thing, but if a person doesn’t know how to use it in the job market, they won’t get far.

    During the question portion of the panel, a student and young entrepreneur asked how companies can incentivize and publicize developer boot camps for young people. He suggested focusing on community-centered approaches — going into underserved communities and providing educational resources. We shouldn’t expect people to come to us, we have to make the effort to reach out to them.

    It’s on us to create holistic solutions along every step of the pipeline, providing the necessary structure, support, and emotional safety for marginalized groups to confidently apply for tech jobs.

    Related: Why Low-Code Platforms Are the Developer Shortage Solution People Aren’t Talking About

    Act as an ecosystem

    There’s a visibility gap, not a talent gap in the developer industry. Finding non-traditional and creative approaches to identify and evaluate talent is how we can help our companies see the talent they may think is lacking.

    We must find solutions that help foster and develop talent from its earliest stages and connect more into initiatives with nonprofit organizations working with underserved communities to create solutions that work for them and with them.

    Most importantly, we will all fail if we compete to develop talent. The challenge at hand requires us to scale and to scale properly. We must work together to build an ecosystem with partners across industries — even those we may consider competitors.

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    Leonardo Mattiazzi

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  • 3 Proven Ways to Hire (and Keep) Diverse Talent | Entrepreneur

    3 Proven Ways to Hire (and Keep) Diverse Talent | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    One of the most common diversity, equity and inclusion strategies over the last decade has been to diversify hiring processes. The temptation to hit the “easy button” and fill front lines and open positions with women, people of color, those with disabilities and other marginalized communities is opportunistic and inauthentic. If you’re not creating an environment for diverse talent to thrive, diverse talent will not stay. This requires a more holistic approach, rather than a simple hiring fix.

    To take a more holistic approach to hiring diverse talent, consider:

    • Broaden where you recruit
    • Remove bias from the hiring process
    • Hold recruiters and hiring managers accountable for diverse representation

    Related: 10 Ideas to Drive Your DEI Initiatives in 2023

    Broaden where you recruit

    If you went fishing and didn’t catch any fish would you blame the fish? Or if you were gardening and had trouble growing plants, would you blame the flowers? It is more likely that you would shift your approach to catch more fish or grow more plants. Yet, with diverse talent, we often blame them for not applying or not being “qualified.”

    Instead, shift your approach much like you might shift your approach with other ineffective techniques. There are lists of organizations that can help place diverse talent. Folks from diverse backgrounds will check peer-reviewed websites like Glassdoor and reach out to people that work at the organization, as well as comb through the corporate website to see if it’s truly a diverse and inclusive workplace. After many corporate promises were not delivered, there is an increased skepticism by potential employees to be cautious when evaluating employers. Compensation and benefits (although important) are table stakes, with culture and flexibility taking precedence over traditional worker priorities.

    And time developing relationships with HBCUs, diverse networking groups and building a reputation for inclusion first before showing up on campus and at events declaring diversity is important. Actions speak louder than words. Candidates from diverse backgrounds have never been so highly sought after and they can be choosy with their employment in ways they have not been afforded in the past. Do intentional and consistent work and candidates might believe it.

    A diversity recruitment strategy outlines the organization’s goals and approach to recruiting diverse talent. This strategy should explain outreach efforts to underrepresented communities and track success, pivoting as strategies work or need to adjust to meet candidate needs.

    Related: 5 Tips for Finding Diverse Candidates That Make Dollars and Sense

    Remove bias from the hiring process

    The hiring process is riddled with bias. if we don’t have systems to address bias, then bias is invited into the process. Most hiring managers admit they hire people they would like to spend time with vs. people that are most qualified for the position.

    Use inclusive language in job postings to attract a diverse pool of candidates. Avoid using gendered language and be specific about the skills and qualifications required for the position. If a job posting has a requirement that people doing the job do not currently fulfill, it’s not a requirement.

    Ensure that the interview slate of candidates and a panel of interviewers are diverse and represent the organization’s commitment to diversity and inclusion. This sends a clear message to candidates that the organization values diversity.

    Manage personal bias in the hiring process. There are many biases that play into the hiring process. To find diverse talent, recruiters and hiring managers need to be aware of their potential biases and be prepared to manage them. Bias is not bad; bias is human. Inclusive leaders manage their biases knowing they can never fully remove them. Some include:

    • Potential vs. performance bias: Those in the majority group (white, straight, cisgender, able-bodied men) tend to be evaluated on potential. Women, people of color and those from underrepresented groups tend to be evaluated based on actual performance. This means that the starting point is different for people based on identities they can’t control. Be cognizant of this bias with clear objective criteria to evaluate candidates so this bias does not creep in.
    • Caregiving vs. providing bias: Women are often assumed to be caregivers whereas men are assumed to be providers. This stereotype may be true, yet it certainly is not always the case in modern culture. The traditional family with men being the primary owners and women being stay-at-home has shifted significantly in the last few decades, yet our brains are still wired to connect women with caregiving and men with providing. This leads to an unfair advantage where men as seen as more committed or stable compared to women. Question assumptions about women’s caregiving responsibilities equitably to men.
    • Cultural fit vs. cultural add bias: When people say they’re a good cultural fit, it’s usually code for they like us. Humans have an affinity or like me bias and like to surround themselves with people they feel comfortable with, usually of their identities. This is an obvious challenge if we want to diversify our workforce, we need to look at people from different backgrounds as cultural adds. This doesn’t mean that they’re not aligned with our core values and beliefs, yet they bring a different perspective. Asking the question, “What perspective does this person add?” can help combat this bias.

    Related: Business Leaders Need to Take Inclusive Language More Seriously — Here’s Why.

    Hold recruiters and hiring managers accountable for diverse representation

    What gets measured gets done. Without clear expectations, managers resort to past methods. If we want more diversity, we have to do things differently. The status quo is the enemy of diversity. Accountability begins by:

    • Setting clear expectations: Clearly communicate the organization’s diversity and inclusion goals and expectations for diverse hiring to all managers. This can include specific targets for diverse hiring and a commitment to eliminating bias in the recruitment and selection process. The goal is to improve, not set quotas or force diversity when it is not possible yet.
    • Establishing metrics and tracking: Establish metrics and tracking mechanisms to measure the effectiveness of the organization’s diverse hiring efforts. This can include tracking the diversity of candidate pools, monitoring the progress of diverse hires and measuring the impact of diversity and inclusion initiatives on employee engagement and retention.
    • Incorporating diversity into performance evaluations: Incorporate diversity and inclusion goals into managers’ performance evaluations to hold them accountable for diverse hiring. This can include evaluating managers based on the diversity of their hires, their efforts to eliminate bias in the recruitment process and their ability to create an inclusive work environment.
    • Recognizing and rewarding success: Recognize and reward managers who are successful in hiring and retaining diverse talent. This can include public recognition, promotions and bonuses for achieving diversity and inclusion goals.
    • Addressing non-compliance: Hold managers accountable for non-compliance with diversity and inclusion goals through disciplinary action. This can include coaching, training and, in some cases, termination of employment.

    Despite positive intentions to diversify hiring processes, leaders often struggle to find diverse talent. They cite the lack of applicants as evidence that diverse talent does not exist and is not attracted nor qualified to work at their organization. However, when diversity recruiting and hiring are given a strategic approach, results shift. There are three proven ways to diversify talent acquisition: broaden where you recruit, remove bias from the hiring process and hold recruiters and hiring managers accountable for diverse representation.

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    Julie Kratz

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  • How to Close Your Wage Gap and Open Equity at Work | Entrepreneur

    How to Close Your Wage Gap and Open Equity at Work | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    The wage gap might seem like old news, but things aren’t improving. For some populations, the wage gap has even widened since the pandemic.

    Women and people of color were disproportionately impacted by unemployment and more likely to experience an “earnings penalty” when returning to work. According to Payscale’s 2023 State of the Gender Pay Gap Report, women of color in particular experience the widest pay gap. For every dollar white men earn, American Indian women make 72 cents, Hispanic women make 79 cents, and Black women make 80 cents.

    This means that women of color are more likely to occupy lower-paying jobs or be paid less, even if their experience levels are identical. They’re also more likely to face hiring biases and become targets of discrimination, racially driven prejudice and reduced advancement opportunities. Is it any wonder that women have been exiting the workforce so much more than men?

    Pay equity is a key approach in combating how people are treated differently at work. You must first address any wage gaps to progress your diversity, equity and inclusion goals. Without pay equity, DEI goals are unreachable because old systems will limit the people you’re trying to help. That’s why 63% of organizations surveyed by Payscale are planning a pay equity analysis in 2023.

    By identifying and solving unfair salary distribution, your organization will become a more welcoming place with fewer barriers to attracting and retaining diverse talent. Here’s how you can close your wage gap:

    Related: 5 Ways Women Can Fight the Gender Pay Gap (Besides Asking for More Money)

    1. Acknowledge the reality of conscious and unconscious bias

    Even today, a lot of bias exists. This is especially true in recruitment. Many women and people of color are still overlooked for jobs and promotions. Case in point, from the Payscale report: Women are systematically penalized for résumé gaps (a common phenomenon among working mothers). They’re also less likely to get the chance to climb the corporate ladder as they age.

    Any kind of bias will present a roadblock to pay equity. Therefore, talking about bias and pinpointing instances of concern is essential. Listening to your employees is the first step in discovering where biases and inequities exist.

    Give employees a platform to provide anonymous feedback and ask questions to determine if and where they see growth opportunities. What is the company doing to support and uplift employees seeking upward mobility? Does everyone have equal access to those resources? Some biases may not be as clear depending on your position within the company. A good first step is asking the right questions.

    2. Undergo an annual pay equity analysis

    A pay equity audit compares how benefits and salary packages line up with outside industries across similar job roles and expectations. It’s impossible to have any pay equity impact if you don’t know your pay gap numbers. That’s why organizations conducting a yearly pay equity analysis are better positioned to measure and close their pay gaps.

