ELC Institute Journal - Spring 2022 by elcinfo

The Executive Leadership Council Journal

A Research Journal for Black Professionals Spring 2022

The Executive Leadership Council Journal

A Research Journal for Black Professionals Spring 2022

Copyright © 2022 by The Executive Leadership Council, Inc. All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the publisher, except in the case of brief quotations embodied in critical reviews and certain other noncommercial uses permitted by copyright law. ISBN 978-0-578-39991-1

Contents Letter from the Editor.............................................................. 1 The Importance of Supply Chain in the Board Room.................. 3 by Shelley Stewart, Jr.

Your Brand on Purpose...........................................................11 by Amanda Rey, MA and Ramien R. Pierre, Ed.D.

Generativity and Relational Wealth: Using Stewardship to Open the Door to Prosperity....................19 by LaTanya White, Ph.D., MBA

The “Great Resignation” and Black Professionals in Corporate America.............................................................. 27 by Justina Victor

Overseeing Effective Corporate Strategy Implementation: A Diversity, Equity and Inclusion (DEI) Case Study ................... 37 by Dr. Akosua Barthwell Evans

Developing 21st Century Leadership Skills ..............................43 by Peter A. James, PhD, MBA, PCC

About the Contributors........................................................... 51

Letter from the Editor There’s a popular line: “Do the best you can until you know better. Then when you know better, do better.” What I appreciate most about the sentiment behind this quote is how it contains both the promise of hope and a call to action. Those two themes resonate strongly with the articles in this issue of The Executive Leadership Council’s research journal. In The “Great Resignation” and Black Professionals in Corporate America, Justina Victor illuminates the opportunity this reflective moment is giving employers to see what factors are driving the turnover and retention of Black talent. In Generativity and Relational Wealth: Using Stewardship to Open the Door to Prosperity, Dr. LaTanya White shows how promoting Black dynastic wealth requires leveraging the concept of stewardship to increase the generative intent – and not just the corporate success – of Black professionals. This issue contains specific calls to action for corporate directors. In Overseeing Effective Corporate Strategy Implementation: A DEI Case Study, Dr. Akosua Barthwell urges corporate directors to apply the same rigor they use for more general strategic business initiatives to their DEI work, while in The Importance of Supply Chain in the Board Room, Shelley Stewart, Jr. provides a compelling argument for how all directors and C-suite executives need a more-than-basic understanding of supply chain management if they want to effectively pursue their ESG, risk management and revenue goals. Lastly, two articles provide guidance for future Black professional success. Amanda Rey and Dr. Ramien Pierre’s Your Brand on Purpose is a reminder of how job execution is not enough to ensure workplace success, while Dr. Peter James points out the six proficiencies that will lead to success in his article, Developing 21st Century Leadership Skills. My hope is that you find both pearls of inspiration and actionable tactical advice in the pages of this journal issue.

Christopher Butts, Ed.D. Vice President/Chief Learning Officer for the Institute for Leadership Development & Research The Executive Leadership Council

STEWART

THE IMPORTANCE OF SUPPLY CHAIN IN THE BOARD ROOM

The Importance of Supply Chain in the Board Room by Shelley Stewart, Jr. The relevance and importance of robust supply chain management have been highlighted over the last year to a degree I have not experienced in my 40-year career as a supply chain practitioner. Corporate supply chains are at a critical inflection point prompted initially by the pandemic and subsequently with the continued spate of cyber-attacks.

SHELLEY STEWART, JR. is Managing Partner - Bottom Line Advisory LLC.

THE ELEMENTS that comprise a robust supply chain: planning, sourcing, making, and delivering are at the foundation of every company’s ability to serve customers. As a director on two public company boards in two very different industries, I have seen how critical it is for the board to have an intimate knowledge and understanding of the companies’ supply chain. Board members should look to their supply chain to deliver performance and remain resilient in this changing business environment. A good supply chain will create an enduring competitive advantage for the company. De-risking the supply chain, particularly global supply chains, will be a top boardroom issue from a post pandemic perspective. In a PWC survey from 2020,1 34 percent of CFOs indicated that “supply chain issues were among their top three concerns.” Additionally, 30 percent indicated that they were considering making changes to the existing supply chain due to the pandemic.2 The focus of executive leadership and the board must center around greater supply chain agility and resilience. Key questions that must be considered:

STEWART

■ How much should be outsourced vs. insourced? ■ What are the risks associated with outsourcing to certain geographies? ■ How do we create a supply chain that can sense and assess risks before they materialize? ■ What are the down streams implications of supply chain issues, and how do we mitigate them? ■ When supply chain disruption occurs what contingencies are in place? There are significant financial implications associated with poor supply chain management. A recent study by McKinsey & Company estimates that a company could expect to lose over 40 percent of a year’s operating profit every decade due to supply chain disruption.3 This translates to hundreds of billions of dollars in lost value for shareholders. The board has a responsibility to be proactive in protecting shareholder value linked to the supply chain issues.

THE IMPORTANCE OF SUPPLY CHAIN IN THE BOARD ROOM

Figure 1. Net Present Value

Supply-chain-disruption losses equal 42% of one year’s earnings before interest, taxes, depreciation, and amortization on average over a decade. NPV for a major company,*** $ million

Net present value (NPV) of expected losses ** * over 10 years % of annual EBITDA

NPV of expected losses,*** EBITDA margin, % point

Aerospace (commercial)

66.8

1,564

7.4

Automotive

56.1

6,412

7.3

Mining

46.7

2,240

8.4

Petroleum products

45.5

6,327

8.9

Electrical equipment

41.7

556

5.4

Glass & cement

40.5

805

6.2

Machinery & equipment

39.9

1,084

6.5

2,914

5.9

Textiles and apparel

38.9

788

7.8

Medical devices

37.9

431

8.7

Chemicals

34.9

1,018

5.7

Food and beverages

1,578

7.6

Pharmaceuticals

1,436

Computers and electronics

*Based on estimated probability of a severe disruption twice per decade (constant across industries) and proportion of revenue at risk due to a shock (varies across industries). Amount is expressed as a share of one year’s revenue (ie, it is not recurring over modeled 10-year period). Calculated by aggregating cash value of expected shocks over a 10-year period based on averages of production-only and production and distribution disruption scenarios multiplied by probability of event occurring for a given year. Expected cash impact is discounted based on each industry’s weighted average cost of capital. **Earnings before interest, taxes, depreciation, and amortization. ***Based on weighted average revenue of top 25 companies by market cap in each industry. Source: McKinsey & Company

STEWART

A recent white paper from the World Economic Forum in collaboration with the consulting firm Kearney4 points out five important areas for the future. 1 Adopting the overall supply chain set-up by carefully managing interdependent levers such as dual sourcing, complexity reduction, and localizing. 2 Doubling down on investments in advanced manufacturing technologies that were attributed to an essential role in ensuring a quick reaction to the crisis. 3 Adjusting the operating model to allow for a more flexible and decentralized manufacturing organization with a consistent risk management system in place. 4 Redefining external relationships and capturing new opportunities from cross-industry collaborations models. 5 Reviewing and challenging the product portfolio to reduce complexity and refocus on key strategic directions.

As the economy rebounds, global supply chains are stressed to the breaking point due to insufficient executive and board focus, among other factors. Demand is driving prices higher, and we see significant shortages, for example, with electronic components. These shortages are impacting everything from car manufacturing to iPhone production. Similarly, basic materials such as lumber, which is up more than 300 percent since April of 2020, are disrupting supply chains across several industries. Companies are exercising force majeure clauses in unprecedented numbers due to these issues. Not all of this could have been avoided, given the global pandemic, but better preparation for the future is essential and expected by shareholders. Companies also realize that their supply chains are critical to achieving their Environmental, Social, and Governance (ESG) goals, and the board must ensure a comprehensive plan is in place. From the (E) environmental perspective, areas like raw material sourcing, pollution, waste, and toxic emissions coming

THE IMPORTANCE OF SUPPLY CHAIN IN THE BOARD ROOM

from the supplier community will show up as a part of ESG metrics. The (S) Social contains supply chain labor standards and product safety and liability standards. In addition, this includes supplier diversity efforts. The (G) is all about governance and business ethics. The board helps set the standard for how the company interacts with suppliers with fairness and integrity. Larry Fink of BlackRock has also detailed his ESG expectations for companies that BlackRock invests in and a great deal of what he talks about lives in the supply chain. In his letter to shareholders, he asks companies to disclose their plans to incorporate long-term ESG strategies and makes clear that these commitments should be reviewed by the board of directors. For example, Fink looks to a net zero greenhouse gas emissions goal by 2050. Achieving this goal will require companies to cascade expectations and metrics down to their suppliers. For many years companies and boards looked for the supply chain to deliver cost savings and on-time delivery. Today, much more is expected of supply chain leaders and thus a more holistic approach, anchored in ESG, is required. As we seek solutions to build a strong supply chain, I go back to World Economic Forum Kearney report5 and look at the key imperatives of long-term success of manufacturing and supply chains that need to be in place coming out of the pandemic and moving into the future. Executive leadership and directors should ensure their organizations: 1 Rapid tailoring of supply systems. 2 Have agile manufacturing and supply system set-ups enabled by advance technology. 3 Logistics are coordinated across and within global supply chains. 4 Adopt new ways of working and governing to increase manufacturing resilience. 5 Share responsibility and collaboration among companies and authorities to address social and environment challenges.

