Former Levi Strauss senior marketing executive Jennifer Sey explains why some big American companies are pulling back on DEI practices on ‘The Big Money Show.’
Heavy equipment maker Caterpillar is making changes after reviewing its diversity, equity and inclusion (DEI) policies amid mounting scrutiny of such initiatives at corporations around the country.
A memo sent by Caterpillar executives to the company’s employees that was reviewed by FOX Business explained that the DEI changes include requiring that all corporate training be oriented to focus on business operations, as well as requiring approval from senior leaders for bringing in external speakers or participating in external surveys and awards.
The changes come as anti-DEI activist Robby Starbuck said he had been in discussions with the company about his plans to “expose their woke policies” which resulted in the preemptive changes, which he outlined in a social media post.
Caterpillar said in the memo that going forward, “All training, both formal and informal, must be focused on our business and designed to foster high performance and execution of our enterprise strategy.”
MOLSON COORS SCRAPS ‘WOKE’ DEI POLICIES IN GROWING TREND AMONG US COMPANIES
Caterpillar informed employees it was making changes to its diversity, equity and inclusion policies. (Luke Sharrett/Bloomberg via Getty Images / Getty Images)
The company explained the policy change regarding participation in external surveys and award processes, noting that most “require extensive company resources, including employee time.”
“The decision to participate in a survey or apply for an award must be focused on our business objectives and approved in writing by the responsible Senior Vice President, Group President and Chief Human Resources Officer,” Caterpillar leaders wrote.
Similar requirements will be in place for bringing in an external speaker to talk to Caterpillar employees, as the company will now require approval from senior vice presidents who are “responsible for ensuring that speakers are properly vetted and the content aligns to our enterprise strategy and purpose.”
STATE TREASURERS TO BUSINESS ROUNDTABLE: FOCUS ON SHAREHOLDERS NOT WOKE ACTIVISM
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CAT | CATERPILLAR INC. | 368.82 | -4.49 | -1.20% |
Caterpillar is also planning to issue new guidelines for its Employee Resource Groups (ERGs). The company’s website lists a variety of ERGs available to its employees who share similar life experiences or interests, including ERGs for employees based on racial and ethnic background; gender identity and sexual orientation; disability; veteran status; healthy living and physical activity; as well as for younger workers and experienced professionals.
“Our ERGs exist to foster an inclusive culture through internal networking, mentoring and development opportunities in support of our enterprise strategy,” Caterpillar wrote. “To ensure this focus, new ERG guidelines will soon…
Read More: Caterpillar makes policy changes in yet another corporate DEI rollback