    Unfortunately, only 47% of companies that conduct gender wage gap analyses release information about their performance, according to JUST Capital. Microsoft, for example, recently announced that it added to its pay equity analyses to review pay for women in its five biggest markets outside the United States. The company now reports salary ratios of 1.001 (with 1.00 being perfect parity).

    Remember that wage gaps aren’t just a pay discrimination issue; they’re an inclusive workforce issue. Being transparent about and resolving pay equity concerns enables your company to level out the playing field.

    Related: From Meta to McDonald’s, Here’s How Major Companies are Working to Close the Gender Pay Gap

    3. Encourage pay transparency to close existing pay gaps

    After noting where pay gaps and other barriers exist, you’ll want to address them. Not only does this take an investment of resources, but it also requires dedication. Shifting long-standing workforce cultures can be daunting. However, leaning into your DEI initiatives can help break the workplace biases stemming from long-held beliefs that no longer fit the current climate.

    You can better align yourself with the changing marketplace by encouraging people to talk about their pay. Although salary has long been treated as a taboo subject, being open about salaries can break down pay gaps by exposing pay inequity. It can also make your company more appealing to Gen Z.

    According to Beqom, seven of 10 Gen Zers say pay transparency is important enough to consider switching jobs. It’s nearly impossible for companies to ignore a glaring pay gap if everyone speaks up, which is one of the benefits of pay transparency.

    4. Normalize talking about pay gaps and pay equity

    When interviewing potential candidates, don’t shy away from talking about salary expectations. It’s only fair for candidates to advocate for a salary based on their years of experience, job function, broader market conditions and the regional cost of living. Embracing these early conversations will help you improve pay equity. And if you can’t meet a candidate’s expectations, you can explain why and develop a plan to reach their goal through measurable milestones.

    If you have direct reports, examine their salaries regularly, and alert your HR department if there’s a wage gap. The more motivated you are to be a champion for your team, the more you’ll influence others to follow your lead. Ultimately, you’ll help foster a diverse culture where no one fears retaliation or criticism when discussing wages.

    The wage gap is a real issue today, presenting roadblocks to achieving DEI success. However, if you work to achieve pay equity, you can make your organization a better place for all.

    Related: How to Drive Concrete Change in a World Where Unequal Pay Is Still the Norm

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    Claire Anderson

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  • What makes an award-winning board? This CFO and director says its leadership and culture

    What makes an award-winning board? This CFO and director says its leadership and culture

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    This week, Fortune released its Modern Board 25 list that features the most innovative boards of directors among S&P 500 companies. Marie Myers, CFO at HP Inc., is on the board of F5, a Seattle-based cyber security and application delivery firm, which earned the No. 1 spot on the list.

    Myers isn’t on HP’s board of directors, which earned the No. 7 spot, but as CFO, she regularly interacts with the board. The Modern Board’s ranking is based on criteria including the expertise, independence, diversity, and tenure of board membership. Myers shares with me her perspective on why both boards work so well.

    “I believe leadership and culture are what make F5 and its board so effective, and those traits are what first drew me to joining its board,” says Myers, who joined in January 2019. “CEO Francois Locoh-Donou is a phenomenal leader, as is Alan Higginson, the chairman of the board. Together they have built a board that reflects the company F5 aims to be. It’s not just what it does, but also how it does it.”

    She continues, “F5’s human-first and high-performing culture fosters inclusivity and purpose among employees and the board. A lot of companies strive to be inclusive, but at F5 it happens naturally.”

    There’s also a high degree of collaboration between the board and the leadership team, and chemistry is a factor, Myers says. “Chemistry is why the board and leadership come together organically outside of the normal schedule of board meetings to discuss evolving situations and tackle complex business matters,” she says.

    A combination of her experience, “passion for digital transformation,” and financial acumen, have all been especially useful in the director role, Myers explains. “Similarly, having the opportunity to participate in several large-scale transformations in my career provides a great foundation to navigate the broader environment at the board level,” she says.

    ‘CFOs need to be knowledgeable about all aspects of the business’

    Myers, who has nearly 25 years of experience at HP, became the tech giant’s acting CFO in 2020 and was named CFO in 2021. Before being named CFO, Myers served as HP’s chief transformation officer, where she led the company’s IT and Transformation organizations.

    “I’ve always been proud of the fact that HP’s board is one of the most diverse in the technology industry,” Myers says. “There is a broad mix of gender, age, ethnicity, and experience. This brings diversity of thought to every discussion and challenge the board and our company faces.” There’s chemistry among HP’s board and leadership team, as well, she says.

    Any advice for CFOs when forging a relationship with the board? “The role of the CFO is evolving beyond traditional finance and accounting boundaries,” Myers explains. “For example, leveraging data and analytics to become more strategic advisors and partners to the business. This is also true of CFO interactions with the board.”

    She continues, “I think it’s important to establish a direct and collaborative relationship with board members. Today’s CFOs need to be knowledgeable about all aspects of the business, have a broad and informed view of the company, and share their unique insights with the board, not just financials.”

    Her most important advice: “Above all, CFOs need to communicate with transparency and always act with integrity to build trust and credibility with the board,” Myers says.


    Enjoy your weekend, and have a Happy Mother’s Day. See you on Monday.

    Sheryl Estrada
    sheryl.estrada@fortune.com

    Big deal

    Gallup released a report on Thursday regarding Americans’ perceptions of the best long-term investment, and gold is perceived to have more value than stocks. Real estate came in first as the best bet for a long-term investment (34%). This is down from last year’s record-high of 45%. “Higher interest rates over the past year have cooled the housing market, dampening consumer exuberance about real estate as an investment,” according to Gallup.

    The perception that gold is best increased from 15% in 2022 to 26% today. As a result, gold has overtaken stocks for second position. This year, fewer Americans (18%) than in 2022 (24%) see stocks or mutual funds as the best investment due to U.S. stock indices failing to gain ground over the past year. Today’s preference for stocks is on the low end of the 17% to 27% range of Americans choosing it since 2011, the research found. The latest poll was conducted April 3-25.

    Courtesy of Gallup

    Going deeper

    Here are a few Fortune weekend reads:

    The next CEO of Twitter, replacing Elon Musk, could be this NBC ad executive—or one of these other high-powered woman execs” by Andrea Guzman and Kylie Robison

    Former FTX chief compliance officer cooperating in crypto lawsuit against Tom Brady, Shaq and celebrity promoters” by Shawn Tully

    Jamie Dimon says he won’t be buying any more failed banks: ‘It’s a lot of work’” by Will Daniel 

    Doing an art activity for just 20 minutes can help you live longer. Here are easy ways to add it into your day” by Alexa Mikhail

    Leaderboard

    Here’s a list of some notable moves this week:

    Cathy R. Smith was named CFO at Nordstrom, Inc. (NYSE: JWN), effective May 29. Smith joins Nordstrom from Bright Health Group, where she has served as chief financial and administrative officer since 2020. Before Bright Health, Smith worked as the CFO for Target Corporation for five years. During that time, Target achieved double-digit revenue and EPS growth. Before Target, Smith served as CFO for public companies Express Scripts, Walmart International, Gamestop, Centex, Kennametal, Textron, and Raytheon.

    James “Jay” Saccaro was named VP and CFO at GE HealthCare (Nasdaq: GEHC), effective June 1. Saccaro succeeds Helmut Zodl who is remaining with the company to lead special projects regarding separation from GE. Saccaro joins GE HealthCare from Baxter International, where he has been serving as EVP and CFO since 2015. Before rejoining Baxter, he was SVP and CFO at Hill-Rom Corporation. 

    Todd Tuckner was named Group CFO at UBS. Tuckner will take on the role at the close of the acquisition of Credit Suisse. Having joined UBS in 2004, Tuckner is currently CFO and head of business performance and risk management for Global Wealth Management. Tuckner will succeed Sarah Youngwood, who has decided to leave the firm after the transaction closes. Youngwood joined UBS in 2022.

    Kapil Agrawal was named CFO at Outschool, an education platform that offers a variety of small-group classes online. Agrawal brings experience in finance and international expansion. Most recently, he served as interim CFO at Poshmark. He was also pivotal in improving Poshmark’s gross margins, unit economics, and profitability. Before Poshmark, Agrawal served as global head of pricing at Uber Technologies, and head of business strategy at Capital One.

    Gayle Jardine was named interim CFO at Coda Octopus Group, Inc. (Nasdaq: CODA), a real-time 3D/4D/5D and 6D imaging sonar technology company, effective May 4. The company’s CFO, Nathan Parker, has departed from his role, effective May 3. Jardine joined Coda Octopus Group as its European director of finance in 2015. Before that, she was the owner and director of Pentland Accounting Limited. Jardine also previously served as the operations and finance manager for Wireless Fibre Systems. 

    Howard Fu was promoted to CFO and treasurer at Procore Technologies, Inc. (NYSE: PCOR), a global provider of construction management software, effective May 8. After four years as CFO and treasurer at Procore, Paul Lyandres is stepping into the newly-created president. Fu most recently served as SVP of finance at Procore for two years. Previously, Fu served as VP of financial planning and analysis at DocuSign. Before that, he led the sales finance and M&A finance teams at Salesforce.

    Marcus Glover was named EVP and CFO at Bally’s Corporation (NYSE: BALY). Bobby Lavan, Bally’s current CFO, will be leaving the company to pursue another opportunity. Most recently, Glover served as chief strategy officer for QPSI LLC, a supply chain solutions and contract packaging company. Before that, he served as president and COO of the Borgata Hotel, Casino & Spa, and president and COO of the Beau Rivage Resort & Casino. Glover was also a senior executive with Caesars Entertainment in various positions, including SVP and general manager for the Horseshoe Casino and Thistledown Racino, assistant general manager at Harrah’s/Caesars Entertainment St. Louis, Mo., and VP of operations at Harrah’s/Caesars Entertainment in Biloxi, Miss.

