Irvin on Breaking the Silence at Work

the workplace. She spent more than decade on Wall Street, including a Bank of America, Bank of America Merrill Lynch excuse me, where she led global equity asset management. She is also co chair of the Human Rights Campaign's National Business Advisory Council, and it's a form of diversity leaders from fortune companies. She's also founding executive member of Open Finance. It's a consortium of l g B, d Q leaders

advancing inclusion across Wall Street. I feel like, Lenia Irvin, you represent so much at the conversations that we've been having about the last fourteen fifteen weeks and certainly in the last month. She joins us on the phone from New York City. Welcome welcome to Bloomberg. Thank you for having I have to say talk about timing year. I think roughly what four months in on your job. We've been dealing with the virus UM. Of course, the aftermath of George Floyd. UM, a lot of talk about diversity

and racism around the country. Talk to us about your last four months. Well, you know, it's been an extraordinary leadership condition, I would say, UM, you know, definitely, you know, UM, an unexpected UM moment. I think we honestly we are we find ourselves on a tremendous moment of pain and complexity in this country. UM. And obviously that wasn't something I expected uh in March when I made the transition,

but obviously something that UM I leaned into. You know, I think we are our firm obviously advantage research and advisory, and this was an opportunity for us to connect with our half course in a more meaningful way. UM. It's required a more human centered leadership, and that's something that I've been champion championing with large corporate I've been advising.

But though it's been it's been extremely tough. It's extremely tough to witness the disproportionate impact and what maybe really when maybe lasting um uh you know, could have change in our society both positive um but potentially um heartbreaking as well. You know, Lena, I had a CEO that I was talking to yesterday who is black, talk about the his fear that this is but a moment. You know that this is just another moment that we sort of recognize, we live in it for a little while.

We all sort of look around and say, ah, this is terrible, and I wish there was something we could do, but it's fleeting. What do we do to prevent that from happening? Well, you know what, I hope that this time is different because the stakes are higher. You know, the world is watching. At this point. We've seen quite a few UM CEOs and you know leaders come out with corporate state statements obviously denounced being racism and injustice, and I think that's been chast it. But I think

the expectation is much greater now. Companies need to commit to doing the work internally so they actually have the right to make these statements, uh during times of global and national significance. Um. So I think that that is is where this one moment is difference in where I'm optimistic that they might actually kind of deliver on, you know, a promise. Man, I just want to kind of sit

with that for a moment. What you just said. Leaders are coming at making statements, but they have to do the work internally to justify their right to make those statements externally. That's huge, and I think that is what could make this time different. Correct, definitely. I think this is what m you know, the we have to think

we have. We are dealing with, you know, multiple crises simultaneously, right, global health pandemic which allowed to tremendous uncertainty and the severe in severe economic dislocation, and we now have millions of people right who have experienced rapid human laws, death, unemployment. UM. You know, obviously we witnessed the taking a black slide at the hands of the police, and so you're you're dealing with the community, you know, a nation state filled

with collective Greek right. Um. You know, I a few weeks ago, UM, in a newsweek UM opinion piece that I tended, you know, I write about the right to anger and rage keeping through and you know I I I write over time, fear and grief become fault lines hastening and eruption, interruption and collective outcry for justice. And what that basically meant was, you know what we're witnessing now right on rest, It shouldn't be surprising to anyone. Right,

people can only push down such courage. People can only of you know, of withstand such as violence and countless downgrades to one's dignity before interruption occurs. Right, you had people home, you had people, um, you know, suffering lack of access to quality health care. Uh, and then you you know, it's compounded by witnessing yet another death. And so I think this is an instance where the call to action is clear because it's coming from um, you know,

the country as a whole. Right, we have nothing else to distract us, Right, We're not hopping on a subway and heading into the office. We can't go to a movie or grab a grab dinner with friends. We have nothing but opportunity to folk us on what the crisis have exposed once again, which is structural inequality in our society.

All Right, We're going to continue this conversation because we've got a lot more questions for you, Lania, and just love some of the things that you're saying and the urgency with which you're saying it, because it feels like that's going to be key for these conversations continuing and for conversations, as you said, Carol, I think a little bit earlier in the show, for the conversations to lead to action, to measurable action where you can have this

and I've had a number of conversations this week about this as well. But what Lena said about this whole idea that if you're going to make public statements, you better be doing the work basically at home that will lead to those structural changes, and that's what gives you the right to make the statements externally. Right, We've heard a lot of talk it's all about actions. Now, make a difference, change the system, change the structure that has

been the foundation and basis of the inequalities. We're going to continue that conversation in just a moment. Well, let's get back to our conversation with Linnea Irvin. She is the president for the Center for Talent Innovation. Johns on the phone from New York City. We're in the midst of a great conversation around what happens next, what we should be doing, and maybe more importantly, what leaders should be doing in their companies and having conversations about race

