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A Darker Side of DEI: When Profit Outweighs the true Purpose
In the summer of 2020, during the height of COVID lockdowns and soon after George Floyd’s murder, CEOs across industries scrambled to launch Diversity, Equity and Inclusion (DEI) initiatives. They wanted to show their customers that they were on the right side of history, committed to addressing systemic racism and the perceived wrongs against Black people. Non-melanated executives everywhere were quietly reaching out to Black colleagues like myself and saying, “Look, I’m lost… I don’t know how to respond. What can I do to help the cause? What should I say? How?”
Yet, just four years later, many of those initiatives have either been scaled back or quietly eliminated. The reason? Executives claim that their companies need to “refocus on core values” to maintain shareholder value.
The reality is, DEI initiatives are more likely to succeed when leaders are intentional and committed. And that success also depends on whether those leaders pass the torch to successors equally dedicated to DEI’s long-term goals. And authentic DEI initiatives can be hard work until they are truly part of a firms corporate culture.
However, DEI is often enthusiastically embraced when executives recognize it as a strategy to boost profits, penetrate new markets, or beat competitors.
