Diversity, equity and inclusion (DEI) experts, practitioners and academics have recognized that effective DEI practices at organizations require CEO commitment. But what happens when a CEO of a Fortune 500 company has made a commitment, yet claims there's a lack of Black talent for leadership roles?

Let me explain.

As protests for racial justice took place around the nation following the killing of George Floyd in May, companies began re-evaluating or creating DEI initiatives at the request of employees. In June, Wells Fargo CEO Charlie Scharf told staff in a memo that the company would soon tie executives' pay to progress in DEI, according to Banking Dive, and that the bank intended to double its number of Black leaders. However, in September, it was revealed that Scharf made the following comment in a memo during the summer, according to reports: "While it might sound like an excuse, the unfortunate reality is that there is a very limited pool of Black talent to recruit from." 

"I was just floored when I saw the comment," Angelique Hamilton said. Hamilton is an HR practitioner and diversity and inclusion consultant advising small businesses and startups. She has 20 years of HR and operations experience. "I was really dismayed that someone in the C-suite, specifically a CEO, would make those types of remarks." It's a "longstanding myth" that there is a lack of Black talent for leadership roles, Hamilton said. 

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