What must the corporate world do to overcome growing diversity fatigue?

Diversity fatigue is not a new phenomenon; however, in 2022 it began to spread rapidly in the workplace. Diversity fatigue manifests itself through DEI program shortgages, resignations of chief diversity officers, and dissatisfaction among large numbers of employees with corporate DEI efforts.

Some experts state that this fatigue is caused by external factors such as economic recession. However, there are numerous issues in the DEI industry itself that exacerbate diversity fatigue, including: focusing on diversity numbers; prioritizing diversity over inclusion and equity, as well as gender and race before any other diversity criteria; hidden diversity quotas; and positive discrimination. According to a McKinsey study, US companies spend about $8 billion annually on DEI training, but only 23% of HR professionals mark them as highly effective. Chief diversity officers face burnout and constant pressure to make the correct (i.e., the socially acceptable) DEI decisions. Another challenge is measuring DEI progress. Diversity metrics are easily quantifiable, which makes growth indications easy to compare. In contrast, initiatives focusing on inclusion are more intangible and harder to measure. As a result, some companies inappropriately prioritize diversity over inclusion in order to demonstrate progress.

The DEI community requires a new approach, one which can overcome the issue of diversity fatigue to make DEI work for the company and not against it. Instead of prioritizing society’s demand for representation rates, companies should look at DEI as a tool that can help them expand to new markets and grow their revenue. DEI can also deepen overall employee satisfaction, increasing chances of retention. While DEI is essential for companies wishing to grow and create a positive workplace environment, it may not be obvious how such change can be achieved. Join this session to learn more about practical solutions for resolving diversity fatigue.

The panel speakers will discuss:

• Hidden underpinnings of diversity fatigue

• Innovative approaches to curing diversity fatigue

• A daily DEI routine that stops diversity fatigue in its tracks

Speakers

Laura Agharkar Global Head of Diversity, Equity and Culture at Nasdaq

Yetta Toliver Global Head of Diversity, Inclusion and Belonging at Xerox Corporation

Traci Sanders Vice President - Global Head of DE&I at Verizon

Antoinette Hamilton Global Head of Inclusion & Diversity at Lam Research

Moderator

Mahdis Gharaei Co-Founder & Co-CEO at the female factor