in the workplace is so important, Lena. You mentioned earlier in the conversation this notion of human centric leadership, which I think is critical here. What does that look like in a remote world? What does it look like in a world right now where people are really trying to figure out how to talk to each other? Right? Well, you know, I think well, conversations are are critical, right um,

opening up safe space for real dialogue. UM. You know, it's a great way to ensure that your employees steel heard, you know, um, ensure that they're seen. But it's also a really great opportunity for leaders and would be allies to listen, right, be active in in uh their leadership, um, and and demonstrate from awareness of this moment in time the context in which we live disproportionate impact. Right. UM.

I'm sure many leaders are. Of course they're considering UH, COVID nineteen and unemployment rates and UH and obviously they cannot unsee racism and polute police brutality. UM. But at the same time, are they communicating, are they signaling to their employee base at this is top of mind for them. Um, you know, I think you know, I hosted a similar conversation uh, you know, within my organization a couple of

weeks ago. And you know, while on one hand it was tremendous vulnerability from a leadership standpoint to share my experiences in the end after listening to uh, you know, the team share, but on the other hand, it was extremely powerful. Right. It's important for leaders to be visible, to be vocal, And in this case, even if the conversation was difficult, it offered up space for storytelling, it offered offered up meaningful bridging capital, and brought the team

closer together. And so I think conversation is a good place to start, uh, you know, for for leaders looking to connect with their employees at this time, Lennie. The other thing, you know, and it's something Jason and I have talked a lot about in particular over the past month.

Um made a conversation conversation with John O'Brien of Operation Hope, and and what's interesting is he was talking with younger a younger population, you know, about why people are protesting and why does it get kind of sometimes, you know, out of control a little bit, And and they said to him, you know, you have a seat at the table. You get to go to the White House, you get to talk to executives. We don't have a seat at the table. You know, we're not in the room when

it all happens. And so it's and as he said to us, this is a poverty issue. This is this is you know, a much deeper entrenched problem in our situation, in our system. What do you think we as all leaders and who have voices, what can we do to change that? How do we change that? Well? Right, well, I mean, first admit that there is entrenched bias, right that is that that creates barriers to UM success or you know, access to meaningful work. But just you know

that admission alone is a great step. And then I think, you know it's important for leaders to you know, be intentional about what they can control, you know, whether that's you know, hiring, development, promotion of key talent. Um. You know, representation is and in visibility is really important. Our research find um that you know, it's probably one of the most important things when we do have UM talent. Uh,

some talent frustrated with their advancement. One in five black professionals, for example, UM feel that some of their race could never achieve a top position at their company. I mean they can envision a reflection of their own image in the C suite or a CEO, right compared to uh three percent as like professionals. Right. And then professionals of color you know, as a whole are less likely to

have access to senior executive advocates. One fifth of black employees and I would note of Asian professionals say that not a single leader knows them by name. Imagine being rendered invisible in connection to power and the long term

impact that could have on one's career. Right. So I think one one thing that will help, UM, you know, organizations kind of bridge with with you know, emerging talent, those that are coming up in these organizations and they are UM looking to eventually have a seat at the table. Acknowledge that there is a disconnect, right, Um, there's a there's a in are being black and Corporate America research. One really big finding was a perception gap, UM that

was unveiled in the data. Uh So black professionals, for example, they witnessed, you know, they experienced serious to advancement, but they seem this seems largely invisible to their white colleague. So where slack professionals say yes, black talent has to work much harder to advance, only of their colleagues agree with that statement. So there's there's a material yet, there's a material procession gap that makes overcoming the hurdle of retention, development,

advancement that much more difficult. It's just a reminder that there's still I feel like so much we all have to learn in this process. Um, Lenia, thank you so much, and I hope we can check back with you again in the future. Really really appreciate your time on this Wednesday. Lenia Irvin, she's president of the Center for Talent Innovation, joining us on the phone from New York City. But you know, she is someone who understands diversity inclusion from

so many different perspectives. Jason has worked on Wall Street, which is you know, can be hit a place when it comes to those both things. Know, that was really what I wanted to We're gonna have to have her back because I do feel like, you know, in our little world here, if Wall Street can figure this out, I really feel like literally anyone can. And so what does she think the conversations that need to happen. You know,

we're starting to see some movement. You know, Larry Fink coming out and talking about the high, setting specific goals to hire black workers at his shops Blackstone, to coming out in terms of how they're gonna do recruiting. It's not just taking from other already Wall Street firms, but actually being much more aggressive on campus to bring in new bodies. So really important UM actions, actions, actions, That's what it's about.