Resilient D&I: Michael Stuber First pointing to the “others”
Consistency, clarity, coherence
When BlackRock, by far the largest publicly held asset management firm, first communicated about board diversity to companies in which they had invested, the message was not much discussed by D&I experts or the media. It was noted, however, that there was a discrepancy between what was requested from others and what the often male-dominated company did internally. In addition, D&I had been added as a second topic to climate change, which was the headline of that Shepard’s Message.
It appeared that connecting D&I with a broader societal agenda upset a part of the target group that preferred that an investment firm should stick to its business realm. Actually, many companies experience the same effect: When management positions D&I somewhere between business and philanthropy, criticism grows faster and stronger, compared to a solid business-based storyline— another aspect related to the polarizing effect of making gender or racial inequality part of a corporate mission. These and other topics have become explicit elements of public political battles where a large group of people only sees either/or: them versus us, red versus blue, etc. In this context, BlackRock’s statement was opposed by those who had a different opinion—for it was perceived as an opinion in the first place.
Crossing a red line In 2019, however, the tone of BlackRock’s diversity communication had slightly changed and suddenly created heated reactions. This year, D&I was added to a pledge for purpose—again within the context of the annual BlackRock letter to CEOs. D&I was combined in a fluffy way with other “issues […] from protecting the environment to retirement to gender and racial inequality, among others.” The approach was unfortunate in several respects and provoked polarized reactions from cheerful support on one side and to hefty backlash on the other. None of that was related either to questions about internal BlackRock D&I or to potentially questionable objectives of the company.
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What high-profile communication about D&I has to consider In a polarized context, where racism, sexism, ageism, and homophobia have become parts of reality again, D&I must be a more elaborate than in the beginning, when creating attention and raising basic awareness was appropriate and enough. Lessons from the above and other cases include the following: • Back to Business: In a business context, base
your D&I story on business arguments only, and make sure these are firmly connected with corporate priorities • A Clear Priority: Position D&I as a dedicated contribution to the business agenda and not as a second or support item of another trendy topic with which “everybody agrees” • Choice of Timing: Choose a business context for your D&I communication and make sure it is just as recurring as other business communications (market, financial, etc.) • A Proven Approach: There is a ton of evidence for the value-add and benefits of diversity today, which should be reflected in your D&I language; today, there is still too much language of “belief” or “conviction,” which must be replaced by “knowledge” and “proof.” By recalibrating the positioning and communication of D&I, the approach does not become less human, nor does it lose its social impact. A clear, sharp, and sometimes hard appearance provides the objective base for D&I that is required in an often hostile and sometimes aggressive environment. Allowing and encouraging everyone to identify with and engage in D&I is another element that is key in this regard—and therefore, widely discussed and considered going forward.