Wednesday, March 6, 2024

“DEI” is not a 4-letter word

"DEI" is not a 4-letter word … no matter what some people want you to believe.

Companies such as Sherwin-Williams are scrapping their internal use of the words "Diversity," "Equity," and "Inclusion," and are replacing them with words such as "Belonging" and "Culture."

There is nothing wrong with a company employing people of different backgrounds (diversity); ensuring that every individual employee has what they need to succeed and the opportunities to do so (equity); and creating a work environment in which groups that have been historically excluded are included and valued for their different perspectives (inclusion).

These concepts should not be controversial in the least. Yet, some will tell you that DEI is racist, evil, and illegal. It's not.

Moreover, the reality is that DEI leads to better business outcomes for those companies that embrace it. Hegemony isn't only boring, it's also way less profitable.

💰 Companies with diverse workforces earn 36% higher profits.
💰 Inclusive teams are 35% more productive and 2.5 times more profitable than non-inclusive teams.
💰 76% of all employees (and 83% of Gen Z workers) value diversity as a top factor when deciding where to work.
💰 33% of people would refuse to work at a company that doesn't embrace DEI.

I suppose a company "rebranding" DEI is better than scrapping it altogether. But it's really, really sad that we have to have these conversations at all.