Diversity is not hurting the financial sector. Inclusive organizations are getting their money’s worth–and disproving DEI’s expendability narrative

SOURCE: FORTUNE
BY: TRIER BRYANT

Reports of massive layoffs disproportionately hitting corporate diversity, equity, and inclusion teams (DEI) and non-white professionals are one the latest setbacks for DEI professionals.

Just a few years earlier in 2020, DEI professionals moved to the forefront of corporate hiring after the George Floyd racial protests, and major companies flush with cash declared their commitments to tackle inequalities in their organizations.

In tighter financial times, DEI is likely to be considered an expendable part of a company. Despite evidence suggesting that inclusive organizations are more nimble and adaptable to change when the economy sours, DEI is still often considered the fat to be trimmed.

This expendability narrative would be a harder sell to corporate leaders if companies understood the business value of their own DEI efforts.

Today, more than ever, finding the business case for diversity is a competitive advantage. Under America’s rapidly changing demographics and global business competition, diversity has become a business imperative…..read full article.