Parity.org, a nonprofit supported by Capri Holdings and Cisco Systems, is back with a new equity model, this time on fashion’s diversity and inclusion efforts.
The nonprofit is behind ParityPledge initiatives, which counts corporations such as Ralph Lauren, PVH Corp., Lacoste, Tiffany & Co. and Movado Group Inc. as partners.
Launched Monday, Parity.org’s latest offering, “ParityModel for People of Color,” is an in-depth perspective aimed at helping organizations achieve racial parity. The proprietary framework is based on three key pillars — “Representation, Equality and Inclusion” — and aims to provide leaders with insights on policies, best practices and approaches that effectively “remove barriers and ensure people of color have equal opportunities to advance and succeed.”
“Creating a business that is equitable from the top to bottom is — or at least, should be — top-of-mind for every business leader,” said Cathrin Stickney, chief executive officer and founder of Parity.org, in a statement. “Yet people of color currently occupy just 17 percent of C-suite positions, despite the fact that they represent 31 percent of the entry-level workforce. Changing this reality won’t happen by accident, and will require intentional actions, which is where the ParityModel comes in.”
The roadmap aims to give companies an evidence-based understanding of what they can do to remove barriers to not only attract but retain top talent.
The model builds upon previous learnings regarding gender equity. Parity.org’s gender equity model launched in October 2020 in an effort to increase women in leadership roles while equalizing pay.
Stickney said Cisco and Capri (which owns Versace, Jimmy Choo and Michael Kors) are “strong advocates” for the advancement of employees of color in their own businesses, having taken a key role in the model’s development.
“What we really admire about the ParityModel is how prescriptive it is,” commented Semoneel Bamboat, global head of diversity and inclusion and talent acquisition at Capri Holdings. “It’s not just suggesting principles that can guide an organization, but sharing specific, actionable tips that every team within an organization can implement. For example, Capri is really focused on investing in students to fuel our talent pipeline for the future — which Parity.org has included steps on how to do. It advances Capri’s goals to ensure the future of fashion is diverse, and this guide helps accomplish that.”
A majority, or 97 percent, of the individuals using the prior model ParityModel for Women agreed that the best practices influenced their organization’s DE&I strategies. Further, some 67 percent said it helped them improve recruitment practices, and 47 percent said it helped their organizations more effectively address and measure pay parity.
The models are designed to be used in tandem and can be found on Parity.org.