Entrepreneurship
Why All of Us Need to Join the Fight for Workplace Diversity
Opinions expressed by Entrepreneur contributors are their own.
The Ernst & Young 2020 Global Private Equity Report found that 74% of private equity firms under $2.5 billion did not have set targets for ethnic diversity and had no plans to set any.
While this might come as a surprise to those with no history working in private equity or hedge funds, this statistic and the recent media attention Soo Kim has received regarding the TEGNA takeover, unfortunately, come as no surprise to me.
As a former employee of Standard General, one of only a handful of Black Americans working in the hedge fund sector and an immigrant founder, I’m appalled at the lack of diversity in this space. However, I can firmly say that it would be a lot worse without Soo Kim’s contribution — but we need more than just him to join the cause.
Related: 18 Business Leaders on Creating an Inclusive and Equitable Society
What’s happening with Soo Kim’s TEGNA takeover?
In February 2022, Soo Kim’s Standard General, with funding from Apollo Global Management announced a deal to acquire TV station owner TEGNA for roughly $8.6 billion. TEGNA is the second-largest local TV broadcaster by revenue, operating 64 TV stations and two radio stations across various markets in the U.S. Contrary to large TV consolidation mergers, this particular deal has drawn a number of vocal objectors.
Ostensibly, the critique has come from a union — The NewsGuild — that purports to be concerned about jobs, despite the public commitments that Standard General made to preserve local station employment. While concerns about jobs are admirable, the publicly filed comments from these groups include statements that, in so many words, say that Soo Kim’s ownership of this station group would do nothing to advance diversity as understood by the civil rights community and public interest.
Is there a “wrong” type of minority?
These commenters continue to say that Soo Kim was not barred by his race from becoming a successful entrepreneur.
As a fellow New Yorker and both graduates of Stuyvesant High School, I can speak to our experiences. Using his Asian ancestry against him is exactly the kind of short-sighted hateful rhetoric causing so many issues for Asian communities across America. I have seen this in all aspects of American life, from Wall Street firms to my days at West Point and in Baghdad.
When there’s a flag draped over your coffin, there is no “wrong type of minority.” Yet we seem to treat immigrant founders and founders of color like there is such a thing as a “wrong” type of minority.
The indivisible nature of the United States is our greatest strength, but that strength is weakened by the belief that Soo Kim being Asian makes him unqualified to pursue the commercial principles that our country was founded on.
However, what worries me more than anything is that Kim hasn’t been treated fairly by anyone throughout this deal. Are these political letters and criticism influencing the regulators whose judgment the closing of this deal depends on? I know firsthand how hard it is for founders of color to access the capital to pull off deals of this magnitude. An adverse outcome here would have a chilling impact on minority ownership of broadcasting assets at the very least. Perhaps this is what the objectors want.
While the thought of that is troubling at the very least, I believe what’s been so impactful and appalling to me throughout this entire debacle has been the fact that I know Soo Kim. I’ve worked with him, I have represented him on public company boards and I’ve seen what he stands for. It’s unimaginable to me that he could be on the receiving end of such racism when he so clearly stands for justice and equality.
Related: 6 Ways to Offer Allyship to Black Entrepreneurs
Commitment to diversity
As the founder of Standard General, Kim has been tireless in his commitment to diversity: from hiring to using his power to change companies to better reflect what America really looks like. More importantly, he didn’t limit his search to just Asian professionals. Black, Asian, Jewish and white employees all were represented in the 12-person team at Standard General while I was there. He has also consistently appointed women and people of color to the boards of his companies throughout the years.
I have seen the good he does in his companies and how hard he works to provide equal access to opportunities regardless of race or gender.
And, because I am the diversity and inclusion officer for the MediaCo board of directors, which owns the radio stations Hot 97 and WBLS (which has a management team that is over 50% diverse and a staff that is over 70% diverse overall), I would say that it is precisely Kim’s unique background that could help improve TEGNA own documented diversity issues.
If other leaders follow Kim’s lead, we can slowly but surely change the diversity problem. But we all have to actually commit.
How the TEGNA deal compares to other acquisitions
Just to drive my point home, I believe it’s important to take a look at how this TEGNA deal compares to other similar acquisitions.
Recently, the TV industry has seen a surge in big deals. For example, Gray Television acquired Meredith’s and Quincy’s local stations with virtually no opposition from across the aisle. Scripps bought ION Media Group and Nexstar Media Group also added to its empire by snatching up Tribune Broadcasting — moves that heavily concentrated power in this industry space.
All of those prior deals did not face any of the scrutiny and criticism from this deal, which is curious because the TEGNA deal shrinks the company with the concurrent sale of a number of stations to Cox Media Group, and does not require any statutory divestitures or regulatory rule waivers as each of the above did. And yet, with Standard General’s deal, the informal 180-day “shot clock” for a regulatory decision has long passed.
The point? The lack of opposition to other similar deals shows young entrepreneurs and immigrant founders that even when you try to play fair as a person of color in this industry, you just can’t seem to win.
