Whether rooted in a genuine philosophy or simply in an effort to avoid the backlash of “woke” social media influencers and investment firms, corporations have increasingly invested in the so-called “diversity, equity, and inclusion” ideology over the past several years.
This has resulted in a clear shift toward prioritizing employment based on identity instead of competence as well as the promotion of lifestyles that many once-loyal customers find objectionable.
As the Biden economy continues to crumble and brands from Target to Bud Light face ongoing boycotts, however, many companies are slowly shifting their stance on such DEI initiatives.
According to a new report from Paradigm, a consulting firm that tracked corporate spending in recent years, 2023 saw a significant dip in the number of organizations making investments in these programs.
Unsurprisingly, the report found that DEI spending skyrocketed in response to widespread protests over the death of George Floyd while he was being arrested by officers in Minneapolis, Minnesota, in 2020. That initial burst of interest has since dropped considerably.
Last year, 58% of organizations monitored by Paradigm had a dedicated budget for DEI initiatives. That percentage dropped to 54% this year.
Additionally, the report found that DEI strategies employed by organizations fell by 9% over the same period.
“There are a number of headwinds contributing to this shift: the first is economic uncertainty that not only led to reduced spending across the board, it also firmly shifted the power balance back to employers,” the report determined.
We revealed the true nature of DEI, organized lawsuits against discriminatory policies, and submitted "diversity and inclusion" to public scrutiny. Now, the backlash begins. pic.twitter.com/Vl6QjWGDaV
— Christopher F. Rufo ⚔️ (@realchrisrufo) November 27, 2023
A number of the key decision-makers in these companies appear to be seeing diminishing returns on their investments.
As Paradigm explained: “Over the past several months, we’ve heard from a number of HR leaders who are de-emphasizing data and analytics as part of their DEI efforts, in response to the changing legal landscape and increased scrutiny on DEI efforts.”
None of this means that the underlying pursuit of leftist ideals is going away, of course. In fact, the rate of hiring among those in positions related to DEI actually increased this year, as did the number of companies that have placed a priority on hiring women and minorities to the exclusion of otherwise qualified White males.
