#DEI #finance #Microsoft #diversity #inclusion #banking
Hey everyone! 💬 What do you think about Microsoft firing their DEI team? Do you think this could be a sign of things to come in the finance industry? 🤔
Here are some discussion points to consider:
– Will there be backlash or consequences for Microsoft?
– If not, will banks feel emboldened to follow suit?
– How important is diversity and inclusion in the finance sector?
Possible solution:
– Companies in finance could make DEI a top priority by implementing training programs and creating diverse hiring practices to ensure equality and representation in the workplace.
What are your thoughts on this? Share your insights below! 💡 #discussion #change #finance #industryshifts
I don’t know big or impactful this team was. But let this be a lesson to everyone that all diversity efforts will go away when the “man” no longer needs you. For big corporations, it was never about doing the right thing. But to answer your question, I think it would take a while for this to trickle down to finance since institutional investors still have DEI as a goal (for now).
It’s not going to be too impactful. People overestimate how many DEI staffers there are. DEI was solely the aftermath of the George Floyd stuff and even then, companies were half assing it. Mind you there were always diversity efforts, but it really went into overdrive in the past few years.
While some banks are going out of their way to skew demographics (JPMC is over 50% female IIRC), the best of the best will ultimately find a way.
I’ve never understood why the government doesn’t force companies to implement a name-blind and address-blind hiring process. Let’s base everything off of merit and compatibility.
Besides, these companies don’t really care about diversity; they only “implement” these measures to make themselves look good. Jobs in finance are often based on connections rather than merit. So the reason you aren’t even getting interviews probably isn’t because of DEI it’s just an easy scapegoat for people.
It’s cost cutting season across the world. They’ll be back when the world decides that they can spend money again.
As a person who is not white, I personally don’t care about DEI initiatives. I’m here to do my job and be good at it and collect my paycheck.
Personally, DEI groups are just there to stroke the egos of people who can go back and brag to their social networks during cocktail hour how they’ve become the “champions” of non-white folks and other minority groups. So to me, the slashing of DEI departments will only impact the financials because if your leadership team doesn’t respect minority groups or don’t care about diversity, a DEI department is not going to change that.
Simply, DEI Groups doesn’t do much of an impact if a shitty culture is already so don’t confuse my statement above that DEI groups are not needed.