Workplace Diversity has become a necessity over the years and companies are realising its impact on their business as well on the employees.
We are all aware that the social and racial injustice still prevails in our society. We all play a vital role in creating a fairer world around us and the organisations in particular have a bigger role. Unlike before, it has not just stayed in the company policy documents or merely as a banner that organisations exhibit to show their commitment to embracing differences; with time, more and more companies have been implementing various measures towards creating a diverse work culture.
If you have been working in a corporate set-up, you would have definitely heard of DE&I initiatives. DE&I refers to Diversity, Equity and Inclusion – the three core values that many organisations today strive to exemplify to meet the needs of people from all walks of life including different races, ethnicities, religions, abilities, genders and sexual orientations.
As studies have proven repeatedly, diversity among race, ethnicity, ability, gender, sexual orientation, neurodiversity, and beyond can help to strengthen organisations. Diversity is nothing but an act of welcoming people from different backgrounds and promoting a diverse talent pool.
An extension of diversity is equity, or ensuring all people within an organisation have equal opportunities. It also focuses on preventing all forms of discrimination, bias and harassment. The terms Equity and Equality are often used interchangeably but they do have a difference. Equality is equal distribution of resources and opportunities irrespective of the gender – The state of being equal in rights and opportunities. Equity on the other hand is distribution of resources and opportunities considering the inidivdual’s circumstances. It is helping the employees to reaching their highest potential by making the playing field fair. It is worth citing an example that would make it clear – If you lend Rs. 100 to a rich person and a poor person, it would be Equality. However, if you lend Rs. 100 to a rich person and Rs. 200 to a poor person that would be Equity. Both Equity and Equality are necessary and no companies can say they are embracing equity or being diverse and inclusive without considering both equality and equity elements.
When we discuss DE&I initiatives we need to consider the term ‘inclusion’ as well. An inclusive culture ensures a sense of belongingness among the employees. Leaders in an organisation can achieve inclusiveness through a strategy that focuses on creating a company culture of acceptance, civility, and respect. Inclusiveness also stems from an organisation’s ability to provide employees with the support they need for career development and to reach their full potential.
Every company has a unique strategy for DE&I but creating and implementing these initiatives cannot happen overnight. It is an ongoing process and needs lot of efforts. The company top management, hiring managers, senior leaders, and HR departments need to work in tandem in order to reap the benefits of having a diverse culture. As per Forbes, you can start making a DE&I strategy by setting aspirational goals. Try to establish objectives that are measurable and align with the DE&I goals of your organisation. You might aim to hire a certain number of employees in a historically underrepresented ethnic group or strive to have a certain number of employees participate in outcome-driven DEI training sessions. HR professionals can contribute to DE&I initiatives by researching the latest DE&I practices in the industries and proposing appropriate solutions, advocating for all employees, managing budgets for DE&I initiatives appropriately and maintaining a fair and unbiased hiring process.
Companies are also encouraged to have a Supplier Diversity policy. Through this policy, the companies recognise that small business enterprises and businesses owned and operated by members of diverse and disadvantaged groups contribute significantly to the overall economic strength of the country, the markets they operate and the communities in which they live and work. At the same time, the use of diverse suppliers helps to deliver to customers the highest quality services at the best price.
Promoting diversity, equity, and inclusion encourages all employees to contribute effectively to their company’s success. Employees also tend to trust their teams and feel comfortable addressing concerns with supervisors. Companies that are diverse, equitable, and inclusive are better able to respond to challenges and meet the needs of different customer bases. If you work for one such company that gives high prominence to diversity, equity and inclusion, then you may be in the right place.