The Importance of Embracing Diversity, Equity & Inclusion
Embracing Diversity, Equity & Inclusion (DE&I) is not just the right thing to do, it is also an integral component of organizational success. Organizations with diverse workforces have access to broader perspectives, increased innovation, expanded market share, and a wider pool of talent.
As a nation of diverse backgrounds (sex, race, religion, national origin) employees bring different viewpoints, priorities, expertise, and knowledge to the workplace regardless of whether they are regular full-time employees or part of a contingent workforce. Organizations also stand to gain and prosper from the aggregation of these multifaceted attributes. Narrow demographics leads to a narrow point of view, a narrow body of knowledge, and a narrow perspective of how people work.
Simply put, adopting robust DEI programs helps employees show up each day comfortable with being their true selves, not some antiquated prototype of what constituted a good employee according to parochial thinking. This will foster higher degrees of engagement, productivity, and innovation that contribute to an expanding client base and increased revenue. That alone sounds pretty great, doesn’t it?
Looked at more granularly, organizations that put a genuine emphasis on DE&I for both their regular and contingent workforces can expect to:
Get the innovative juices churning
Teams comprised of various backgrounds and work experiences collectively come up with more creative ideas and ways to solve problems. Watch the seed of an idea germinate and grow into a mighty oak of creativity.
Attract candidates (and retain them)
People are naturally drawn to companies that show they value diversity and inclusion. Less diverse environments can also appear hostile for those who feel they don’t fit in. When people feel they matter, and see that their co-workers are cared about, they stay (and they refer others to the organization). It’s a very productive cycle.
Improve employee performance
Ethnically diverse companies are 35% more likely to outperform their peers. It’s a fact that employees are more likely to feel comfortable, happy and confident in themselves in an inclusive environment.
Extend your market
For sure the internet has brought the world closer together, but by fostering a diverse workplace you have more access to a vast array of knowledge. Your organization has an opportunity to effectively market to a larger group of customers, of various racial, ethnic and cultural backgrounds, including those who identify as LGBTQ, or are differently abled.
Capitalize on enhanced financial success
According to a recent Gartner study, highly inclusive organizations generate 2.3x more cash flow per employee, 1.4x more revenue, and are 120% more capable of meeting financial targets. Inclusivity = revenue. Those are definitely performance measures that are hard to ignore.
Elite Personnel has a proven track record of embracing the advantages of DE&I. We can help your business reap the benefits of experience.