Why Having a Diversity & Inclusion Plan Matters
This week, exercise company Peleton received harsh backlash for their new holiday ad. In the video, a husband gives his wife a Peleton bike for Christmas. The wife records herself using it every day for a year then creates a “thank you” compilation for the husband, saying “A year ago, I didn’t realize how much this would change me.” Many people are calling out Peleton for including themes of privilege, sexism and a lack of diversity.
Peleton released this statement in response to the criticism: “While we’re disappointed in how some have misinterpreted this commercial, we are encouraged by–and grateful for–the outpouring of support we’ve received from those who understand what we were trying to communicate.” As one Peleton bike retails at $2,245 and the live-streamed and on-demand classes cost users $39 a month, many people feel that Peleton is disconnected from the average consumer as well as ignorant on how to handle sensitive topics.
The entire incident cost Peleton over $1 billion and caused a 10.5% drop in their stock. Situations like this reinforce the growing need for organizations to address their diversity and inclusion practices. Had they been educated on these practices, Peleton may have thought twice before releasing this commercial or considered a different response post-incident, potentially saving them billions of dollars.
At Exude, we help organizations understand their role in creating an environment of mutual respect and recognizing unconscious bias. We begin this process with an assessment, followed by the design and implementation of a strategic diversity and inclusion plan. We also provide the necessary tools for handling future incidents if they occur. For more information on how we can help your organization, contact Exude today.