Take these key steps towards business success.
Diversity, Equity and Inclusion (DEI) are more than buzzwords or the latest trend to help a business’s bottom line. They’re fundamental building blocks to ensure employee satisfaction, recruitment and retention initiatives, innovation and a company’s overall success.
It’s time for business leaders to stop talking about DEI and start putting it in motion.
What is Diversity, Equity and Inclusion?
Diversity refers to the variety of people who make up a group or organization. This includes differences in race, ethnicity, gender, sexual orientation, age, disability and other factors.
Equity entails the fair and unbiased distribution of resources and opportunities, ensuring that everyone has an equal opportunity to thrive, irrespective of their background. Inclusion involves fostering an accepting and supportive environment where every individual feels valued, respected and recognized for their contributions.
Benefits of DEI
By embracing DEI, companies can tap into a wealth of advantages that extend beyond the moral imperative. There are tangible benefits that arise from cultivating a diverse workforce and fostering an inclusive environment. Some of these key benefits include:
Increased employee satisfaction: Employees who feel like they belong and that their contributions are valued are more likely to be satisfied with their jobs.
Improved recruitment and retention: A diverse, equitable and inclusive workplace is more attractive to potential employees. This can lead to a better pool of candidates and a lower turnover rate. According to a Glassdoor survey, three out of four job seekers and employees (76%) report that a diverse workforce is an important factor when evaluating companies and job offers.
Enhanced innovation: A diverse workforce brings a variety of perspectives and experiences to the table. This can lead to new ideas and solutions that wouldn’t have been possible with a less diverse workforce.
Avoiding groupthink and blind spots: When everyone has the same background and experiences, it can be easy to make assumptions and overlook important information that can affect business operations, sales and even a company’s reputation. A diverse workforce can help to ensure that all perspectives are considered and that the best decisions are made.
Increased customer satisfaction: Having people from all backgrounds helps to serve a diverse consumer pool better. Understanding how to market to and serve different groups of people can lead to increased customer satisfaction and loyalty.
How to achieve Diversity, Equity and Inclusion
Creating a truly diverse, equitable and inclusive workplace requires intentional effort and commitment from businesses. By proactively addressing biases, implementing inclusive policies and practices, and fostering a culture of belonging, companies can pave the way for a more equitable future.
This section will delve into practical strategies and examples of actionable steps businesses can take to achieve DEI in the workplace, reaping the rewards of a truly diverse workforce.
Some of the key steps include:
Create a culture of inclusion: This means creating an environment where everyone feels valued and respected, regardless of their background. This can be done by providing training and education on DEI, and by creating policies and procedures that support a diverse and inclusive workplace.
One way my company was able to achieve this was by empowering our employees to decide what they value most to establish the core values we now operate by. We reinforce them internally and promote them on social media to help attract like-minded job seekers.
Provide training and education: Unconscious bias training can help employees to identify and overcome their biases. It can also help employees to understand the importance of DEI and how they can contribute to a more inclusive workplace.
Everyone has their own strengths and weaknesses. Fostering an environment where team members are comfortable with each other and can speak helps employees learn to maximize one another’s strengths.
Implement diverse hiring practices: This means making sure that all qualified candidates are considered for jobs, regardless of their race, ethnicity, gender, sexual orientation, age, religion or other factors.
Measure your progress: It’s important to track your progress toward diversity, equity, and inclusion. Employee experience or engagement surveys offer valuable metrics for organizations to measure inclusion in the workplace. By leveraging these surveys, businesses can identify areas for improvement and foster a more inclusive environment.
Set clear DEI goals and objectives: Having clear goals and objectives will help you to stay focused on your DEI efforts.
Conclusion
Fostering diversity, equity and inclusion in the workplace is paramount for achieving business success. It creates a positive environment that boosts employee satisfaction, attracts top talent and stimulates innovation. By embracing these principles, companies position themselves strategically and ethically, paving the way for a more inclusive and prosperous future in an interconnected world.
Furthermore, prioritizing DEI cultivates strong customer relationships. Customers are increasingly drawn to businesses that align with their values, making it essential for organizations to reflect the diverse communities they serve. By creating an inclusive environment, companies can enhance customer satisfaction, foster loyalty and gain a competitive edge in today’s dynamic marketplace. Ultimately, embracing diversity and inclusion is not only the right choice but a strategic imperative for long-term growth and success.
Jay Suefuji, CEO of Septeni Global, is one of the top mobile app marketing experts for the Japan market, regularly advising and working closely with top-grossing mobile app companies for their Japan expansions. As the founding executive of Septeni’s global business division, he established Septeni’s overseas office in San Francisco in 2012, then quickly expanded its reach to Korea, China, Southeast Asia, as well as Europe. He currently serves on the board of Septeni Holdings (parent company of Septeni Global) as well as its subsidiaries in various parts of Asia.
