The New York Stock Exchange Really Needs to Move the Women's Restroom
LatestNo doubt that the goals of the Moving the Needle campaign are noble. Their aim is to help diversify US corporations by creating opportunities for a diverse set of candidates to network with established businesses.
As stated on their website, the goal is not to implement quotas to or put women or people of color in token positions, but rather to create value through diversity that will “improve all facets of a board’s and company’s performance and ultimately enhance the shareholders’ investment value.”
After all, in 2010 people of color were 11.9% of Executive/Senior Level Officials and Managers and 20.1% of all First/Mid-Level Officials and Managers. And only 16% of Fortune 500 board members were women.
The New York Stock Exchange is one organization that is embracing the Move the Needle program in order to help it diversify. But women familiar with the NYSE have a problem that is representative of the institutionalized sexism that often undermines efforts like Move the Needle.