TBN #22
are layoffs a broke đź’°đź’°đź’° decision?
In a previous newsletter, I mentioned I read Rachel Rodger’s book, We Should All Be Millionaires: A Woman’s Guide to Earning More, Building Wealth, and Gaining Economic Power. In her book, she distinguishes the difference between million dollar decisions and broke a** decisions. As I continue to hear about corporate layoffs and the layoffs of several DEI professionals, I wondered: are layoffs a good decision or a broke decision?
According to Revelio Labs, DEI roles are diminishing at a faster pace than non-DEI roles, beginning in 2021 and continuing to accelerate during layoffs in 2022. These layoffs are continuing into 2023, as well. Across all companies, DEI roles tend to have more employee turnover. Further, over 300 DEI professionals have left from companies that have experienced recent layoffs, sometimes amounting to the “exodus” of entire diversity teams.
While layoffs provide short-term cost savings they also create bad publicity for companies, loss of institutional knowledge, weakened engagement, higher voluntary turnover, and lower innovation which all affects profitability (Source: Harvard Business Review). Layoffs are also costly because they may include severance packages (read: payouts), increased unemployment insurance rates, and lower morale and productivity.
However, DEI roles are often cited as bringing in new diverse employees and contributing to employee satisfaction. Layoffs, especially layoffs of DEI teams, do not have to be the answer to cutting costs. In fact, there are cost-cutting alternatives to layoffs like job transfers and furloughs.
TLDR: DEI roles are being eliminated at higher rates due to company layoffs. Layoffs are short-term solution with potentially negative long-term impacts.
What do you think? Are layoffs a broke decision?
WEEKLY UPDATE
CLIFF NOTES: IN CASE YOU MISSED IT…
Equal Pay Day (March 15)
More reason to love Target
Ohio bill would ban diversity mandates, China ties for colleges
Wellesley students vote yes
BENTON’S BASICS: INTERSECTIONAL FEMINISM
Long story short…
In Women’s History Month, it is important to understand the need for inclusivity in feminism. At its core, feminismadvocates for gender equality and fighting against gender-based discrimination. However, feminists have not always been inclusive of their efforts. Therefore, many folks are advocating for intersectional feminism. Intersectional feminism is the understanding of how women's overlapping identities — including race, class, ethnicity, religion and sexual orientation — impact the way they experience oppression and discrimination. Here are some steps you can take to become an intersectional feminist:
Educate yourself on feminist history and current issues affecting women (e.g., pay equality, domestic violence, healthcare)
Learn about intersectionality. For starters, educate yourself on the experiences of Women of Color, women with disabilities, and trans women
Take time to understand your own privileged identities
Speak up against sexism and discrimination when you witness it for the above groups
Support women's rights organizations and initiatives that are led and supported by WoC, women with disabilities, and trans women
Challenge gender stereotypes and biases in your own thinking and behavior
Work towards creating a more inclusive and equal society for all genders and their intersecting identities
STUDY HALL: PAY EQUALITY FOR DOMESTIC WORKERS
Pay equality is not just for women in desk jobs or who aspire to work in the C-suite. The majority of domestic workers are women, and more than half are Women of Color. Let’s learn more about how (lack of) equal pay impacts domestic workers in the U.S.
HOMEWORK: THE STRAYS
What I’m Listening To 🎧: Still reading/listening to Freedom Is a Constant Struggle by Angela Y. Davis.
What I’m Watching 📺: The Strays is a drama/thriller on Netflix that grapples with colorism and assimilation.
What I’m Drinking🫗: Water🚰 Not just any water. Water that comes from my LifeStraw Pitcher (the only water filter pitcher that removes bacteria and parasites, in addition to microplastics)
DANCE BREAK: WOKE UP LIKE THIS
There’s nothing like a song that helps you celebrate being yourself. Ayzha Nyree’s Woke Up Like This is a fun song to remind you of your greatness.
DOUBLE TAP: WHO I’M FOLLOWING
Leseliey (she/her) is a public health leader, co-founder of Birth Detroit and Birth Center Equity, a mom and a tireless advocate for work that makes communities stronger, healthier and more free. Follow or visit her website to learn more about her work.
I’d love to hear from you!
What do you need to be better in work and in life? Send me a message or connect with me on social.
