DEI strategies are increasingly critical to business performance
Diversity, equity and inclusion are just as good for business as they are for individual employees, and they’re much more than mere buzzwords. When DEI is at the heart of workplace culture, the benefits are seen in every facet of the organization.
It’s easier to attract, nourish and retain employees who, in turn, have higher degrees of productivity and innovation that directly contribute to increased revenue. Moreover, an effective DEI strategy extends to a company’s brand identity, which speaks volumes to customers, prospects, partners and investors.
Activate the benefits of
a diverse workforce
with inclusive leadership
Here’s what the research shows:
Corporations identified as more diverse and inclusive are 35% more likely to outperform their competitors. (McKinsey)
Diverse companies are 70% more likely to capture new markets. (HBR)
Diverse teams are 87% better at making decisions. (People Management)
Businesses with an inclusive culture were twice as likely to meet or exceed their financial targets, three times more likely to be high-performing, six times more likely to be innovative and agile and eight times more likely to achieve better business outcomes. (Deloitte)
Diverse management teams lead to 19% higher revenue. (BCG)
More than 3 out of 4 job seekers and employees (76%) report that a diverse workforce is an important factor when evaluating companies and job offers. (Glassdoor)
74% of millennial employees believe their organization is more innovative when it has a culture of inclusion, and 47% actively look for diversity and inclusion when sizing up potential employers. (Deloitte)
78% of employees who responded to a Harvard Business Review study said they work at organizations that lack diversity in leadership positions. (HBR)
Inclusive companies are 1.7 times more likely to be innovative. (Josh Bersin)
Equitable organizations that encourage open communication about DEI are more likely to have happy, engaged employees, appeal to young workers and retain diverse talent. (Kenan Insight)
Millennials are 83% more likely to be engaged at work at inclusive companies. (Deloitte)
Corporations identified as more
diverse and inclusive are:
More likely to outperform their competitors
More likely to capture new markets
Better at making decisions
How we teach about
Diversity, Equity and Inclusion
DEI is an acronym that stands for diversity, equity and inclusion. While the terms diversity, equity, inclusion and belonging are often used interchangeably, there are distinct differences among them.
- Diversity is the presence of differences within a given environment.
- Equity is the process of ensuring that fair treatment, access and opportunity exist for all people despite their individual identities.
- Inclusion is the practice of ensuring that all voices within a diverse team of people are valued and utilized.
- And there’s also Belonging, which is the state of feeling heard and valued. Employees feel a sense of belonging when they believe they are wholly accepted for who they truly are.
It starts at the top
Leaders set the tone and champion company-wide initiatives, and it’s essential to position DEI as an indispensable part of an organization’s goals. Leadership must take a definitive stance and demonstrate that diversity, equity, inclusion and belonging are top priorities.
With all the positive business outcomes for diverse and inclusive teams and organizations, why wouldn’t leadership make this a priority?