Facing rising scrutiny and backlash, more than half of companies are changing how they present their diversity, equity, and inclusion (DEI) initiatives, according to recent data from the Conference Board. A survey of over 60 executives revealed that 50% have adjusted DEI terminology to reduce an emphasis on racial diversity, with 20% more considering similar changes. Notably, “equity” is frequently being omitted as it’s perceived as the most controversial term. A Response to Legal and Social Pressures This shift follows increased pressure from conservative activist groups and legal challenges. The
Two of the most influential Black business leaders in the US are calling on companies to rethink scaling back their diversity, equity, and inclusion (DEI) efforts, according to CNN. Ken Frazier, who served as CEO of Merck from 2011 to 2021, was the first Black CEO of a major pharmaceutical company. Ken Chenault, CEO of American Express from 2001 to 2018, was only the third Black CEO of a Fortune 500 company. The leaders warned that reducing DEI efforts could limit opportunities for future generations of leaders facing racial and
Workers of color made up 40.1% of the high tech workforce in 2022, comprising a share similar to the total US workforce, according to a new report from the US Equal Employment Opportunity Commission (EEOC). However, Black and Hispanic workers remain significantly underrepresented in the high tech workforce and sector, especially in senior roles, depsite growing numbers. The high tech workforce The high tech workforce refers to workers in 56 science, technology, engineering, and mathematics (STEM) occupations regardless of industry, for example, an engineer working at a nonprofit. Black high tech
Atlanta-based venture capital firm Fearless Fund has permanently closed its Strivers Grant program, which provided $20,000 grants to Black women entrepreneurs. This decision follows a settlement with the American Alliance for Equal Rights (AAER), a group led by conservative activist Edward Blum, the man behind the Supreme Court’s affirmative action ruling. Nevertheless, Fearless Fund remains committed to empowering historically overlooked entrepreneurs and plans to launch a new debt fund to continue supporting those in need of capital. Fearless Fund’s Legal Battle In August 2023, AAER sued Fearless Fund, claiming the
The Congressional Black Caucus (CBC) has called on Fortune 500 companies to reaffirm their commitments to diversity, equity, and inclusion (DEI) initiatives and set clear, measurable goals amid rising challenges to DEI programs nationwide. Holding corporate America accountable The CBC’s first-of-its-kind report aims to hold Fortune 500 companies accountable for their DEI pledges made after George Floyd’s murder in 2020. Titled “What Good Looks Like”: A Corporate Accountability Report on Diversity, Equity, and Inclusion, the report is based on months of meetings with hundreds of executives across different sectors and
Brand new Techish! This week, host Michael joined by TechCrunch reporter Dominic-Madori Davis. VCs for Trump vs VCs for Kamala (00:00:10) X is just Elon’s Truth Social (00:04:40) The DEI President (00:08:00) UK riots, racism, and the right to hate speech? (00:15:02) The stock market dip (00:27:23) Preparing for an AI world (00:29:24) Listen to the episode You can find the Techish podcast on Spotify, Apple, and all good podcast apps. Watch On YouTube Extra Reading & Resources VCs For Kamala: 100+ Silicon Valley Investors Back Harris’ Presidential Bid [POCIT] Some
Brand new Techish! This week, hosts Michael and Abadesi dive into: • Microsoft lays off a DEI team (00:00:20)• AI bias in performance reviews (00:08:16)• The myth of meritocracy (00:12:31)• The UK has a new government (00:15:00)• Make politics attractive again (00:19:12) Listen on Spotify or Apple podcast also. Watch On YouTube Extra Reading & Resources • Microsoft Faces Backlash After DEI Team Layoffs [POCIT]• We asked ChatGPT to write performance reviews and they are wildly sexist (and racist) [Fast Company]• Black Man Who Got A Job Interview After Using A Fake Name On Resume Files Lawsuit [POCIT]
Microsoft’s recent decision to lay off a Diversity, Equity, and Inclusion (DEI) team due to “changing business needs” has stirred controversy within the company, Business Insider reports. Internal Email Criticizes Microsoft’s Commitment A prominent leader from the DEI team, whose identity has been confirmed by Business Insider, sent an email to thousands of Microsoft employees. The email criticized the company for deeming DEI work “no longer business critical or smart” as it was perceived in 2020. This message resonated strongly across the organization, reflecting a sense of betrayal among employees
Business leaders have acknowledged that their companies are lagging behind in their diversity efforts, according to a new report by The IN Group. The “UNLOCKED: Tech and the Boardroom” report surveyed 705 C-level executives in the UK, US, Germany and Netherlands. In today’s competitive business environment, diversity, equity, and inclusion (DEI) have become critical components of organizational success, however companies are falling behind. We’re falling behind, Say C-level execs In the report, 3 in 4 (76%) respondents confirmed that they have a diversity and inclusion strategy in place when it
Pfizer has urged a US Court of Appeals to uphold a decision to dismiss a lawsuit from an anti-affirmative action group that challenged its diversity fellowship program. The US Court of Appeals for the Second Circuit dismissed Do No Harm’s lawsuit because the group failed to name at least one individual harmed by Pfizer’s program. The lawsuit against Pfizer The case involves Pfizer’s fellowship program aimed at recruiting and training Black, Latine, and Native American leaders. Do No Harm’s lawsuit claims the program violated federal civil rights laws. In March,
