DEI DRUMBEAT — Companies that publicly embraced diversity, equity and inclusion programs in the aftermath of the 2020 murder of George Floyd have begun reframing those efforts in the wake of a conservative backlash that has made DEI a dirty word. That backlash has reached the presidential campaign trail, with some Republicans aiming to paint Vice President Kamala Harris as a “DEI hire” by President Joe Biden — and former President Donald Trump pouring gasoline on that fire by questioning Harris’ racial identity. The conservative political attacks on the “S” part of the environmental, social and governance triad have forced companies to reckon with their own policies — some legitimately scaling back corporate commitments, and many others shifting their messaging to sharpen the business case. “There is a broader, difficult cultural and political moment around corporate DEI, and you’re seeing lots of companies trying to de-escalate the tensions surrounding DEI programs, reassessing their commitments and statements, and trying to sort of steer clear of certain classifications or terminology that could be viewed as stereotypes or controversial,” said Andrew Jones, senior researcher at The Conference Board, a global nonprofit think tank. Morris DeFeo, partner and chair of Herrick Feinstein’s corporate department, said momentum swings for and against DEI programs have been subject to shifts in public perception. Seismic events like the killing of Floyd and the Supreme Court’s decision to end affirmative action in higher education have contributed to the broader business mood. “You’re going to see a pendulum back and forth, with people taking advantage of the politicization of the topic during an election season,” he said. A few major companies have reportedly shrunk their DEI initiatives, which can include recruitment and retention of diverse workers, boosting pay equity, and supporting external groups. Google and Meta have cut efforts. John Deere said it would no longer sponsor “social or cultural awareness” events. And Microsoft also caught heat for allegedly retreating, though a company spokesperson disputed that account in an email exchange with your host. Overall, two-thirds of business executives consider the current environment surrounding corporate diversity efforts to be “very or extremely challenging,” according to a recent Conference Board survey. “Clearly, the political environment has evolved,” Jones said. “A lot of DEI commitments were made four years ago in the aftermath of the murder of George Floyd. Many of those were three- to five-year commitments, so perhaps now was a natural time to reevaluate and readjust those.” Corporate shareholders have on average supported fewer diversity-related proposals in recent years — in line with other ESG topics. Meredith Benton, a workplace equity program manager who consults for the shareholder advocacy nonprofit As You Sow, said that while the pressure is affecting how companies are balancing their stakeholders on DEI issues, “it doesn't change an economic rationale for having strong workplace equity programs.” “We are definitely hearing a shift in language,” she said. “The way that DEI is being framed in conservative circles — it’s actually a meritocracy that they are calling for. We are beginning to use that word more actively. Diversity, equity and inclusion initiatives in the workplace are intended to create a meritocratic system. We are leaning into that more heavily.”
| 
No comments:
Post a Comment