Related: 5 Ways Entrepreneurs of Color Can Determine an Ally’s Authenticity
The system has to change
In one interview, Kim said that after the takeover, TEGNA would get a “company with a minority owner, run by a woman, that’s committed to serving diverse communities. We think that’s good business.”
It is good business, and I am delighted to see that Kim and Standard Media CEO Deb McDermott have received letters of support from legislators, civil rights groups and minority media groups. I applaud these groups for speaking up in defense of Soo Kim and other minorities in this space. I, too, am doing my part to speak up against these racist attacks. However, that isn’t enough anymore.
The system has to change — and it changes by not allowing these types of attacks, comments and ideals to persist in any way, shape or form. We must stop entertaining the idea that these types of comments are valid or even acceptable. We have as a nation all experienced the heartache of watching videos of racially motivated violence against people of color from all walks of life. Racial oppression takes place in the business world just as it does in the streets, just without the same visible evidence but the same indelible impact on those persons of color involved.
As a business leader, here’s how you can enact systemic change:
- When making hiring decisions, stop going with your gut. Newsflash, your gut always leads you to the most comfortable choice. Instead, create a list of metrics you will hire for and focus on hiring someone that meets those metrics. Blind auditions eliminated discrimination in the world’s greatest orchestras. Imagine what it could do for your business.
- Be aware that there are challenges diverse individuals face in business that you don’t see or experience. Do your best to factor those in when evaluating candidates. They may not have Goldman Sachs on their resume, but can you see evidence of ability in past academic performance or in other areas like military or community service?
As the great Martin Luther King Jr. said, “An injustice anywhere is a threat to justice everywhere.”
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Starting a new business or growing an existing one can be expensive. There are bills and salaries to pay, equipment to fix and buy, and cashflow to manage. A gold loan can be a great way for small businesses to manage their expenses.
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Disclaimer: This article is a paid publication and does not have journalistic/editorial involvement of Hindustan Times. Hindustan Times does not endorse/subscribe to the content(s) of the article/advertisement and/or view(s) expressed herein. Hindustan Times shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the view(s), opinion(s), announcement(s), declaration(s), affirmation(s) etc., stated/featured in the same. This information does not constitute a financial advice.
Confidence is an often misunderstood trait. Loud, showy and extroverted behaviour can look like self-assurance, but that’s not always reality. Sometimes quiet can be confidence, as can humility and unpretentiousness, or owning basic possessions. Without those widely-accepted indicators of confidence in place, you might not realise you have any at all. But confidence is necessary to get where you want to be. It’s required to empower a team, stay motivated to work and make those audacious requests.
Master the art of showing confidence at work
Yota Trom
Yota Trom is a coach on a mission to help leaders in technology connect with their inner confidence. As a coach and the founder of Together in Tech, a London tech meetup that turned into a global network of 6,000 people who build their businesses while supporting each other, Trom has seen first-hand the patterns of self-doubt and imposter syndrome that many leaders experience. Trom started her own career as a software engineer, moving up into senior roles at Amazon and Yahoo before securing her masters in Positive Psychology and Coaching Psychology. She is also a visiting lecturer at University College London (UCL) on the topic of Humanistic Leadership and Management.
By helping her clients realize their potential and understand their self-imposed limitations, Trom has seen them become more confident in their abilities and better able to build on their strengths, leading to more success in their chosen fields. This success has come in the form of huge pay rises, game-changing promotions and complete career pivots. Here’s how to make this happen for yourself.
1. Understand what confidence is
Trom believes that confidence is a skill that can be developed. She suggests that people should first identify the areas where they already feel strong and confident, of which, “everyone has at least one area.” Once identified, they can spot patterns and build their confidence in other areas.
To do this, think of three areas of your life that you feel good about and know you are doing well. “Confidence is the feeling of recognising that you are good at something,” Trom said. So dig into the reasons you feel that way about those things. Perhaps you have developed the skills, you have been doing them for a sustained period of time, or you feel you have a natural talent. However small, unpack your existing confidence in those specific areas.
Next think of “three things that you are less good at, that you think might need improving,” and apply the same lens. Why do you feel unconfident about these things? Knowing that you have a track record because you successfully completed those things in the first list, “take that confidence through to the second list, and think about them in the same way.” Feelings of confidence in one field can be translated into another once you know how they came to be. Now the gap between where you are where you need to be is clearer, you can work to fill it.
2. Find your inner calm
“Identifying your strengths and maximizing them comes more naturally to some than others,” said Trom, “but the most confident people are also the most authentic.” They know who they are and they know how they show up, and this is consistent across their week.
Cultivating this consistency and connection starts with self-awareness and leads to creating a plan of action. For the awareness step, Trom advises that you, “close your eyes and try to connect to your centre.” Find a sense of calm inside your physical body, maybe by anchoring on your breath. See if you can describe how you feel when you do this, perhaps, “aware, open, peaceful, calm, receptive, clear.” Labelling how you feel when you are fully in the present moment means you can get back to this moment when you are next in a challenging situation.
“Your centre is where your confidence exists,” said Trom. Being able to revisit this place will help you find that sense of inner confidence that can go awry with stress. Think of the words you came up with and recite them as mantras. Use the words to reconnect with your inner stability and peace.
