75% of firms see diversity and inclusion as a major priority, according to PwC’s multi-year, cross-industry Global Diversity & Inclusion Survey.
This October marks Global Diversity Awareness Month, a period of celebration and appreciation of the diversity of cultures, backgrounds, experiences, viewpoints, skills, and values that individuals offer. It is an opportunity to acknowledge the richness and strength that comes with embracing and celebrating differences.
What Role Does Diversity Play in the Workplace?
Promotes diversity, equality, and acceptance
The concept of Diversity, Equity and Inclusion (DEI) has become increasingly prominent in recent years, with many businesses committing to its adoption. What implications have these pledges had on their respective organisations, and what is driving them to make such changes?
What This Means Is a More Robust Partnership.
Diversity, Equity, and Inclusion (DEI) promote collaboration and understanding in the workplace. While it is natural for conflict to arise when people come from the same backgrounds, it is through embracing our differences that we can form strong professional relationships. By appreciating each other’s diversity, we are able to work together more effectively.
Acknowledging the range of individual approaches to working enables companies to rethink their existing practices and generate innovative ideas to accommodate all employees. This has enabled them to cultivate an environment that is more robust, diverse and inclusive.
Workloads Lighten and Output Rises
Maximizing output is best achieved through diversity. Having a diverse team creates an environment where creativity and a range of expertise can be utilized to effectively run a business. By recruiting a diverse group of people, each individual brings their individual skills and unique perspectives, which can lead to innovative solutions and improved productivity.
As an added bonus, research shows that teams with more demographic diversity perform better overall.
The Results Are Higher-Quality Goods and Services.
Have you heard that research has indicated that companies with executive teams that include members from a variety of cultural and ethnic backgrounds are 33% more likely to achieve “industry-leading” profitability?
Having a diverse workforce can bring many benefits to a company. By bringing together people from a variety of backgrounds, teams can generate unique ideas, foster productive conversations and ultimately create higher-quality goods and services. This can lead to higher profits for the business.
It Means a Higher Chance of Attracting and Keeping the Best Employees.
It is widely acknowledged that customers prefer to work with organizations that demonstrate an appreciation of diversity. Companies without a diverse workforce may find it difficult to recruit and retain talented employees.
Glassdoor recently revealed that 32% of employees and jobseekers would not put in an application for a job at a company without a diverse workforce. The unemployment rate for people from ethnic minorities and the LGBTQ community is higher than that of their white and non-LGBTQ counterparts.
Meanwhile, over 75 percent of workers and job-seekers alike value diversity in the workplace.
The Public’s Opinion of You Will Rise as a Result.
Maintaining a good name is essential. Talented people will want to work for you. Additionally, it will pique the interest of customers and end-users.
Having a diverse group of people working for your business can help to build your brand and reputation. Showing that you value your customers, staff, and other members of the community will demonstrate that your business is dedicated to making a positive impact. This will resonate with those around you and will attract more people who share the same values.
The Question Is How to Diversify the Workforce.
It is essential that senior management demonstrate their commitment to diversity, equity, and inclusion (DEI) initiatives in order to ensure their success. Leaders must be active participants in the process, rather than passive observers, in order to create a more diverse and inclusive workplace. Without their support, the desired outcomes will not be achievable.
It is essential for these individuals to take the initiative and take responsibility for starting conversations. They have the potential to drive positive change. Additionally, it is important to remember that leaders have the capability to provide financial backing for diversity initiatives.
2. Be Open and Honest
Transparency is crucial in every company. Diversity and inclusion (DEI) are one area of the company that must have it.
Organizational leaders have a responsibility to their employees and stakeholders to maintain an open and frequent dialogue regarding their progress. To create a truly inclusive environment, companies should be willing to offer both quantitative and qualitative insight into their progress.
3. Form ERGs and Affinities Among Workers.
Employee Resource Groups (ERGs) and Affinity Groups provide employees with the opportunity to connect with one another, learn from peers, and benefit from a range of additional advantages. Establishing communities of individuals who share values and experiences is an effective method of helping those from marginalized backgrounds to prosper in the organization. Moreover, members of these groups are able to take the initiative on projects and make suggestions for changes to the company in order to encourage diversity and inclusion.
4. Examine Your Methods of Hiring and Advancing Employees
The proliferation of digital tools and technology has enabled us to access a wealth of data which could potentially uncover any unconscious prejudice that may be influencing our hiring and promotion decisions. Even if unintentional, it is important that we take the necessary steps to ensure our recruitment practices are free from any form of unconscious bias.
Use this information to facilitate conversations and implement meaningful changes to the recruitment processes at your organisation.
5. Integrate Diversity and Inclusion (D&I) into Every Aspect of Your Company
Creating a diverse and inclusive workplace is not something that can be achieved as a single, one-off effort. It requires sustained commitment from all areas of the business, from recruitment and day-to-day operations to progression opportunities. To ensure that diversity and inclusion is properly embedded in the company’s culture, it must be institutionalized throughout the organization.
It is essential that all members of the organization contribute to the ongoing implementation of diversity initiatives. This is not a task that can be completed in a single effort; instead, it requires a persistent, collective effort.
Diversity Awareness Month Lasts All Year Round!
At Works, we understand that a diverse workforce is essential to ensure a productive workplace. We acknowledge that, like many other organizations and people, there is always room for improvement. As such, we are committed to making our company more diverse, not just in October, but throughout the year. We strongly encourage all other organizations to do the same.