February is Black History Month—a special time to highlight the history, contributions, and accomplishments of the Black community, in addition to continued promotion and celebration throughout the year.
For many corporate leaders and professionals, however, it’s also the perfect time to reassess and reinvigorate the commitment to diversity, equity, and inclusion (DEI) initiatives.
But despite the increased attention given to DEI in recent years, many organizations are still trying to figure out what it looks like in practice—and how exactly it can benefit workplace culture and wellbeing. Many leaders have experienced challenges in implementing DEI initiatives that leave a lasting impact, causing some to pull back from these initiatives altogether.In this blog, we’ll cut through these complexities to show leaders why—and how—DEI is critical for organizational success, and how to implement it effectively.
Before we dive into strategies for effective DEI implementation in the workplace, it’s important to understand the intricacies and nuances of each term. All too often, companies devote much of their focus to workplace diversity, hiring individuals from diverse backgrounds and identities—and while that’s incredibly important, it doesn’t cover the “EI” of DEI.
Equity refers to the fair treatment and policies that govern a company and its workforce. In order to be truly equitable, an organization must acknowledge and address the systemic inequalities and injustices that certain employees face, whether due to race, gender, religion, etc. This usually takes the form of establishing practices and written policies to ensure everyone receives fair treatment.
The third component of DEI—and the primary focus of this blog—is “inclusion.” While it’s easy for organizations to implement policies around diversity and equity, governing inclusivity is a little more complicated, as it comes down to the culture an organization fosters, whether intentional or not.
For instance, an organization might be diverse and treat its employees equitably, but the work community itself might not demonstrate inclusive behavior.
DEI is a fundamental part of employee wellbeing and crucial for any organization, but the tangible advantages of workplace diversity and inclusion aren’t always obvious.
As it currently stands, despite the data, discussions, and commitments surrounding DEI, diversity and inclusion efforts have declined slightly over the past year. The pandemic saw a nearly 170% growth in hiring for Chief Diversity and Inclusion Officers, but that rate has since declined to -4.5%—the only C-suite position to see a drop.
Even so, organizations in the top quartile of ethnic diversity representation are still 27% more likely to experience above-average profitability, according to McKinsey. And that’s just one metric of the benefits a diverse team and inclusive culture provides.
To help organizations understand the true advantages of inclusion, let’s take a look at some of the benefits that are harder to measure.
Embracing diversity and fostering inclusivity in the workplace goes beyond policy changes—it’s about creating an environment where every employee is welcomed, valued, and has what they need to thrive.
WellRight’s tailored wellness programs can help employers build that environment through a holistic approach to workplace wellbeing. Our solutions offer practical tools for leaders to implement effective inclusivity initiatives.
Talk to our experts today to find out how a comprehensive wellness program can boost your inclusion efforts.