A group of CEOs representing 37 companies has formed an organization aimed at training, hiring and promoting 1 million Black Americans to jobs over 10 years.
The coalition, called OneTen, features big companies such as Allstate, Bank of America, Comcast, Target and Walmart.
The organization says it will connect employers with talent partners and top nonprofit groups that support the development of diverse talent.
“This is a moment in time for Americans to move past our divisions to come together and reach our full potential as a nation. Our country’s workforce of the future will be an increasingly diverse one,” said Ken Frazier, chairman and CEO of Merck and co-founder of OneTen, in a statement. “Through the creation of one million jobs for Black Americans over the next 10 years, OneTen has the potential to address persistent inter-generational gaps in opportunity and wealth.”
The organization says the goal of OneTen is to reshape the ecosystem for training and hiring to “create a more flexible talent pipeline and practices that will allow employees and employers to thrive by shifting to a skills-first paradigm.”
The death of George Floyd, a Black man who died while under the knee of a white police officer in Minneapolis, prompted many companies to speak out in support of the Black community. Several of those companies also promised to take steps to improve diversity within its workforce.
In September, for example, Target announced it was planning to grow its percentage of Black employees by 20% over the next three years. In October, Starbucks said it would tie executive compensation to the diversity of its workforce. Earlier this month, the Nasdaq stock exchange said it was seeking U.S. permission to require more diversity in the boardrooms of listed companies.
In August, a USA TODAY analysis found that of the 279 top executives listed at the 50 biggest companies on the S&P 500, only five were Black.