The past week featured considerable discussion in the media and other channels about the Society of Human Resource Management’s announcement that it would no longer include “equity” when referring to diversity, equity, and inclusion programs.
HR Policy Association, which represents the Chief Human Resource Officers of 360 large companies, believes equity is an integral part of diversity because it helps provide a level playing field of opportunity and reinforces inclusion.
Diversity, equity, and inclusion programs support a company's ability to succeed in the talent marketplace and enhance its talent pipelines. Both are vitally important to a company in delivering positive results for shareholders and other stakeholders.
Contrary to a few highly publicized examples, the vast majority of large employers are keeping their diversity programs and diversity metrics. A recent ESGAUGE survey shows that two-thirds of S&P 500 companies incorporate DEI metrics in their executive pay plans to reinforce diversity goals.
Moreover, a 2024 Edelman Trust Special Report revealed that 76% of employees trust their employers to address racism, a figure that underscores the crucial role companies play in promoting diversity, equity, and inclusion. (By comparison, trust in the government to address racism is 36%.) Further, 60% of employees affirmed that a good corporate diversity program is key to attracting and retaining them.
HR Policy Association is leading in this area through member-informed research and insights, including a recently released report, "Corporate Diversity, Equity, & Inclusion: Beyond Labels & Altruism," part of our Advancing the American Workforce series. This Fall, we will release insightful research on how company Employee Resource Groups are evolving to help companies succeed in this complex but opportunity-rich area. Last year, we released our Latino Worker Project report to help companies understand the impact of Latinos from different backgrounds on the workforce as the U.S. continues to experience significant demographic changes.
We are eager to continue learning from our members and other key stakeholders, and we look forward to sharing our findings in the months to come, ensuring everyone is included in the ongoing conversation about diversity, equity, and inclusion.
For more information, please contact Amanda Beck at abeck@chro.org.
