We recognized that there was a lack of representation of African Americans at the VP and SVP levels and our annual employee engagement survey results revealed that this group was less engaged than other groups and this could be an indicator of attrition risk.
Partnered with KornFerry on the design and delivery of AB Impact, a multi-month, cross- business unit development program which offers skill and strategy building as well as professional development for African American leaders and their managers. The goal of the program is to equip the participants with the tools necessary to achieve personal growth while strategically contributing to AB. We also wanted participants and managers to be able to explore the challenges that are unique to African Americans and identify strategies to increase their skills in addressing these challenges.
There are 3 main components of the program:
- Participants only workshop designed specifically for the participant to gain the skills and strategies required to accelerate their professional development
- Managers only workshop designed to create actionable strategies to remove or reduce forces that hinder engagement, development and advancement of their employees
- Interactive session between both participant and manager focused on building and sustaining a robust reciprocal relationship
21 % of participants in cohort 1 have gone on to take larger roles. Given the popularity and success of the program, similar programs have been rolled out for Asian American leaders and African American leaders below the VP level.
At AllianceBernstein, we are utterly committed to protecting our values and ensuring diversity and inclusion are part of the fabric of our organization. And as CEO, it starts with me. It is important that I am accountable for the progress we make on these efforts. I encourage everyone at the firm to think creatively - about how we hire, how we do business, how we engage and collaborate with one another. I am proud to be a part of the collective CEO Action and I look forward to leading the advancement of our firm's diversity and inclusion initiatives.