The number of black promotions declines as companies pull back on diversity-focused efforts

Fewer black professionals are being promoted following a decline in diversity, equity and inclusion (DEI) efforts at corporate America, according to The Wall Street Journal.

The number of American organizations with a DEI budget he fell from 58% in 2022 to 54% in 2023. US companies are promoting black professionals at nearly the same rate as in 2019, which is much slower than the accelerated rates seen after the death of George Floyd in 2020. seconds in the WSJ.

Black women were promoted to their first managerial position at a rate of 54 for every 100 men of all races in 2022, compared to 96 black women for every 100 men in 2021, the WSJ reported, citing data from McKinsey & Co. Promotion rates for black men dropped from 72 promotions for every 100 men of any race promoted to a management role in 2021 to 66 black men. promoted for every 100 men in 2022.

Among workers, 32% believed that working in an ethnically diverse workplace was “very important” to them and 38% said it was “not very/not at all important”. seconds to a survey by the Pew Research Center. In the survey, 26% of workers found an “equal mix of men and women” to be “very important” in the workplace, while 44% said it is not important.

“There’s a really dramatic kind of backsliding and retreat that I’ve seen in a lot of places in terms of focusing on black men and black women in the workforce,” James White, the former CEO of Jamba who serves on the board of directors. the president of Honest Co., a consumer goods company, told the WSJ.

Large multinational corporations such as Netflix, Disney and Warner Bros. Discovery announced the departure of high-profile DEI executives and thousands of employees in DEI-related positions have been laid off since 2022.

Companies are withdrawing linguistic diversity tracking concerns that the Supreme Court could guide DEI efforts and programs in the workplace later shocking reduce college admissions based on race in June.

According to the WSJ, there are eight black CEOs in the Fortune 500 as of 2023, compared to four in 2020.

“If you were committed to the limit, you just exhaled and retired,” Michael C. Bush, CEO of Great Place to Work, a research and consulting firm, told the WSJ.

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