Good day all. One of the WOKE initiatives many corporations have pit in place is the flat out racist Diversity, Equity and Inclusion policies. These polices basically blame Caucasians, primarily male, for all the worlds problems.
At their peak, we saw companies pushing things like a guy in a dress with a severe mental illness as Budweiser’s “Girl of the Year.” Not unexpectedly, people started rebelling against this garbage. There have been boycotts and in some cases legal cases against companies pushing this junk. Now that Bidenomics and Bidenflation are are reaching full devastation, corporations have started dumping their DEI initiatives. Here are the details from the Daily Caller:
Diversity, equity and inclusion (DEI) initiatives lost steam in 2023 compared to previous years as companies increasingly shift resources due to tightening economic conditions, according to Paradigm.
The total percentage of American organizations with a DEI budget dropped 4 percentage points, from 58% in 2022 to 54% in 2023, while the number of organizations with a DEI strategy fell 9 points in that same time frame, according to a report from consulting firm Paradigm.
That’s still to many companies that are supporting this crap.
“After two years of unprecedented investment sparked by 2020’s racial justice movement, this year, global momentum around DEI slowed,” according to the report from Paradigm. “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.”
That all depends on the employers. Take Disney as an example. They have lost billions this year on their movies this year and have recently released a statement to the SEC saying that their corporate values aren’t lining up with the market and that is a risk. However, Disney isn’t rethinking their WOKE/DEI policies. They are blaming the market and doubling down on their WOKE policies.
Despite the decline in funding, there was a 6-point increase in the number of companies that had a senior DEI leader and an 8-point increase in organizations that had goals related to representation for women in leadership from 2022 to 2023, according to Paradigm. A total of 20% of companies in 2023 had goals related to increasing employment related to race or ethnicity, which is a 4-point increase year-over-year.
Another problem with DEI is that the Supreme Court has been looking at how it’s being implemented and going “Yeah, no. We don’t think so.”
The shift follows concerns from companies that the Supreme Court could target DEI and race-based hiring in the workplace the same way it struck down race-based admissions at colleges and universities earlier this year. A pair of decisions by the Supreme Court in June involving Harvard and the University of North Carolina cumulatively ruled that using race as a factor in college admissions is not permissible under the Fourteenth Amendment of the U.S. Constitution.
The other thing about these DEI policies is that they cost money. In order to be a part of the “Diversity, Equity and Inclusion game, a company has to look at skin color, gender, and a whole host of check boxes in order to hire someone instead if trying to find the best person for the job. Because they are hiring people who meet the check boxes and not because of their abilities, they have to spend money to either train them up more then they expected, or to only give them tasks that they can do. (Which isn’t what they were hired to do)
Now the economy is declining and costs are increasing. Businesses are cutting back on their hiring and when they do, they aren’t considering all the WOKE/DEI trash. Add to that the issues with all the GenX brats now coming into the workforce and what they expect, businesses are cutting back on hiring.
Businesses pulled back from hiring in October, adding only 150,000 jobs for the month compared to 297,000 in September, while unemployment ticked up to 3.9% from 3.8%. The Leading Economic Index predicted that 2024 will only see 0.8% in the U.S. economy due to a possible recession.
I suspect it’s going to take a few years of really bad times, along with the collapse of one or more major corporations that embraces all this DEI/WOKE garbage before it’s finally ended as yet another progressive failure. (Think of Disney actually declaring Chapter 11 Bankruptcy and potentially being broken up and sold off) Only the companies that junk this nonsense will do well as their customers abandon the products pushed by WOKE companies. Frankly, the sooner it happens the better.
Thatisall
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