Donald Trump’s war on DEI policies has caused a number of major corporations to bend the knee.
The president and his followers have falsely portrayed diversity, equity and inclusion programs as illegal and discriminatory against straight white men, in particular. And he gave his bigoted threats some teeth this week when he ordered his attorney general to compile a report with “recommendations for enforcing Federal civil-rights laws and taking other appropriate measures to encourage the private sector to end illegal discrimination and preferences, including DEI.”
Multiple companies — including McDonald’s and Walmart — already had acquiesced and shut down their diversity initiatives, and Target joined the list Friday. But it appears some other large companies are — at least for now — pushing back against this right-wing crusade and refusing to abandon their official commitments to diversity in the workplace.
Multiple companies — including McDonald’s and Walmart — already had acquiesced and shut down their diversity initiatives, and Target joined the list Friday.
Costco is receiving some online praise, for example, after more than 98% of shareholders recently rejected a shareholder proposal for a report on any risks posed by the company’s DEI policies. JPMorgan Chase CEO Jamie Dimon and Goldman Sachs CEO David Solomon have faced similar activist proposals at their companies, but speaking at this week’s World Economic Forum in Davos, Switzerland, both said they remain committed to seeking out diverse talent despite the right-wing crusade. Asked in a CNBC interview about the anti-DEI push among investors, Dimon said: “Bring them on.”
A number of other CEOs at Davos, including Pinterest CEO Bill Ready, Vista Equity Partners CEO Robert Smith and Cisco CEO Chuck Robbins, all vowed that their companies will remain committed to prioritizing diversity even as they navigate the new legal terrain under Trump.
And good on them for that. Let’s hope they follow through, because doing so makes good business sense. DEI programs help foster work environments that studies have shown are more productive than ones where diversity isn’t emphasized.
So it’s fair to say the businesses that bend to the MAGA movement on this issue are spiting themselves. And the companies that don’t are equipping themselves to truly compete and excel in a world that is only getting more diverse.