DE&I: More Important than Ever in Times of Crisis
During economic crises, businesses often focus on short-term priorities such as cost efficiencies. In the face of global economic uncertainty, a potential shift in company priorities may result in lost momentum on the Diversity, Equity, and Inclusion (DE&I) agenda, potentially leading to multiyear setbacks on DE&I.
In fact, 7 out of 10 DE&I leaders among large Danish companies expect a potential economic downturn to negatively affect DE&I in their company, resulting from, e.g., reduced DE&I budgets and less executive focus. In addition, redundancies that are often induced by a period of recession are evidenced to disproportionately affect women, potentially compounding any existing gender inequalities.
DE&I should never be viewed as an “optional” topic for companies, but rather a business imperative, having been linked to better financial performance and competitive advantage.