If you watch Newsmax or Fox News all the time, you might think Diversity, Equity, Inclusion, or DEI is a discriminatory practice whose time has come.
However, diversity—of people and backgrounds—has led to business and financial success. That is why corporate titans like Apple and Costco aren’t changing their policies.
Attracting and retaining talent is central to businesses’ efforts to provide products and services to their customers. A strong culture makes hiring the right people for jobs easier because it provides a wider pool of candidates.
Some people would have you believe that a lack of diversity leads to better business results, but that is not the case.
Diverse companies are 70% more likely to capture new markets and increase revenue to new levels. Harvard Business Review conducted a cross-country study examining the relationship between managerial diversity, leadership support, and business outcomes.
There are some individuals and organizations who would prefer that diversity initiatives disappear, so we can go back to a time when African Americans and Hispanic individuals received less opportunity and much less than an equal chance at success.
Despite the recent political pressure against DEI programs, Apple and Microsoft have reaffirmed their commitment. These companies realize that inclusivity impacts culture and helps them build better products and services for a global audience.
Scaling back on DEI programs can alienate consumers and employees. For this reason, advocates and commentators on X (formerly Twitter) have recently called for a boycott of Target.
If you follow this column, you know I have written about the need for larger minority contracts with the opportunity to hire employees, enter new markets, and grow sales revenue.
We will be in the new political climate for at least the next four years, which brings unique challenges around communications and business operations. However, the current environment is no excuse for ending policies that ensure an equal playing field. Without those policies in place, discrimination, favoritism, and other factors make competing at a high level impossible.
Last I checked, conservatives wanted the government to stay out of business and remove or eliminate regulations. Ask yourselves why this focus on DEI programs exists and why suddenly the same conservatives are arguing for government interference in private business activities.
The business owners and leaders I have spoken to are not looking for an unfair chance at success but rather the same chance given to many others. The companies keeping DEI policies in place are on the right side of this debate.
Teresa M. Lundy is the principal and founder of TML Communications, the award-winning strategic public relations, crisis communications, and community engagement firm serving corporations, nonprofit organizations, and government agencies. Follow Teresa on Twitter @TeresaMLundy.
