{"id":6555,"date":"2024-02-20T22:01:41","date_gmt":"2024-02-20T22:01:41","guid":{"rendered":"https:\/\/tup.kxe.temporary.site\/the-war-on-dei-is-hitting-marketing-and-hurting-business\/"},"modified":"2024-02-20T22:01:41","modified_gmt":"2024-02-20T22:01:41","slug":"the-war-on-dei-is-hitting-marketing-and-hurting-business","status":"publish","type":"post","link":"https:\/\/okdesign.ca\/fr\/the-war-on-dei-is-hitting-marketing-and-hurting-business\/","title":{"rendered":"The war on DEI is hitting marketing and hurting business"},"content":{"rendered":"


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In the past year, many very profitable tech companies \u2014 Apple, PayPal, Google, Meta to name a few \u2014 have laid off many people. They have done this to \u201cmaximize shareholder value.\u201d I call this the Jack Welch strategy, named for the former General Electric CEO who laid off more than 100,000 employees<\/a> to increase short-term stock value and created a company that long-term saw its market cap go from $450 billion to $200 billion.<\/p>\n

One of the areas hit first and hardest by these layoffs was these companies\u2019 DEI efforts<\/a>. At the same time, marketing organizations at major corporations have become less diverse, according to the ANA\u2019s latest report on diversity in the advertising and marketing industry.<\/p>\n

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Before we get to that, let\u2019s make one thing very clear. Cutting DEI is exactly what not to do if you want to maximize shareholder value. There has been a huge amount of research on diversity in the workplace. It overwhelmingly shows that companies with greater diversity and inclusivity at all levels outperform those with less.\u00a0<\/p>\n

Definitions: <\/strong>Diversity is the presence in an organization of people reflective of the society in which it exists and operates. Inclusivity is a work environment where everyone is treated fairly and respectfully and has equal access to opportunities and resources. Equity is the fair treatment for all people, so that the norms, practices, and policies in place ensure identity is not predictive of opportunities or workplace outcomes.<\/p>\n

Diversity is good business<\/h2>\n

Here is a tiny sample of that research:<\/p>\n