Goldman Sachs' Megan Hogan on Workplace Diversity

The transcript discusses the global response to George Floyd's death and the subsequent corporate commitments to diversity and inclusion. Megan Hogan from Goldman Sachs highlights the company's ongoing efforts to improve diversity, including partnerships with historically black colleges and creating safe spaces for discussions. The progress in increasing black representation in executive roles is noted, along with the challenges of retention. The importance of embedding diversity in all aspects of the organization is emphasized, and the backlash against such initiatives is addressed by linking diversity to business success.

What was a significant global response to George Floyd's death?

• Global protests and corporate diversity commitments

• Increased police funding

• Reduction in corporate taxes

• Expansion of military forces

What role does Megan Hogan hold at Goldman Sachs?

• Chief Financial Officer

• Chief Diversity Officer and Global Head of Talent

• Chief Marketing Officer

• Chief Executive Officer

What progress did Goldman Sachs report in its executive ranks?

• No change in diversity

• Decrease in Black representation

• Increase in Black representation to 3.7%

• Complete elimination of diversity programs

What is a key focus for Goldman Sachs in terms of talent development?

• Hiring only from Ivy League schools

• Cultivating a diverse talent pipeline from junior ranks

• Eliminating diversity programs

• Focusing solely on external recruitment

What challenge does Goldman Sachs face in retaining diverse talent?

• Excessive focus on diversity

• No challenges reported

• High turnover after initial hiring

• Lack of interest in diversity

How does Megan Hogan view the backlash against diversity initiatives?

• As a reason to stop diversity efforts

• As irrelevant to business success

• As a minor issue

• As a challenge to address while emphasizing diversity as a business imperative

Why is diversity considered a core business imperative at Goldman Sachs?

• It is mandated by law

• It is not considered important

• It is seen as a way to increase innovation and revenue

• It is a temporary trend