Companies that embrace diversity and inclusion in all aspects of their business statistically outperform their peers.– Josh Bersin
Workplace diversity is understanding, accepting, and valuing differences between people including those:
Interestingly, research by Deloitte finds that diversity is perceived differently by generations. Millennials view workplace diversity as the combining of different backgrounds, experiences, and perspectives, and they believe taking advantage of these differences is what leads to innovation.
Gen Xers and Boomers, on the other hand, view workplace diversity as equal and fair representation regardless of demographics without necessarily considering diversity’s relationship with business results.
Inclusion is a collaborative, supportive, and respectful environment that increases the participation and contribution of all employees.
Diversity and inclusion is a company’s mission, strategies, and practices to support a diverse workplace and leverage the effects of diversity to achieve a competitive business advantage.
A survey by Forbes Insights of more than 300 senior executives – 32% who were in HR or talent management – found their companies’ diversity and inclusion priorities include:
65% of senior executives believe the responsibility for implementing diversity and inclusion programs falls on HR, while 45% say it’s the responsibility of senior leaders within a business unit or division.
56% of the companies surveyed strongly agree that diversity helps drive innovation. It’s clear that they believe this innovation advantage is achieved through their ability to attract and recruit diverse talent.
A survey of 330 HR executives by Professor Roberson found that diversity and inclusion best practices include:
The interesting thing to note is that employees perceive their company as diverse and inclusive based on practices that aren’t even directly related to diversity such as a focus on innovation and creativity.
Instead, these best practices are ones that are desired by everyone in the workplace.
Some of the key strategies of Bersin by Deloitte’s diversity and Inclusion framework include:
Diversity and Inclusion is a top-to-bottom business strategy – not just an HR program.– Josh Bersin
The Forbes Insights survey found that 60% of companies have metrics in place to measure the success of their diversity and inclusion efforts.
If we couldn’t measure the impact of our diversity and inclusion efforts and programs, it would be a hard sell among company executives.
– Huey Wilson, SVP HR & Diversity Board Member, Mattel
The most popular success metrics success are:
Senior executives are being held accountable for their diversity and inclusion programs performance through:
Workplace diversity and inclusion are top of mind these days and will only grow in importance as companies continue to invest in their diversity and inclusion programs.
If you’re able to implement at least a few of the best practices and strategies outlined here, you’ll be giving yourself one of today’s biggest competitive advantages.