October is Global Diversity Awareness Month. The annual celebration is meant to “pay tribute to the diverse minds and beliefs held by all cultures around the world.” Global Diversity Awareness Month was created after World War II when the Universal Declaration of Human Rights was adopted in 1948 by the United Nations General Assembly (UNGA). Since then, the annual celebration has provided the world an opportunity to embrace the varying cultures that make up human society – celebrating our differences while also recognizing what brings us together.
Over the past few years, diversity, equity and inclusion work has grown across academia and corporate life. Campuses of higher education have in particular established and expanded departments dedicated to fostering principles of diversity, equity and inclusion. For example, the Office of Equity, Diversity, Inclusion & Belonging (EDIB) at Harvard University, has a stated mission to foster “a just Harvard and a just world where all people’s rights and dignity are respected and honored.” The center also aims to create an environment where “no one should be harmed or denied an equal opportunity to thrive because of their race, sex, ethnicity, sexual orientation, gender identity, national origin, disability, or religion.” To that end, Harvard’s EDIB Office works with campus stakeholders as well as external partners to ensure all students, regardless of their varying background and identities, experience acceptance and belonging on campus.
In corporate life, principles of equity, diversity and inclusion have also become central to the success of business in the 21st century. Inequality and discrimination are connected to stress and can result in employees leaving their jobs, according to the American Psychological Association. High rates of turnover can negatively impact business success because failing to retain employees can inhibit cohesion among colleagues, the formation of a healthy office culture and the ability to reach internal goals and metrics. Moreover, growing numbers of studies demonstrate the financial benefit of recruiting and retaining diverse teams. Forbes details that diversity and inclusion are important values for modern companies to hold because a culture of belonging boosts creativity and innovation and increases productivity. According to a McKinsey & Company analysis, it shows companies with greater gender and racial diversity within their executive leadership teams outperform their less-diverse peers financially. The rise of environmental, social and governance (ESG) departments within large corporations also highlights the growing importance of equity in the workplace and consumer preference.
Robert F. Smith’s Dedication to Diversity
Robert F. Smith, Founder, Chairman and CEO of Vista Equity Partners, champions the importance of diversity in a range of sectors. Smith has given back to his alma mater, Cornell University, to establish a range of programs to support underrepresented students in science, technology, engineering and mathematics (STEM). “My goal has always been to lift up and provide opportunity for those who have historically faced barriers to success,” Smith said in 2022. “My hope is that these funds will elevate more students and afford them the opportunity to attend my alma mater and pursue careers in STEM, as well as continue to support the diverse pipeline of extraordinary talent that Cornell produces.”
Smith is the founding director and President of Fund II Foundation, an organization that seeks to “preserve the African American experience, safeguard human rights, provide music education, preserve the environment while promoting the benefits of the outdoors, and sustain critical American values such as entrepreneurship.” Fund II Foundation administers the internXL program, a program that matches college students of color to highly-coveted, paid internships at companies across sectors like STEM, marketing, business and more.
Learn more about Fund II Foundation and their work to increase diversity.
