This is the moment
There has been a lot of talk about the importance of diversity, equity and inclusion. It has finally risen to the top of the corporate agenda. But while talk ignites passion, it's action that drives change.
DE&I - Diversity is the “mix”. It encompasses the full range of human differences and similarities, including physical, cognitive, relational, occupational, societal and value related.
DE&I - Equity is about recognizing that not everyone has equal access to opportunities, career advancement, support and reward. It attempts to redress the balance by treating people differently according to their needs.
DE&I - Inclusion is about making the mix work and unlocking the power of diversity. It can be both behavioral (inclusive mindsets, skillsets and relationships) and structural (equitable and transparent structures and practices).
DE&I is important because organizations are facing increasingly complex challenges. Challenges like how to embrace technology in an ethical way, how to transform and innovate at speed, and how to meet customer, employee and investor demands to become more sustainable.
Diversity, equity and inclusion unlocks the power of all your talent, enabling them to work together to solve these complex issues. Research proves time and again that diverse and inclusive teams are more innovative, make better decisions and outperform their peers.
Companies tend to fail at diversity, equity and inclusion efforts for three main reasons:
To design and build a truly inclusive organization, companies need to develop DE&I strategies that are grounded in talent and business priorities, based on data and analytics and are implemented by inclusive and accountable leaders.
The business impact of improving diversity, equity and inclusion is better performance of teams, individuals and organizations. DE&I organizations are: