Prominent Bank and Pharmaceutical Company Involved in McKinsey Training Excluding White Participants

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According to videos posted online by McKinsey and Company, U.S. Bank and Bayer Pharmaceuticals are among the corporations that took part in ...

Irma Estes

Irma Estes

15 August 2023 12:04 pm

Prominent Bank and Pharmaceutical Company Involved in McKinsey Training Excluding White Participants

Corporations Participate in McKinsey's Employee Leadership Training Programs

According to videos posted online by McKinsey and Company, U.S. Bank and Bayer Pharmaceuticals are among the corporations that took part in employee leadership training programs hosted by the consulting firm. These programs reportedly excluded white employees based on their race.

McKinsey's "Connected Leaders Academy" Promotes Racial Equity

The news article highlights a video featuring high-level minority employees from U.S. Bank and Bayer Pharmaceuticals. The video showcases McKinsey's "Connected Leaders Academy," a career advancement program aimed at promoting racial equity and diversifying talent pipelines. The program specifically excludes white employees from participating. McKinsey, the management consulting firm that previously employed Pete Buttigieg, believes that this approach will accelerate racial equity.

Identity-Based Leadership Programs Promote Diversity and Inclusion

McKinsey, a global consulting firm, has launched identity-based leadership programs called the Black Leadership Academy, Hispanic and Latino Leadership Academy, and Asian Leadership Academy. These programs aim to promote diversity, equity, and inclusion within the company. U.S. Bank's Diversity, Equity, and Inclusion Strategy Manager, Astrid Benedetto, has expressed support for these programs, stating that they help the company manage its talent pipeline in an equitable and fair manner.

Praise for McKinsey's Connected Leaders Academy

The Connected Leaders Academy, a program offered by McKinsey, has received praise from Allison Smith, the talent management lead at Bayer Pharmaceuticals. Smith stated in a video posted on McKinsey's YouTube channel that the program helps develop employees for their next opportunity. Nicolas Bahamon, Bayer's VP of Strategy, also praised the program, saying it helps him understand different approaches to engage with Latin American colleagues. Multiple employees of Bayer have confirmed their participation in the program with the support and sponsorship of the company.

Discriminatory Programs Offered by Companies

Several companies, including U.S. Bank, Bayer, and Best Buy, have been found to have offered discriminatory programs in partnership with consulting firm McKinsey and Company. These programs required employees to identify as specific racial or ethnic groups, such as black, Latino, Hispanic, or Asian Pacific Islander, in order to participate. The revelation came from a report by O'Keefe Media, highlighting the discriminatory practices of these companies.

Boycott Calls Against Best Buy

The provided content is a link to a tweet from O'Keefe Media, which states that a report has led to calls for a boycott against Best Buy. The report apparently highlights Best Buy's disqualification of employees based on their race. America First Legal, a non-profit legal foundation, is urging Best Buy employees who have been affected by this to contact them for potential legal action.

Liberty Mutual Joins McKinsey's Program for Diversity and Inclusion

Liberty Mutual, a major player in the insurance industry, has joined the McKinsey and Company program aimed at diversifying talent pipelines and accelerating careers. The company has specified that the program is only available to employees who identify as Asian, Black, or Hispanic/Latinx. This move reflects Liberty Mutual's commitment to promoting diversity and inclusion within its workforce.

U.S. Bank's Involvement in Affinity-Based Development Programs

U.S. Bank has been highlighted in its 2022 ESG Report for its involvement in affinity-based development programs. The bank specifically mentioned the "McKinsey Black, Hispanic, and Asian Leadership Academies" as part of these programs. These academies are described as management accelerator and executive leadership programs aimed at helping senior executives advance to C-suite roles.

Investment in Black Leaders and Engaging Professionals

U.S. Bank has invested in over 260 Black leaders who completed the McKinsey Black Leadership Academy development training, according to a press release from 2022. This investment is part of the broader Connected Leaders Academy. On the other hand, McKinsey's 2022 ESG Report Executive Summary states that they have engaged more than 67,000 Black, Asian, and Latino professionals in their Connected Leaders Academy. Additionally, over 900 organizations have participated in the program, as mentioned on McKinsey's website.

McKinsey's Connected Leaders Academy Program Offerings

McKinsey has launched a new program called the Connected Leaders Academy, which is divided into three course offerings: Leadership Essentials, Management Accelerator, and Executive Leadership. The program is designed for cohorts of individuals within organizations and is not accessible directly by individuals.

In 2020, McKinsey launched the Black Leadership Academy, followed by the Hispanic and Latino Leadership Academy and the Asian Leadership Academy. However, US Bank, Bayer, and McKinsey did not provide any comments regarding these programs.

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