As I sit here writing this article, DEI programs in the workplace face attacks across the country. In fact, many organizations have shut down their DEI efforts all together (Harley-Davidson and John Deere), while others are modifying their program with the removal of the “E” (Microsoft, SHRM, etc.). For those of us who still whole-heartedly support DEI efforts, we are faced with a challenging reality – companies across the country are looking inward…and outward…to better understand how DEI impacts their business and as a result they are redefining what it all means for them.
With all the shifts happening in the corporate world, not to mention the many legal challenges DEI has faced, it’s a necessary reality that leaders reevaluate their own stance and respond accordingly. I read all the articles. I study the ‘why’ these changes are happening. I keep up on the court cases. And, I still maintain, DEI is not only the right thing to do…it can still be good for business.
There have been many studies and research showing the positive impacts of DEI to business, but I thought I’d share the results of a recent study of 2,000 organizations (sponsored by AWS). That study found that 75% of leaders saw DEI investment have a positive impact on their competitive position.
63% attested to a positive impact to agility and innovation. Those who lead in DEI maturity saw an 11.7% market share gain and 36% saw significant improvements in financial performance. Overall, the results showed a positive impact from DEI on business results. And this study was recent…amongst the flurry of attacks on DEI. I would add that a genuine commitment to DEI also strengthens an organization’s talent strategy for acquisition and retention. Who doesn’t want to work at an IDEAL workplace! And while some companies are abandoning their DEI programs, many are keeping them –for all the reasons listed above. In fact, according to a survey of 125 major companies (shared with USA Today). “The vast majority – 96% – of corporate social impact professionals in 125 major companies say DEI commitments have either stayed the same (83%) or increased (13%).
The US population continues to become more diverse (not just in race, but in all areas of demographic make ups), making the markets we serve more diverse and the need for real representation critical. And the need for inclusion and equality are equally as important, as they are both essential to a highly engaged workforce.
Given the many tides (ebbing and flowing), I realize some companies are having to re-calibrate their approach to DEI in the workplace. But I can only see positive results, especially in the long game. Consequently, Archbright remains committed to IDEAL as a company strategic pillar: [We are an] ideal place to work where we encourage everyone to bring their authentic, best self every day. We believe our employees should feel respected and included for their individual identities, backgrounds, perspectives, and passions. Together, through our diverse set of voices, we inspire each other, innovate, and use our influence to support removing systemic inequities at Archbright and our business community.