Master the art of showing confidence at work: 5 actionable tips
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3. Upgrade your self-talk
Build and demonstrate inner confidence by being conscious of the words you use to describe yourself. Trom encourages her clients to “use empowering words and tell themselves stories that are kind and loving,” instead of focusing on their weaknesses.
Think about a recent setback or rejection you dealt with. Notice how you talk to yourself when you feel like you haven’t done your best or have missed the mark. “How were you thinking about yourself and your role in what was going on, as you were processing the information?” asked Trom. Do you berate and belittle yourself? Many of us do.
Now, “imagine someone you deeply care about describing how they felt after hearing an adverse reaction to their work or request.” Visualize them explaining how rubbish they felt and wishing they had done something different, blaming themselves for not doing enough. “What would you think about them and what would you say to them? Compare the difference in how you treat and reassure them to how you speak to yourself.” Trom knows that you were probably kinder and more generous to them. Next time apply the same compassion to your own situation.
4. Work on your assertiveness
The next step to displaying confidence at work is to practice assertiveness so you can speak up for your values and needs. This means knowing what you want and communicating clearly to others “in an assertive yet kind way, without being confrontational.”
To get good at this, revisit your centre. Next time you notice someone’s defensiveness in response to your request, or you feel uneasy about asking for what you want, ask yourself questions. “What is really bothering me? What do I need? What would make me feel good here?” she said. Ask, “how can I frame this in a way that makes it clear that it’s not coming out of anger? How can I communicate more respectfully?”
Trom’s advice is to apply empathy to the other person. One of Trom’s clients was recently frustrated that taking notes in meetings seemed to always fall to her. Instead of simply venting her frustrations, assuming malice or letting resentment build, Trom advised her client to “suggest that this task was intentionally rotated around participants and create the process for future meetings to ensure everyone got the chance to take the notes. Rather than focusing on the problem and frustration in the role of a victim, channel the energy into the solution and communicate in an assertive way.
5. Reward yourself
Finally, look back and reward yourself for your accomplishments to date. It’s so easy to go through our work making incremental progress without stopping to reflect on how far we have come. Celebrations don’t have to be grandiose, even a congratulatory journal entry or pre-dinner acknowledgement of the win might be enough.
“We tend to focus on what’s coming next: the next goal, the next achievement, and we rarely take the time to look back into what we have achieved so far.” But doing so can spark confidence. Trom suggested to diarise acknowledging successes, for example at the end of a hard training period or work sprint. This way, as you are persevering you know there will be a period of reflection coming. It doesn’t feel like you’ll be labouring away forever. Use the reflection period to notice the strengths you brought forward.
“The most powerful emotion we can harness is love, and loving yourself leads to having the confidence to show up exactly as you are and motivates you to continue striving for success.” This starts by acknowledging and celebrating your wins, however small they are, and rewarding yourself accordingly.
Master the art of showing confidence at work
Master the art of showing confidence at work by understanding confidence and what it looks like when it is present, then connecting to your inner sense of calm to find this feeling more often. Upgrade how you talk to yourself when things don’t go to plan, practice delivering your words assertively and reward yourself for the wins. The confidence you seek exists within you, now it’s time to bring it out.
Holy Child Public School, Faridabad is an uproar name in the education galaxy, bearing a deep legacy of nearly five decades. Empowered by the team of Ex defence officers and pioneered by Late Captain R K Bhatia and madam Shobha Bhatia in the year 1976 the school has been marching ahead since then with gaiety and vigour. HCPS Sector 29 and Sector 75 have been bragging with academic and non-academic achievements in almost every sphere. The school has produced many district level toppers on regular basis in classes X and XII.
Every year a slew of awards makes their way to the HCPS doorway likeawards and recognition for India’s Best School, state-levelgymnastics and tabletennis,most Innovativeschool, state-levelabacus and many more. The school has produced outstanding resultsat district,state andzonallevels in all the games like Volleyball, Table Tennis, Lawn Tennis, Yoga, Athletics and Skating.
The school has a distinguished army band that has brought laurels to school at state, zonal and national levels year after year. HCPS not only focuses on the intellectual development of futuregenerations but also takes care of the emotional, physio-cultural and behavioural development. The HCPIans have always been gathering applauds and laurels for going through NEET, IIIT, NDA and other competitive exams successfully.
The students have regularly won district andstate-level competitions and also qualified forthe national level in the domains of music and dance.
Recently HCPians participated in MUN in which students learnt about diplomacy, international relations and the United Nations.
The highly skilled faculty has been trained with all the 21st-century measures, making students holistic individuals. The infrastructure is not only mesmerising and flooring but also speaks volumes about the alluring methodologies that go inside making our learners inquisitive.
The school in its endeavours to unfold the scientific and robotic potential of the children provides them with contemporary and scientific infrastructure.
Disclaimer: This article is a paid publication and does not have journalistic/editorial involvement of Hindustan Times. Hindustan Times does not endorse/subscribe to the content(s) of the article/advertisement and/or view(s) expressed herein. Hindustan Times shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the view(s), opinion(s), announcement(s), declaration(s), affirmation(s) etc., stated/featured in the same.
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