What 'Equity' looks like for the rank and file Exclusive: Tom Harvey on what led to 47 million Americans to quit their jobs last year

wnd.com ^ | 3/4/2022 | Tom Harvey

[rktman]

"Equity" is defined as being fair and impartial. "Rank and file" are the ordinary members of an organization or business as opposed to its senior leaders.

The number of U.S. workers reached a high of 165 million in early 2020, at the start of the COVID pandemic. If you tally the number of CEOs, add the estimated people who report directly to those CEOs, plus the directors of the organizations these senior leaders manage one, can estimate that the top brass represent less than 3% of the total workforce. So how have the other 97%, the rank and file, the folks who drive trucks, wait on tables, make things, sell things, fix things and basically make the economy hum, fared?

DEI is a term used to describe policies that encourage representation and participation of diverse groups. This includes different genders, races, ethnicities, religions, cultures and sexual orientations.

More and more financial institutions, such as Goldman Sachs, JP Morgan and Blackrock, now include DEI "leadership demographics" in their decisions to invest, make loans or provide advice. They analyze CEOs, direct reports to CEOs and board members to see if the appropriate groups are adequately represented. Goldman Sachs loudly proclaimed they will "never take another company public if its leadership wasn't sufficiently diverse."

While some DEI measurements include all employees, companies that claim to embrace DEI must reflect a leadership suitably diverse and inclusive or risk being labeled "unacceptable" to a growing number of investment and financing sources.

[Chode]

yeright...

[pierrem15]

I spoke yesterday with someone I'm close to who has worked for a major US corporation in finance for 22 years. He's white, so he knows from his own HR department that he's bottom of the list behind women and "persons of color" for promotion.

Overwhelmed due to staff shortages he finally got a an assistant. His boss was a jerk to her, so she just put in her notice and is moving to another company with a $25K raise.

Meanwhile, the powers that be have offshored tech support, so if my friend has a financial report due tomorrow and has tech issues, he has to wait 24-36 hours for a response.

They also told him the defined benefits plan is being converted to a 401K with a cash payout that is far less than the annuity value.

So he is seriously thinking about early retirement, and knows that many of those who have done so are brought back in as high paid hourly consultants.

More worrying for the company, he knows that many senior engineers are doing the same thing.

We should recognize what this is: a scam, where the suits proclaim "diversity" and "inclusion" to hide the fact that they are boosting short term profits by gutting the company so they can cash in their stock options and bloated pay before the company gets into serious difficulty.

The executives should be prosecuted for racial discrimination and stock fraud.

[Newtoidaho]

You gots to have a lot of black assistant coaches because they’re the only ones who can speak jive.