In light of recent legislative changes and the evolving social and political climate, AFROTECH™ continues to stand firm in its commitment to fostering diversity, equity, and inclusion (DEI) within the technology and business sector. Our mission, to highlight the talents and achievements of Black professionals in technology, has never been more critical.
The Supreme Court’s 2023 decision to overturn affirmative action and recent laws enacted in some states pose challenges to DEI initiatives, particularly at colleges and universities. However, it’s important to emphasize that this decision does not alter the law governing corporate diversity programs (New York State Bar Association Report on Advancing Diversity, 2024).
Abandoning diversity initiatives at this juncture can pose significant risks for companies, including discrimination litigation, pay equity enforcement, public relations backlash, shareholder derivative suits, and more.
We are immensely proud of our partners who have demonstrated an unwavering commitment to DEI, despite the challenges posed by the current environment. The business case for corporate diversity has never been more clear:
- Companies with racially diverse executive teams outperform their peers in profitability by 39% (McKinsey, 2023).
- Businesses with diverse teams are 70% more likely to capture new markets (Forbes, 2023).
- High-diversity companies outpace low-diversity companies by $750 million in average sales revenue (NYSBA Report on Advancing Diversity, 2024).
Moreover, a recent U.S. Harris Poll survey on behalf of The Black Economic Alliance showed that 78% of Americans agree that corporate America should reflect the racial diversity of the American population. Over 80% of Americans agree diversity positively impacts business areas such as innovation, talent recruitment, customer reach, and more.
AFROTECH™ is here to support you, offering a space where your efforts to recruit and partner with Black tech talent can thrive. We invite you to join us in championing DEI.
Together, we can unlock immense economic potential as closing racial wealth gaps could increase U.S. GDP from $1 trillion to $1.5 trillion by 2028 (McKinsey Institute for Black Economic Mobility, 2023).
Let’s collaborate to set an example of what commitment to an equitable economy and diverse workforce looks like for our businesses, industry, and nation.
