As I speak with CEOs every day, so many are truly pained and deeply want racial harmony. In considering the state of diversity today, I thought it would make sense to talk with one leader who has a history of building true movements: Edie Fraser, CEO, Women Business Collaborative. Edie has already built Million Women Mentors (MWM) with 2.5 million commitments.

Robert Reiss: Talk about diversity today.

Edie Fraser: Robert, Diversity is a number one issue for the private sector, right up there with return on investments and CEO Leadership. This moment is singular and provides an opportunity to create sustainable change. The time is NOW! Platitudes are no longer acceptable.Talent is key and so, too, are investments in diverse suppliers and our communities. I was engaged in the civil rights movement early and have spent my career working to accelerate the position of women and minorities in business. It has been nearly only 17 months since we founded Women Business Collaborative (WBC) together as a non-profit, focusing on increasing parity and power and with it 25% advancement of diversity changes in every action initiative taken. The private sectors awareness of the disparities in corporate America have only heightened in 2020. It is business that is showing courage to take action, and the private sector must ACT NOW!

WBC Edie Fraser team

Focus on the importance of Diversity, Equity & Inclusion (DE&I) on our economy and our national wellbeing. COVID-19 and the recession combined with tensions over the continued racism in America have created an unprecedented economic and human crises and highlighted inequities further fueling unrest.In corporate America, our CEOs and Chief Diversity Officers (CDOs) and CHROs are crucial to successfully navigating the current social challenges along with the others in the Executive Suite. Bottom up and top down, all must work together to change what has been the status quo. We want results.

Reiss: You mentioned the singularity of this moment in time. What strikes you as different from preceding periods of political and social unrest?

Fraser: 2020 is different because we are moving beyond statements of support into real actions, investments, and accountability. Platitudes are no longer acceptable. This moment is for change. Consumers and employees are demanding companies look beyond shareholder interests and prioritize people. Financial results will be better because they do. The Pandemic, recession and racism aren't just impacting a small number of people; impacts are widespread and leaders great leaders see that real investments in change are the next essential step.

This summer Blackrock CEO Larry Fink committed to insisting on Board diversity and senior talent and investments; Oprah replaced her likeness on the Cover of Oprah Magazine for the first time.Different examples in different industries with various needs and approaches but all are examples of real actionable leadership that aligns with their brand.

As business leaders, we know that if something is critical to our success, we measure it.DE&I is no different. Consumers have shown they are looking for real action such as more diversified hiring and promotion practices, diversifying suppliers, and insisting on internal reviews of cultures holding back people of color. The companies that prioritize all aspects of diversity will come out ahead. McKinsey & Company's 2019 Diversity Matters: How Inclusion Wins Report found that gender diverse teams are 25 percent more likely to financially outperform their competitors and ethnically diverse teams were 36 percent more likely.

Reiss: What does CEO activism look like?

Fraser:As protests erupted, most CEOs took that time to listen and reflect.The heard about long-term racism.To repeat: it is imperative we move from statements of support and listening to action.CEO activism includes some key tenants to start a clear connection between the statement, the brand, and actions.Activism includes transparency and accountability. CEOs and their teams set bold goals and lead by example.

Reiss: Which CEOs do you see as leaders for DE&I efforts right now?

Fraser:Many are committing action. Satya Nadella at Microsoft continually comes out on top of DE&I rankings. As one of the fastest-growing sectors, technology companies are under pressure to create a more substantial presence of women and people of color. Since 2014, Microsoft is in the 3 percent of Fortune 500 companies to report full workforce demographic data and supplier data. CEOs who are making commitments then hold themselves accountable by reporting the metrics. Robert, WBC with you and Becky Shambaugh, just interviewed Kaiser Permanente CEO Greg Adams and he shared, Diversity is holistic in talent and community, and now Kaiser has made a commitment of $1.7 billion to Black and Hispanic suppliers.

Diversity is a most pressing issue right now. Companies tracking and reportingemployee satisfaction. DiversityInc. released its annual Top 50 Companies for Diversity list in May. At the top was Marriott International and CEO Arne Sorenson, a leader for diversity in the hospitality industry. Eli Lilly and Company was number three on the list with CEO Dave Ricks leading the way for inclusion in healthcare. Mastercard's Ajay Banga made the number six spot leading the financial service industry. (5/8/2020) Goldman Sachs' David Solomon, another leader in the financial service industry, recently released a list of aspirational goals emphasizing women and Black professionals in V.P. roles (8/6/2020).

The latest appointment of Linda Rendle as CEO at Clorox takes the number of women leading Fortune 500 companies to 38 and growing. Yet we lack women of color both at the CEO Level and in boardrooms. The momentum for DE&I across the board makes us focused. CEOs and CDOs need to work together with their teams to keep bring people to the table, move pipeline talent upward and insist that thosewho historically have not had the opportunity to be there get the new seats. Candidates have the skills.

Reiss: You mentioned the growing number of women leading Fortune 500 firms. As you are so dedicated to accelerating the position of women in business how do you believe we continue that progress?

Fraser: We cannot let the conversation off the table. We created WBC because there were manywomen business organizations working in silos. To change the numbers, we needed collaboration. In many instances, organizations were competing. WBC is thrilled to have 41+ women business organizations today aligned to drive change on more women and women of color as CEO, boards and capital firms and more entrepreneurs successful and with capital support.

We are seeing progress, in the past months, more women were appointed to corporate boards, 130 Black women are running for office, we had a record number of women leading Fortune 500 firms, and still there is so much work to be done. The Boardlist recently announced that it is extending its services to men of color.(8/11/20) That type of expansion is so imperative. We must see the progress, celebrate it, and then ask ourselves how we can take what we know works and use it to help more people.

This slow pace of change has been prompted calls to action. The current social unrest in our country calls for proactive, vigilant leadership working toward achieving results. It is THE TIME for accountability and impact. Together we will work tirelessly to inspire companies to share clear results. We must succeed.

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Diversity As A CEO Priority During This Singular Time In Our History - Forbes