As I have watched various arguments on this topic, it seems that when the term 'equity' is used, it means equality of outcome. This gets stuck in my mind because it goes flatly against 'equality', in my mind equality of opportunity. Equality of outcome automatically supersedes the tenet of merit, in the case of job performance.
Yes, exactly; and that is precisely why 'equity' is used instead of 'equality'.
It is a very deliberate, very careful replacement. Do not think for a second that it could just be changed to 'equality', so we could agree, because the moment you do, it completely eradicates the underlying intersectionalist/tribalist idea that is the true purpose of why this is being pushed. Try, and you'll be a bigger enemy than even the most racist bigot.
Money is not evil, but the love of money and power often corrupts.
If we had time and space to delve into it really deeply, we'd find out that it is not actually money or power itself, but the ease of applying them, and the temptation of applying them for personal short-term gain and completely ignoring everything else. Most humans do not like to think; they just have to, in order to survive.
This also means that having a very competitive, very power-hungry persons in your executive team, can be a positive thing. You just have to contractually make sure they are the
company's own monsters, and not just monsters that happen to stay with the company for a while. And you must pick ones that can be leaders, instead of accidentally eating your workforce for dinner.
For example, having a diversity policy helps to maximize the pool of candidates when hiring.
This I don't understand. Isn't it more important to get good candidates instead of many candidates?
Or is the idea that as long as you have sufficient numbers of candidates, some of them will do?
I think you are being willfully obtuse here.
No, I can assure you I am not. Yes, I agree that it is crucially important to reach all candidates that would be acceptable for the task, and that's not easy.
If you artificially restrict the size of the pool, it is possible you might have excluded the best choice. For example, suppose some hypothetical conservative company in prior decades were to pre-filter all the resumes and only keep the ones for males under 40 with western sounding names? Don't you think they would have a strong chance of missing out on some really good people?
Don't be silly, of course they would miss out of majority of suitable candidates. My point is, any company that is stupid enough to shoot themselves in the foot, is already dying. You cannot compete in todays global economy and marketplace, if you hobble your own workforce like that; and any company that did something as stupid as that ought to fail rather quickly. You do not need to teach successful executives to not do that, because they already know that it would be a waste of resources; it would be the equivalent of rejecting profit.
Let me throw the question back to you: Do you seriously think any decades-old company is
today pre-filtering resumes to keep only the males under 40 with western sounding names? I do not, exactly because they're learned how business works. If they hadn't, they'd gone under already.
It may have been possible a few decades ago when there was much less competition –– remember, nowadays you compete against every other company on the planet, basically; not just those nearby –– but for sure isn't tenable today, not for long. (It may be possible for a small garage that has a loyal customer base and zero growth and basically zero margin, or something similar, but they will go under whenever someone sensible starts a competing business.)