Diversity and Inclusion in the Workplace: benefits and strategies
In the modern business landscape, diversity and inclusion or the more commonly used diversity, equity and inclusion (DEI) are not just buzzwords but becoming essential components of a successful organizational strategy. This goes beyond mere compliance with laws and ethical standards; DEI is about creating a work force that drives engagement, innovation and business performance.
What is diversity, equity and inclusion?
Diversity, equity and inclusion (DEI) is a foundational concept in the modern workplace to foster a healthy, dynamic, and productive work environment.
Diversity is the representation of a wide range of traits and attributes among individuals, including but not limited to race, ethnicity, gender, age, religion, disability, and sexual orientation. It equally encompasses diversity of thought, which includes different perspectives, ideas, and ways of thinking.
Equity refers to the fair treatment, access, opportunity, and advancement for all individuals. For example, it strives to identify and eliminate barriers that prevent full participation of groups with disabilities, special needs, single parents and carers. Equity is also about recognizing and addressing the specific needs and challenges of different individuals and groups to achieve fair outcomes.
Inclusion is the deliberate act of creating an environment where all different kinds of people feel safe to voice their views, thrive and succeed.
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What is an inclusive workplace?
According to the ISO 30415 management system standard, an inclusive workplace requires a strong commitment to diversity and inclusion. This involves addressing inequalities in organizational systems, policies, and practices, as well as people’s conscious and unconscious biases and behaviors. Differences are seen as assets and strengths to be incorporated into decision making.
Benefits of Diversity in the workplace: why it is important
Organizations with a mature DEI culture can achieve a multitude of benefits significantly impacting the performance and sustainability of an organization.
Recent research shows that companies embracing DEI are 70% more likely to capture new markets, 75% more likely to see ideas become productized, and have 19% higher innovation revenues. They also make better decisions 87% of the time and are better at solving complex challenges. Companies with inclusive cultures are twice as likely to meet financial targets, three times as likely to be high-performing, and eight times more likely to achieve better business outcomes. Embracing DEI also helps enhance a company’s brand image, customer loyalty and in the attraction and retention of talent.
Diversity and inclusion: pillars and types
Diversity and inclusion is built on several key pillars to support effective implementation. It starts with leadership commitment and a clear direction incorporated into the business strategy. Execution often starts with awareness initiatives, like training, and targeting hiring practices, but should continue with actions to create a psychologically safe workplace, truly making D&I a core element. Taking a management system approach is a key foundation upon which to build and ensure true implementation and continual improvement.
Diversity and inclusion risk management: main strategies
Many organizations may attempt to introduce Diversity and Inclusion to the workplace in a haphazard fashion because it is “the right thing to do”. A structured approach built on a best-practice standard such as ISO 30415 is a better way since it integrates D&I into the overall business strategy and existing management structures.
The benefit of an international standard is that it is recognized and can be applied across geographical borders. A guidance standard, ISO 30415 helps companies deliver on ongoing commitment to D&I to ensure diversity and address any inequalities in organizational systems, policies, processes and practices.
For companies with a certified ISO management systems already, the approach will be familiar and reaching ISO 30415 compliance easier. Being built on the common harmonized structure shared by all ISO standards, it includes requirements that help companies identify and manage key risks, internally and externally. This goes beyond ensuring legal compliance and helps companies target key areas for improvement that will advance company culture and performance. Also, organizations must be committed to continuously assessing risks and performance to improve their D&I initiatives.
Diversity and inclusion in the workplace: examples
Diversity and inclusion in the workplace can be seen in various forms and practices that organizations implement to foster an environment where every employee can thrive and contribute to their fullest potential.
Managing diversity in the workplace can include offering flexible work schedules, remote work options, and part-time opportunities to accommodate employees' diverse needs and lifestyles. It can also be to expand recruitment efforts to reach a broader range of candidates, including partnerships with diverse professional organizations, attending career fairs at minority-serving institutions, and using inclusive language job postings.
Other practices that can be diversity training programs or establishment of Employee Resource Groups (voluntary, employee-led groups) that provide support, advocacy, and mentorship for employees or offering platforms for employees to share their experiences and insights.
Beyond internal practices, organizations also reflect commitment to diversity and inclusion through their supplier-base, making sure to include small businesses, minority-owned businesses, and women-owned businesses.
In summary, DEI is increasingly seen as essential for business continuity. Research shows that diverse and inclusive companies are likely to outperform those less diverse. A structured approach, guided by standards like ISO 30415, can help any company advance. Companies already having a management system certified to an ISO standard have an advantage, as taking a structured approach to DEI is no different to how companies manage quality and safety. It is all about integrating DEI initiatives into the core business processes.