    Gary W. Ferrera was named EVP and CFO at Driven Brands Holdings Inc. (Nasdaq: DRVN), an automotive services company, effective May 10. Ferrera succeeds Tiffany Mason. Most recently, Ferrera served as the CFO of Skillsoft Corporation, an educational software company. Before Skillsoft, he spent four years as the CFO of Cardtronics, PLC, an owner/operator of ATMs. He also served as CFO at DigitalGlobe, Inc., Intrawest Resorts Holdings, Inc., Great Wolf Resorts, Inc., National CineMedia, Inc., and Unity Media. 

    Overheard

    “Sadly, the Great Resignation is not over for mothers. The fact that a significant percentage of mothers are leaving the workforce or changing jobs due to the lack of affordable childcare and the need to stay at home with their children is concerning.”

    —Jill Koziol, Motherly CEO and cofounder, told Fortune in an interview. Motherly’s recent State of Motherhood report surveyed nearly 10,000 mothers. Eighteen percent of mothers changed jobs or completely left the workforce this past year; 28% said they wanted to stay home with the kids, and 15% said they didn’t have childcare options, the research found. For 64% of at-home moms, flexible work schedules would get them to return to the workforce. And 52% said affordable childcare would.

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    Sheryl Estrada

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  • Mr. Bake Kareem Queeman on Telling Your Product Story | Entrepreneur

    Mr. Bake Kareem Queeman on Telling Your Product Story | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Mr. Bake Kareem Queeman has been baking since the age of eight and has found fame from the oven to the camera. Now, he has become a rising voice advocating for the LGBTQ+ community.

    Kareem Queeman found his purpose by answering a difficult question: “If I was to leave this Earth tomorrow, would I be happy with the life that I’ve lived?”

    After acknowledging that his answer to the question posed above was “no”, Queeman took action to change the narrative and became a strong advocate for the “unseen” LGBTQ+ community.

    “I started to really start changing with that and start speaking out more about that change, about going to therapy. And then that’s when I found that passion,” says Kareem Queeman to Restaurant Influencers host Shawn Walchef of CaliBBQ Media.

    One of the most important qualities an entrepreneur must possess is courage. Kareem Queeman didn’t always possess that in spades.

    After a meeting with a fellow black entrepreneur who made wine, Queeman realized the importance of telling his story with media, which helped him progress and become the powerful voice he is today.

    “He said, they will get into your story more than they will buy into your product. And I sat on that for a little while,” Queeman says of the encounter. “And then it hit me six or seven months later.”

    Running a business is not an easy feat, and there will be plenty of obstacles to overcome, and Queeman has faced his fair share of adversity. But he has done the internal work necessary to persevere and advises other entrepreneurs to do the same.

    “When you are faced with another adversity or when you are faced with another opportunity or you want to go for something and you start to doubt yourself, I want everybody to remind themselves, how did they get to where they are today?” asks Queeman. “Do not forget your power.”

    Kareem Queeman’s story is an inspiring one. His journey to find and intentionally pursue his passion of becoming a voice for the LGBTQ+ community is one that reminds us that we have the power to achieve our dreams, and find our own voice, as well.

    ***

    ABOUT RESTAURANT INFLUENCERS:

    Restaurant Influencers is brought to you by Toast, the powerful restaurant point of sale and management system that helps restaurants improve operations, increase sales and create a better guest experience.

    Toast — Powering Successful Restaurants. Learn more about Toast.

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    Shawn P. Walchef

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  • 6 Ways Successful Female Executives Turn Self-Doubt into Their Pathway to Self-Belief | Entrepreneur

    6 Ways Successful Female Executives Turn Self-Doubt into Their Pathway to Self-Belief | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Imposter syndrome is fueled by self-doubt and the belief that the position we hold is one in which we are not qualified or deserving. When you are the kind of leader or individual contributor who brings new ideas to the market, you are, by definition, doing something that you have not done before. As women, we are conditioned to believe that we must have experience and expertise in something in order to take the job or run the project. That conditioning is fueled by the belief that women must be perfect.

    Self-doubt is a common experience that many women face in the workplace, particularly in positions of leadership. Like many, I used to think that female C-suite executives and board directors were filled with confidence and self-belief and were in no way inflicted with imposter syndrome and the self-doubt that fuels it. After years of working with, studying, and being one of the few women in the highest ranks of business, I found the opposite is true.

    Related: 5 Easy Ways You Can Turn Self-Doubt Into Success

    It’s not that female executives don’t face imposter syndrome. We do. In fact, in a 2022 study conducted by KPMG, 75% of executive female research participants report having feelings of imposter syndrome throughout their careers; 81% believe that they put more pressure on themselves not to fail than their male counterparts do. What sets us up differently is how we have learned to combat imposter syndrome by turning our self-doubt into strategies waiting to happen. Of the several strategies that I have observed, there are six that women often use to manage and reduce self-doubt in the C-suite:

    1. Acknowledge and accept your self-doubt

    It’s important to recognize that self-doubt is a normal feeling and that everyone experiences it at some point. Acknowledge your doubts and accept that they are a natural part of the process of taking on new challenges. Leaders face unknowns every day. Confidence comes from the repetition of doing the same thing over and over again. Getting frustrated with yourself for your lack of confidence works against you. Instead, list out the concerns you have. For each concern, write a list of things you want — not need — to know, then create a plan of action to find the answers. This approach not only gets you out of your head, but it also creates momentum toward your goals.

    2. Replace ‘fake-it-til-you-make it imposter mindset’

    Ignore well-meaning fake-it-til-you-make-it advice. It perpetuates the belief that you are not enough. Leaders who embrace a growth mindset based on the belief that your abilities can be developed through hard work and dedication. Adjust your values to prioritize and favor curiosity over ego. Cultivate a learning mindset by seeking out specific feedback from trusted sources, learn from what is working and what is missing in the market, and constantly seek to improve your delivery and idea rather than trying to “fix” yourself. There is nothing wrong with you.

    3. Build a support network

    Surround yourself with supportive colleagues, mentors, and friends who can provide encouragement, offer guidance, and give honest and productive feedback. Seek out individuals who have experience and success in leadership roles and can provide advice and support as you navigate your own path. Do not look for cheerleaders who are unable to give you productive input into how to progress your idea or your career. You want positive support with pragmatic and strategic coaching in a way that enables you to test ideas and approaches in a safe place before trying them out in primetime.

    Related: 10 Inspiring Women Entrepreneurs on Overcoming Self-Doubt and Launching Your Dream

    4. Focus on your strengths

    Recognize and embrace your unique skills, talents, and accomplishments. One of the best ways to hold a mirror up to see what you are good at is to ask friends, family, colleagues or mentors for their honest opinion about what they think your strengths are. Often, others can see qualities in us that we may not recognize in ourselves. As you take in this feedback, consider your accomplishments and what it took to find success, finding themes with the input of others. Finally, if you have not already, take an online assessment such as Myers-Briggs Type Indicator (MBTI) or StrengthsFinder to help identify your cognitive and behavioral strengths and learn how they can best be used in consideration of other people’s styles and preferences.

    5. Be on your own side

    Someone once told me that you can tell a lot about a person by the way they treat waitstaff. The people who serve us are not in their roles to be treated rudely. The same goes for how you treat yourself. You have been through a lot and are going through a lot — every day. You are tough and can handle it. There’s no question. Make a choice to fire that self-inflicted micro-manager inside of your head. That same compassion you use toward waitstaff is the same compassion you deserve to use on yourself. Prioritize rest, exercise, healthy eating and other activities that help you feel energized and balanced. If you are tired, stop what you are doing and take a nap or go for a walk. The work will be there when you return. The world will not end if you shut down work early for the night. Treat yourself with the same kindness and understanding that you would offer to a good friend. Be gentle with yourself, especially when you make mistakes.

    6. Challenge your negative self-talk

    This is a tough nut to crack. Isn’t it crazy how we believe our worst inner critic? We trash talk ourselves as a way to prepare for others who we believe are either thinking and/or telling us the same thing. Identify the negative self-talk that is contributing to your self-doubt and challenge those thoughts. Change your inner dialogue to separate yourself from your feelings. For example, try replacing “I can’t do this and everyone is going to find out” with “I have nervousness inside of me. Why is that nervousness there?” When you say it like that, you are able to create a healthy separation between your imposter self-talk and yourself. It’s also important to intentionally infuse positivity and passion in your life. Hang out with people you like and who like you. Have fun, laugh and try new things. Put yourself in positions where you enjoy being in your life. Cultivate positive energy for yourself and the people around you.

    Overcoming imposter syndrome and self-doubt at any level requires practice. A lot of practice. Actively and intentionally build these steps into your everyday life. Over time, your ego-focused imposter syndrome inner voice will be replaced by a narrative of curiosity of what could be in the unknown pathway you are paving.

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    Patti Fletcher

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  • DiversityInc Announces Its 2023 Top 50 Companies for Diversity

    DiversityInc Announces Its 2023 Top 50 Companies for Diversity

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    DiversityInc, the preeminent source of human capital metrics, has released its 2023 Top 50 Companies for Diversity list. The list recognizes large U.S. employers that model fairness in their talent strategy, workplace and supplier diversity practices and philanthropic engagement. The announcement was made live on May 2, 2023, at Cipriani Wall Street to more than 700 in-person and 1,300 virtual attendees. 

    Since 2001, DiversityInc has been assessing companies across a broad range of metrics, including leadership accountability, human capital metrics, talent programs, workplace practices, supplier diversity and philanthropy. The Top 50 list results are derived exclusively from survey submissions from employers with at least 750 employees in the United States. Companies are evaluated within the context of their own industries and on verified policies, practices and procedures. DiversityInc then uses subsets of the same data to determine its Specialty Lists of business verticals, population affinities and more.  

    “The DiversityInc Top 50 survey has become the go-to external validator for large U.S. employers that are committed to promoting diversity, equity and inclusion,” said Carolynn Johnson, CEO of DiversityInc. “These rankings represent evidence-based, superior human capital outcomes that are achieved only by data transparency and an unwavering commitment to workplace fairness for everyone.”

