Employers Increase ERG Budgets, Enhance Diversity Efforts

Employee Resource Groups (ERGs) are experiencing a resurgence as critical components of corporate diversity, equity, and inclusion (DEI) strategies, with 61% of employers planning to increase ERG budgets this year. Xerox's successful menopause policy highlights the potential of ERGs to foster inclusivity and drive significant organizational change. However, a recent report reveals that many executives feel unprepared for crises, with only 17% believing their communications teams are well-equipped to handle unexpected PR disasters. This lack of confidence is mirrored by a rising turnover rate among C-suite executives, with 27% indicating they may leave their roles within six months, attributed to dissatisfaction and increased demands. Experts are urging companies to invest in succession planning and support for senior leaders to mitigate these challenges. Overall, the trends indicate a pressing need for organizations to enhance their DEI efforts while simultaneously fortifying their crisis management and leadership structures.