In an unprecedented global election year, the financial services sector and other industries stand at a pivotal crossroads. Geopolitical unrest and societal shifts are redefining the landscape of corporate responsibility and what it means to be a responsible and sustainable business.

As we step into January 2024, the unfolding business landscape (and entertainment one, thinking of Katt Williams and his Club Shay Shay interview!) seems to hint at a year characterised by unparalleled transparency, accountability with a heavy dose of noise and angst.

If I had a pound for every time I heard this question, or a variation of it - usually in reference to our mission of transforming the experiences of Black employees being those most impacted by racism, bias and discrimination - well let’s just say I would be a very happy woman drinking rum punch in a land far, far away!

In the rush to respond to increasing societal and stakeholder pressure to “do something” after the murder of George Floyd, jumping in headfirst to set diversity quotas or targets became the central strategy to showcasing commitment.

Corporations tend to like them (to differing degrees) because both are specific and timebound quantitative measures. However, quotas are usually mandated and sometimes legislated whilst targets are generally more aspirational.

The "groundwater approach" is a metaphor used to explain systemic issues related to racial inequality. In this context, it suggests that instead of dealing with individual instances of racial bias or discrimination (akin to addressing the "bad apples" or homing in on the "symptoms"), leaders should focus on addressing the deeper, systemic, and structural issues that contribute to racial inequality (akin to addressing the "contaminated groundwater" that affects the entire "ecosystem").

“We have an open door policy and we listen to all our colleagues. Those issues are in society. We definitely don’t have that problem here. I would know if we hired racist people.” CEO, 2021

None of us could imagine a time when there was an expectation for anyone, other than HR(!), to have conversations about race and racism.

You could probably never foresee that you, and other members of your board, would have to spearhead some of these conversations and take accountability for turning commitments into action.