    Taking the top spot on this year’s list is Mastercard, followed by Medtronic, The Hershey Company, Toyota North America, and Eli Lilly & Company. 

    “A recognition like this is priceless. It reminds us as a company that we have a DEI strategy that’s on the right path and we have what it takes to move the needle. But there’s much more work to be done. Tomorrow we’ll jump back in the game to do what it takes to further strengthen our systems, our policies, and practices so that everyone who touches our company feels valued and respected and reaches their greatest potential,” said Randall Tucker, Chief Inclusion Officer at Mastercard.

    One hundred and fifty-seven employers, with roughly 8.3 million U.S. employees, submitted data to earn a spot on one of the lists. The entire Top 50 and other specialty lists can be viewed at https://www.fair360.com/top-50-list/2023/ or by following the conversation at #DITop50.

    The announcement event featured remarks from executives at Medtronic, Toyota, The Cigna Group, Mastercard, KPMG, The Hershey Company, Sysco Corporation, Johnson & Johnson, Eli Lilly & Company, and more. Roy Wood Jr. served as the emcee, and Deon Cole was featured as the afterparty entertainment.

    About DiversityInc: DiversityInc’s mission is to educate the workforce and bring clarity to the business benefits of workplace fairness, equity, and inclusion. The organization has evolved to become the preeminent source of human capital data, education, and advice. DiversityInc is a VA-certified and veteran-owned business. The organization is led by a Black woman CEO. For more information, visit https://www.fair360.com/.

    For information about the Top 50 overall model with a Cronbach Alpha Reliability score of .93, visit https://www.fair360.com/methodology-for-diversityincs-top-companies-rankings/.

    Source: DiversityInc

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  • Meet #6 on Yelp’s Top 100 Places to Eat: Sunbliss Cafe | Entrepreneur

    Meet #6 on Yelp’s Top 100 Places to Eat: Sunbliss Cafe | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Around 15 miles from Disneyland, Sunbliss Café in Anaheim, California echoes the cheery spirit of the theme park. After garnering social media buzz with its bright blue lattes and Instagrammable interior, Sunbliss has become a popular destination for coffee, tea, and healthy eats like smoothie bowls and avocado toast. Recently, Sunbliss was awarded the #6 spot on Yelp’s Top 100 Places to Eat, a list of the best restaurants across the U.S., with the help of votes from Yelp users.

    Owner Tani Ahmed did not always see herself running her own restaurant, much less an award-winning one. While working on the corporate side of a large beverage company, she met various restaurateurs and franchise owners who inspired her to start her own café. Since Tani had no restaurant experience, the main way she learned to open a restaurant was doing research on YouTube.

    “I had contemplated it for a few years, and I feel like I have entrepreneurial blood. It’s in me, and it’s something special that you have to have,” Tani said. “It’s like jumping off a cliff and building a parachute on the way down.”

    When creating a menu for Sunbliss, Tani wanted to bring a unique spin to all of the drinks. Instead of a classic mocha or latte, customers can find untraditional flavors like the “Cloudy Coconut” cold brew topped with sweet blue foam. This variety is appreciated by customers like Yelp reviewer Alyssa Mae L.

    “I’m a hundred percent into trying new things,” Alyssa Mae said. “I really love when coffee shops don’t just have the generic latte, cappuccino, macchiato, so I find myself gravitating towards places that have unique flavors.”

    Sunbliss prides itself on offering the freshest products possible, such as sauces and syrups made in-house from locally sourced ingredients. However, a challenge to using these high-quality items is having to charge a heftier price to compensate for their cost.

    Tani said it comes down to good marketing to sell the product to customers who are skeptical of Sunbliss’s prices, especially compared to a typical coffee shop or café. For Sunbliss, this means using social media marketing as an opportunity to educate customers on the health benefits of its menu items.

    “We do educational-based marketing. What’s funny is that people don’t really see how important it is [to] spend more on your health,” Tani said. “They’ll hesitate to buy a juice for $9.50, but they won’t hesitate to buy a $20 drink like a cocktail. For $9.50, you’re adding good nutrients and good bacteria to your body.”

    While Alyssa Mae loved the drink she ordered at Sunbliss, the welcoming customer service made her experience memorable and inspired her to leave a 5-star review. Initially, Alyssa Mae was overwhelmed by Sunbliss’s extensive menu, but the staff helped by giving her suggestions of what to order.

    “They really gave me patience when navigating [the menu],” Alyssa Mae said. “It was early in the morning, and I know they were getting into the groove of a morning shift, so it was nice to receive that sort of patience and get some guiding points on what’s good.”

    To ensure customers like Alyssa Mae have a memorable experience at the café, Tani emphasizes the importance of building a strong culture among her staff, which comes across to customers. This starts at the hiring process, where Tani ensures team members have not only the necessary skills but also the same values as Sunbliss.

    To keep customers coming back, Tani established customer service guidelines all staff members need to follow, such as asking every customer what their name is. After being open for only a couple of years, she’s proud of the strong relationships her staff has built with customers.

    “We see the same people every single day. Our employees are the reason we have that following,” Tani said. “We’re all human. We experience bad days. Anytime we come in with some sad news or just that bad day hovering over us, it feels like when you start your shift, everything turns around because there’s always someone that you recognize or know that comes in and has that self-lifting energy that rubs off on you.”

    Other businesses can learn from Sunbliss’s journey to Yelp’s Top 100 Places to Eat, including the following tips:

    • Bring creativity to your products. Don’t shy from bringing a personal, unique touch to your business’s offerings, as Tani did with Sunbliss’s colorful coffee drinks.
    • Use social media as a powerful marketing tool. Outside of customer interactions, social media is a great way to connect with customers and educate them on your product offerings.
    • Foster a collaborative team. A strong team spirit will come across in customer interactions. Consider creating customer service guidelines based on your core values for staff to follow.
    • Make the customer experience memorable. Get to know customers on a personal level by asking them how their days are going and what their names are. Remembering your repeat customers can help turn them into regulars.

    Listen to the episode below to hear directly from Tani and Alyssa Mae, and subscribe to Behind the Review for more from new business owners and reviewers every Thursday.

    Available on: Spotify, Apple Podcasts, Google Podcasts, Stitcher, and Soundcloud.

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    Emily Washcovick

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  • Khloé Kardashian and Emma Grede Drove $200 Million In Annual Sales With Size-Inclusive Fashion Brand, Good American, by Connecting Deeply With Their Clientele | Entrepreneur

    Khloé Kardashian and Emma Grede Drove $200 Million In Annual Sales With Size-Inclusive Fashion Brand, Good American, by Connecting Deeply With Their Clientele | Entrepreneur

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    Khloé Kardashian: Makeup, Ash K Holm; Hair, Irinel De León; Stylist, Dani Michelle: Seamstress, Mia Paranto; Manicurist, Zola Ganzorigt: Pedicurist, Millie Machado. Emma Grede: Makeup, Christina Cassell; Hair, Vernon François; Stylist, Simon Robins.

    Image Credit: Greg Swales


    The model wears a faded denim jumpsuit that hugs her curves like slalom skis. She’s tugging at the zipper that goes up the front. And the photo of her appears on the Instagram page for fashion brand Good American, where it garnered more than 3,000 likes and comments along the lines of “OMG,” “NEED,” and “OBSESSED.”

    But amidst the emoji flames and heart-eyed smiley faces, a user who goes by the handle @jazziolebabe writes: “Prices r too high.” That’s sure to have a familiar ring to anyone with a company that sells things. “Customer obsession” is hot lingo these days, especially in retail. Everyone is scrambling to know what their shoppers want and need — and comments on social media are an obvious destination, because even negative feedback can be incredibly valuable. But finding useful insights often means dredging through the sewer of knives-out viciousness and abusive one-upmanship. And what do you do with something like “Prices r too high”? OK, sure — but last time you checked, you were in business to make a profit.

    Related: How to Accelerate Your Success as a Female Founder

    Making use of social media comments and other customer feedback is always tricky, whether you’re an everyday entrepreneur or someone like Khloé Kardashian, who has more than 300 million followers on Instagram alone. She also happens to be the cofounder of Good American along with Emma Grede, a fashion-industry veteran who’s becoming increasingly famous herself for her Shark Tank “guest shark” appearances. “You have to get a good sense of when people are just talking to talk,” Kardashian says, “and when to go, ‘You know what? I’ve read this enough, and where there’s smoke, there’s fire. Let’s pay attention to this.’”

    More than anything else, learning to pay attention is what’s helped Grede and Kardashian build their size-inclusive brand Good American into a serious force in fashion, employing over 100 people and doing more than $200 million in sales last year.

    A few years ago, when they saw a number of comments piling up about prices, they took note. While they’d always meant for their clothes to be accessible, Good American is not a low-end brand; jeans go for around $99 to $199. That’s because the production costs to make well-fitting apparel from sizes 00 to 32 Plus are hefty. Lowering the price by decreasing quality was not an option. So they focused hard on their customers, both on social media and off, and tried to look at shopping through their eyes, asking: What are we spending so much money on?

    That’s when they saw the problem: A woman’s weight fluctuates. “It’s true regardless of where they are on the size scale,” says Grede. “I mean, I’ll be up or down six pounds depending on the time of the month — “

    “Depending on the day,” Kardashian quips.

    The point, says Grede, is that “these women have two or three different sets of jeans in that closet.”

    What if they could solve this? The question led to an idea: They’d innovate a fabric that stretches four sizes, as magically as the fictional jeans in the 2005 movie Sisterhood of the Traveling Pants. Instead of lowering their cost, they’d increase their product’s value — saving their customers from having to buy multiple sizes. It was frustratingly slow and expensive to pull off, but in the end, definitely worth it: Their “Always Fits” jeans, launched in 2020, have become one of Good American’s best-selling denim products.

    Related: Supermodel Karlie Kloss’s Lesson to Young Women: Never Be Afraid to Ask Questions!

