Data-Makers study, in partnership with CDN, heard what CEOs and CMOs think about diversity, equity and inclusion
Data-Makers, in partnership with CDN, launched the second edition of the DE&I and Business Leaders study in which 100 Brazilian CEOs, CMOs and other C-Level executives from different segments reveal what they think and how their companies move in relation to diversity, equity and inclusion practices.
According to the survey, almost a quarter of executives said they had advanced knowledge about DE&I, representing a 33% increase compared to last year. 57% of leaders said the topic is extremely important for business, compared to 55% in 2023.
Furthermore, three out of ten executives believe that there will be an increase in resources available for DE&I initiatives in the next 12 months, a 2% increase compared to 2023. Twice as many respondents, 60%, believe that the resources will remain the same, compared to 51% last year.
Theme saturation
According to the survey, business leaders continue to believe that the DE&I topic is underestimated, but this perception has decreased year after year with the assessment decreasing by 19%, compared to 2023.
However, the perception that the topic is overrated increased considerably, rising from 14% to 23%, indicating a possible saturation of the agenda. Another important fact is that business leaders began to evaluate their companies’ DE&I performance more positively. More than a quarter described their actions in the area as excellent, a 37% increase compared to last year.
Barriers to the adoption of DE&I practices
According to the survey, the difficulty in hiring qualified professionals (45%) and the lack of prioritization (34%) remain the main barriers to the adoption of DE&I practices. As in 2023, executives recognized “contribution to society” as the main incentive, with 64% of mentions and “attracting and retaining talent” was mentioned by 57% of respondents, rising three positions, from fifth to second main attribute.
Advancement in decision-making structure
The study also suggests a slight change in the decision-making structure of companies regarding DE&I. In this regard, CEOs continue to be the main decision-makers, with an increase from 35% to 39%, which can be interpreted as a lack of specialists in companies.
On the other hand, although still in the minority, more sophisticated decision-making structures related to diversity, equity and inclusion have increased compared to last year. Interdisciplinary committees and DE&I areas grew four and three percentage points respectively.
“The study shines a yellow light on the evolution of DE&I in Brazil, since we see discreet growth in key indicators such as the declared importance of the topic, investment expectations and evolution of the decision-making structure. At the same time, there is evidence of saturation of the topic, which competes with other priority issues on the executives’ agenda”, says Fabrício Fudissaku, CEO of Data-Makers.
CMOs’ View
Data-Makers also released the second study in the Data-Marketing Leaders series, to be presented to the market in 2024. Called “DE&I and Marketing Leaders”, the survey included the participation of 106 CMOs from different areas. 79% of respondents rated the topic as “important or very important”, but only 21% said they had in-depth knowledge on the subject.
According to the survey, just over a third (36%) rated advertising content on diversity, equity and inclusion positively. The majority described the performance of their communications in this regard as reasonable. When promoting inclusive advertising, the main friction points reported by executives are: stereotypical views on diversity (65%), accusations of greenwashing (34%) and consumer acceptance (31%).
Although a quarter of CMOs project an increase in their area’s contributions to promote DE&I (24%), the trend is towards stagnation, since almost half (48%) indicate an investment at the same level. In contrast, only 5% indicate a reduction in funding to support the topic. There is still a lot of uncertainty about this horizon, since 24% said they still do not know the level of this resource projection.
“On the one hand, it is encouraging to know that almost 80% of CMOs consider the topic important or very important, but on the other hand, there is a strong warning sign with the low level of in-depth knowledge on the subject, and with the investments in the area. To ensure more diversity and inclusion, concrete actions are essential”, says Otavio Dias, CEO of Repense, an agency that has a partnership with Data-Makers for the Data-Marketing Leaders series.
(Credit: Photo by Scott Graham on Unsplash)