STEWART

There is some debate on how deeply a board should be involved in the specifics of supply chain management. In this environment, the board must understand the supply chain dynamics well enough to challenge and provide guidance to management. This includes understanding how the supply chain is performing overall and the key risks that could materialize. Transparency is paramount and the board must require it of the executive team.

THE IMPORTANCE OF SUPPLY CHAIN IN THE BOARD ROOM

Notes: 1 – PricewaterhouseCoopers. (n.d.). COVID-19 CFO Pulse Survey: PwC. PwC. Retrieved March 16, 2022, from https://www.pwc.com/us/en/library/covid-19/pwc-covid-19-cfo-pulse-survey-1.html 2 – Ibid. 3 – Lund, S., Manyika, J., Woetzel, J., Barriball, E., Krishnan, M., Alicke, K., Birshan, M., George, K., Smit, S., Swan, D., & Hutzler, K. (2020, August 6). Risk, resilience, and rebalancing in global value chains | McKinsey. McKinsey & Company; McKinsey & Company. http://www.mckinsey.com/business-functions/operations/ourinsights/risk-resilience-and-rebalancing-in-global-value-chains 4 – World Economic Forum. (n.d.). Kearney | World Economic Forum. World Economic Forum. Retrieved March 16, 2022, from http://www.weforum.org/organizations/kearney-inc 5 – Ibid.

REY AND PIERRE

YOUR BRAND ON PURPOSE

Your Brand on Purpose by Amanda Rey, MA and Ramien R. Pierre, Ed.D. The Importance of Brand There comes a point in one’s career when technical competence alone is not sufficient to achieve career advancement. In fact, the combination of technical competence and the demonstration of emotional intelligence is often the deciding factor between candidates who are considered good versus exceptional. What does that tell us? It indicates that how we manage ourselves - our time, our stress, our work style - and how we build and cultivate relationships with key stakeholders -direct reports, supervisors, or industry peers - within the professional landscape is just as valuable or potentially more valuable when considering criteria for career advancement or industry transitions. AMANDA REY, MA is the Senior Program Manager for Custom Client Solutions at the Executive Leadership Council RAMIEN R. PIERRE, Ed.D is the Director at The ELC’s Institute for Leadership Development & Research

THE QUESTION THEN BECOMES how can we develop a personal ‘north star’ for ourselves to guide the consistent execution and alignment between our technical performance and our self and social management? The answer is simple: Create and live by your own brand and do it on purpose. We encounter brands every day. Whether it’s the joy of an intense game recalled by the Nike swoosh or the innovation and sleek design inspired by a quick glance of the bitten Apple, brands and brand imagery evoke emotion, a suite of products, and trust or distrust. The same is true for your own brand. The ELC community knows this to be true. In fact, 91% of Black professionals surveyed by The ELC reported having a personal brand. In a world where a solid work product alone isn’t enough to secure the promotion, one must be able to separate oneself from peers by evoking emotion and trust. Developing a brand, your own north star and calling card, 11

REY AND PIERRE

could aid in that journey toward differentiation. It is the hope of these authors that this article will serve as a roadmap for defining, designing and practicing your own brand with intention. Perceived brand vs. actual brand To have a brand is to know what you stand for and how that expresses in your work, behavior patterns and interoffice relationships. Without an awareness of self, your brand will gradually happen to you and not be authored by you. To design your brand is to drive your own narrative. A well-crafted, intentionally executed brand could be the difference between whether you are considered for stretch assignments, introduced to C-Suite operators, or granted access to promotion pathways. Simply stated: Brand development has the potential to impact career growth and yet, too few professionals possess a uniform understanding of how a brand is defined or develop a brand with intention. While 91% of those surveyed reported having a brand, when asked to define the concept however, there were two distinct groups: those who offered a definition and those who submitted a few words or phrases describing their own brand. For those who offered their own personal brand, the question remains: How do you know the phrases you submitted accurately reflect your work and behavior? Basically, is your self-perceived brand your actual brand or a submission of what you hope your brand is otherwise known as your aspirational brand? Does your brand align with your career aspirations? Next there was the group who defined the term brand. Of those respondents, there was little consistency in definition though several words emerged including perception, reputation, values, experience, and credibility. These submissions are not incorrect, but they bolster the notion that there is little clarity or a uniformed understanding around how a personal brand might be defined. Execution is not enough In addition to highlighting the splinter in defining brand, our research reinforced the idea that while Black professionals recognize the significant role brand plays in career development, there is still a tendency to focus on execution. The “keep 12

YOUR BRAND ON PURPOSE

your head down and let the work speak for itself” mentality is prevalent within the Black community with one respondent commenting, “I am busy trying to keep up with day-to-day tasks of job, family and education…” indicating there was little time for what the respondent referred to as extracurricular efforts. Another respondent commented, “Growing within my organization feels daunting. It feels crushing when people see my potential, benefit from it, and it doesn’t tend to pan out from an organizational growth standpoint.” Finally, another Black professional of the ELC community submitted, “I have lost focus on my personal brand in executing the normal work routine and balancing a new role.” These respondents are saying what we all already know: Quality work alone does not facilitate career growth. Career growth also hinges on relationship currency and few people are willing to facilitate introductions unless they know your work and character will reflect positively on their own work and character. The creation and practice of a personal brand is one way your internal and external industry peers might get to know you without even an introduction. Therefore, reflecting, drafting and refining a personal brand could be critical in making the shift from being perceived singularly as a task driven team member to a strategically driven team member. It is, of course, crucial to perform well but that is the baseline. To be seen as a strategic partner and to meet strategic partners who might facilitate your next steps, developing your brand needs to take center stage. Action + Output + Consistency = Branding Blueprint One of the goals of The ELC is to make career development and professional advancement clear and accessible. The ELC defines personal brand as the combination of one’s actions, output and the consistency with which each is performed. As stated, good work is not enough. Are you a collaborator? A communicator? Are you diplomatic? Curious? Humorous? Do you work well under stress? If so, how do you know? Finally, are you consistently producing quality work demonstrating alignment with your personal and company values? One 13

REY AND PIERRE

successful project experience does not sustain your brand. Several instances of quality output alongside demonstrations of personal and professional integrity does. Consistency creates reliability in work and behavior and that breeds trust. Cultivating trust earns career capital and gets you the large scale cross functional project or the influential introductions aligned with your future goals. The ELC model for personal branding (figure 1) is outlined like a pyramid because without a solid foundation, there is no peak. At the pyramid’s base are the components concentrated on action and output. As you can see, they are vision and storytelling. Vision is focused on values. Do you know what you care about? Often, we think we know our values, but we don’t actually know the full scope of which values we prioritize until they are questioned, compromised or violated somehow. If you do not know what you care about, you may not always understand when to advocate for yourself or your team. Identifying your values is a key step in understanding your brand. Without knowing what you stand for, you may be easily persuaded to take on projects that do not align with your values or your goals. Accompanying vision at the base of the pyramid is storytelling. Storytelling is an interpretation of values through the lens of your work and behavior. If you’re unclear on your values, your work and behavior may tell inconsistent or even competing stories. Clearly identifying your values facilitates an alignment between your values, your work and your behavior patterns. For example, if you care about transparency but do not share information with your team, you are not expressing your values in your work. Your actions tell a different story than you’d like to tell. If you care about communication but do not build consensus or ask questions when leading a project, once again, your work is not reflective of the story you’d like to tell. One of our respondents commented, “I have always been shy and a little introverted, not wanting to draw attention to myself, working quietly to achieve results.” Your storytelling is

YOUR BRAND ON PURPOSE

one method to draw attention to your accomplishments. Each time you interact with team members or deliver an assignment there will be a story told about you and your work. Make sure you are driving the narrative by being clear about your values and how they are expressed in your output. We’ve established that our actions and output are expressed through vision and storytelling. The third component of brand is consistency. As a result, notice clarity and trust inside of the pyramid in the figure provided. Your values and stories must be clear and repeatable. The repetition is what breeds the reliability. For example, if some of your values are communication, authenticity and creativity you might integrate big idea brainstorming into your check-ins with your team or your direct supervisor. Your integration of this process signals to the team that its input is valued, no idea is silly, and that each unique perspective contributes to the unique tapestry of the broader organization. The action is consistent with your values, happens on a rhythm and tells those around you of the same. Clarity is key to building consistency and consistency builds trust. Figure 1. The Branding Blueprint