    For Grede, it was proof of a process that now underlies the brand’s success: You listen, identify pain points, and then invest in creating features that aren’t being duplicated elsewhere. “It puts a moat around our company, right?” she says.

    It’s a moat built on voices.


    You probably know who Khloé Kardashian is — but just in case you missed all 20 seasons of Keeping Up With the Kardashians, the various spinoffs, and the current show, The Kardashians, then here’s the quick of it: Khloé is the youngest of the three original Kardashian sisters. She is “the funny one,” down-to-earth and good-natured, and always trying to make peace.

    Grede, on the other hand, did not come from celebrity royalty. She grew up in East London, a scrappy Black girl raised by a single mom, in a family of women who embraced their curves. She was barely 26 when, in 2008, she started a brand marketing company called ITB Worldwide that was eventually acquired by Rogers & Cowan (she won’t say for how much). By then, she’d already embarked on her next act.

    The idea for a size-inclusive apparel line came to her when she realized she was part of a problem. “I was working for the biggest fashion brands in the world, casting these seemingly diverse campaigns, and I thought, Wouldn’t it be amazing if they actually made clothes to fit some of these girls?” she says. “We talk about women having equal opportunity, and yet we let the fashion industry dictate that if we’re over a certain size, we aren’t important enough to service. It felt archaic to me. I just thought there was a huge opportunity.”

    Related: 8 Qualities to Drive Your Success as a Female Entrepreneur

    In 2015, she shared these thoughts with Kris Jenner, the Kardashian family matriarch, whom Grede had met through her fashion work. The following week, Grede was on a plane to Los Angeles to pitch the idea to Khloé. The meeting was in a conference room in Culver City, California, and all she had was a PowerPoint she’d worked up on the flight — essentially a manifesto of values, some images pulled off the web, and a bad placeholder name. Kardashian was wary.

    “When I was younger, I took every opportunity to hawk products or do this and that — I didn’t even know what I was doing half the time,” Kardashian says. By 2015, however, she was much better equipped to evaluate a good business deal, and she was only interested if she deeply cared about the project. She took the meeting with Grede, but wasn’t expecting much.

    In the room, though, Kardashian was impressed by Grede. She also immediately understood the presentation: The customer was her.

    Growing up, before all the fame and social media, Kardashian was a cheerful, confident, athletic kid. She liked being physically bigger than Kim and Kourtney — until she became an object of the gossipy press. “I never knew I was, I guess, chubby or fat until the weeklies and tabloids started telling me I was,” she says, her voice hovering for a split second, as if careful to sidestep that old cavity of insecurity. But even in her younger days, she hated shopping. In the ’90s and early 2000s, there was no e-commerce, and in stores, larger clothes were ghettoized. “My sisters loved to go to little boutiques or chichi department stores. I was always being ushered to some underground basement, always being thrown a mumu or just being told, ‘No, you can’t shop here.’ And it made me feel so much less than.” Nothing was worse than trying to buy jeans, especially trendy ones like Frankie B. “No disrespect to Frankie Bs — but I have a butt and it’s not getting in Frankie Bs!”

    Despite all that, Kardashian still felt sexy and attractive. “More power to me,” she jokes. But she knew other women did not feel the same. In Grede’s presentation, she saw a brand that could channel and spread that confidence around.

    “The only thing I didn’t enjoy,” says Kardashian, “was the placeholder name. I don’t even remember what it was.”

    “I do,” Emma mutters.

    Related: 7 Practical Ways to Celebrate and Support Women Entrepreneurs

    At this point, we’re all lounging couchside in a nook of a cavernous photo studio in Calabasas, the Los Angeles suburb of gated communities where Kardashian lives. Having ditched her stilettos and tight jeans, Kardashian is now dressed as if for a kid sleepover, in a fuzzy onesie. She nestles into the cushions and floods the space with a warm “we got this, girlfriend” appeal. Next to her, Grede is clad in Good American jeans and a work shirt. She has an easy confidence around her famous cofounder, and bristles with barely contained enthusiasm. Come on, I prod. Tell us the placeholder name.

    Grede busts out laughing: “Absolutely not.”

    Even without a name, from that first meeting, the two women saw what their advantage was. “The people making the decisions in fashion,” says Grede, “were largely white men and not connected to the customer.” She and Kardashian knew the customer intimately. And they realized that if they could get inside her head even more, they could make a lot of clothes for her.

    So that became their game plan: Focus on the connection, consistently improve it, and learn to watch their followers as intensely as their followers have always scrutinized Kardashian.

    Image Credit: Greg Swales


    Good American launched on October 18, 2016. It was a nerve-wracking day. Kardashian may have many advantages over the average entrepreneur — in reach, in resources — but to her, this also meant the bar for success was extraordinarily high. Anything short of a smash hit could be portrayed as a humiliation. And this was the first time she wasn’t just endorsing a product or partnering with a sibling; it was a genuinely new business. Good American was producing jeans in sizes 00 to 24 — designed to look cute and sexy on women of all shapes, which was something of a groundbreaking proposition at the time.

    Right as they were about to launch, Grede told Kardashian that they should aim for $1 million in sales — that day.

    “The number just came from foolery,” Grede says now. “I never thought we’d do it.” But Kardashian took it seriously. “In my head, I was like, “Let’s do a million? Sure, Emma, that’d be amazing,” she recalls. “But it’s a lot of fucking money! And then to have it be filmed? I can’t go down like this.”

    Because, of course, it was being filmed: The tape was rolling for Keeping Up with the Kardashians. Kardashian leaned into a full-fledged freak-out. “I’ve always been known as the fattest sister,” she told the camera. “And now that I’m over it, I don’t want to be known as the failing sister.”

    Related: Jennifer Lopez Is Done With ‘Happy to Be Here.’ She Thinks Latina Entrepreneurs Are Undervalued, So She’s Working to Give Them $14 Billion in Loans.

    Before that day, she and Grede had given retailers an ultimatum: They’d work only with stores that agreed to carry their full size range and display it all in one place — no separate floors for “petites” or “plus-size” (a term they avoided because of its negative connotations). In 2016, this was still not how stores tended to organize their clothes, but Nordstrom agreed and became their launch partner. “It meant trusting their vision,” says Pete Nordstrom, the company’s president and chief brand officer, explaining, “The brand had widespread appeal, as it was the first denim line to offer expanded sizes at a great value.”

    Getting to launch was harder than they thought. Maybe Good American had product-market fit, but the actual fit of jeans on all these bodies was elusive. At the top of the size range, body shapes vary widely, so you can’t just enlarge smaller sizes. You’ve got to create different patterns, innovative fabric, and altered manufacturing processes. Factories just threw the specs back at Kardashian and Grede and said they didn’t make sense. Hiring was a pain, because there were so few fashion people who had worked with larger apparel. And then they needed models. “Back then, there was Ashley Graham…and Ashley Graham…and Ashley Graham,” says Grede of the trailblazing curvy supermodel. That left real women. So, how would they find them?

    “We posted for our first open casting call,” Kardashian says. She did it on Instagram.

    We posted?” Grede cuts in. “Khloé, you posted. I had, like, 27 followers.”

    Kardashian ignores her. “We didn’t even have the name yet. We were, like, hoping 10 girls come.”

    They nervously waited on the appointed day at Milk Studios. Some 5,000 women showed up — a lesson about what their customer connection could do. “I knew Khloé had an enormous fan base, but I didn’t get that it was a two-way street,” says Grede. “I was like, That’s gonna be super useful for us.”

    When they debuted online and at select Nordstrom stores, Good American did indeed hit $1 million in sales on day one. And immediately, the founders faced a major decision. “Another retailer, who should remain nameless because they are now our client,” says Grede, “put in an astronomical order for sizes 0 through 8.”

    In scale, this was the kind of put-you-on-the-map order any young brand would dream of — but again, their sizing went up to 24. If that retailer only sold sizes 0 to 8, it would chip away at what made Good American special. It would also kick their core customer back down to the basement. “And then what does that make us? Just like everyone else?” asks Kardashian. “We were like, ‘You either take the full size range or you don’t. We’re not gonna sell our souls any more than we already have.’”

    She smiles. Still, it was a hard decision. “Saying no to that level of sales from that type of retailer?” says Grede. “That was very difficult.”


    Once Good American was out there, it was time to refine the brand. Buoyed by the responsiveness to the open casting call — which Good American has made a regular part of its marketing strategy — Grede and Kardashian started holding targeted focus groups on social media, asking women how the clothes could be better, what else they wanted, what their needs were. “But even with focus groups,” says Kardashian, “it gets murky, because everyone has an opinion.”

    So they started looking closely at the returns. Early on, they noticed that a lot of size 14s and size 16s came back. “When you see that,” Kardashian says, “you do have to go, OK, why? Let’s look again at these comments.” What they learned is that customers were falling between the cracks of the even-numbered conventional sizes. So in 2018, they invented a size 15. “To this day, it’s our third or fourth best-selling size month-to-month,” Grede says.

    Then they discovered another problem with customer feedback: Sometimes what people say they want is different from what they’ll actually buy. And sometimes the thing they’re asking for just doesn’t make sense for the business. Grede and Kardashian haven’t always gotten it right. Like when everyone was going crazy for rigid jeans, “we made them — of course we did,” Grede says dryly. It didn’t take long for them to realize that rigid jeans are not the most natural fit for curvy ladies. “We were quick to be like, ‘OK, we fucked up, and we gotta figure this one out,’” says Kardashian, putting an optimistic spin on it. “But it was also a great learning experience, because you wanna be with the trends, but maybe it’s okay to do ‘rigid’ with a smidge of stretch. Like, our girl needs that.”

    Related: A Look Back at Women’s Entrepreneurship Over the Last 35 Years — and How We Can Change the Future for Women Business Owners

    Eventually, Grede and Kardashian built a data and analytics team to formalize the feedback process. But they continued observing their audience on their social channels, like detectives searching for clues. And about four years ago, they noticed something curious. By then, Good American had expanded into bodysuits, and customers were posting photos of themselves on social media swimming in them. Which was great, except…

    “We were like, ‘The bodysuits are not made to get wet!’” says Kardashian.

