The Chattanooga Chamber of Commerce is spearheading a CEO Pledge for Racial Equity, a commitment by regional CEOs and managing leaders to enhance efforts to achieve equity of opportunity within organizations and the broader Chattanooga community.
“In Chattanooga, a CEO Pledge for Racial Equity will grow business, drive accountability and increase innovation,” says Lorne Steedley, vice president of diversity and inclusive growth at the Chamber.
“Starting with an organizational assessment, CEOs and managing leaders can take a deeper dive to focus on talent, performance management, leadership development and workforce culture.
“The outcome of these efforts will yield internal and external performance recommendations. These recommendations will promote competitiveness, enhance geographic attractiveness and drive economic growth.”
The WK Kellogg Foundation, Morgan Stanley and Citigroup report that the economic cost of inequity to African Americans is reported to be billions of dollars per year. This directly impacts GDP, employment, lending, education and health.
A more equitable economy makes the business case for the growth and full participation of African Americans and other communities of color in Chattanooga and Hamilton County, Chattanooga Mayor Tim Kelly says.
“In order for Chattanooga to become the best city in the country, we have to build a city that works for all our residents, especially those whose fortunes have been held back by years of systemic racism.
“The persistent gaps in black and white outcomes in Chattanooga are not only unjust, but expensive. This issue is holding us back from economic progress.
“A people deprived of the opportunity to build wealth and advance are not only underachieving in what they can add to our collective wealth and stories of human capital, but we run the risk that they will eventually sink into hopelessness and despair.
“That abandonment of hope tears at the social fabric that binds together our city’s families. We owe it to our neighbors, our businesses and our community to tackle the issue of racial equity because we can accomplish so much more together than we can apart.”
“This Pledge is about Chattanooga as a thriving community and location of opportunity and prosperity for all,” says Valoria Armstrong, Chamber board chair and American Water’s chief inclusion officer.
“It supports talent retention, talent development and talent diversity, which are especially important in an environment that’s highly competitive for talent.
“Many companies, including American Water, are already engaging in inclusion, diversity and equity work in their own ways. Working together intentionally, developing new outreach and equity practices makes sense as we seek to advance the economic prosperity of our community.”
More than 50 local business leaders have signed the pledge so far, reports the Chamber.
Source: Chattanooga Chamber