The Congressional Black Caucus has released a new report advocating for the expansion of diversity, equity, and inclusion (DEI) policies in the workplace to promote economic prosperity and reduce racial wealth inequities. The report offers guidelines for corporations on best practices to adopt in advancing these policies and emphasizes the importance of recommitting to racial justice in the workplace. In response to the death of George Floyd, corporations pledged $50 billion to racial equity and strengthening DEI policies, but these efforts are now facing backlash from conservative activists and lawmakers.
Despite the backlash, the Congressional Black Caucus is urging corporations to continue advancing DEI policies and not back away from their commitments. The report, titled “What Good Looks Like: A Corporate Accountability Report on Diversity, Equity and Inclusion,” highlights the legal and constitutional basis for corporations to implement these policies. The study outlines twelve areas where corporations can focus on expanding DEI to help close the racial wealth gap, including workplace culture, data disaggregation, talent opportunities, retention rates, pay equity, and procurement policies.
The report is the result of a monthslong dialogue between the Congressional Black Caucus and nearly half of Fortune 500 companies, as well as academics and business analysts, to develop guidelines for promoting DEI and Black economic mobility. The study also addresses the recent Supreme Court ruling overturning affirmative action programs in college admissions, clarifying that it does not affect corporate DEI policies. Despite threats of legal action and restrictions from conservative groups, the report encourages companies to collaborate legislatively to create accountability for corporate America and support the values of the Congressional Black Caucus.
The Democratic chair of the Equal Employment Opportunity Commission has also emphasized the importance of fostering diverse and inclusive workforces, even in the wake of the Supreme Court ruling. The study calls on companies to collaborate with lawmakers to develop laws that promote accountability and help close the racial wealth gap. The CBC’s report has been developed in collaboration with CEOs from various industries, with a focus on manufacturing, financial services, and information sectors. The report emphasizes the need for action and accountability from corporations that have pledged to fight alongside the Black community in the wake of George Floyd’s murder.
As one of the largest and most influential blocs in the Democratic congressional caucus, the Congressional Black Caucus is dedicated to advancing the interests of Black Americans, especially in the areas of voting rights and economic mobility. The report acknowledges the activism sparked by Floyd’s murder and emphasizes the need for corporations to follow through on their promises to fight against racial inequality. Moving forward, the report calls on companies to uphold their commitment to DEI policies and work towards creating greater equality and inclusion in the workplace.
