Since November of 2023, when the Supreme Court ruled to ban affirmative action in higher education, DEI skeptics have been quick to suggest that the ruling somehow amounts to “precedence” for pulling back from DEI initiatives and commitments. But the headlines are far more dire than the reality in our industry, or in any industry for that matter.
We are just wrapping up the latest annual DEI report which started with Seramount and #Inclusive100 seven years ago. For six years a band of companies participated in #Inclusive100 and completed the Seramount Inclusion Index, and the results were illuminating. This year, however, we wanted to take a much deeper look at DEI specifically across marketing, media, and tech, so She Runs It funded the Seramount Marketing, Media, and AdTech Inclusion Index, tailored by members of #Inculsuve100 to explore questions and issues that matter most to us but haven’t been asked before.
One of the most important findings from the 2023/24 study is that employee and corporate commitment to DEI remains strong, with most companies viewing it as critical to their business strategy for talent, clients, and suppliers. The data reveals that DEI team size has increased overall, and budgets are holding steady and/or improving more than they are decreasing. A separate study conducted in August by Seramount surveyed 600 companies across industries and found that 80% are maintaining their DEI efforts, with an additional 10% doubling down.
The media headlines heralding the demise of DEI are wrong, and the business case for diversity has never been stronger. In addition to research from McKinsey, Deloitte, and others that tie companies with greater diversity to better financial performance, job seekers are also increasingly prioritizing diversity and inclusion when choosing where to work. This reality will only intensify as 83% of Gen Z job seekers consider a company’s commitment to DEI when deciding where to work.
Results of the first Seramount Marketing, Media, and AdTech Inclusion Index will be released before the end of October. We will post a summary report to our Website similar to this one. It will include new insights and data on the number of women in our industry, our struggle to retain Black talent, the (too) slow movement of multi-cultural women into executive roles, actions that companies are taking to attract and retain diverse talent, and an early look at how Chief Diversity Officers are starting to use AI to establish ethical guidelines, ensure diverse representation in development teams, conduct system bias audits, and promote transparency and accountability. As always, the report focuses on repeatable actions that move the needle on DEI progress.
We salute all of the companies who participated in the new index, and indeed all companies that continue to monitor and measure DEI progress. They are committed to learning and leading in the march toward greater diversity, equity and inclusion in our workforces and workplaces. We also congratulate the companies that were indexed in the first new survey, achieving a score of 60% or better. They will be identified in the report and in the press release later this month.
