As glass-ceiling lawsuits continue to rise and the U.S. Equal Employment Opportunity Commission steps up enforcement practices, companies are increasingly deploying sophisticated forecasting tools to better predict and assess their risk of being the target of discrimination-based charges and investigations.
With the EEOC having secured more than $372 million last year in relief from the private sector and expecting to potentially double that for 2014, these rising stakes have led companies—especially financial organizations—to adopt new data-based approaches to risk management. In many cases, this involves using an economist’s specialized lens. The financial sector is paying particularly close attention, as it has been heavily scrutinized by the EEOC—which, in its Strategic Enforcement Plan (SEP) identified the smashing of glass ceilings in the financial industry as a means to provide highly public examples of a zero-tolerance policy.
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