It's difficult to make meaningful changes without measuring them. It is for this reason that so many companies have introduced key performance indicators, also known as KPIs, to analyze the success of projects, initiatives and employees. Although many companies made renewed commitments to improving racial and ethnic diversity after the murder of George Floyd by a white police officer in May, most companies have failed to say how well they keep those promises.
The journalism industry is a good example. The American Society of News Editors has been conducting an annual diversity census since 1997, but it was recently suspended because researchers reconsidered the approach because insufficient news organizations contributed. As pressure has increased on companies in different industries to diversify, many know that their numbers do not put them in a positive light, and executives are reluctant to participate.
We want to change that. Fortune has teamed up with Refinitiv, one of the world's largest providers of financial market data and intelligence, to launch Measure Up, an initiative that encourages companies to self-report their racial and ethnic diversity data.
This data is used in a number of important ways. After entering the numbers, Measure Up gives executives access to data-driven insights and in-depth conversations about where they are and how they can improve. We'll also add an annual Diversity and Inclusion Filter to our annual Fortune 500 list, and we'll be releasing a new list in 2021: The Most Advanced Racial Inclusion Companies.
The Measure Up program is now live and we encourage companies of all sizes to get involved by entering your details. You can request access through the ESG section of the website and contact ESGContributorTool-OPSTeam@refinitiv.com with any questions.
More Stories that you absolutely have to read from capital::
- Will there ever be another $ 1,200 stimulus check? We know this
- Should you buy the stock after Pfizer leads the vaccine market?
- The backlash against Jones Day, the law firm that supports Trump's election challenge, is starting to escalate
- A six-year-old Chinese electric vehicle startup is now more valuable than GM
- The 100 Fastest Growing Companies of 2020