Not included in the excerpt however was one paragraph about how Blackrock developed an ETF that they believed would demonstrate the power of "diversity" and its effect on profitability. When that ETF lagged the market greatly, Blackrock demonstrated the opposite (and proved the point of this article).
The solution to diversity was to build up other countries where they were and not allow them to use the US as a release valve for their problems.
So the ‘science’ of Diversity’, once the holy grail of woke MBAs and enlightened CEOs as a failsafe path to corporate profits, stockholder support, workplace happiness & customer satisfaction is not the magic elixir it was touted to be.
WHO KNEW? Certainly not the white, English speaking, over-40 managers who were displaced.
Someone forgot to tell Japan, China, and South Korea about this miraculous “diversity.” If only they had known about it, maybe they could have made something of themselves.
Every company needs an 80 IQ in management.
Comments BUMP!
I don’t suppose they’ll be any study of the relationship between hiring competent people and profitability?
Do the opposite what these highfalutin phony management consulting firms recommend.
Gee, it has only taken the WSJ Financial Experts NINE years to figure out the DEI is a loser.
Now, how many years will it take the WSJ to figure out the Biden sponsored INVASION of our country is also a loser.
The correlation would be more correctly ‘ in spite of’
Meritocracy = Success = Profits
All else is destructive , rent seeking, claptrap.
Thus ends the lesson.
diversity makes us all sick, its affirmative action on steroids
My first ever introduction to “diversity” was in company quality circles. The idea was to get a diverse group of people involved in producing products to improve the production process. Prior to this, and for decades going back, only the product “experts” were included. The line workers were always left out as they were just hands and fingers assembling stuff and what did they know? This “diversity” approach was hugely successful*. Next thing I knew, the word had been picked up by HR and changed to mean, “people who are not white, Christian or who speak English.”
* At a design review I brought in a cute young girl tasked with assembling the product. I was afraid they’d eat her alive and there was some snickering. She brought along the unassembled chassis, a tiny screw, a screwdriver and her work instruction. When it was her turn to talk, she sweetly asked the chief engineer if he’d put that screw into the proper place. He read the instruction then tried. Hilarity ensued. There was no way to do it. The screw was almost completely hidden between the chassis wall and under a transformer. After that they grudgingly included production in design reviews.
In reality, anything the left says is good is the exact opposite. Same thing when it comes to the federal government.
Anybody who believed that propaganda is a fool. (And P. T. Barnum was right.)
Diversity yielded Black led City States that are a disaster but which bring on the end to Progressive rule of the country
Who couldn’t have seen this?? Hire less qualified individuals and just watch things improve!!
How do you get rich with the Diversity Crowd that has an average IQ of 70?
Diversity achieved through affirmative action or quotas will akways lead to poor performance.
You want excellence? Try the merit system in a free-market environment.
And if a strictly merit and market based system does not result in a diverse team, that means the diverse groups that make up that society are not equally talented in certain areas.