Boards must stay energized about diversity, equity, and inclusion

In the second half of 2020, a nationwide social awakening had businesses clamoring to make statements of commitment to diversity, equity and inclusion. Companies—including credit unions—raised their collective voices around the value of DEI, knowing consumers were watching.

Today, the spotlight on DEI may be fading somewhat. Many businesses may be wondering if they are done with DEI, and leadership must refocus on key business objectives to stay competitive. For credit unions, the current environment necessitates discussion around compressed earnings, increasing regulatory burden, pressure to gain economies of scale through merger and even how to keep payroll competitive.

In fact, DEI is not something to finish. Instead of being a distraction from the rest of the business, an emphasis on board diversity can be a key driver for fulfilling mission and business objectives.

 

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