Ten years after the hashtag “Black Lives Matter” first appeared on Twitter and three years after George Floyd’s murder, nearly two-thirds of Americans express support for the movement, according to Pew Research. expressed.
But his approval rating has since fallen sharply, to just 51%, according to the latest Pew poll. And that decline is also reflected in American companies.
Companies are much quieter about social justice issues these days than they were in 2020. This is exactly what many expected. There was public support, then backlash, and then withdrawal.
“A lot of companies are looking at their commitments and investments in diversity, equity and inclusion, especially when it comes to race, and saying, ‘This is not an area we want to focus on as much anymore.’ ā said Adia Harvey. Mr. Wingfield is a professor of sociology at Washington University in St. Louis.
And that can have a direct impact on the workplace, she said.
āBlack workers often feel left out and marginalized, especially in organizations where they are underrepresented,ā she says. āPeople in leadership roles are more likely to stall at the middle management level and less likely to rise to the top ranks of their organizations.ā
But the way people think about diversity in the workplace is changing, according to Pew Research’s Juliana Horowitz.
āA majority of U.S. workers (56%) say focusing on improving diversity, equity, and inclusion in the workplace is primarily a good thing,ā she said.
And while relatively few people say it’s very important to work in a diverse workplace, “some people with experience addressing DEI in the workplace say they’re concerned about equity, employment pay, promotions, etc.” Regardless of whether they have an organization or policy that ensures DEI, regardless of whether they receive training on DEI, the majority say it has a positive impact in their workplace,” Horowitz said. added.
When it comes to public companies, the frequency with which they discuss these issues with investors has decreased significantly.
Nick Mazing is Director of Research at AlphaSense and has reviewed the financial reporting records of over 500 companies over the past few years. More than 190 of those companies mentioned the word “racism” in calls following the 2020 killing of George Floyd.
“So far this year, there have been only 11 records mentioning the word ‘racism,'” he says. āWhat this means is that racism is on the table.ā [that] It no longer appears in the conversation between companies and Wall Street. ā
But “this doesn’t mean initiatives like employee resource groups, mentorship programs, and racial pay equity audits aren’t continuing,” Mazing added.
Looking instead to the proxy statement, which provides a broader outline of companies’ long-term plans, Mazing said many of the efforts launched during the country’s racial count are still alive and well.
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