(ConservativeInsider.org) – The phrase “affirmative action” first crept into American rhetoric in 1961, when President John Kennedy created the Committee on Equal Employment Opportunity. From there, it spread until universities used the words to increase the number of minority admissions at colleges. Now, it seems affirmative action is being used at one multinational investment firm at the expense of white men.
State Street Global Advisors is a Boston-based investment firm with a new rule when it comes to hiring. Executives must show proof they made a panel of at least five candidates including a female and a minority. According to State Street’s head of inclusion, diversity, and corporate citizenship Jess McNicholas, this practice will put diversity “front and central” for every senior executive.
By 2023, the firm hopes to triple the number of minorities in senior positions, and employees who fail to meet that aspiration may have smaller bonus checks for lack of diversity.
Newsmax shared its take on the policy on Twitter:
REPORT: State Street Global Advisors, a multinational investment firm based in Boston, will now require managers to ask permission before hiring white men, according to its new diversity hiring program. https://t.co/tgBWYq6uTA pic.twitter.com/WWv4oUu8rq
— Newsmax (@newsmax) November 9, 2021
Many have called State Street out for limiting the number of white men managers can interview for positions through this new policy. At the same time, the firm provided a statement to The Telegraph emphasizing “hiring managers are not required to gain approval for hiring a person of any specific background or characteristics,” and the entire process is “well-informed and unbiased.”
However, Americans must wait and see if that is true as it could easily create a culture of division and start a new slippery slope between affirmative action and racism.
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