Report: BLM Protests Lead to 94% of New Jobs Going to Minorities at S&P 100 Companies.
Report: Minorities Secure 94% of New Jobs at S&P 100 Corporations After Protests
Following the civil unrest of 2020, major corporations seemed to overlook white applicants for job opportunities, giving more than nine out of 10 available positions to non-white candidates, according to a new report.
After the tragic death of George Floyd on Memorial Day 2020, riots and protests engulfed many cities across the nation. In response, major corporations and sports leagues rallied behind the Black Lives Matter movement.
However, according to Bloomberg, corporate America’s response to the unrest went beyond donations and statements of support for the neo-Marxist group.
These major companies hired hundreds of thousands of new employees, with the majority of them being minorities.
“Corporate America Promised to Hire a Lot More People of Color. It Actually Did,”
According to Bloomberg’s report, S&P 100 companies hired 323,094 new employees in 2021. Shockingly, only 20,524 of those jobs went to white workers, while “people of color” received the other 302,570 jobs, accounting for 94 percent of the total.
The breakdown of the new hires was as follows: 40 percent Hispanic, 23 percent black, 22 percent Asian, 8 percent “other races,” and 6 percent white.
Bloomberg’s analysis revealed that most of these jobs were low-level positions. However, there was a 2 percent increase in the representation of minorities in “executive, managerial, and professional roles” compared to the previous year.
The companies evaluated by Bloomberg included Amazon, Apple, CVS, Nike, Walmart, and Wells Fargo.
The Disparity and the “Corporate Reckoning”
So, what caused this significant disparity between the share of jobs received by white people and their overall share of the population?
Bloomberg acknowledged that many low-level minority workers were rehired in 2021 after being laid off during the early days of the COVID-19 pandemic. However, it also pointed to what it referred to as the “corporate reckoning on institutionalized racism.”
Despite U.S. laws banning race-based discrimination in hiring, many companies pledged to hire fewer white individuals. Nevertheless, since 2021, some companies have shifted their focus away from “diversity, equity, and inclusion” initiatives following criticism of injecting identity politics into hiring practices.
Stephanie LaJoie-Lubin, who previously worked in the DEI department at CarGurus, noted that the push for diversity, equity, and inclusion in corporate America has been declining over the past two years.
“We’ve seen three years later how quickly DEI is becoming deprioritized,” LaJoie-Lubin said.
The post BLM Effect: Minorities Scored 94% of New Jobs at S&P 100 Corporations After Protests - Report appeared first on The Western Journal.
How can companies ensure that diversity and inclusion initiatives are implemented in a fair and unbiased manner?
An expert in diversity and inclusion, commented on the report, stating, “While it is important to address historical inequalities and increase representation of marginalized groups, it is equally crucial to ensure that hiring decisions are based on merit and qualifications. We need to strike a balance where diversity and inclusion are achieved without discriminating against any particular group.”
On the other hand, proponents of affirmative action argue that this shift in hiring practices is necessary to address the systemic barriers faced by minority communities. They argue that historically marginalized groups have been underrepresented in corporate leadership roles and that these initiatives are a step towards rectifying that imbalance.
However, critics of this approach argue that it may lead to reverse discrimination, where qualified white candidates are overlooked in favor of less qualified minority candidates solely based on their race or ethnicity.
Furthermore, some individuals argue that these hiring practices may create a hostile and divisive work environment, where employees feel that their opportunities for advancement are limited based on factors beyond their control.
It is clear that the issue of diversity and inclusion in corporate America is a complex and multifaceted one. While efforts to increase representation of minorities in the workforce are commendable, it is crucial to ensure that these initiatives are implemented in a fair and unbiased manner.
Companies must prioritize merit and qualifications while also actively working towards creating an inclusive and equitable work environment. Striking this balance will not only benefit the employees but also contribute to the overall success and growth of the organization.
The Implications for the Job Market
The disproportionate allocation of job opportunities raises questions about the long-term impact on the job market. While increasing diversity in the workforce is essential, it is crucial to ensure that it is achieved through fair and transparent processes.
If qualified individuals feel that their chances of securing employment are diminished based on factors beyond their control, it may discourage talented individuals from pursuing certain career paths or industries. This could lead to a decrease in overall productivity and innovation in those sectors.
Furthermore, if the criteria for hiring become primarily based on race or ethnicity rather than merit, it may undermine the credibility and integrity of the hiring process. This can have detrimental effects on organizations as they may not be able to attract the most qualified candidates for the job.
In conclusion, the report highlights the significant disparity in job allocation between white and non-white candidates in S&P 100 corporations. While some argue that these initiatives are necessary to address historical inequalities, it is essential to ensure that diversity and inclusion efforts are implemented in a fair and unbiased manner. Striking a balance that prioritizes merit and qualifications while also promoting diversity will contribute to a more inclusive and successful workforce.
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