BRAND

STORYTELLING Interpretation of data/ communicating case

TRUST + CLARITY

VISION Aspirational/ Integrates values

REY AND PIERRE

Tactics to revisit or establish your brand Before outlining tactics for establishing your brand, a caveat for your consideration: Your brand is a living breathing concept because you are a living, breathing and evolving being. After you’ve established your brand, it’s not necessarily set in stone. It is incumbent upon you to revisit it on a timetable that works for you (maybe once a year) to reflect and consider: Are these still my values? Is my portfolio of work reflective of my values and where I’d like to develop? That said, if you decide you would like to be intentional about building your brand, outlined below are tactics that might make the process of establishing or revisiting your brand run smoothly. ■ Identify your values. Write down as many values as you’re able and group the values that are related to one another. The more values you focus on, the more challenging it will be to focus on which values carry the most weight. Try to narrow it down to 3-5. ■ Align values to behavior. After you’ve identified your values, brainstorm 3-5 projects in your personal or professional life of which you are most proud. How do they reflect your values? Are there other values that emerge through this reflection? For example, you might have chosen structure as a value but it’s possible following this exercise, your favorite most valued projects reflect you enjoy the flexibility to create structure and therefore may be more entrepreneurial. ■ Pursue feedback. Now that you’ve established your values and understand how they may (or may not) be woven into your work, it is time to decipher perception versus reality through feedback. There are several ways to pursue feedback however, the most useful might be through 360 assessments, directly asking your supervisor or peers, or friends. For your professional network you might ask: What do you consider is my value add to the team? I’d like to refine my personal brand to be XYZ. What about my current work aligns from your perspective? For friends you might ask: What makes me a good friend? Asking for feedback could be scary because 16

YOUR BRAND ON PURPOSE

you’re purposefully placing yourself in a vulnerable position. You might hear something you were unaware of or don’t like. You might hear something you love. Either way, you’re unable to calculate the outcome. Remember that all of this is data to understand yourself more comprehensively. Like a regular data analysis, look for the patterns and identify the outliers and questions. This exercise will position you to understand which parts of your brand are actual and accurate and which elements are aspirational. ■ Establish goals. You have your values, you’ve reflected on your projects and you’ve gathered data. The next step is to determine what you’d like to do with this information and establish goals that will help you reach your next step. You might find that your brand is strong and aligned with your goals except in one area like networking. That’s excellent. You could create a goal to contact one colleague per month for a Zoom lunch or in person coffee/tea. Make sure your goals are incremental, small and achievable. Remember physical fitness doesn’t happen overnight and neither does relational fitness whether the relationship is with you or others. The primary goal is awareness and consistent steps to get to where you ultimately see yourself. Give yourself grace to get there. ■ Make a statement. Your brand is your calling card. Whenever you deliver projects, attend events or lead teams, those who have interacted with you should immediately know this was your project. Now that you’ve reflected on your values, your projects, and your goals ask yourself: What does that mean? If I had to introduce myself quickly what would I want people to know? It might sound something like, “I lead with positivity to cultivate curious, inclusive and connected workplace cultures through continuous learning and development programming.” ■ Build your currency. Relationship currency is critical. As Carla Harris states, “Performance currency alone is not enough for advancement. Relationship currency is key because to date, all pathways for advancement still involve the subjectivity of people.” Take this time of clarity and use it to build relationships. 17

REY AND PIERRE

Reinvigorate dormant relationships. Do you have an old boss? Give her a call! Is there a new team member you haven’t connected with and would like to? Set up a coffee meeting over Zoom or in person. Cultivate relationships from a position of learning. You’re interested in what they do, what they’ve been up to and industry insights. Remind them of who you are and leverage your newfound or revitalized clarity of brand to become smarter in your field of choice.

GENERATIVITY AND RELATIONAL WEALTH: USING STEWARDSHIP TO OPEN THE DOOR TO PROSPERITY

Generativity and Relational Wealth: Using Stewardship to Open the Door to Prosperity by LaTanya White, PhD., MBA Staggering statistics show that white families have 22 and 41 times more wealth than the median Latinx and Black families, respectively. Researchers estimate that for the average Black and Latinx family, it can take up to 242 years to match the average wealth that white American families had in 2016. As American wealth becomes concentrated into fewer and fewer hands, it may seem an obscure thought to consider that Black leaders play a role in shrinking the racial wealth gap through stewardship in the workplace. LATANYA WHITE, PhD., MBA is the founder and principal consultant for Concept Creative Group

AS CONVERSATIONS ABOUT CAREER ADVANCEMENT have evolved from advocating for mentorship to sponsorship, this article aims to further that discussion in the context of Black economic mobility through the lens of stewardship. Stewardship theory ushers in relational wealth — the strength of the relationships within one’s network. Relational wealth is integral for creating access to opportunities across business sectors, lending itself to the cultivation of other forms of economic mobility in the framework for Dynastic Wealth™. Dynastic Wealth™ is a model for wealth-building that encompasses the lived experience and ancestral narrative of Black and African Americans and prompts the cultivation of both quantitative and qualitative forms of wealth. By academic definition, a family reaches dynastic status after the wealth they have created is controlled in the family for three consecutive generations.

WHITE

Background Staggering statistics show that white families have 22 and 41 times more wealth than the median Latinx and Black families, respectively.1 Researchers estimate that for the average Black and Latinx family, it can take up to 242 years to match the average wealth that white American families had in 2016.2 As American wealth becomes concentrated into fewer and fewer hands, it may seem like an obscure thought to consider the role that Black leaders play in shrinking the racial wealth gap through stewardship in the workplace. However, the objective of this writing is to unpack that idea and demonstrate the generative power of Black leaders through stewardship. Stewardship Theory In 1984, Edgar Schein, a notable organizational psychologist offered, “even if we knew an organization well enough to live in it, we would not necessarily know ... how it could be changed if organizational survival were at stake.”3 It would be unfair to those who lived through the Civil Rights Movement, the Jim Crow era, Reconstruction, and especially chattel slavery to use a platitude such as now more than any other time in American history to indicate that the survival of Black culture and Black life is at stake. Just as it has been since 1619, the collective survival of Black people and Black culture - the organization in this case - has been at stake. Set in the academic context of organization theory and business policy, stewardship theory was used to define situations where managers were not motivated by individual goals but were motivated by those that would advance the economic position of the organization. As Black upwardly mobile leaders and professionals, it is no stretch of the imagination to find a correlation between the desire for career advancement and the desire to open the door and create better opportunities for other Black leaders. Especially significant for Black leaders and professionals in today’s racial awakening, the generativity may give way to a core desire to mentor—if not sponsor—rising Black professional in their networks and organizations. Where 20

GENERATIVITY AND RELATIONAL WEALTH: USING STEWARDSHIP TO OPEN THE DOOR TO PROSPERITY

mentorship and sponsorship may get the beneficiary’s name in the room, stewardship opens the door for them to walk in alongside you. Stewardship emboldens them with the type of confidence that only comes from having a sense of psychological safety, a sense of safety that can only be created by the steward. Generativity and Generative Intent: The Internal Narrative of Black Stewards Generativity, the practice of leading, nurturing, promoting, and teaching the next generation,4 underpins stewardship theory. The commitment to improving society as a whole through the next generation is defined as one’s generative intent.5 Black leaders who take up the mantel to serve as stewards may notice their own inner narrative of generative intent. This narrative, called the generative script, is the awareness—either conscious or subconscious— of how his or her legacy and reputation will go into his or her own personal history and into contemporary society.6 This plays a significant part in the life story of Black leaders because it shapes their identity through a sense of purpose and unity.7 Consider this as an underlying cause of the racial wealth gap: The absence of intergenerational wealth transfers of knowledge and access for Black employees and professionals. In doctoral research on first-generation Black wealth creators,8 more than half of the participants identified as first-generation business owners despite having had parents and grandparents who had been in business for themselves. When asked why they identified as first-generation business owners, the respondents shared that they felt they were starting from scratch because they had to learn everything on their own. They did not have anyone to teach them what to do or show them what not to do. Recalling again the statistics describe the chasm between Black and white wealth9 and the 242 years estimated for Black families to match the average wealth that White American families had in 2016,10 one might wonder what these numbers have to do with the role that Black leaders play in their respective organizations. This answer is just about everything. 21

