Carlyle to Award $2 Million to Staff for Focusing on Diversity
(Bloomberg) -- Carlyle Group Inc. is awarding a total of about $2 million to more than 50 executives and other employees globally who are excelling at goals tied to diversity, equity and inclusion.
The purpose is to “reward a group of employees who have gone above and beyond,” Sandra Horbach, a Carlyle managing director and co-head of U.S. buyout and growth, said in an interview. “It’s not about the dollars here, it’s about the recognition, and celebrating contributions while inspiring others to stand up to take more of a leadership role in driving DE&I.”
The private equity firm on Monday will inform recipients about their awards, which are in addition to the company’s regular bonuses and its existing commitment from earlier this year to tie worker bonuses to diversity goals. Employees nominated almost 200 people, and the firm is considering expanding the amount made available for future years.
One recipient is Jay Sammons, global head of the consumer, media and retail group who founded Carlyle’s employee-resource group dedicated to the LGBTQ community about a decade ago. Sammons has been locking in investment opportunities that include women-owned businesses.
“From day one I have been empowered to bring my authentic self to work -- that earlier in my career I hadn’t known was possible,” Sammons said after the Washington-based firm informed him he was selected for one of the awards. “The obligation we have as diverse leaders is to be very vocal about diversity, not just because it’s the right thing to do, but because it drives better business results.”
More than half of Carlyle’s assets under management are run by women, while Chief Executive Officer Kewsong Lee’s own pay is measured against metrics that include developing an inclusive culture. The company’s target is to have 30% of board seats of its portfolio companies filled by diverse candidates by 2023.
“We need to measure people on this more than we have in the past,” Horbach said. “Our industry still has a long way to go.”
©2021 Bloomberg L.P.