A courageous conversation within leadership could prevent cutting the critical resources for DEI from organizational budgets.

The KEIRUS Leadership Team

Setting organizational budgets are a significant part of planning for the following year, especially during the fourth quarter. If there are extenuating circumstances within the economy, CFOs and the executive leadership team may look for ways to mitigate financial impact by cutting items for specific initiatives before the end of the current year. Organizations often re-evaluate the original budget to ensure alignment with the predictions for the economy, supply chain, and the financial markets. This level of foresight is required when preparing company budgets, but it should not derail DEI commitments.   As 2022 ends, we want to encourage you not to pull back on DEI. While a recession appears to be inevitable, and the impact of inflation is undeniable, diversity, equity, and inclusion are more necessary now than in times past. Recent turbulent seasons created painful awareness that belonging can and should be a core value.   

Now Is Not the Time for Short Term Memory Loss 

There was a global pro-DEI stance in the aftermath of May 2020. DEI was at the forefront of everything from launching massive DEI initiatives to marketing campaigns encouraging donations to support inclusion. Did organizations dangle DEI in front of their employees to calm a raging storm to simply cruise through with piece-mill programs? The push to appreciate diversity was apparent 22 months ago, but did it take root and grow? 

A recent discussion on Instagram highlights this concern.  Anti-Racism Daily (@ardtakeaction) posed this question on Instagram: "All the performative statements from 2020 have vanished, leaving few programs in place. How have you seen efforts around DEI change at your company since summer 2020?" 

Some of the responses in the comment section confirm momentary action void of momentum:   

• We will never see the impact if the programs are cut as soon as we value P & L's more than people and racial justice. @razzleyaz 
• Don't get me started on all the investment and reporting transparency "pledges". Where dey at? @sixthstreetsocial 
• My company wants to cut the DEI panel from our main educational event @jianaodd 
• In 2020-2021-one of my yearly goals had to be DEI related. Now everyone's just trying to stay afloat. @seanthearena 

One commenter challenged others to call out their company's failed commitment in the comment section.  Instead, we want to encourage this philosophy, "let's call ourselves out." Where was your organization in 2020/2021 related to DEI, and where are you now?  

An Accountability Check-In 

Now is the time to reset and refocus. Evaluate your successes, but also acknowledge where efforts have fallen short. Determine how you can be most effective in your DEI initiatives and make them an integral part of your organization despite the gloomy economic forecast.   

The decision to reduce DEI efforts down to the bare minimum turned out to be unfavorable after the tragic murder of George Floyd. Our firm was called upon in a surge to support the evident need for culture transformation the social justice issues and pandemic caused. As we approach a new year, we want to see organizations remain proactive and not reactive to tensions, fiscal pressures, and traumatic events. Most of our clients  are standing firm with their DEI partnerships and initiatives intact, but some companies may be considering cutting back in the face and fear of the unknown. 

DEI is often considered a nice-to-have, but we beg to differ.

DEI is foundational and should be at the forefront of your organization in today's climate and beyond. The investment will circulate tangible and intangible value back to your organization and a powerful sense of belonging for your employees. We are pleased that our clients have found results in their investment with our tech-enabled consulting firm and are forging ahead.   

But what if you are not pleased with your organization’s DEI progress? It that’s the case, it's a perfect time to prioritize and get back on track. We can help you answer the question, "Now What?" 

Viewing diversity, equity, and inclusion, as a journey that will one day no longer be a necessity has created a false-positive goal. It is time we embrace the reality that DEI is complex and always evolving. What business leader wishes for a day they will no longer need to invest in marketing to promote their brand? Some of the biggest, most well-known brands in the world invest millions annually to ensure they maintain their dominant market position. 

So why do we think we should ever stop investing in our people?