WHITE

In a discussion about problems in public personnel administration, Shakonda Peters, SHRM-CP, a human resources professional based in Florida, is working to establish the theory of “opening the door” by highlighting the progress that was made during the Equal Employment Opportunity (EEO) movement of the 1960s, including the Equal Pay Act of 1963 and the passing of Title VII in 1965. This movement, which was meant to advance the economic status of minorities, was mostly capitalized on by white women as their white male allies were often the hiring managers and decision-makers. A report on the experience of Black professionals in today’s Corporate America finds that Black professionals are more likely to be ambitious in their pursuit of the C-Suite than their white counterparts.11 Many Black professionals have an adage ingrained into their subconscious: You have to work twice as hard to get half as far. However, if we attempt to reframe this adage through an appreciative lens—through a lens of generativity— if we have twice as many stewards contributing to collective advancement efforts, at some point in the near future, might it take half the time for Black professionals to advance? Taking this into consideration, we must accept that an underlying motivator for the stewards is their own idea and narrative about generativity and generative intent. Using Stewardship to Close the Racial Wealth Gap Through Black Dynastic Wealth™ Any anecdotal search for the “generational wealth” reveals a ubiquitous reference to passing down financial resources and items solely of monetary value. Yet, Dynastic Wealth™, an evidence-based framework for wealth transfer12 has three times the potential to close the racial wealth gap for Black families simply because it requires that three consecutive generations be strategically incorporated into both long-term business strategy and day-to-day operational tactics. This long-term planning has significant implications for leadership practice in that stewardship—especially in the workplace—is rarely incorporated into leadership development training. Dynastic 22

GENERATIVITY AND RELATIONAL WEALTH: USING STEWARDSHIP TO OPEN THE DOOR TO PROSPERITY

Wealth™ focuses on cultivating five forms of wealth, including Relational Wealth—the strength of one’s relationships within a network. Figure 1 depicts the Dynastic Wealth™ framework and the embeddedness of the generative script and the construct of Relational Wealth. Figure 1. Dynastic Wealth™ Framework Dynastic TM Wealth

Generative Script

Financial Wealth

Spiritual Wealth

Wealth of Knowledge

Intellectual Wealth

Relational Wealth

Traditional Curriculum

Family Identity & Values

Family History

Vision for Wealth

Social Capital

Vision for Wealth

Passion, Skills & Abilities

Entrepreneurial Exposure

Family Trust

Leadership Development

Service & Philanthropy Note: From Dynastic and generative intent for first-generation Black wealth creators in a modern racial enclave economy. Copyright 2022 by LaTanya White, Ph.D., M.B.A. Used with permission.

WHITE

To be sure, Financial Wealth, the bedrock of Dynastic Wealth™, can be derived from any number of sources, including entrepreneurial endeavors, real estate and stock investments, and certainly from the salaries commensurate with top positions within a company or organization. Spiritual Wealth or spiritual capital13 is not necessarily couched in religion. Instead, it is the idea that the work of Black leaders is for something greater than themselves—the future success of the Black race. This outlook is, in essence, generativity. Recording the Wealth of Knowledge that Black leaders possess will help future beneficiaries and stewardees establish a positive sense of identity. The best route to invest in Intellectual Wealth for the stewardee comes from the insight, Wealth of Knowledge, that the steward possesses. More than how to win friends, influence people, the ropes to skip, or the ropes to know, the steward has a keen sense of who the stewardee needs to know and how to best build an authentic relationship with those decision-makers. This is how we get to Relational Wealth. Derived from the definition of social capital as the assets that are found to be embedded in the relationships with other players and organizations,14 it is imperative that Relational Wealth becomes embedded in Black leadership development programs. In fact, allowing Black employees to nominate or invite another ambitious Black colleague to participate in these training programs alongside them might be a new way to solve an old problem. In this way, the first employee 1) Further develops his or her own generative script; 2) Extends their own Relational Wealth; and 3) Opens the door for someone else. In this way, there are twice as many stewards opening the door to prosperity. Maybe, through intentional and concerted efforts to advance the Black community, we can get there in half the time. The Redistribution of Wealth in America As we solidify what will be written in history books about this era, the redistribution of wealth in America is going to largely depend on the redistribution of power, privilege, and access to information. That information would include the long-standing 24

GENERATIVITY AND RELATIONAL WEALTH: USING STEWARDSHIP TO OPEN THE DOOR TO PROSPERITY

impact of African American business history and management among other constructs.15 America’s enduring legacy of racial trauma and the post-traumatic slave syndrome cannot be understated.16 Along with that, the embeddedness of racism in the United States tax system has a significant impact on wealth creation, wealth transfer, and intergenerational mobility.17 Finally, cultivating the four qualitative forms of capital, pillars of intergenerational wealth transfer, and the strategies of dynastic intent that produce Dynastic Wealth™ for Black leaders and the networks,18 play an integral role in the redistribution of wealth and opening the door to prosperity for Black professionals in America.

WHITE

Notes: 1 – Collins, C., AsanteMuhammed, D., Hoxie, J., & Terry, S. (n.d.). Dreams Deferred. Institute for Policy Studies. Retrieved March 15, 2022, from https://ips-dc.org/wp-content/uploads/2019/01/IPS_RWD-Report_ FINAL-1.15.19.pdf 2 – Nieves, E., & Asante-Muhammad, D. (n.d.-a). Running in Place. Homepage | Prosperity Now. Retrieved March 15, 2022, from https://prosperitynow.org/sites/default/files/resources/Running_in_Place_ FINAL_3.2018.pdf 3 – Schein, E. H. (n.d.). Coming to a new awareness of organizational culture. Sloan Management Review. 25(2). 4 – Erikson, E. H. (1950). Childhood and society. W. W. Norton & Co., Inc.; Kotre, J. (1996). Outliving the self: How we live on in future generations. W. W. Norton & Co.; McAdams, D. P., de St. Aubin, E., & Logan, R. L. (1993). Generativity among young, midlife and older adults. Psychology & Aging, 8(2), 221–230. https://doi. org/10.1037/0882-7974.8.2.221 5 – McAdams, D. P., & de St. Aubin, E. (1992). A theory of generativity and its assessment through self-report, behavioral acts, and narrative themes in autobiography. Journal of Personality and Social Psychology, 6, 1003– 1015. https://doi.org/10.1037/0022-3514.62.6.1003 6 – McAdams, D. P., de St. Aubin, E., & Logan, R. L. (1993). Generativity among young, midlife and older adults. Psychology & Aging, 8(2), 221–230. https://doi.org/10.1037/0882-7974.8.2.221 7 – Ibid 8 – White, L. (2002). Dynastic and generative intent for first-generation Black wealth creators in a modern racial enclave economy. Doctoral Dissertation. Antioch University. https://aura.antioch.edu/etds/758/ 9 – Collins, C., AsanteMuhammed, D., Hoxie, J., & Terry, S. (n.d.). Dreams Deferred. Institute for Policy Studies. Retrieved March 15, 2022, from https://ips-dc.org/wp-content/uploads/2019/01/IPS_RWD-Report_ FINAL-1.15.19.pdf 10 – Nieves, E., & Asante-Muhammad, D. (n.d.-a). Running in Place. Homepage | Prosperity Now. Retrieved March 15, 2022, from https://prosperitynow.org/sites/default/files/resources/Running_in_Place_FINAL_3.2018.pdf 11 – Center for Talent Innovation. (2019). Being Black in Corporate America: An intersectional exploration. https://www.talentinnovation.org/_private/assets/BeingBlack-KeyFindings-CTI.pdf 12 – White, L. (2002). Dynastic and generative intent for first-generation Black wealth creators in a modern racial enclave economy. Doctoral Dissertation. Antioch University. https://aura.antioch.edu/etds/758/ 13 – Alberts, I. (2018). Passing the Torch. John Wiley & Sons..; Hughes, J. E., Massenzio, S. E., & Whitaker, K. (2018). Complete family wealth. John Wiley & Sons, Inc. 14 – Steier, L. (2001). Next-generation entrepreneurs and succession: An exploratory study of modes and means of managing social capital. Family Business Review, 14(3), 259–276. 15 – Walker, J. E. K. (1999). Encyclopedia of African American Business History. Greenwood Press.; Prieto, L. C., & Phipps, S. T. A. (2019). African American Management History (Kindle Edition). Emerald Group Publishing. 16 – DeGruy, J. (2005). Post traumatic slave syndrome: America’s legacy of enduring injury and healing. Uptone Press. 17 – Brown, D. A. (2021). The whiteness of wealth: How the tax system impoverishes Black Americans—and how we can fix it. Crown. 18 – Alberts, I. (2018). Passing the torch: Preserving family wealth beyond the third generation. Wiley.; Hughes, J. E., Massenzio, S. E., & Whitaker, K. (2018). Complete family wealth. John Wiley & Sons, Inc.; White, L. (2002). Dynastic and generative intent for first-generation Black wealth creators in a modern racial enclave economy. Doctoral Dissertation. https://aura.antioch.edu/etds/758/

