What Diversity Millennials Value Most at Work

Forbes

2 days ago

Millennials, born between roughly 1982-1997, have experienced significant occupational and social challenges. They are one of the first generations in some time for whom large numbers expect a worse rather than better standard of living than their parents. This dire situation can be partially attributed to the crushing costs of student loan debt; other contributing factors include living through multiple recessions. But the data indicate that when it comes to millennials and their occupational and economic stability, times are bleak.
A group of young friends gather and use their cellphones in front of a bar while a couple kisses to ... More the left of the frame in the Cow Hollow neighborhood of San Francisco, California at night, October 8, 2016. In 2014, Cow Hollow was rated the most Millennial-friendly neighborhood of San Francisco. (Photo via Smith Collection/Gado/Getty Images).
One point many researchers have noted about millennials, however, is that along with their bleak economic position, they display more of a commitment to racial equity than their Gen X or Baby Boomer counterparts. This commitment is certainly present when it comes to millennials' perceptions of their ideal workplaces. They are more likely to say that diversity matters to them, that it's a critical component of the types of places where they want to work, and that they would not consider working in places that did not align with their principles on this issue.
Millennials have expressed this commitment in survey data, but their rocky occupational prospects raise the question of how deeply they hold these principles. Additionally, the wide variation in diversity and inclusion programming raises the question of what types of diversity matters most to them. DEI is often characterized as a race-based initiative, but it can focus on categories that range from gender to geography to viewpoint. Today, race-based DEI is experiencing a furious backlash culminating in shuttered offices, executive orders, and scrubbed websites. Millennials also still occupy a fraught position in the economic landscape. These factors beg the question of what types of diversity and inclusion approaches matter most to millennials, and how committed they are to seeing them in their workplaces.
I decided to pose this question in a research study and found interesting results. In interviews with 85 millennials in the financial industry, I found key differences in which groups wanted race-based diversity and which did not. I also found that the commitment to diversity was shaped by respondents' pronounced sense of occupational precarity and economic insecurity.
Our interviews showed that Black, Latino, and white women respondents expressed a preference for race-based diversity. Of these groups, Black workers' support for this programming might be the least surprising, especially since DEI has its roots in affirmative action and is widely (though inaccurately) believed to benefit Black workers disproportionately. These workers wanted to see race-based DEI initiatives in place because they felt this programming would offer a boost in a highly-stratified field rife with precarious employment. Latino men cited a preference for race-based diversity for similar reasons. Referencing their uncommon names and underrepresentation in finance, Latinos believed diversity that highlighted race could help them establish greater job security. Interestingly, white women also expressed a preference for race-based diversity. But unlike Black workers and Latino men, this preference did not stem from a desire for professional support, but for personal gain. White women millennials believed race-based diversity could help them to understand racial dynamics better and be 'part of the solution' rather than contribute to longstanding racial tensions.
While none of the groups in our study expressed outright opposition to diversity, we found that Asian Americans, white men, and Latinas were less interested in diversity that focused on closing racial gaps. White men supported diversity in the abstract but did not see a need for a focus on race. Somewhat similarly, Asian American men also acknowledged that diversity had general benefits but did not believe that race-based diversity offered much to them, as they expected these types of initiatives to focus more on advancing Black workers than themselves. Asian American women and Latinas were more vocal in their support for diversity, but carefully couched that support in gendered rather than racial terms. These women emphasized the rocky position women face in the male-dominated field of finance and believed that gender-based diversity would offer them more support than initiatives centered on race.
LONDON, ENGLAND - JANUARY 20: City workers walk past the Lloyds building in the financial district, ... More also known as the Square Mile, on January 20, 2017 in London, England. Following the announcement by Britain's Prime Minister Theresa May that Britain will leave the single market, financial organisations such as UBS and Goldman Sachs have reported that they are seriously considering either cutting staff or moving them from London. (Photo by)
Each of the groups in our study maintained that diversity was important. But because they were employed in jobs that were notoriously uncertain and precarious, that commitment to diversity was filtered through an analysis of what it could do for them. Some groups, like Black workers and Latinos, felt that race-based diversity offered a professional boost in environments where workers of color are significantly underrepresented. Others, like white women, believed it brought personal benefits. Asian American and white men felt diversity was good in the abstract, but in a highly competitive field did not see where it provided them with any advantages. And Asian American women and Latinas believed that with the occupational uncertainty that came from working in a male-dominated field like finance, they gained the most from diversity policies that sought to close gender gaps.
Our findings suggest that millennials may not be as broadly committed to diversity as they are reputed to be. Additionally, companies that wish to gain their buy-in may benefit from showing millennials ways that diversity and inclusion programs have professional or personal merits for them. At a time when many companies are seeking new ways to support diversity in a changed cultural and political landscape, millennials' stances suggest that one effective strategy may be to highlight the specific ways various groups benefit from these interventions.