Advancing Supplier and Governing Board Diversity
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Deadline for submissions is the 15th of every month.
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June 2020 Newsletter Preview
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I. What’s New:
- Welcome from the Insurance Diversity Initiative
- Pride Month
II
.
In the Community:
- How Should You be Talking to Employees About Racism?
- How Small Business Owners Are Banding Together to Adapt During the Coronavirus Pandemic
III. Spotlight on Diversity:
- Supplier Diversity: COVID-19's Effect on Minority-Owned Small Businesses in the United States
- Governing Board Diversity: COVID-19 & the Board : A Chair’s Point of View
IV. Announcements:
- 2nd Quarterly Diversity Task Force Meeting
V. Diversity Events Calendar
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Dear
Hello,,
We recognize that this moment needs to translate into long-term structural changes, and we are committed to doing our part to help shape the narrative that impacts our diverse business communities. As we honor the contributions and legacies of the LGBTQ community, we are also reminded of the importance of using our voices to shape the trajectory of our own narratives, while amplifying the voices of historically marginalized communities.
Earlier this month, we issued a statement alongside the Chair of the Insurance Diversity Task Force:
We are fundamentally opposed to racial injustice and the mistreatment of members of the Black community and anyone based on race, ethnicity, age, gender, sexual orientation, or religious preference, among other legally protected classes. We are focused on the power of equity and inclusion, and will continue to embrace our unique identities, experiences, and points of view to advocate for underrepresented suppliers and underserved communities. We remain committed to making a positive difference by advancing diversity in the insurance industry.
A key part of our commitment to you involves providing access to timely and relevant resources that will assist you. For business owners who have been impacted by the current events, the Department’s teams from Community Outreach and Consumer Services have begun reaching out to affected communities lending our support and have prepared a helpful
FAQ
to assist California business owners. The FAQ is available in multiple languages including
Spanish
,
Vietnamese
,
Hmong
, and
Mandarin
.
The Insurance Diversity Initiative was founded upon the principles of diversity, equity and inclusion by advancing opportunities in supplier and governing board diversity within the insurance industry. We will continue to keep these ideals at the forefront in the work that we do.
Take care,
The Insurance Diversity Initiative Team
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Lesbian, Gay, Bisexual, Transgender and Queer (LGBTQ) Pride Month is currently celebrated each year in the month of June to honor the 1969 Stonewall Uprising in Manhattan, a series of protests against police raids and acts of brutality inside the Stonewall Inn led by LGBTQ activists, including a Black trans woman,
Marsha P. Johnson
. June 2020 marks the 51st anniversary since this event. The first Pride march in New York City was held on June 28, 1970 on the one-year anniversary of the
Stonewall Uprising
. In the United States, the last Sunday in June was initially celebrated as "Gay Pride Day." In major cities across the nation, the "day" soon grew to encompass a month-long series of events. Normally celebrations include pride parades, picnics, parties, workshops, symposia and concerts, but Pride 2020 looks a bit different this year. In response to the COVID-19 pandemic, cities that have customarily held large events have moved to virtual platforms to celebrate. For example, New York City will conduct all of its
Pride in 2020
online from June 14-28, and San Francisco will hold their
SF Pride 2020
celebration virtually from June 27-28. The purpose of the commemorative month is to recognize the impact & contributions that members of the LGBTQ+ communities have had on history locally, nationally, and internationally.
Learn More:
- Read the full article about the history of Pride month from the Library of Congress
- Read about Black trans perspectives and the Anniversary of Stonewall
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How Should You Be Talking to Employees About Racism?
Diversity and inclusion experts weigh in. One throughline: It's better to grapple with the issue openly than say nothing because you're afraid of getting it wrong.
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Protests
over the murder of George Floyd show no signs of slowing down, and at work this week, most bosses found themselves in the position of addressing the unrest. For black leaders, our country’s legacy of
racism
is painfully familiar, so most can talk fluently about their experiences of oppression. Some may welcome the opportunity to speak right now, but many will find the prospect of educating their white counterparts exhausting. Be aware that it's an emotionally tumultuous time for communities of color.
As for white leaders, some might have already begun their educational journey — perhaps implementing diversity initiatives at their companies — but most are realizing they still have a long way to go. Some are comprehending that they’re very much at the starting point. Leaders may be grappling with how to make their employees of color feel supported, or with the fact that they have very few black employees or employees of color at all. Generally, they might be struggling to find language to address all the pain, confusion and anger, and with how to begin making genuine change within their own businesses, as well as the larger business community.
“Understanding race and race equity is a process,” says
Lisa Brown Alexander
, president and CEO of
Nonprofit HR
. “Most people are socialized around certain beliefs and perceptions, and it's not easy to unpack those overnight. So admitting that you're at the beginning is the first step. Admitting you don't know something is hard, but the kind of tenacity that you need to build your business is the same kind of tenacity you need for understanding race and race equity in today's climate.”