THE “GREAT RESIGNATION” AND BLACK PROFESSIONALS IN CORPORATE AMERICA

The “Great Resignation” and Black Professionals in Corporate America by Justina Victor 2021 was a record-breaking year for employees’ voluntary separation from their companies. The U.S. Bureau of Labor Statistics report – Job Openings and Labor Turnover Survey (JOLTS),1 December 2021 reported a record 4.3 million workers quit their jobs in December following a record high of 4.5 million in November 2021. That is a lot of employees voluntarily leaving their jobs with or without another job lined up. With these staggering numbers, The Executive Leadership Council’s Institute wondered if Black mid-level professionals in corporate America were a part of “The Great Resignation” of 2021. In this article, data from a survey of Black mid-level professionals in corporate America conducted by The Institute from November 9 to December 2, 2021 is highlighted. JUSTINA VICTOR is a senior research manager at the Executive Leadership Council

SIXTEEN PERCENT OF BLACK PROFESSIONALS in our survey said they quit their jobs in 2021. Black professionals between 40 and 55 years old had the highest resignation at 9%. followed by professionals aged between 25 and 39 years at 5%. Resignations among Black professionals aged 56 and older was 2%. See figure 1. Interestingly, younger employees, those under 25 years stayed in their jobs. By gender, 10% of women and 6% of men left their jobs in 2021.

VICTOR

Figure 1. Black professionals who quit their job in 2021

5% 25-39 years 9% 40-55 years

16%

2% 56 years and older

84%

What is driving the separation? According to Black professionals surveyed, the top reasons for leaving their jobs include career advancement, better compensation, difficult manager/management, and desire for a career change. Are these reasons surprising? Black professionals who may have felt stuck in their companies may see this record labor shortage as a great opportunity to advance their careers by moving to another company. Going to a new employer means new environment, new manager, new team, etc. which present new challenges and help employees develop new skills. Historically, during times of labor shortage, companies cast a wider net, adjust job requirements, and offer more incentives to attract and fill their job vacancies. According to ZipRecruiter,2 “companies are peeling back job requirements and expanding hiring incentives.” Figures 2 and 3 show changes in job requirement and incentives from 2018 to 2021. ZipRecruiter saw job postings with bachelor’s degree requirements go from 14.2 percent in 2018 to 8.3 percent in 2021.

THE “GREAT RESIGNATION” AND BLACK PROFESSIONALS IN CORPORATE AMERICA

Figure 2: Percentage of ZipRecruiter job postings with the following requirements

25% 21.5

20 15

14.2

12.9

14.3 11.4

12.3

8.3

7.5 7.1 6.6 4.4

1.5 1.5 1.5 0.8

Bachelor’s 2018

5 Years of Experience 2020 2021

2019

10 Years of Experience

No Prior Experience

Source: ZipRecruiter, Inc. Internal Data (Jan. 1, 2018 - Dec. 31, 2021)

Figure 3: Percentage of ZipRecruiter job postings with the following incentives Retirement Plan 8.1

8.6

2017

Flexible Schedule

14.2 15.6 11.2 12.7

6.9 5.3 4.6 4.8 2019

Signing Bonus 14

2017

2021

1.7

2019

2021

Remote/WFH 9.7 2.2

2.3

2.7

2017

2.4 2017

2.1

2.3 2019

2.5 2021

Tuition 9.9

8.9

3.1 2019

12.7

8.6

2.5 2021

2.6 2017

2.7 2.4 2019

2.4 2021

Source: ZipRecruiter, Inc. Internal Data (Jan. 1, 2016 - Dec. 31, 2021)

VICTOR

It is widely believed people who switch jobs generally see quicker wage growth than those who stay with their employers. ADP Research Institute® Workforce Vitality Report (WVR)3 reported wage growth for job switchers of 8.0 percent while wage growth for job holders was 5.9 percent in Q4 of 2021. Oftentimes, it is said employees don’t leave companies; they leave managers. One of the top reasons for Black professionals quitting is difficult manager/management. It is possible the resignations we see among business professionals are due to their belief the public social justice statements made by corporations in 2020 led to improved hiring practices and organizational cultures for Black professionals. And they want to take advantage of the opportunities that may avail themselves. Furthermore, the lockdown in 2020 due to the pandemic and the social justice movement caused many people to reflect and Black professionals seem to be no exception. In many cases, their reflection fueled the desire for a career change. Desire for a career change as a reason for leaving was higher on the list for women in our study. Black corporate women may have decided that their current work and company is not favorable to what they want to accomplish with their lives. The reasons at the bottom of the respondents’ list that were the least relevant factors driving professionals from their employers included - burnout, felt “stretched too thin,” work overload and lack of remote work flexibility. Their placement at the bottom of the resondents list for quitting their jobs in 2021 is not surprising. “You have to work twice as hard to get half as far” is a well known adage ingrained in many Black professionals so burnout or feeling stretched too thin will not be top of mind reason for leaving their employer. Being able to work from home may have helped reduce the work-related stress Black professionals feel due to racial trauma experienced in work environments such as microaggressions.

THE “GREAT RESIGNATION” AND BLACK PROFESSIONALS IN CORPORATE AMERICA

Reasons for leaving job in the last 12 months Women

Men

Career advancement

Better compensation

Difficult manager/management

Desire for a career change

Work didn’t provide a sufficient sense of meaning

Better work-life balance

Better benefits

Desire for a career change

Work didn’t provide a sufficient sense of meaning

Better benefits

Burnout

Felt “stretched too thin”

Work overload

Lack of remote work flexibility

Work overload

In our survey, the highest resignations were in the Finance and Financial services, Healthcare & Pharmaceuticals, Telecommunications, Technology and Internet & Electronics. Surprisingly, only 1% of Black mid-manager level professionals whose company’s main business is in Retail & Consumer Durables industry reported leaving their jobs in 2021. Are Black professionals actively looking to quit now? Black professionals surveyed were asked if they were considering leaving their current job. Twenty percent said yes, they were actively looking for new opportunities and 52% said they are not actively looking, but they are open to the possibility of leaving. Nearly a third of Black professionals (28%) surveyed said they are not actively looking and are not open to the possibility of leaving. Who is considering quitting? Black professional women (40%) are looking (actively/passively) for new opportunities. Also looking for new jobs are those aged 25 to 55 years old.

VICTOR

What are the reasons Black professionals are actively looking for new opportunities? Like reasons for leaving their jobs, the top three factors influencing Black professionals to look for new opportunities are career advancement, better compensation, and difficult manager/management. For those not actively looking but open to new opportunities, again, career advancement and better compensation were also at the top with desire for a career change and better work-life balance rounding off their top reasons. Respondents actively looking for new job opportunities are looking because of the following factors

Respondents open to new job opportunities might be persuaded to leave their current jobs because of the following factors

Respondents who are looking to stay at their current company are loyal because of the following factors

Career advancement

Remote work flexibility

Better compensation

Highly engaged

Difficult manager/ management

Desire for a career change

Work provides a sufficient sense of meaning

Burnout

Better work-life balance

Career advancement

Work didn’t provide a sufficient sense of meaning

Better compensation

Desire for a career change

Burnout

Better work-life balance

Work overload

Better benefits

Felt “stretched too thin”

Better benefits

Do not feel “stretched too thin”

Lack of remote work flexibility

Difficult manager/management

No desire for a career change

Better benefits

Felt “stretched too thin”

Helpful manager/management

Work overload

Lack of remote work flexibility

Reasonable work load

THE “GREAT RESIGNATION” AND BLACK PROFESSIONALS IN CORPORATE AMERICA

Reasons Black professionals are staying with their current employer What factors are influencing Black professionals who are not planning to leave their employer to stay? Interestingly, remote work flexibility was the top factor influencing Black professionals to stay at their current workplace. Black professionals want flexibility. Of Black professionals who have been working remotely during the pandemic, 78% want to continue working remotely. The pandemic changed the way we work. Work flexibilities allow employees to work full time and still be able to have a balanced life outside of work. In this survey, 95% of Black professionals said if their companies return to full in-office work, they want flexibility in the amount of time they go into the office. Black professionals (92%) report they are more productive when they have a flexible work schedule; 85% feel more engaged to their work when they work from home. Among the top three factors influencing Black professionals to stay with their current employer are - being highly engaged and doing meaningful work. What can employers do to retain Black Professionals? Disaggregate the Data Employers can start by disaggregating their employee turnover data. This will help employers understand the segment of employees who are truly at risk of leaving. Disaggregating turnover data can save employers effort, money and time. It will also help employers learn reasons impacting specific demographics’ decision to separate from their company. Conduct “Stay Interviews” Sometimes the assumption is that employees that leave their organizations are dissatisfied. In our study, of the employees that are actively looking for new opportunities, 73% said they are satisfied with their job. Employers can get ahead of the mass resignations by conducting “stay interviews” to understand why their employees are choosing to stay. Waiting until employees are out the door to find out why they are leaving is too late.

