- Diversity, equity and inclusion initiatives may be among the first parts of a business to be eliminated in a recession, per data from Monster’s January 2023 future of work report. Eleven percent of employers surveyed said that DEI programs “are among the first to go when they are forced to cut costs,” second to company events and bonuses.
- Currently, only 5% of recruiters said that DEI efforts are one of their top three priorities.
- Meanwhile, about 40% of recruiters told Monster that, “more than ever,” workers expect to learn about potential employers’ DEI efforts.
HR research firms continue to predict that DEI will be at risk in 2023, as the health of the U.S. economy remains in question.
Last year, a Glassdoor researcher also told HR Dive that DEI and talent strategy are among the first areas of a business to be reconsidered amid economic decline.
Earlier this month, researchers in Workhuman’s 2023 Human Workplace Index also warned that DEI initiatives are often the “first to go” during economic uncertainty, adding that prioritizing inclusion and belonging can set employers apart in the recruitment process.
Workhuman’s January 2023 index suggested that managers and employees have different perceptions regarding DEI follow-through within their organization. This disconnect is worth addressing, since researchers believe substantial inclusion, belonging and equity initiatives help employees feel valued — and data indicates that racial and gender minorities feel distinctly undervalued at this time.
At a rate of about 49%, employees of color were more likely to report feeling undervalued. Similarly, about 48% of women reported feeling undervalued at work. The emerging trend of lackluster corporate care and attention regarding DEI provides an area of opportunity for company brand differentiation, Workhuman researchers said.
Considering recruiters’ reports to Monster that workers are more interested in DEI than ever, focusing on these initiatives can set employers up to retain and attain talent in a tough business landscape.