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How Small Business Owners Are Banding Together to Adapt During the Coronavirus Pandemic
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After two years of planning, chef Helen Nguyen was scheduled to open her first restaurant, Saigon Social, in mid-March in downtown New York City. Saigon Social, however, never got the chance for diners to enjoy its Vietnamese comfort food in-person before the coronavirus pandemic hit, bringing with it state and city mandated closures of restaurants and bars.
“As a first-time restaurant owner and being relatively new to the city, there was a lot of hard work and sacrifice that was made just to get to this point,” Nguyen tells
TIME.
“We had to retract all of the job offers that we had just given because we no longer had a permanent offer or opportunity to provide them. We were so close and then had to take a step back.”
While Nguyen used the initial days following the shutdown to transition her restaurant to takeout only, she soon found that there was a community of restauranteurs in her neighborhood who not only shared her concerns, but wanted to help each other — and for good reason. According to a survey by the National Bureau of Economic Research, “43% of businesses have temporarily closed and businesses have – on average – reduced their employee counts by 40% relative to January.”
While it’s easy to assume that competition might be the default response during what might be the first
global economic depression of our lifetime
, some small business owners are leaning on the old adage that they’re stronger together in an effort to keep their businesses and communities healthy and safe.
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SUPPLIER DIVERSITY SPOTLIGHT
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COVID-19's Effect on Minority-Owned Small Businesses in the United States
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Whether by necessity or ingenuity, minority-owned small businesses may be giving us an early
sign of how US businesses will adapt in the wake of COVID-19. These businesses are experimenting
with new ways of working to ensure their employees’safety, offering monetary relief to employees and
community members, and introducing new services such as free delivery to those who need it.
According to our recent poll of more than 1,000 small businesses nationwide, more than 40 percent of minority-owned small businesses have added new services to support their communities and employees, compared with 27 percent of all respondents. A majority of minority entrepreneurs are optimistic about economic recovery in general: 56 percent of minority small-business owners reported that they were optimistic about post COVID-19 economic conditions, compared with 49 percent of all respondents.
Yet minority entrepreneurs, facing myriad challenges, are also concerned about risks to their own businesses. Of all vulnerable small businesses, minority-owned ones may be most at risk. Many
were in financially precarious positions even before COVID-19 lockdowns, and minority-owned small
businesses often are in industries more susceptible to disruption. Ensuring that these businesses
survive in the current circumstances will require fundamental shifts in how private-, public-, and social-sector organizations come together to support them.
# # #
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GOVERNING BOARD DIVERSITY SPOTLIGHT
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COVID-19 and the Board : A chair’s point of view
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The global COVID-19 pandemic has hit all states and provinces in the United States and Canada and as of this writing, the number of cases is rising every day. While our countries and others around the world grapple with how to respond, businesses should be supporting the health and well-being of their people and initiatives to help “flatten the curve”. None of us can predict the true impact of the pandemic on the global economy, but at this pivotal moment, there are clear choices to be made. The way in which boards do their work at this time will be a critical factor in an organization’s ability to emerge from the current crisis and push forward into a new era of economic recovery and opportunity for the benefit of all stakeholders.
To accomplish this, boards—while maintaining appropriate separation from management—should
support executive leadership and share the burden. Boards should also acknowledge there is no off-the shelf playbook for the current situation, and that they must be flexible and pragmatic in how they govern
their organizations. As two chairs experiencing this within our own boards and those of our clients, we see five principles that strong boards exemplify as the crisis unfolds:
- Take Care of Each Other
- Challenge the Operating Model of Your Board
- Be Flexible in Board Engagement
- Take the Long View
- Ask Deliberate Questions
# # #
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Rescheduled Date: June 24, 2020
Time: 10:00 AM - 12:00 PM (PDT)
Location: Virtual Teleconferencing via WebEx
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DIVERSITY EVENTS CALENDAR
JUNE/JULY
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JUNE
June 14 - 28, 2020
This event will be held virtually
June 19, 2020
June 27-28, 2020
This event will be held virtually
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JULY
July 29, 2020
This event will be held virtually
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To submit a request to add your Supplier Diversity or Governing Board Diversity-related event, please contact us at:
diversity@insurance.ca.gov
.
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# # #
The Insurance Diversity Initiative was established in 2011 to address diversity issues within California's $310 billion insurance industry. Specifically, these efforts are meant to increase procurement from California’s diverse suppliers, as well as to increase diversity amongst insurer governing boards. To accomplish these goals, the Department conducts outreach, creates partnerships, hosts events, and most importantly, administers surveys to collect and publicly disseminate information about the state of diversity in the insurance industry.
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INSURANCE DIVERSITY INITIATIVE
Office of Insurance Commissioner Ricardo Lara
California Department of Insurance
(916) 492-3317
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