VICTOR

Offer non-cash Benefits Offering employees more money might help in the short term, but employees are also looking for the ability to work remotely, flexibility in their work schedule, work that is engaging and meaningful work. Some of these non-cash benefits that Black professionals are looking for will help employers attract and build high performing and diverse teams. Recognize Employees Employees who remain to pick up the work left by employees who quit could be going through different emotions – grief, low morale, burnout, anxiety. It is a good time for employers to engage with employees who are making sure the work gets done. Recognize their extra efforts by offering emotional support: it could be as simple as a compassionate phone call. Other ways to recognize employees are – gift cards, bonuses, and maybe a promotion. Remember the employees that did not leave will be the ones to onboard, train and bring new employees up to speed. Train/Develop Managers One of the top reasons Black Professionals cited for leaving their company is difficult manager/management. The manager/ employee relationship is key to retention at any company especially during these uncertain and challenging times. As stewards of their company’s mission, vision and values, managers must be trained and developed to ensure they are addressing the issues that are crucial to employers’ success. Invest in Employee Development With vacancies in companies, why not invest and recruit from within the company? Employers can reskill, upskill, and maybe redeploy employees to fill vacancies. The cost to replace an individual employee is roughly one-half to two times the employee’s annual salary.4

THE “GREAT RESIGNATION” AND BLACK PROFESSIONALS IN CORPORATE AMERICA

Notes: 1 – U.S. Bureau of Labor Statistics. (n.d.). Job Openings and Labor Turnover Summary - 2022 M01 Results. U.S. Bureau of Labor Statistics. Retrieved February 17, 2022, from https://www.bls.gov/news.release/jolts.nr0.htm 2 – ZipRecruiter. (2022, January 4). The Big Quit and the Tightest Labor Market Ever - ZipRecruiter. ZipRecruiter; https://www.facebook.com/ZipRecruiter. https://www.ziprecruiter.com/blog/the-big-quit-and-the-tightestlabor-market-ever/ 3 – ADP. (2022, January 31). ADP Workforce Vitality Report. ADP Workforce Vitality Report. https://workforcereport.adp.com/ 4 – McFeely, S., & Wigert, B. (2019, March 13). This Fixable Problem Costs U.S. Businesses $1 Trillion. Gallup. Com; Gallup. https://www.gallup.com/workplace/247391/fixable-problem-costs-businesses-trillion.aspx

BARTHWELL

OVERSEEING EFFECTIVE CORPORATE STRATEGY IMPLEMENTATION: A DIVERSITY, EQUITY AND INCLUSION (DEI) CASE STUDY

Overseeing Effective Corporate Strategy Implementation: A Diversity, Equity and Inclusion (DEI) Case Study by Dr. Akosua Barthwell A challenge often faced by corporate boards is ensuring that their organizations effectively implement their strategic priorities. Recently, many corporations have articulated diversity, equity, and inclusion as a strategic priority. This article provides insights to assist corporate boards in enhancing strategy implementation, using DEI as an example.

DR. AKOSUA BARTHWELL is CEO, The Barthwell Group1

EFFECTIVE STRATEGY IMPLEMENTATION often challenges many corporations due to multiple factors. Often strategic goals are large, complex and require resources and input from multiple departments throughout an organization.2 Organizational teams responsible for implementation may have conflicting priorities;3 be accustomed to focusing on routine, nonstrategic work;4 and/or the corporation may not employ effective implementation methodologies. For example, organizations may rely on spreadsheets to track implementation, which do not optimize transparency or real-time strategic goal attainment.5 Employees often prefer to focus their efforts on tactics, which achieve immediate results6 as opposed to strategies, which may yield long-term benefits.7 In addition, employees asked to implement strategic goals, may fail to understand their importance to the corporation or to their personal careers.8

BARTHWELL

While the challenges presented above apply to any strategy, the implementation of a DEI strategy presents additional issues. Implementing a DEI strategy can be particularly challenging due to the lack of diversity among the organization’s decision makers (such as the board). In 2020, 82.5% of board members for Fortune 500 companies were white, and only 5.6% of board members were African-American men and 3.1% were AfricanAmerican women.9 Even more concerning is the slow growth that diverse representation in the boardroom has experienced over the years. Since 2010, both underrepresented men and minority women have experienced less than a 1% annual increase in board representation.10 Finally, it is important to note that the little progress that is being made by underrepresented in the boardroom might be over accounted for. In 2020, more than one third (36%) of diverse seats in Fortune 500 boards were occupied by persons on multiple boards.11 This concentration was most acute for African-Americans, where two out of every five seats were occupied by African-American members serving on multiple Fortune 500 boards.12 The lack of diversity among board members and decision makers may impede the organization from viewing DEI as an organizational priority. The reluctance to speak about race or gender in the workforce may hinder successful implementation of DEI strategic plans and initiatives. Recently, two out of three surveyed employees reported being uncomfortable discussing issues related to race, and four out of ten African-American employees mentioned it is never acceptable to speak about racial bias in their workplace.13 Fear of saying the wrong thing often prevents people from engaging in discussions about inequality. To many, the risk of having these conversations is greater than any perceived benefits.14 However, not having conversations about inequality in the workplace can lead to the creation and implementation of strategic plans that ignore racial inequities. In addition, it can prevent employees from understanding the importance of implementing DEI action plans.

OVERSEEING EFFECTIVE CORPORATE STRATEGY IMPLEMENTATION: A DIVERSITY, EQUITY AND INCLUSION (DEI) CASE STUDY

The murder of George Floyd in May 2020 led to global outrage. In the week following George Floyd’s murder, there were at least 8,700 demonstrations reported across 74 countries, including the U.S.15 In addition, between May and August of 2020, there were more than 10,600 demonstration events across the United States.16 For many corporate leaders these events marked a clarifying catalyst that increased awareness of enormous inequities which have long existed.17 Numerous corporations articulated statements denouncing the murder and societal inequities, and promising greater awareness and commitment to DEI. During this time, companies in the U.S. pledged more than $50 billion towards racial equality.18 However, these statements have not been sufficient. Increasingly, the public is demanding that boards and corporate leaders deliver on their DEI promises.19 For example, several asset managers, including the New York City Employees’ Retirement System and Black Rock, have asked corporations to release their workforce gender, racial, and ethnic composition data as a way to incentivize change.20 Ensuring DEI strategic plans are successfully implemented is more important now than ever. Many consulting firms have developed tools and approaches that ensure that the strategies they help their clients develop are properly executed and lead to long-term change. For example, The Barthwell Group has developed its proprietary strategy implementation methodology titled Tactical Action Planning (TAP)*, which has been used to help numerous corporations execute strategies. TAP provides a clear and pragmatic roadmap for strategy implementation focused around five steps: 1.

Identification of a clear strategic goal

Articulation of metrics, which clarify goal completion

Designation of a single accountable implementer

Statement of a specific timeline

Description of all required implementation resources (i.e., personnel, infrastructure, technology, and funding)

*(Patent Pending)

BARTHWELL

We have applied TAP successfully to assist corporations in answering the question: How can we successfully implement DEI by using our convenient TAP template with appropriate training? DEI TAP implementation often results in assessing whether designated DEI staff, infrastructure, and funding are appropriate which, in turn, results in impactful DEI improvements. For example, a large healthcare corporation determined that staff meeting times scheduled between 9-5 were unconsciously disadvantaging employees holding lower-level positions (typically underrepresented groups) who worked late night shifts. We discovered at an Ivy League medical school that underrepresented administrators were subjected to a “Minority Tax” (i.e., expected to assume unpaid responsibilities to ensure the successful integration of underrepresented employees). Other best practices among our DEI clients using TAP include making workforce diversity data public, establishing realistic and measurable goals, ensuring diversity can be found at all levels of the organization (including the executive level), prioritizing strategies to recruit, retain and promote diverse employees (such as people of color and women), evaluating how existing policies might disproportionately affect diverse groups, and providing safe spaces where employees feel supported. TAP has been successful in assisting numerous clients implement corporate strategies efficiently, including those seeking enhanced DEI. It enables clear guidelines, easy to follow progress steps, and the measurable results so important to implementing corporate strategies, including DEI. Another example of a strategy implementation methodology is McKinsey’s team of implementation experts dedicated to helping their clients accelerate strategy execution.21 These experts start by utilizing McKinsey’s proprietary benchmarking tool to assess the organization’s current state and evaluate their readiness to execute a strategy. Next, the team of experts work to design a transformation or initiative portfolio and implementation plan. The implementation experts also assist clients by conducting

