Blog Post

Corporate DEI Still Matters: The Proof is in the Data

By Subha Barry
October 1, 2024

Lately, it seems like every headline reads, “DEI is dead.” Stories claiming that companies are backing away from diversity, equity, and inclusion initiatives are circulating widely. I recently came across an article suggesting that corporations are pulling back not only from DEI work but also from participating in DEI surveys. At Seramount, we’re seeing something very different.

Most Companies Are Staying the Course

We recently talked to a majority of our 600+ clients and found that 80% of companies are maintaining their DEI efforts, with an additional 10% doubling down. That leaves only 10% scaling back—largely companies that never viewed DEI as a business imperative to begin with. The data speaks for itself. In a recent national study of employees on all points of the political spectrum, Seramount found that over three-quarters of U.S. workers report being committed to helping their employers fight racism and injustice, and nearly 80% say it’s important for their company to foster an inclusive culture.

Organizations Still Value DEI Recognition

Interest in our annual U.S. Inclusion Index and related surveys is on the rise. Year after year, companies invest significant time answering hundreds of questions about their policies, programs, and benefits, demonstrating their dedication to DEI. These surveys not only serve as tools for introspection but also allow companies to benchmark their progress against peers. The challenges revealed by quantitative data often lead to the most impactful changes. For over 40 years, our 100 Best Companies for Working Parents list has provided a wealth of data, painting a rich picture of how the workplace has evolved—and where it’s headed. This commitment isn’t about box-checking—it’s about growth.

A Competitive Advantage

Objective, data-driven surveys like ours are vital and continue to serve as powerful recruitment and retention tools for corporations. Companies are constantly competing—whether for market share or top talent. Consumers increasingly want to support brands that align with their values, and job seekers, particularly from Gen Z, are no different. In fact, 83% of Gen Z job seekers consider a company’s commitment to DEI when deciding where to work.

The Future is Diverse

By 2045, the U.S. is projected to become a majority-minority nation, with non-Hispanic White people comprising less than half of the population. And Gen Z—already the most diverse generation in U.S. history—will make up a quarter of the workforce by 2030. The notion of diversity is evolving, and companies that fail to keep pace risk being left behind.

At Seramount, we see the evidence every day: our partners are not only staying the course, they’re deepening their commitment to DEI. In fact, we’ve seen the highest renewal rate of our partners this year. So, I challenge the narrative that companies are abandoning DEI. The truth is that for many, DEI isn’t just a passing trend—it’s a business imperative and it’s here to stay.

To claim that companies are scaling back on DEI is to minimize the work of organizations that understand its value. These organizations aren’t just committed to doing what’s right—they’re ensuring their relevance and success in an increasingly changing world. The real story is this: DEI is very much alive, and the companies that embrace it will be the ones leading the future.

About the Author

Subha V. Barry
Subha Barry
President
Seramount