    “There’s an opening in the crotch,” explains Grede.

    “Right,” Kardashian seconds. “It could snap open.”

    Should they develop a swimwear category? they wondered. Their customers clearly wanted it. And selling swimsuits in the smaller sizes seemed like a no-brainer. But what about the higher sizes? Would really curvy women buy teeny bikinis and monokinis? The cofounders looked more carefully at the bodysuit category and noticed that in the sexier cuts, the larger sizes were actually selling better than the smaller ones. “So the wheels were turning, and we could get a little bit of a foreshadowing based on what other things were selling,” says Kardashian.

    They decided to risk it, and the first line was ready in June 2020, just as beaches had emptied for COVID and Good American’s retailers were shutting stores and sending back orders. It was a hard time, but they launched the suits anyway, and swimwear grew into their second biggest category.

    The next decision involved something their stylists picked up on: The models at the open-casted campaign shoots didn’t have attractive shoes or boots that fit around their calves. Grede saw an opportunity — they could get into footwear. But Kardashian worried that, unlike the swimsuits, this would be expensive, and the final product would be too high-priced.

    “I’m not gonna lie, we were both scared,” Grede says.

    “You were way more on board than I was,” Kardashian says.

    “Well,” Grede concedes, “I do have that kind of mindset that, you know, we’ve done a lot of difficult things at Good American. Like, come on, we do it.” Grede’s energy can be persuasive. Six months after the swimwear, they launched their shoes — now their third biggest category.

    In 2021, they stopped to take a breath. Grede had become a founding partner of Kim Kardashian’s shapewear label SKIMS (which has a reported valuation of $3.2 billion) and was launching the plant-powered cleaning brand Safely with Kris, while starting to appear on Shark Tank. Kardashian was busy with her show and, like Grede, now a mother. Until then, Good American had been focused on growth. But customers everywhere were increasingly concerned about climate change and social equality — as were Grede and Kardashian. So they decided to become a certified B Corporation, an arduous process verifying that Good American adheres to high standards of social and environmental responsibility. It also means being accountable for balancing profit with purpose.

    “Good American isn’t doing this just because we wanted to have a buzzworthy moment. This is something that we genuinely believe in,” says Kardashian. “I never want my daughter — or anybody — to go through that experience that I went through. I want them to feel seen and represented.”

    Image Credit: Greg Swales


    Even with the B Corp, from 2021 to 2022, Good American’s sales increased by 30%. Today the brand offers sizes up to 32 Plus and has wholesale partnerships with Saks Fifth Avenue, Revolve, Bloomingdale’s, and Net-a-Porter. Last year it pulled off a collaboration with the multinational fast-fashion chain Zara — a milestone for both. As for Pete Nordstrom, he says pioneering with Good American has not only been a win, but has also influenced the department store chain. “The positive customer response to Good American has inspired us to expand our approach to size inclusivity,” he says.

    But Good American’s success — and a broader body positivity movement — has also created competition. Nordstrom’s team has asked more of their brand partners to produce extended sizes, for example. And in the past seven years, the U.S. plus-size fashion market has grown from around $23.7 billion to an expected $30 billion in 2023, according to a recent analysis by Future Market Insights (FMI). Small size-inclusive brands like Big Bud Press, Henning, and Universal Standard are grabbing attention, while large companies from H&M to Nike have extended their lines to include clothes for larger bodies. “One of the fastest-growing markets in the apparel business is plus-size fashion,” says Sneha Varghese, lead analyst for consumer goods at FMI. “And there is still a lot of space for expansion.”

    Related: Lewis Howes Has Built An Eight-Figure Personal Brand. He Did It By Constantly Reinventing Himself.

    The fact that Good American sells casual clothes at a midrange price point puts it in the sweet spot, according to FMI’s analysis. It’s also got history on its side. “I believe any brand that is size-inclusive from the start has a huge advantage over straight-size brands — the grand majority of which have flat-out ignored extended sizes for years,” says Melissa Moylan, vice president of womenswear at Fashion Snoops, a global trend forecasting agency. “It’s not easy to simply extend straight-size patterns, and getting the fit wrong for a plus-size customer may mean they’re not coming back anytime soon.” She points to Bodequality, the inclusive effort that Old Navy rolled out with fanfare but ended up pulling back from stores last year. “That’s exactly when a brand like Good American holds its value; with not only a message of inclusivity and representation, but a proven track record.”

    Grede and Kardashian say they are excited by the competition. But rather than racing ahead in their stilettos (which, take it from a witness, they can) to scoop up new clothing categories, the cofounders are standing by their playbook — listening to where their customers are now, and perfecting the products they already have. It’s a good strategy, according to Moylan: “No brand is good at everything.” So it’s wise to double down on what makes yours special.

    As this magazine went to press, Kardashian and Grede were getting ready to open up a new channel for connecting with their customers — face to face. It will be Good American’s flagship store in Century City, California. “We’ve thought about this idea of inclusivity very much in a product-focused way,” says Grede, “and now we’re figuring out: What should the new shopping experience for our customers be? How do we make them feel good as soon as they come in?”

    They have their questions. Now, as always, they’re waiting for their customers’ answers.

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    Liz Brody

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  • Why Companies Are Failing in Their Diversity, Equity and Inclusion Efforts | Entrepreneur

    Why Companies Are Failing in Their Diversity, Equity and Inclusion Efforts | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Companies care about diversity, equity and inclusion (DEI) because they know that a diverse workforce leads to greater innovation, creativity and overall success. However, despite this knowledge, many companies struggle to effectively implement DEI initiatives. In difficult economic times, it’s easy for companies to cut costs and put DEI efforts on the back burner. However, this can lead to consequences such as a lack of diverse perspectives and diminished employee engagement.

    Let’s explore why it’s crucial for companies to prioritize the success of their DEI leaders and equip them with the necessary resources and authority to foster an inclusive workplace. By doing so, companies can unlock the full potential of a diverse and empowered workforce. Our takeaways will provide practical steps that companies can implement to develop a successful DEI strategy that not only benefits the business but also supports the well-being and satisfaction of its employees.

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    Clair Kim

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  • Bud Light fumbles, but experts say inclusive ads will stay

    Bud Light fumbles, but experts say inclusive ads will stay

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    Bud Light may have fumbled its attempt to broaden its customer base by partnering with a transgender influencer. But experts say inclusive marketing is simply good business — and it’s here to stay.

    “A few years from now, we will look back on this ‘controversy’ with the same embarrassment that we feel when we look back at ‘controversies’ from the past surrounding things like interracial couples in advertising,” said Sarah Reynolds, the chief marketing officer for the human resources platform HiBob, who identifies as queer.

    On April 1, transgender influencer Dylan Mulvaney posted a video of herself cracking open a Bud Light on her Instagram page. She showed off a can with her face on it that Bud Light sent her — one of many corporate freebies she gets and shares with her millions of followers.

    But unlike the dress from Rent the Runway or the trip to Denmark from skincare brand Ole Henriksen, the backlash to the beer can was fast and furious. Three days after Mulvaney’s post, Kid Rock posted a video of himself shooting cases of Bud Light. Shares of Bud Light’s parent, AB InBev, temporarily plunged.

    This week, Anheuser-Busch — AB InBev’s U.S. subsidiary — confirmed that Alissa Heinerscheid, its vice president of marketing, and her boss, Daniel Blake, are taking a leave of absence. The company won’t say when they will return or whether they’re being paid.

    For some, the partnership went too far at a time when transgender issues — including gender-affirming health care and participation in sports — are a divisive topic in state legislatures.

    “Whether the issue is trans people or anything else, the majority of consumers are pretty vocal about the fact they don’t want brands lecturing them or stuffing politics or social issues down their throat,” said John Frigo, the head of digital marketing for Best Price Nutrition. “If you sell beer, just make beer and leave it at that.”

    But others — including Heinerscheid herself — say reaching out to younger and more diverse consumers is crucial. According to a 2021 Gallup poll, 21% of people in Generation Z identify as lesbian, gay, bisexual or transgender, compared to 3% of Baby Boomers. Gallup has also found that younger consumers are the most likely to want brands to promote diversity and take a stand on social issues.

    “I had a really clear job to do when I took over Bud Light. And it was, this brand is in decline. It’s been in decline for a very long time. And if we do not attract young drinkers to come and drink this brand, there will be no future for Bud Light,” Heinerscheid said last month in an episode of Apple’s “Make Yourself at Home” podcast.

    Bud Light and Mulvaney declined requests to talk to The Associated Press for this story.

    Bud Light has long been America’s best-selling beer. But its U.S. sales are down 2% so far this year, part of a long-running decline as younger consumers flock to sparking seltzers and other drinks, according to Bump Williams Consulting. Those sales declines accelerated rapidly in April. The week ending April 15, Bud Light’s sales dropped 17% compared to the same week a year ago. Meanwhile, rivals Miller Lite and Coors Lite both saw their sales jump more than 17%.

    Marketing experts say it’s possible Bud Light’s experience will cause other brands to rethink using transgender people in their advertising. Joanna Schwartz, a professor at Georgia College and State University who teaches a course on LGBTQ+ marketing, said companies will still want to reach transgender consumers and their supporters, but might shift to social media and more targeted ads.

    “They’re walking an extremely fine line. They want to appeal to everyone, but that includes people who don’t like each other,” Schwartz said of Bud Light.

    Still, Schwartz said, there are plenty of brands that have successfully featured transgender or non-binary people in their marketing. In 2016, Secret deodorant ran an ad featuring a transgender woman in a bathroom stall, debating whether to walk out and face other women at the sink. Pantene shampoo has run ads and short films supporting transgender people in 2021 as part of its Hair Has No Gender project. And Coca-Cola’s 2018 Super Bowl ad featured young people using different pronouns to describe themselves.

    Thomas Murphy, an associate professor of branding at Clark University, said he tells brands that want to be inclusive to run ads with real people who can talk about the company’s efforts.