OVERSEEING EFFECTIVE CORPORATE STRATEGY IMPLEMENTATION: A DIVERSITY, EQUITY AND INCLUSION (DEI) CASE STUDY

virtual and on-site observations, utilizing performance management tools and strengthening capabilities that enable change. Finally, the experts collaborate with the client to ensure the sustainability of the execution.22

BARTHWELL

Notes: 1 – The Barthwell Group, is a certified MBE which has assisted Fortune 500 clients with strategy implementation, particularly focused on DEI for more than 16 years. 2 – The 5 Most Common Strategy Execution Challenges | CU Management. (2019, April 12). CU Management. http://cumanagement.com/articles/2019/04/5-most-common-strategy-execution-challenges 3 – Ibid. 4 – Ibid. 5 – Ibid. 6 – Ibid. 7 – Ibid. 8 – Hrebiniak, L. (2008a, March). Making strategy work: Overcoming the obstacles to effective execution - Ivey Business Journal. Ivey Business Journal. https://iveybusinessjournal.com/publication/making-strategy-workovercoming-the-obstacles-to-effective-execution/ 9 – Deloitte & Alliance for Board Diversity. (2020). Missing pieces report: The Board Diversity Census. Deloitte. www2.deloitte.com/us/en/pages/center-for-board-effectiveness/articles/missing-pieces-board-diversitycensus-fortune-500- sixth-edition.html 10 – Deloitte & Alliance for Board Diversity op. cit., p. 6. 11 – Ibid. 12 – Deloitte & Alliance for Board Diversity op. cit., p. 8. 13 – Meinert, D. (2017, November). Is It Time to Talk About Race and Religion at Work? SHRM; SHRM. http:// www.shrm.org/hr-today/news/hr-magazine/1217/pages/is-it-time-to-talk-about-race-and-religion-at-work.aspx 14 – Liu, J. (2020, June 5). Talking about racial inequality at work is difficult-here are tips to do it thoughtfully. CNBC. https://www.cnbc.com/2020/06/05/how-to-thoughtfully-talk-about-racial-inequality-with-your-coworkers.html 15 – Kishi, R., & Jones, S. (2020, September 3). Demonstrations & Political Violence in America: New Data for Summer 2020. ACLED. https://acleddata.com/2020/09/03/demonstrations-political-violence-in-america-newdata-for-summer-2020/ 16 – Ibid. 17 – Cox, G., & Lancefield, D. (2021, May 19). 5 Strategies to Infuse D&I into Your Organization. Harvard Business Review; https://www.facebook.com/HBR. https://hbr.org/2021/05/5-strategies-to-infuse-di-intoyour-organization 18 – Nguyen, J. (2021, May 24). A year later, how are corporations doing on promises they made to fight for racial justice? - Marketplace. Marketplace; https://www.facebook.com/marketplaceapm/. https://www.marketplace. org/2021/05/24/a-year-later-how-are-corporations-doing-on-promises-they-made-to-fight-for-racial-justice/ 19 – Cox & Lancefield op. cit. 20 – Ibid. 21 – McKinsey & Company. (n.d.). Implementation | Implementation | McKinsey & Company. McKinsey & Company. Retrieved March 16, 2022, from https://www.mckinsey.com/business-functions/implementation/ how-we-help-clients 22 – Ibid.

DEVELOPING 21ST CENTURY LEADERSHIP SKILLS

Developing 21st Century Leadership Skills by Peter A. James, PhD, MBA, PCC Leadership Matters More Than Ever As this article is being written in 2022, the world is in a state of flux. Pandemics, social unrest, geopolitical tension, wars, economic uncertainty, and an overall uneasiness have resulted in the need for positive, strong and impactful leadership at all levels of society. Not just in government or business, healthy leadership is desired in all facets of life. Think about it - we all desire individuals who are not afraid to make courageous decisions when needed. However, examples of toxic leadership are those that continue to rise to the surface due to our obsession with negativity via our various media channels. PETER A. JAMES, PhD, MBA, PCC is President and CEO of HCG Consulting Solutions

HERE, I ATTEMPT NOT TO DEFINE LEADERSHIP or give it an identity that will lock us into one path. The truth is that there is no one-size-fits-all type of leadership. Instead, perhaps leadership should be defined, viewed solely on the outcomes that it provides to its followers. It is important, however, to stress and understand that these outcomes are not always positive. So, if I am a new leader or even a more established leader, what are some things that I can take away from this article that will benefit my journey? How can I learn what is needed moving forward into the 21st century? In this article, we will identify some key points that we can all utilize in order to apply sooner rather than later. I have to warn you, however. After you become aware of these points, they will not be beneficial to you or your sphere of influence unless applied via actions or behaviors. In other words, your reading will be in vain unless you apply the points in a positive form or fashion. The question is . . . are you ready to commit? Are you up for this leadership challenge? 43

JAMES

Twentieth Century Leadership Many of us grew up learning this type of leadership. It was the type of leadership modeled for us and it worked for situations in that time period. You know, “Just do as you are told and don’t ask any questions” or “Do as I say, not as I do.” The focus was on managerial practices and command and control. It also included the raising of voices and discipline as needed, often leading to follower distrust, team isolation, and employee disengagement.1 And those of us who have witnessed anything close to this in the recent past know that it leads to resignations, retiring, transferring, or some other form of exit. As a young military officer, I understood the need for disciplined leadership as life and death situations may have warranted it in that setting. But most settings in society do not warrant that kind of leadership. Even the military leadership style has shifted to accommodate today’s soldier, sailor or airmen. In college, it was the business leadership lessons of Henry Ford, Jack Welch, and Steve Jobs that were explained to us feverishly. Or the servitude leadership of Martin Luther King, Jr., Nelson Mandela, and Gandhi. And even the toxic, yet charismatic style of Jim Jones, Jeff Skilling and Adolf Hitler were analyzed regularly.2 And without going into too much analysis, here are some theories that may also jog your educational memory or if you’re like me, give you a minute to pause: Trait Leadership, Behavior Leadership, Transactional Leadership, Transformational Leadership, Servant Leadership, Contingency Leadership, Implicit Leadership, Theory X & Theory Y, Path Goal Leadership, Leader-Member Exchange. Twenty-First Century Leadership But we are now well into the 21st Century and have surpassed enough time within it to be able to reflect and compare what has transpired historically and what is needed presently. As we are all leaders in some aspect of our lives, we are at the crossroads in order to apply what is required for every situation of our lives.

DEVELOPING 21ST CENTURY LEADERSHIP SKILLS

Allow me to identify how today’s corporate culture can learn and apply what is needed for the future. And perhaps, it will permeate through the walls of society. VUCA Environment Many of you have seen this acronym previously. It is used to designate the Volatilility, Uncertainty, Complexity, and Ambiguity of today’s business environment. According to Johansen,3 it describes the situation of constant, unpredictable change that is now the norm in all industries and business worlds. VUCA demands that you avoid traditional, outdated approaches to management and leadership and day-to-day working. Ironically, researchers in the 20th century, as far back as 1985, anticipated that our world would resemble what it is now in the 21st century. And they even mentioned that it would require us to react quickly and take action in an uncertain and unfamiliar environment.4 And in light of what we are experiencing within our corporate environments, the question must be asked: As leaders, do we have the resilience, capability and support of the organization to utilize resources to continually adapt and flourish at work, even when confronted with challenging circumstances?5 And some of these challenging circumstances include: ■ An increasingly globalized economy. ■ Multiple generations in the workplace. ■ More diverse workforces. ■ Regular technological advances and changes. ■ Sustainable and socially responsible agendas.6 What Is Needed This VUCA environment does a solid job of identifying how the first quarter of the 21st century has evolved. It also demonstrates a little of what will be required from its leaders. But that is just the beginning. In this section, we identify five developmental areas required for both new and veteran leaders.

