“Regardless of the moral imperative, corporate leaders are recognizing the potential investment, regulatory, and legal risks of doing nothing when it comes to addressing issues like climate change, diversity and inclusion, or corporate transparency.”
“Leaders must now mitigate and manage a broader set of risks while no longer being judged merely by their bottom-line performance or on the quality and price of their products. They must also meet a higher standard of conduct, in their environmental and social impact; their corporate governance; and in their diversity, equity, and inclusion efforts.”
There’s no question that investors are increasingly examining companies through the lens of non-financial factors. It stands to reason that businesses without ESG concern do nothing to attract employees wanting to make a positive difference in the world through their work.
“Many tech companies seem to have met several of their initial goals while promising to expand their commitments to diversity and inclusion efforts and racial justice causes.”
“Lack of diversity has been a longstanding shortcoming in health research. That lack has not only failed underrepresented groups in the past but also threatens the progress of medical science and the healthcare industry in the future.”
“Tokenism is a recipe for failure.”
Tomorrow’s DEI leaders understand that cross-functional change has to come with cross-functional benefits.
We’ve seen the effects of companies using numbers as knee-jerk reactions to diversity issues– low employee retention and little long-term improvement.
While the study examines the current state of Black workers in the private sector economy, they also strongly suggest that companies take a leadership position in terms of DEI.
Whether you call it Human Capital, Social Capital, or Workforce Demographics, your diversity data– and how you report it– must be part of a larger conversation on stakeholder noise and conflicting priorities.