Six in 10 employees say they won't work for organizations that fail to speak out against racial injustice, the
Edelman Trust Barometer finds in a new special report shared first with Axios.
- About the same number — 62% — say companies are "doing mediocre or worse" in living up to their promises to address racism at work and in their communities, the survey says.
Why it matters: The findings suggest that most employees favor diversity and equity initiatives even as
Republicans in Congress and officials such as Florida Gov. Ron DeSantis (R)
want to punish companies and agencies over what they dismissively call "woke" policies.
Zoom in: Those saying that companies aren't doing enough to address racism rose 8 percentage points from last year, the Edelman survey said.
- About 65% of women respondents agreed, compared with 58% of men — both increases from last year.
- Among the employees who said their company or organization isn't making meaningful progress in addressing racism, unfunded (diversity, equity and inclusion (DEI) initiatives ranked as the No. 1 reason.
- 73% said employers must ensure diversity across functions and levels to address racism. Hispanic employees (81%) were the largest percentage to agree with this statement.
- The survey also found divisions between executives who believe companies are progressing on inclusion, and employees who are far less optimistic.
What they're saying: "I think the takeaway for business is, if you thought you were doing well, you're not," Lisa Osborne Ross, Edelman's U.S. CEO and senior sponsor of the study, tells Axios.
- "Companies should respond by realizing that when you do not have a representative workforce, your work suffers."
- Those companies that don't heed the call on diversity will "eventually become extinct and irrelevant," Ross said.
State of play: DeSantis signed into law this month
a bill barring Florida officials from investing public money to promote environmental, social and governance goals.
- The bill also outlaws the sale of ESG bonds, a popular way to fund renewable energy projects or lower debt costs for borrowers if they meet gender diversity or greenhouse gas emissions targets, per Reuters.
- It's part of a larger movement by Republicans to stop private companies and corporations from pursuing policies supporting racial justice, LGBTQ rights and the fight against climate change.
Many companies have backed away from such programs to cut costs or because of political pressure and new laws pushed by conservative Republicans.
Yes, but: Ross said companies that have walked away from such goals "weren't committed in the first place."