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Companies Must Continue To Prioritize Diversity, Equity And Inclusion, Even During Tough Economic Times

Throughout the past several years, many companies have added diversity, equity and inclusion initiatives to their corporate strategies. A 2021 survey of HR and corporate leaders in Europe commissioned by Workday found that 75% have a “dedicated” budget for DE&I, and 90% are “carrying out at least one initiative” for having data “to drive a strategic approach of continuous improvement.”

While there is still a long way to go, these numbers indicate progress—and this progress mustn’t stall, or worse, reverse, in the coming months. As much as I would like to remain optimistic, I worry that many companies will put their DE&I initiatives on the back burner due to the state of the global economy. As Ali Hanan, the founder and CEO of diversity, equity and inclusion consultancy Creative Equals, recently explained, “DE&I is usually the first on the chopping block” when budgets are reduced.

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