Research: why companies should disclose their lack of progress on DEI

illuminem summarizes for you the essential news of the day. Read the full piece on Harvard Business Review or enjoy below:

🗞️ Driving the news: Despite public commitments to increase diversity post-2020, many companies have failed to make significant progress
• Research indicates that disclosing these shortcomings might actually benefit companies by enhancing their perceived commitment to diversity

🔭 The context: Following George Floyd's murder, numerous companies pledged to improve workforce diversity, often making these commitments very public
• However, by January 2021, around 95% of large U.S. companies chose not to disclose their diversity data, despite having it available

🌍 Why it matters for the planet: Transparency in diversity efforts can foster trust and accountability, essential for meaningful progress in social justice and corporate responsibility

⏭️ What's next: Companies may need to balance transparency with strategic communication, especially in the face of increasing DEI backlash and potential legal challenges following recent Supreme Court rulings

💬 One quote: "Being transparent about unfavorable outcomes signals that organizations’ commitment to strengthening diversity is real," said Evan Apfelbaum and Eileen Suh

📈 One stat: Approximately 95% of the largest U.S. organizations did not publicly disclose their diversity data by January 2021

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