The largest and most profitable companies in competitive markets apparently meant it when they promised to interview and hire a lot more minority job applicants.
Hiring data from 2020-21 of 88 companies on Standard & Poor’s (S&P) 100 list bears that out. An eye-opening report from Bloomberg shows these companies increased their workforces by 323,000-plus following the George Floyd protests and riots.
The surge in hiring was dominated by diversity, equity and inclusion (DEI) initiatives. An eye-opening 94% of new hires could be categorized as “people of color (POC).” Whites – just over 70% of the U.S. population – accounted for only 6% of S&P 100 hires.
Just wait for the pendulum to swing back.