    “They can have employees who say, ‘I love Bud Light. I have worked here for 20 years, there are inclusive programs and I came here because I wanted a company that would embrace me,’” he said. “Who couldn’t see and hear that person and say, ‘What a great company’?”

    Instead, Bud Light wound up alienating even transgender customers because it didn’t support Mulvaney after the boycott calls began, Schwartz said. Anheuser-Busch CEO Brendan Whitworth issued a statement on April 14 but it didn’t specifically mention the controversy.

    “We never intended to be part of a discussion that divides people,” Whitworth said.

    By comparison, Nike — which also faced some boycott threats after sending workout clothes to Mulvaney — supported the transgender community in an Instagram post, encouraging followers to be kind and inclusive. Nike didn’t respond to requests for comment.

    Manveer Mann, an associate professor of marketing at the Feliciano School of Business at Montclair State University, said Bud Light should have anticipated the backlash and had a plan in place to handle it.

    Nike learned that lesson in 2018, when it featured football player Colin Kaepernick — who had protested police brutality by kneeling during the national anthem — in its ads. Mann said Nike briefly faced boycott threats, but it stood by Kaepernick and its sales quickly recovered.

    Mann thinks Bud Light’s sales will ultimately recover, too. But in the meantime, it’s alienating everyone, she said.

    “The communication from Bud Light is not clear. Is this coming from your value set or are these things just trending?” Mann said. “You have to know what your values are and what are the values of the customers you are trying to reach.”

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  • Bud Light fumbles, but experts say inclusive ads will stay

    Bud Light fumbles, but experts say inclusive ads will stay

    [ad_1]

    Bud Light may have fumbled its attempt to broaden its customer base by partnering with a transgender influencer. But experts say inclusive marketing is simply good business — and it’s here to stay.

    “A few years from now, we will look back on this ‘controversy’ with the same embarrassment that we feel when we look back at ‘controversies’ from the past surrounding things like interracial couples in advertising,” said Sarah Reynolds, the chief marketing officer for the human resources platform HiBob, who identifies as queer.

    On April 1, transgender influencer Dylan Mulvaney posted a video of herself cracking open a Bud Light on her Instagram page. She showed off a can with her face on it that Bud Light sent her — one of many corporate freebies she gets and shares with her millions of followers.

    But unlike the dress from Rent the Runway or the trip to Denmark from skincare brand Ole Henriksen, the backlash to the beer can was fast and furious. Three days after Mulvaney’s post, Kid Rock posted a video of himself shooting cases of Bud Light. Shares of Bud Light’s parent, AB InBev, temporarily plunged.

    This week, Anheuser-Busch — AB InBev’s U.S. subsidiary — confirmed that Alissa Heinerscheid, its vice president of marketing, and her boss, Daniel Blake, are taking a leave of absence. The company won’t say when they will return or whether they’re being paid.

    For some, the partnership went too far at a time when transgender issues — including gender-affirming health care and participation in sports — are a divisive topic in state legislatures.

    “Whether the issue is trans people or anything else, the majority of consumers are pretty vocal about the fact they don’t want brands lecturing them or stuffing politics or social issues down their throat,” said John Frigo, the head of digital marketing for Best Price Nutrition. “If you sell beer, just make beer and leave it at that.”

    But others — including Heinerscheid herself — say reaching out to younger and more diverse consumers is crucial. According to a 2021 Gallup poll, 21% of people in Generation Z identify as lesbian, gay, bisexual or transgender, compared to 3% of Baby Boomers. Gallup has also found that younger consumers are the most likely to want brands to promote diversity and take a stand on social issues.

    “I had a really clear job to do when I took over Bud Light. And it was, this brand is in decline. It’s been in decline for a very long time. And if we do not attract young drinkers to come and drink this brand, there will be no future for Bud Light,” Heinerscheid said last month in an episode of Apple’s “Make Yourself at Home” podcast.

    Bud Light and Mulvaney declined requests to talk to The Associated Press for this story.

    Bud Light has long been America’s best-selling beer. But its U.S. sales are down 2% so far this year, part of a long-running decline as younger consumers flock to sparking seltzers and other drinks, according to Bump Williams Consulting. Those sales declines accelerated rapidly in April. The week ending April 15, Bud Light’s sales dropped 17% compared to the same week a year ago. Meanwhile, rivals Miller Lite and Coors Lite both saw their sales jump more than 17%.

    Marketing experts say it’s possible Bud Light’s experience will cause other brands to rethink using transgender people in their advertising. Joanna Schwartz, a professor at Georgia College and State University who teaches a course on LGBTQ+ marketing, said companies will still want to reach transgender consumers and their supporters, but might shift to social media and more targeted ads.

    “They’re walking an extremely fine line. They want to appeal to everyone, but that includes people who don’t like each other,” Schwartz said of Bud Light.

    Still, Schwartz said, there are plenty of brands that have successfully featured transgender or non-binary people in their marketing. In 2016, Secret deodorant ran an ad featuring a transgender woman in a bathroom stall, debating whether to walk out and face other women at the sink. Pantene shampoo has run ads and short films supporting transgender people in 2021 as part of its Hair Has No Gender project. And Coca-Cola’s 2018 Super Bowl ad featured young people using different pronouns to describe themselves.

    Thomas Murphy, an associate professor of branding at Clark University, said he tells brands that want to be inclusive to run ads with real people who can talk about the company’s efforts.

    “They can have employees who say, ‘I love Bud Light. I have worked here for 20 years, there are inclusive programs and I came here because I wanted a company that would embrace me,’” he said. “Who couldn’t see and hear that person and say, ‘What a great company’?”

    Instead, Bud Light wound up alienating even transgender customers because it didn’t support Mulvaney after the boycott calls began, Schwartz said. Anheuser-Busch CEO Brendan Whitworth issued a statement on April 14 but it didn’t specifically mention the controversy.

    “We never intended to be part of a discussion that divides people,” Whitworth said.

    By comparison, Nike — which also faced some boycott threats after sending workout clothes to Mulvaney — supported the transgender community in an Instagram post, encouraging followers to be kind and inclusive. Nike didn’t respond to requests for comment.

    Manveer Mann, an associate professor of marketing at the Feliciano School of Business at Montclair State University, said Bud Light should have anticipated the backlash and had a plan in place to handle it.

    Nike learned that lesson in 2018, when it featured football player Colin Kaepernick — who had protested police brutality by kneeling during the national anthem — in its ads. Mann said Nike briefly faced boycott threats, but it stood by Kaepernick and its sales quickly recovered.

    Mann thinks Bud Light’s sales will ultimately recover, too. But in the meantime, it’s alienating everyone, she said.

    “The communication from Bud Light is not clear. Is this coming from your value set or are these things just trending?” Mann said. “You have to know what your values are and what are the values of the customers you are trying to reach.”

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  • Alabama and Mississippi mark Confederate Memorial Day

    Alabama and Mississippi mark Confederate Memorial Day

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    MONTGOMERY, Ala. — Alabama and Mississippi closed most government offices Monday for Confederate Memorial Day as efforts have stalled to abolish state holidays that honor the old Confederacy.

    Legislation has been introduced in the ongoing Alabama legislative session to remove, alter or rename Confederate-related holidays, but the effort has so far gained little traction.

    Camille Bennett, the founder of Project Say Something, an organization that has worked for the removal of Confederate monuments in Alabama, said the determination to keep Confederate holidays comes at the same time Alabama lawmakers push legislation banning so called “ divisive concepts” from being taught in state classrooms and diversity training for state workers.

    “On one side, you have white conservative men defining what divisive is and what it means. … At the same time, you are honoring the Confederacy, which in itself is a divisive concept. It’s really hypocritical, quite tone deaf,” Bennett said.

    An Alabama Senate committee last week rejected a proposal to separate the joint state holiday celebrating Confederate Gen. Robert E. Lee and slain civil rights leader the Rev. Martin Luther King Jr. on the same day.

    “We’re trying to separate the holidays of two men whose ideologies were totally separate, from one end of the totem pole to the other. One believed in justice and fairness for all, and another believed in slavery,” state Sen. Vivian Davis Figures said.

    Figures’ bill would have kept Lee’s holiday but moved it to Columbus Day in October. “Whoever wants to honor either man will have their own day,” she said.

    The vote split along racial lines, Figures said at the end of the meeting, with white Republicans voting against it and Black Democrats voting for it.

    Several Southern states have ended or renamed Confederate holidays. Louisiana in 2022 removed Robert E. Lee Day and Confederate Memorial Day from the list of state holidays. Georgia in 2015 renamed Confederate Memorial Day to “State Holiday.” Arkansas in 2017 ended the practice of commemorating Lee and King on the same day.

    Mississippi Public Broadcasting on Monday had historians read Mississippi’s secession declaration, which makes clear that slavery was the central issue.

    Mary Jane Meadows, a member of the north Mississippi chapter of the Indivisible advocacy group, told Mississippi Public Broadcasting that the group protested Confederate Memorial Day last year and planned to do the same for 2023.

    “That means that 25,000 or more state employees have a day off with pay courtesy of the Mississippi taxpayers, 39% of whom are Black persons who are voters and taxpayers,” Meadows said.

    Some government offices in Mississippi remained open Monday, including courts in majority-Black Hinds County.

    Bennett said she believes the continued recognition of Confederate holidays “speaks to the blatant disregard of the humanity of Black Alabamians.”

    “We experienced a Holocaust, right. We experienced our families being ripped apart, and there is a celebration saying, ‘We wish things could have stayed the same,’ ” Bennett said.

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  • Why Diversity and Inclusion Is So Important for Startups | Entrepreneur

    Why Diversity and Inclusion Is So Important for Startups | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Diversity and inclusion are essential components of a successful workplace in any organization. When it comes to startups, the importance of diversity and inclusion cannot be overstated. Startups need to be innovative, adaptable and flexible to succeed, and having a diverse workforce can help to achieve these goals.

