Companies neglected their new DEI promises after inflation took hold. They’re making a tactical error, experts say.

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 155 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 65%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

"What companies do during this time period will serve as evidence of whether they are truly committed or were just jumping on the DEI bandwagon in...

Jane discovered she had lost her job as part of Twitter’s inclusion, diversity, equity and accessibility team on a Saturday night, when an attempt to log into the company’s Slack channel failed. The news was confirmed in an email early Sunday.

The demise of Twitter’s DEI team set an unhappy precedent, coming at a time when the movement to create greater equity for women and people of color in the workplace was already slowing, according to Lili Gangas, the chief technology community officer at the Kapor Center, a nonprofit that works to improve racial justice and equity in the technology sector.

While the term “woke” originated as a bit of Black American vernacular and has a decades-old history, figures on the political left today use it in reference to social-justice advocacy, while right-wing politicians and commentators often use it to describe liberal priorities or policies they don’t like. And DEI initiatives at companies have become a target of that criticism.

Nearly three years later, “I’m seeing a freeze on budgets,” she said. “I predicted this would happen, because throughout history, whenever we see an advance for social justice, the pendulum swings back.” Others say the movement had slowed almost immediately after the first wave of headlines and statements from companies and executives, and the first rush to create DEI divisions and pledge funds toward hiring more people of color and those from other historically marginalized groups.

Hispanic workers and women are overrepresented in layoffs, likely because they tend to occupy lower-paying roles that are often first to be cut. Staff at the middle-seniority level are also overrepresented, which is problematic because it’s where tech companies in particular tend to have the most diverse teams, Ayas said.“There was a lot of hiring of diversity officers without a real plan of diversifying the workforce,” she said. “You need to create a culture of belonging.

In the tech sector, for example, companies had a clear opportunity in that moment to take a key step toward adding more people of color to their workforces, he said: that is, finally allow people to work remotely and widen the recruitment pool to locations outside of centers like Silicon Valley, New York and Massachusetts, which had become unaffordable for many.

Companies that decide to abandon their DEI push when times get hard are making a tactical error, according to numerous studies that have found having a diverse and inclusive culture can give a company a real competitive edge. “An organization is not truly committed to DEI if its efforts are expendable, being based on the economy or the prominence of inequality and injustice issues in the news cycle,” Ella F. Washington, an organizational psychologist and DEI scholar who sits on the faculty of Georgetown University’s McDonough School of Business, wrote in her 2022 book, “The Necessary Journey: Making Real Progress on Equity and Inclusion.

The suits came after a string of high-profile incidents in which Black people were denied service for hours, while white people were promptly served. The company settled by paying more than $54 million — then the biggest-ever settlement under federal public-accommodation laws — and pledging to get its house in order.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

These two companies are designing a next-generation moon rover for NASA's Artemis missionsLunar Outpost and Lockheed Martin are teaming up to create a next-generation moon rover for use in the Artemis missions.
Source: BGR - 🏆 234. / 63 Read more »

AI companies ask U.S. court to dismiss artists' copyright lawsuitStability AI, Midjourney, and DeviantArt fired back Tuesday at a group of artists who accused them of committing mass copyright infringement by using the artists' work in generative AI systems.
Source: Reuters - 🏆 2. / 97 Read more »

The best companies for career growth per LinkedInInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Source: BusinessInsider - 🏆 729. / 51 Read more »

'Zombie' companies headed for pain amid high rates, credit crunch: expert'Zombie' companies are headed for a year of pain as rates move higher and access to credit gets cut off, think tank expert says
Source: BusinessInsider - 🏆 729. / 51 Read more »

Sen. Dave Cortese on Bill That Would Make Companies Track Violence in the WorkplaceThere’s a bill working its way through the state legislature to make sure companies keep track of any violence in the workplace. And, actively develop training to protect workers from violence. Senator Dave Cortese introduced the bill and he represents the area of Pleasanton where that Home Depot is located.
Source: nbcbayarea - 🏆 596. / 51 Read more »

Google reportedly plans to let companies use AI-generated ad content | EngadgetGoogle's advertising customers will soon be able to use the company's generative artificial intelligence to create ad campaigns, according to the Financial Times..
Source: engadget - 🏆 276. / 63 Read more »