The financial industry continues to be plagued by a lack of diversity and complaints about harassment and discrimination. For example, according to a 2017 U.S. Government Accountability Office (GAO) report, only 21% of all management positions in the financial sector were held by racial minorities. And this figure dropped to 12% at the senior management … Continued
Despite the tech industry’s reputation for fostering innovative concepts and novel ways to approach challenges, the industry still has not been able to solve the persistent glass ceiling that prevents women from being promoted into a proportionate share of executive positions. For example, according to a comprehensive survey by the AnitaB.org, even though women account for … Continued
Sexual harassment lawyer Eric Bachman spoke with WealthManagement.com about the persistent problem of sexual harassment against female financial advisors and why so few of them report this illegal behavior. “It’s really necessary for [firms] to be out in front of this and treat this like a real business problem that they need to be figuring … Continued
When joining or exiting a company, executives face unique challenges to ensure their rights are protected given the variety of compensation they receive beyond a salary. Knowing precisely what your compensation consists of and how to maximize its value during negotiations is essential. Below is a high-level review of the key concepts, and more detail … Continued
A friend and trusted mentor, Robert (Bob) Childs, Jr., passed away last week and his memorial service is being held today in Alabama. I worked with Bob from 2001 to 2008 and he taught those of us lucky enough to work with him the importance of tenacity, perseverance, civility, and humor. Bob left behind many … Continued
Family Dollar agreed to pay $45 million to a class of female store managers who sued the company claiming they had been paid less than male store managers. Earlier this week, a federal court approved the class action settlement. The pay discrimination claims arose under Title VII of the 1964 Civil Rights Act as well … Continued
A federal jury awarded over $13 million in damages to a single plaintiff in a sexual harassment/hostile work environment case brought under Title VII and New York State Human Rights Law (NYSHRL). The award, however, is likely to be reduced since the jury awarded more than $11 million for punitive damages under Title VII. Under … Continued
Despite significant gains made by women and minorities across corporate America, a stubborn glass ceiling prevents them from advancing to the most powerful and highest paying positions in the workplace. For example, a recent study found that in 2017, the number of female Chief Executive Officers (CEOs) among Fortune 500 companies dwindled to just 5.4% … Continued
Given the soaring numbers of people working as independent contractors (gig workers) rather than traditional employees, an important question has emerged about what protections these gig workers have against discrimination. The most familiar federal anti-discrimination law is Title VII. But this important law protects only “employees,” not “independent contractors” and others working in the gig … Continued
A new case in California explores the ongoing legal debate about whether law firm partners should be considered “employees” versus “employers.” Why does this matter? In the California case, it is the key distinction that dictates whether the law firm partner must forego a discrimination lawsuit in court and instead arbitrate her legal claims, which … Continued
