Since we posted this statement, we have been taking stock of the actions we have been pursuing in support of racial justice and equity.
As a result, we are committing to doing more to accelerate our existing programs and to add new actions as we expand our efforts to deliver change within our firm and to play our part in combating racism across the world.
Much of what follows is focused on the Black community in the United States, but we know that racism takes many forms and is not confined to any one country or group. That is why this set of actions will go on to anchor global efforts in favor of racial justice and inclusion for all.
Our actions are:
- Double our Black leadership and hiring of Black colleagues in our firm over the next four years.
- Engage our 32,000 colleagues in an anti-racism and inclusion program in addition to our existing training on unconscious bias. We will make these materials available publicly for others to use in their own organizations.
- Create a firmwide day of service dedicated to understanding racial injustice and giving back to our communities. On that day, we will recognize those who exemplify anti-racism and inclusion.
- Bring to bear the best available expertise to help us ensure our processes are free from bias and to support the attraction, development, advancement and retention of Black and diverse colleagues.
- Create a dedicated McKinsey Academy virtual leadership program and make it available at no cost to our clients to support rising Black executives. We will also broaden and expand our student internship programs across our firm to help grow more Black leaders.
- Building upon the McKinsey Global Institute and our related longstanding research on racial inequities, we will found a Black economic institute to translate insights into practical tools to enable our clients to advance Black economic empowerment and racial equity in the U.S. and beyond.
- Double our spending with diverse suppliers within three years.
- Contribute $2 million in cash to Generation to launch new programs in the U.S. to train and place Black learners in small and medium-sized Black-owned businesses. Globally, we will double our support for Generation to train and place 40,000 learners in 14 countries, predominantly from under-represented groups.
- Commit $200 million over the next 10 years in pro bono work globally to advance racial equity and economic empowerment among Black communities.
- Donate a total of $5 million in cash this year to nonprofits working to create educational opportunities and combat racism. The majority of this gift will be directed to organizations to be selected by our McKinsey Black Network colleagues.
As we implement these actions and join our clients and other institutions to realize greater racial justice and equity globally, we will seek opportunities to do better and to do more. With this in mind, we welcome ideas and suggestions to create positive, enduring change within McKinsey and in society at large.