An Open Letter To Business About The Importance of CSR, Diversity, Equity and Inclusion During The Covid-19 Crisis

Dear Corporations,

Now is not the time to take your foot off of the pedal as it relates to investing in CSR (including and particularly making sure that your own staff are taken care of), Diversity, Equity and Inclusion.

Your under-represented populations will suffer disproportionately during this time. While this virus can be fairly indiscriminate as it relates to the pillars of diversity, staff and consumers will remember how they were treated - how they were made to feel. Though perhaps out of sight as many are working from home, the same inequities persist no matter where you may be sitting. As such, once you've worked out your operational kinks and the crisis becomes your new normal, corporate social responsibility and D, E and I should be at the center of your strategy. In countries that are driven by capitalism and that are also devoid of the coordination and logistical competence of central government (the US is firmly leading this charge), private industry must step up and lead. Do not wait to see what others are doing...LEAD NOW. If you want to lead by driving the economy and revenues when things are good - you cannot step away from the actions that will catalyze that charge when in crisis.

You will need your underrepresented groups when this is over so your commitment must remain and in fact...go harder. Given the trajectory of the loss of human life and the already changing demographics of the western world, you may become more reliant on your diverse talent more quickly than you ever imagined. Depending upon the economy and skills gaps that will likely need to be filled - these groups will have choice. You must also re-imagine and begin to repurpose what you previously thought to be sound business models. Look for the opportunities to innovate and ensure the diversity of the teams that are doing the innovation. If you haven't focused on any of these things, when the workforce has the choice, do you honestly believe that they will choose you? You may make short term gains but even in the medium term...your business will die. Maybe slowly and painfully or maybe quickly but sustainability is around having an iterative but sound strategy. What's yours?

CSR and DEI are investments in your business that will pay off in unimaginable ways. These unprecedented times will redefine work and consumerism. It is up to you to decide which side of history you want to be on and what will be left of your business when we emerge from this crisis.