    Diversity generally refers to the range of differences that exist among people. These differences can include race, gender, ethnicity, age, sexual orientation, religion, education and culture, among others. Inclusion refers to an environment where all individuals feel valued, supported and included, regardless of their differences.

    For startups, diversity and inclusion involve creating a work environment in which everyone feels very comfortable sharing their thoughts, ideas and perspectives without fear of discrimination or exclusion.

    Related: Why You Need Diversity on Your Team, and 8 Ways To Build It

    Benefits of diversity and inclusion in startups

    1. Better decision-making:

    A diverse workforce brings multiple perspectives, experiences and ideas to the table. This diversity of thought can lead to more creative solutions and better decision-making. When a team is composed of individuals with different backgrounds and experiences, they are better equipped to identify challenges and opportunities and develop innovative solutions catering to a broader range of customers.

    2. Increased innovation:

    Startups need to be innovative to succeed. A diverse workforce can generate new ideas and aids to create products and services that cater to a diverse customer base. When individuals from different backgrounds and experiences come together, they can combine their unique perspectives and expertise to develop innovative solutions.

    3. Better customer understanding:

    Businesses need to understand their customers to develop products and services that meet their needs. A diverse workforce can help startups to better understand their customers and cater to a broader range of people. A team of individuals with different backgrounds can bring unique perspectives on customer preferences, cultural nuances and societal dynamics. This can lead to products and services that are better tailored to customers’ needs.

    4. Better problem-solving:

    A diverse team is better equipped to identify challenges and develop solutions that cater to a wider range of people. Startups must be agile and adaptable; a diverse team is better suited to this task. By leveraging a team’s diverse experiences and perspectives, startups can develop solutions that cater to the unique needs and preferences of diverse customers.

    5. Improved employee engagement:

    A diverse workforce that feels valued and included is more likely to be engaged and committed to their jobs. When employees feel like they belong and that their contributions are valued, they are very likely to be productive and motivated to help the company succeed. This can lead to better morale and higher employee retention rates.

    6. Enhanced creativity:

    Diversity and inclusion help to create an environment that respects and embraces different perspectives, cultures and ideas. This can spur creativity and innovation, resulting in a wider range of ideas and solutions that may not have been generated through a homogeneous work environment. A diverse and inclusive workforce can open up a world of possibilities for startups, helping them to solve problems and face challenges in new and imaginative ways.

    7. Competitive advantage:

    Companies that embrace diversity and inclusion are very well positioned to attract and retain top talent. A diverse workforce that values different perspectives and experiences can help businesses to tap into new markets and cater to emerging customer needs. This can ultimately translate into a competitive advantage in the marketplace.

    8. Improved reputation:

    When startups prioritize diversity and inclusion, it can positively impact their reputation within the industry and in the eyes of potential customers. Companies seen as socially responsible and inclusive may be more attractive to consumers and can help build a positive brand image.

    9. Mitigating risk:

    Diversity and inclusion can help mitigate workplace risk by reducing bias and promoting fairness. When teams are composed of individuals from different backgrounds and experiences, there is less risk of groupthink, which can lead to poor decision-making. Additionally, promoting diversity and inclusion can reduce the risk of costly legal battles resulting from discriminatory workplace practices.

    Related: Diverse Teams Drive Innovation in Ways Homogeneous Teams Just Can’t

    Strategies for promoting diversity and inclusion in startups

    1. Embrace diversity in hiring:

    Startups must embrace diversity in recruiting and hiring to build a diverse workforce. This means looking beyond traditional recruiting methods and expanding the search for talent to include diverse communities. By recruiting from a wider range of backgrounds, startups can build a stronger team with diverse perspectives and experiences.

    2. Train employees on diversity and inclusion:

    Training is essential in promoting diversity and inclusion in the workplace. Startups should regularly train employees on diversity and inclusion best practices, including unconscious bias training. Employees should understand the importance of embracing diversity and creating an inclusive work environment.

    3. Create a culture of inclusion:

    Creating a culture of inclusion involves valuing and respecting all employees and fostering an environment where everyone feels very comfortable sharing their thoughts and ideas. Startups can achieve this by promoting transparency and open communication, providing opportunities for feedback and recognizing and celebrating diversity.

    4. Establish diversity goals:

    Startups should establish diversity and inclusion goals and measure progress against them regularly. By setting goals and tracking progress, startups can ensure that they are making progress toward creating a diverse and inclusive work environment.

    Overall, diversity and inclusion are essential components of a successful workplace in startups. A diverse workforce brings new perspectives, experiences and ideas to the table, leading to increased innovation, better problem-solving and a better understanding of customers. By promoting diversity and inclusion in recruiting, training and culture, startups can build teams that are better equipped to counter the challenges of an ever-changing business landscape.

    Related: Diverse Hiring and Inclusive Leadership Is How Startups Thrive

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    Chris Kille

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  • Why Employers and Employees Aren’t Agreeing on Expectations | Entrepreneur

    Why Employers and Employees Aren’t Agreeing on Expectations | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In just seven years, we will face a global worker shortage of 85 million people, according to the 2023 Workforce Trends ManPower Group report. That means there will be major shifts in the power balance between employees and employers. Traditional employers with a command and control leadership style will have less power as power shifts more to employees.

    With increased power over employees, expectations are shifting. Consider these statistics:

    • 31% of current workers would take another role in the next month if it offered a better blend of work and lifestyle.
    • 68% of Gen Z workers are not satisfied with their organization’s progress in creating a diverse and inclusive work environment and 56% would not accept a role without diverse leadership.
    • More workers think that the ability to collaborate (83%), solve problems (82%) and be trustworthy (82%) are more important to do their job well than simply being a high producer (76%).
    • 57% of employees are already pursuing training outside of work, because company training programs don’t teach them relevant skills.
    • 75% of investors say companies should address ESG (environmental, social and governance) issues, even if doing so reduces short-term profitability (diversity, equity and inclusion fit in the “S”).

    To address these growing macro trends, organizations need to:

    • Model and reinforce workplace flexibility — especially senior leadership).
    • Objectively measure employee performance (a.k.a. behaviors + results).
    • Proactively address ESG social issues before it is mandated.

    Related: How to Balance Employee Happiness and Business Expectations

    1. Model and reinforce workplace flexibility — especially senior leadership

    Considering nearly one-third of workers would leave their roles immediately for better work-life integration, this signals a growing expectation for authentic flexibility. No longer a nice to have, it is a must-have for workers. More traditional cultures have been slow to change, expecting employees to return post-pandemic to the status quo. Rather than retreat to past notions of workplace expectations, this is an opportunity to shift to meet shifting employee expectations. People are looking to leaders to not just say flexibility is important but to model it through their own actions. As leaders work remotely and take time off, employees feel safer doing so as well.

    Here are some unconventional ways leadership can promote flexibility (Note: For front-line workers, virtual work may not be a possibility and flexibility can be more constrained):

    • Host a workplace offsite at a remote location where employees can bring their families, mixing work and life in a relaxed environment.
    • Set expectations for in-person days in the office environment. Consider maybe one or two designated days per week that your employees are expected to be physically present, and working from home the remainder of the days.
    • Be clear about holiday observances cross-culturally. Be cognizant of holiday celebrations and out-of-office obligations.
    • Talk to team members about their travel interests or family visits, encouraging them to work from other locations if they can and want to during less busy times.

    2. Objectively measure employee performance (behaviors + results)

    Subjective criteria invite bias into the performance management process. More often, inclusive behavior is just as important as the ability to get results. If your employees are getting results with exclusionary behavior, they need to be held accountable for these behaviors as well — trust, collaboration and problem-solving skills. Increasingly, toxic workplace behavior is a key reason for employees self-selecting out organizations. If you tolerate toxic behavior because the person is getting results, it’s the same as saying toxic workplace behavior is acceptable.

    Consider adding competencies to the performance management process to ensure people are not only getting the results but they’re being held accountable for their behavior. Competencies like communication, leadership, empathy and vulnerability are highly correlated with healthy workplace cultures. What gets measured and gets done. When people are held accountable for their behavior, the culture shifts.

    Related: Employees Only Meet Expectations When They Know What’s Expected

    3. Proactively address ESG social issues — before it’s mandated

    Europe’s expected mandate of ESG reporting will affect any organization that does business in Europe. Rather than having to react once enacted, it’s important to proactively prepare. Because diversity, equity and inclusion (DEI) are a part of the social component of ESG, organizations will be expected to report on DEI activities and representation numbers. Investors, customers and employees alike are asking how organizations are contributing to positive social change. As the power continues to shift to employees, expect this question to be asked more often, realizing future consumers and employees are voting with their dollars and employment decisions. People want to work with organizations that are creating social good.

    Case study

    A Fortune 25 client of ours in the financial services industry realized this shift in employee power. Instead of maintaining the status quo, they decided to develop a program that responded to changing employee needs. They built a nine-month Men as Allies program with a curriculum to support learning on flexibility, inclusive leadership skills and how to effectively mentor and sponsor people different from themselves. The result was a boost in year-over-year membership growth of 30% for women and 40% for men as allies. Promotion rates and retention for women in the program increased as well.

    With a growing disconnect in workplace expectations, it’s important that organizations realize that the workplace needs to change, not the employees. By modeling flexibility, measuring employee performance and anticipating ESG expectations, we can meet employees where they are and create more inclusive workplaces where all people feel seen, heard and feel like they belong.

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    Julie Kratz

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  • 5 Reasons Your Team Keeps Making Mistakes & What to Do | Entrepreneur

    5 Reasons Your Team Keeps Making Mistakes & What to Do | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Muhammad Ali, Tom Brady, Babe Ruth and Michael Jordan are some of the greatest professional athletes the world has ever known, but even these legends occasionally dropped the ball (as it were). It’s only natural, then, that your team members will occasionally do the same.

    Even the best employees will occasionally miss out on an opportunity to deliver, but, of course, it’s especially concerning for management when they keep dropping the ball and impact organizational growth in the process.

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    John Boitnott

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