WHY DEI IS CRUCIAL TO YOUR ORGANIZATION & BUSINESS 

56%

The millennial and Gen Z generations are the most diverse in history: only 56% of the 87 million millennials in the country are white, as compared to 72% of the 76 million members of the baby boomer generation. (CNN Money)

67%

67% of job seekers consider workplace diversity an important factor when considering employment opportunities, and more than 50% of current employees want their workplace to do more to increase diversity.

78%

78% of employees who responded to a Harvard Business Review (HBR) study said they work at organizations that lack diversity in leadership positions. (Harvard Business Review)

OTHER INSIGHTS ON THE VALUE OF DEI

Larger Hiring Pool

• By not limiting yourself or your organization to a certain type of person, you increase the hiring pool significantly. This gives you the opportunity to have more applicants. More applicants mean you’re more likely to get the right applicant. You should always hire the best person for the job instead of settling for somebody just to fill the position. 

Different Perspectives

• People with different backgrounds and beliefs all bring different perspectives to the workplace. These various perspectives can be very beneficial if cultivated. What do I mean by cultivated? I mean when you as a manager or leader encourage an environment of inclusion and encourage others to share their perspectives, these perspectives will help you see many ideas and solutions you didn’t even think of. The important part is making everybody feel like it’s ok to have their own views and opinions. 

Improves Productivity

• Increased productivity is a byproduct of hiring better people and having multiple perspectives leading to more ideas and solutions to problems. More productivity within an organization leads to higher profits. More profits are the goal of pretty much every organization. 

Increased Creativity

• Like increased productivity, increased creativity is one of the amazing byproducts of having different perspectives. Various employees can come up with some crazy ideas that work. Without diversity, you would have never thought of these additional ideas. These additional ideas and solutions to problems lead to more efficiency and increased profits.

Better Employee Performance

• Having an environment of inclusion and acceptance will lead to happier employees. Why are these employees happier? They feel more comfortable being themselves. They feel like it’s ok to be themselves. Happy employees are more productive and more willing to share ideas. You can’t change everybody’s mind on inclusion and acceptance but it starts with you as the leader. 

Reduced Employee Turnover

• Happy employees are way less likely to leave the company even if they can find a higher paying job. Reduced employee turnover leaves you with more experienced employees. Experienced employees are a lot more productive and efficient than new employees. The more experience you can keep within an organization the stronger it will be.

Improved Organizational Image

• Although I don’t think you should foster an environment of diversity and inclusion just to look good, you should be doing it because it’s the right thing to do. It does have a positive impact on an organization’s image to welcome diversity in the workplace. Especially in the age of globalization, where business is conducted with many different countries. It can send a friendly message having many different types of people in various positions throughout the company.

Increases Individual Insights

• Not only does a diverse workplace benefit the company, but it also benefits society. Many relationships are built in the workplace. If the workplace is diverse and fosters an environment of inclusion these friendships will be with people that different than themselves. This environment will make everybody within the environment a lot more aware of different cultures and other differences. It shows everybody that being different isn’t a bad thing.

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*Sources: Growth Tactics / Bonusly