Dive Brief:
- JPMorgan Chase has changed the name of its diversity program from DEI to “DOI,” trading equity for “opportunity,” according to a memo viewed by HR Dive.
- Some programs are now housed under other parts of the business, such as HR or corporate responsibility, the firm said in a memo obtained by HR Dive sister site ESG Dive on Monday. Training will also be reduced.
- Employee resource groups at the company will continue to focus on “engagement, cultural celebrations, education and historical observances, and be available for all,” COO Jenn Piepszak said in the memo.
Dive Insight:
“The ‘e’ always meant equal opportunity to us, not equal outcomes,” Piepszak wrote in the memo. “[W]e believe this more accurately reflects our ongoing approach to reach the most customers and clients to grow our business, create an inclusive workplace for our employees and increase access to opportunities.”
JPMorgan’s programming recently drew heat from anti-DEI activists; at the World Economic Forum in January, CEO Jamie Dimon seemingly recommitted to the firm’s initiatives, saying “bring them on.”.
This latest update is on par with what experts, both in the talent and legal sectors, recommend for companies in today’s current political climate.
Even before the president took aim at DEI in executive orders, experts had warned that 2025 would be the year that DEI programs would have to be re-defined.
At the top of the year, in the busy week following the inauguration and subsequent executive orders, SHRM told employers to exercise caution but not totally abandon DEI.
JPMorgan’s program shifts are also in keeping with the data: Per Littler, 53% of C-suite leaders said they will decrease DEI commitments in 2025. This metric jumped 15 percentage points from pre-inauguration polling.
Nodding to President Donald Trump’s executive order and fallout therein, Piepszak said the bank has always been “committed to hiring, compensation and promotion that are merit-based” and added that it does “not have illegal quotas or pay incentives.”
The memo also said JPMorgan “would never turn someone away because of their political or religious beliefs.” Along with “unlawful” DEI, anti-Christian bias has been a priority of the Trump administration.
“We’re not perfect, but we take pride in constantly challenging ourselves and raising the bar, and we always welcome feedback on ways we can be better,” Piepszak said.
