Last Updated:
10/25/20 3:28 PM
overall rating:
keep going
Square
Internal Representation & Support
64%
Public Commitment
61%
External Communication
54%
To evaluate this pillar, we take into consideration a range of factors, including but not limited to:
- Employee representation
- Diversity, equity, & inclusion (DEI)
We weigh a company’s degree of public commitment primarily on their monetary contributions to DEI matters or organizations fighting racial injustice.
Forms of monetary support we look for:
One-off donations
Recurring donations
Grant initiatives
Employee donation matching
Highlights
The Square diversity page is super transparent in regards to their efforts to increase diversity and what has been effective. Additionally, as of September, Square will be donating $100M to "Minority and Underserved Communities".
Lowlights
In a press release about the Square Capital Report released in January, Square notes that “minority business owners are more likely to apply for financing — but less likely to receive it" without any further detail on this comment. In June, Square was holding on to 20-30% of each transaction for "risky sellers" according to a new rolling reserve policy to protect consumers.
We scour the company’s website and official social media channels to determine what message they are sending around racial injustice, how they are communicating it, and whether their communications are perceived as genuine or performative.
Public statement: We verify that companies have made a formal statement regarding racial injustice.
Social media: We consider how a company uses their platform(s) beyond performative allyship.
Representation: For companies that have the opportunity to showcase diversity in their feed, we consider whether they have adequate Black representation and BIPOC representation across their models.
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Deep Dive
I. Internal Representation & Support:
Board of Directors:
8% - 9% Black, 6% - 10% BIPOC, 26% - 30% Women
Executive Leadership:
0% (none) Black, 21% - 25% BIPOC, > 50% Women
10% - 11% Black, > 40% BIPOC, 36% - 40% Women
Workforce:
An appointed DEI senior leader and/or a dedicated DEI organization, A Black employee resource group
DEI Support:
II. Public Commitment
Square has pledged a donation of 0.001% - 0.009% of annual revenue towards racial injustice, specifically for Black lives. Additionally, Square has engaged in actions that advance racial justice and/or uplift BIPOC communities, such as partnerships with nonprofits or mission-based organizations, sponsorship of events, and matching donations to a broad range of qualifying organizations. Square is also an advocate for the LGBTQ+ community and immigrants.
III. External Communications
Square has issued a public statement on social media addressing racial injustice that included specific calls to action, and explicitly stated "Black Lives Matter." Since June 2020, 21% - 30% of the brand's social media content has been centered around racial injustice with posts seeking to continue the momentum of BLM. While the brand does not regularly feature models in their social media posts, there is little to no evidence of additional actions the brand takes to show support of the LGBTQ+ and other marginalized communities.
