The Days Of DEI Look Grim, But It Does Have A Future

The DEI industry is expected to push past $24 billion by 2030.

When it comes to the future of DEI, industry experts say the initiative isn’t going away. In fact, it’s expected to grow despite the current anti-DEI movement, according to a Forbes report.

Data from Research and Markets show the DEI industry was estimated at $9.4 billion in 2022. DEI in the future is expected to be worth over $24 billion by 2030.

There has been an increase in pushback from conservative lobbyist groups and Republican leaders, with Meta, Walmart, Target, Lowe’s, Ford, Toyota, Stanley Black & Decker, Harley-Davidson, Boeing, Coors, and Jack Daniel’s rolling back their DEI strategies.

Nearly a dozen high-profile companies have not given up on DEI initiatives. Costco, Apple, Cigna, Coca-Cola, Citigroup, John Deere, Progressive, MGM, and PepsiCo have all vocalized their support for DEI. Cisco and JP Morgan Chase have gone a step further and defended their DEI efforts.

Experts from Working Deal said, “An executive order cannot prohibit private employers from engaging in lawful strategies to advance equal opportunity for all under Title VII of the Civil Rights Act of 1964.”

However, companies could face some challenges in trying to achieve quotas or mandatory training.

What industry leaders are paying attention to are the benefits of DEI, including costs. According to the Forbes report, exclusion is more costly than DEI. Exclusion shows up in employee attrition, discrimination, equity lawsuits, lower revenues, and profitability.

Even with the pushback from conservatives, DEI is expected to grow and thrive thanks to employee resource groups, allyship programs, and partnerships.

The Forbes report estimates that 90% of organizations have employee resource groups (ERGs), and many companies have kept them despite pushing back on DEI initiatives, including Walmart. Allyship programs and partnerships with community organizations will continue to fill the gap in educating the leadership in companies.