4Chill Guys
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Roz Brewer has spent a lot of time taking calls from other CEOs—most of them white men—hoping to improve their companies’ DEI, or diversity, equity, and inclusion: an effort (with roots in the American civil rights movement of the 1960s) to advance equitable representation and opportunity at work, in school, and beyond. Roz’s record shows why she’s received those calls: Among other things, she has painstakingly compared the salaries of her employees to ensure pay equity, and she has acknowledged that the work of employee empowerment doesn’t end at the recruitment stage. “You have to create an environment where...their voice is heard so that they can show off their wares,” she says.
DEI has a complex history, littered with companies that have sung its praises while maintaining exclusionary practices. One question among experts in the field: Is the primary goal of these efforts fairness for its own sake or bottom-line success? The argument that DEI makes good business sense (because, for example, a diversity of perspectives promotes revenue-driving practices like
critical thinking
) could, according to a 2022 study published in a journal of the American Psychological Association, end up alienating marginalized people from the very companies that make that argument. Still, the logic behind the good-for-business case is well-established. A study conducted by global consulting firm McKinsey analyzed data from 366 public companies across Canada, Latin America, the U.S., and the U.K., and found that those in the top 25 percent for racial and ethnic diversity are 35 percent more likely to see above-average financial returns.
But however a company frames its DEI mission, it’s unlikely to result in significant change if the messaging is not grounded in sustainable practices. So how can your company take meaningful steps toward greater DEI? From the break room to the C-suite, here are five strategies. Keep in mind that there are many more out there and that achieving true diversity, equity, and inclusion requires deep commitment and a range of approaches.
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