Diversity MBA Magazine - Fall 2008 - (Page 10)

ivMBA - BUSINESS BRIEFS - DivMBA nrollment at public Historically Black Colleges and Universities (HBCU) increased in 2005, according to a study recently released by the Thurgood Marshall College Fund (TMCF). Viewed as the leading source for information annually on the public HBCUs, the report is a critical source for grant writing, research and studying trends for new program development. Enrollment rose 1.3% to 235,360 students, with black male enrollment up more than 3% in the past two years. 62% of the 34,619 first-time new freshmen returned to continue their education; thirteen institutions reported retention rates of 70% or better. The study also reveled increasing diversity in the HBCU student body, with 17% of enrollment from non-black students. ccording to a recent survey, nearly two out of five business leaders would leave money on the table to get a coveted job. The IMPACT Hiring Solutions nationwide survey of senior-level executives shows that 38 percent would accept up to an 18 percent pay cut for the “right” position: one where they are learning, benefitting their organization and coworkers, and growing professionally. The survey also revealed that the current economy is indeed having an impact on the job market. 80 percent of the total respondents, including both employed and unemployed executives, indicated they are currently seeking a new position. But 87 percent reported their job search taking up to 12 months and over the last two years, 72 percent said it has taken them longer to find a suitable position. he NAACP reports measured progress towards the goal of addressing economic concerns of the African American consumer, in the 2008 edition of the NAACP Economic Reciprocity Initiative (ERI). In 1996, the NAACP launched the ERI as a sustained consumer movement to measure corporate America’s financial relationship with the African American community. Since then, the ERI has expanded its scope and has continued to annually highlight diversity efforts made in lodging, telecommunications, financial services, general merchandising and automotive industries. The lodging industry received a C for its diversityrelated activity. The industry overall tends to be most responsive in the area of charitable giving; the greatest challenge is in the area of property ownership. This year’s grade for the telecommunications industry is B-. Despite mergers and acquisitions they continued to make strides in their diversity efforts. The financial 10 w w w. d ive r s it y mb a ma g a z in e. c o m E A services industry received a B this year. The industry saw modest gains in the areas of employment, marketing/communications, and supplier diversity. The automotive sector received a C. This industry showed marked improvement in supplier diversity. The nation’s major retailers earned a C overall in this year’s report, making the gains in community reinvestment. After four years of non-participation in the survey, Target has agreed to participate in the 2009 ERI survey. In response to the fifth consecutive year of non-participation in the survey by Dillard’s, the NAACP will launch an online petition to compel Dillard’s to demonstrate their commitment to diversity and appreciation for the African American dollars spent in their stores. omen continue to be less prepared for retirement than men, according to a new study by human resources consulting and outsourcing company Hewitt Associates. It not only found that women need to save more for retirement than men, but it also highlighted that the gap between the amount women need to save and the amount they are actually saving is larger than the gap for men. The study, which examined the projected retirement levels of nearly 2 million employees at 72 large U.S. companies, found that both men and women are on track to replace 85 percent of pay at retirement, assuming average life expectancy. However, women, on average, need to replace nearly 130 percent of their final pay at retirement, ó7 percentage points more than men. When factoring in differences in longevity, that disparity jumps to 10 percentage points. In other words, the average woman will need to save 2 percent of pay more per year than the average man, over 30 years, to achieve the same standard of living. Hewitt's study and other research reveal that multiple factors, both financial and socio-economic, contribute to the gap in retirement income replacement rates between women and men. Those factors include women's likelihood to make less and live longer, invest less assertively, delay retirement saving, and have spotty saving patterns. Women can begin to close the gap by investing earlier and at a more vigorous rate, postponing retirement, taking advantage of financial services counseling, and staying invested in 401(k) plans. W T http://www.diversitymbamagazine.com

Table of Contents Feed for the Digital Edition of Diversity MBA Magazine - Fall 2008

Diversity MBA Magazine - Fall 2008 Contents Letters to the Editor In Your Own Hands Editor's View Business Briefs Off the Shelf Diversity MBA 2008 Awards Gala and Leadership Forum "Diversity Next Practices" Illusion of Inclusion Good Is Not Enough Revisiting Your Personal Brand Discover Your Power Voice Authentic Leadership In An Ever-Changing Marketplace Stopping the Brain Drain: How Companies Can Keep Talented People of Color Corporate Succession Planning - How Do You Fit In? How To Manage Virtual Teams Beyond Demographics Recruit, Recognize, Retain, Reinvest – Winning the Talent Acquisition Game Leave Ego at the Door Modernizing Supplier Diversity Taking the Leadership High Road… When You Can Find It Think Boardroom Bound; It’s Happening Who's Who In Diversity Fail to Succeed 4-Star Start-Up, Chris Ward: Character Above All Get Them at Hello – Tips to Improve Your Marketing Kit Sonny Vu, Entrepreneur A World at Your Fingertips Big Brother Wants Your Bank Account Stepping Off The Corporate Ladder HR Focus with Monica Ross A Unique New England Vacation Bold Caballeros y Noble Bandidas Women of Color and Cancer: The Chicago Phenomenon Being Single Isn't Easy International MBAs Flock To U.S. Schools Smart Strategy Gadgets+Gizmos Advertiser's Index

Diversity MBA Magazine - Fall 2008

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.