JAMES

1. Mindset. In her groundbreaking book, Mindset: The New Psychology of Success, Carol Dweck allows us to see what we, as leaders, need to evolve in order to strengthen our capabilities. Dweck identifies two types of individuals in society -- the individual with a fixed mindset and one with a growth mindset. Individuals with a fixed mindset are somewhat stuck in their ways. They believe that they are either good at something or not. People with a fixed mindset think intelligence is static. They are discouraged from confronting challenges and overcoming obstacles. As leaders, they play it safe in order to not make waves throughout the organization or with their bosses. They are somewhat risk averse. Individuals with a growth mindset realize that in order to “grow”, things may get uncomfortable. They believe that their intelligence can always be developed more. Setbacks only have them try harder and they embrace criticism from others because it is an opportunity to learn. And they are just as excited and inspired for the success of others as they are for themselves. The great thing about this is it can be developed for the 21st Century leader.7 2. Emotional Intelligence (EI). The emotionally intelligent leader realizes that developing self-awareness, self-management, social awareness, and relationship management are more important than one’s intelligence, which was “criteria” for much of our existence in the 20 th Century. Now more than ever, EI is more revered and influential than the intelligence quotient (IQ). Daniel Goleman describes how the importance of EQ directly affects how leaders perceive, use, understand and manage their own emotions and the emotions of others. And research indicates that emotional intelligence is a critical leadership skill that also yields significant bottom-line results when applied within an organization’s culture.8

DEVELOPING 21ST CENTURY LEADERSHIP SKILLS

3. Developing Other Leaders. Most leaders do not recognize that one’s legacy is cemented more by those who come up under one’s tutelage than any other factor. One’s activities will be soon forgotten, but how one has been able to grow other leaders will last forever. Therefore, the ability to train, develop and coach emerging leaders also helps to strengthen one’s department, division and ultimately, organizational outcomes. This confidence also precludes leaders from feeling as if their positions are in jeopardy from the up-andcoming leaders. 4. Industry Savvy. As our business markets continue to evolve, so must the expertise and knowledge of the leader. Knowledge can come from a variety of sources and not just from traditional sources. Improving one’s industry and market knowledge also reflects well upon the organization as much as it does for the leader. This is not in order to insert themselves into their direct reports work. Instead, it is to remain relevant and aware in order to lead and be recognized as a subject matter expert. 5. Belief. This relates to the belief, will, desire and activity which demonstrates that you will be a success. It is the realization that one’s success is not limited to the boundaries of the corporate walls. As mentioned earlier, it is the ability to train and coach those who report to you -- the empowered thinking that allows one to remain calm in stressful or strenuous situations. This belief or confidence also helps the leader strive for and obtain positions of greater responsibility. And it does not limit the leader’s vision, either. Lastly, in order to cement this belief, leaders need a tribe. Leadership is already lonely. It is therefore important for leaders to be told when they may be off base. There are enough “yespersons” in a leader’s life. Who is willing to give you the hard truth? And are you willing to listen?

JAMES

The Leader as Coach. This brings us to the last emphasis that is needed more than ever from leaders. It is the coaching skillset. The International Coaching Federation defines coaching as the partnering with clients in a thought-provoking and creative process that inspires them to maximize their personal and professional potential.9 Whenever I explain coaching to leaders or those who desire to understand, I describe this partnership with direct reports that help to strengthen the department, division and organization. Many of the Fortune 500 embrace a coaching culture because of the outcomes that it produces. This skillset revolves around providing the following concepts to your followers. ■ Active Listening - focusing completely on what is being said and what is not being said. ■ Powerful Questioning - asking the right questions that reveal insight for maximum benefit and outcomes. ■ Creating a safe environment - creating a safe and supportive environment that produces ongoing mutual respect and trust. ■ Providing answers (only when needed) - Empowering our direct reports takes shape when they can discover the answers on their own (as time permits).10

DEVELOPING 21ST CENTURY LEADERSHIP SKILLS

Conclusion Today’s staff and employees desire to be a part of an organization that has a mission, vision and purpose that lines up with their own values. They desire to be empowered, to be motivated, and to be included. They also desire to work for leaders who can demonstrate leadership that is transformational. Yes, much more is required of leaders in the 21st Century than ever before. But leaders should not be intimidated by this. Instead, they should ask “how can I be supported on this journey?” As mentioned earlier, leadership can be extremely lonely, especially with the demands placed on leaders today. As a leader, you should seek to never do it alone. As a leader, you never have to do it alone. Mentors, sponsors, and leadership coaches abound in order to partner with leaders at all levels. The question is - will you take advantage of the support, guidance and development? Or will you let the solitude and hard work of 21st Century leadership get the best of you? Either way, are you up for the challenge?

JAMES

Notes: 1 – DePaul, G. A. (2015). Nine Practices of 21st Century Leadership. CRC Press. 2 – Lipman-Blumen, J. (2006). The Allure of Toxic Leaders. Oxford University Press, USA. 3 – Johansen, B. (2011). Leaders Make the Future. Berrett-Koehler Publishers. 4 – Bennis, W. G., & Nanus, B. (1985). Leaders. New York : Harper & Row. 5 – Seville, E. (2018). Building resilience: how to have a positive impact at the organizational and individual employee level. Development and Learning in Organizations: An International Journal, 3, 15–18. https://doi. org/10.1108/dlo-09-2017-0076 6 – Johansen, B. (2011). Leaders Make the Future. Berrett-Koehler Publishers. 7 – Dweck, C. S. (2006). Mindset. Random House. 8 – Goleman, D. (2009). Emotional Intelligence. A&C Black. 9 – Home - International Coaching Federation. (n.d.). International Coaching Federation. Retrieved March 14, 2022, from http://coachingfederation.org/ 10 – Ibid.

About the Contributors Dr. Akosua Barthwell Evans is the Founder and Chief Executive Officer of The Barthwell Group. Prior to launching The Barthwell Group, Dr. Evans was an accomplished banker, lawyer, and management consultant. In addition, throughout her career, Dr. Evans has provided leadership to a variety of not-for-profit organizations throughout the United States through her board service. Peter A. James, PhD, MBA, PCC is the President and CEO of HCG Consulting Solutions - a firm which helps to strengthen organizational cultures via leadership development, diversity, equity and inclusion initiatives and executive & leadership coaching. Dr. James’ career has taken him from an officer in the U.S. Army to Marketing in a major pharmaceutical firm, a professorship in Business and Entrepreneurship, to various entrepreneurship ventures and of course, executive and leadership coaching. Dr. James possesses a PhD in Organizational & Management. Ramien R. Pierre, Ed.D. is the Director of The Executive Leadership Council’s Institute for Leadership Development and Research. He is also an adjunct faculty member of the Organizational Leadership Program at The George Washington University’s Graduate School of Education and Human Development. He has more than 30 years of experience as an educator—more than half of which he spent designing and administering professional development programs for leaders in the aerospace and not-for-profit sectors. Amanda Rey, MA is the Senior Manager for Custom Client Learning Solutions at The Executive Leadership Council and Adjunct Faculty at The George Washington University. Her portfolio features Global 1000 companies focused on the empowerment, development and promotion of Black professionals including Merck, Capital One, Salesforce and more. Shelley Stewart, Jr. is the Managing Partner/Founder of Bottom Line Advisory, LLC. Retired Former Vice President and Chief Procurement Officer, DuPont USA. Experienced Chief Procurement Officer and Supply Chain professional with a demonstrated

history of working in multiple industries. Skilled in Negotiations, Operations Management, Pricing Strategy, Strategic Sourcing and a track record of building global teams. He serves on boards of Otis Elevator Co and Kontoor Brands Inc. Justina Victor is a senior research manager at The Executive Leadership Council. She is responsible for facilitating the production of quantitative and qualitative research that positions the ELC as a thought leader and go to source on a variety of areas such as global Black executives, diversity among corporate boards. LaTanya White, PhD, MBA is an inclusive scholar-practitioner working at the intersection of racial equity and leadership development. Over the course of her professional career, she has coached and consulted more than 600 Black urban entrepreneurial leaders. A 2x author, TEDx Speaker, leader and strategist, Dr. White is the founder and principal consultant for Concept Creative Group, a technical assistance firm focused on business development, capacity building, and Dynastic Wealth™ transfer for Black entrepreneurs, leaders, and professionals.

A Research Journal for Black Professionals The Executive Leadership Council The Executive Leadership Council (ELC) is the preeminent membership organization committed to increasing the number of Black executives in C-suites, on corporate boards, and in global enterprises. Its mission is to increase the number of successful Black executives, domestically and internationally, by adding value to their development, leadership, and philanthropic endeavors, thereby strengthening their companies, organizations, and communities across the life cycle of their careers. Its purpose is to open channels of opportunity for the development of Black executives to positively impact business and its communities.

ISBN 978-0-578-39991-1

90000>

9 780578 399911

ELC Institute Journal - Spring 2022

Articles inside

Overseeing Effective Corporate Strategy Implementation: A Diversity, Equity and Inclusion (DEI) Case Study

Your Brand on Purpose

Developing 21st Century Leadership Skills

About the Contributors

Letter from the Editor