If you need another reason to shop at Costco, here it is.
Recently Costco’s board of directors stood its ground and unanimously recommended that its shareholders vote against a proposal from a conservative think tank in the U.S. that would require Costco evaluate and issue a report on the financial risks of maintaining its diversity and inclusion goals.
The board was quick to note the think tank’s broader agenda is not reducing risk for the Company but abolition of diversity initiatives.
The board noted in their proxy statement that they believe their commitment to an enterprise rooted in respect and inclusion is appropriate and necessary.
I’m often asked for DEI success stories and Costco inadvertently delivers theirs in explaining their position:
Our success at Costco Wholesale has been built on service to our critical stakeholders: employees, members, and suppliers. Our efforts around diversity, equity and inclusion follow our code of ethics:
For our employees, these efforts are built around inclusion – having all of our employees feel valued and respected. Our efforts at diversity, equity and inclusion remind and reinforce with everyone at our Company the importance of creating opportunities for all. We believe that these efforts enhance our capacity to attract and retain employees who will help our business succeed. This capacity is critical because we owe our success to our now over 300,000 employees around the globe.
We welcome members from all walks of life and backgrounds. As our membership diversifies, we believe that serving it with a diverse group of employees enhances satisfaction. Among other things, a diverse group of employees helps bring originality and creativity to our merchandise offerings, promoting the “treasure hunt” that our customers value. That group also helps to provide insights into the tastes and preferences of our members. And we believe (and member feedback shows) that many of our members like to see themselves reflected in the people in our warehouses with whom they interact.
Then came the push back. A recent article in Bloomberg said it all, “Boycott Costco for its DEI Efforts? Good Luck with That”.
Costco maintained its position and initiatives, noting its DEI efforts help the company attract and retain a wide range of employees and improve merchandise and services in stores. They went on to note its members want to interact with a diverse employee base – I feel seen!
Costco is not the only global company pushing back against conservative proposals to drop DEI programs, Apple has been in the news this week for the same stance as the Costco board of directors. In their proxy statement Apple’s board of directors said:
Apple is an equal opportunity employer and does not discriminate in recruiting, hiring, training or promoting on any basis protected by law.
I have been going to Costco for (gulp) decades as a single person and now as a family of four. Pretty much everything we need comes from Costco – including enough fruit and veg to open a farm stall at the end of our road. For the few friends we have that don’t shop at Costco, I’m quick to tell them what an incredible employer they are – and did you know what they’re doing to promote organic farming? They sell more organic produce than Whole Foods!
I’m thankful (and relieved) to see Costco standing up for its values. I find it encouraging to see a global company clearly articulating the benefits of their DEI initiatives to employees and members. Now all I need is that elusive Kirkland sweatshirt.
Elisabeth Cooke
CEO, Dignii Technologies, Inc
[email protected]
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