US companies scale back DEI programs

Partner and chair of Herrick's Corporate Department, Morris DeFeo, was quoted in the International Financing Review in an article discussing the current trends in diversity, equity and inclusion (DEI) initiatives in corporate America. The article discusses the reassessment of diversity initiatives by companies since the Supreme Court struck down "race-conscious admission programs in universities." 

The article notes that while "well-crafted DEI policies are legal, companies are adapting programs by removing race-based language in communication materials, removing racial targets in recruitment, and reworking diversity programs to include a wider group of employees." The article highlighted that in lieu of quota systems, companies should focus on mentorship programs. 

Morris stated that "companies need to emphasize the business benefits of diversity programs, such as access to a wider pool of talents and better employee retention. They need to show that they are improving their bottom line through these programs, not just ticking the box.” 

DeFeo also discussed that he has witnessed first-hand how mentoring helped entry-level employees from underprivileged backgrounds. “My parents never graduated from high school and I have been very lucky to have been mentored by people who took the time to help nurture me as a professional,” he said. “That meant the world to me.”

Read the full article in the International Financing Review here. Access may require a subscription.