Why is It Important to Have a Diversity and Inclusion Strategy?
Current studies show over 80% of business execs think diversity initiatives are critical to business strategy. Plus, more than 60% expect DEI to become more important in the future. Best practice around diversity and inclusion isnât a one-time fix. It takes continual effort, a solid understanding of each protected characteristic, and an appreciation for intersectionality.Â
More Positive and Happier Work Environments
When staff feel accepted for who they are, and have their differences accommodated, theyâll be more motivated to bring their full capabilities to work. This can result in better results, higher productivity, and happier working environments.Â
Toxic work environments can arise when misunderstandings happen due to a lack of awareness. But when staff feel safe to disclose their differences at work, it can dissolve these barriers. And this can lead to more harmonious and happier working atmospheres.   Â
Increased Productivity and Output
Diversity, Equity, and Inclusion (DEI) is an important strategic area for all organisations. Prioritising DEI leads to significant improvements across the board, with studies showing inclusive teams are over 30% more productive while boosting their decision-making, increasing cash flow per employee, and increasing financial outperformance over competitors.
Improved Employer Branding
A Diversity and Inclusion Strategy is also useful for organisations to showcase their commitment to building respectful, inclusive cultures. This is a vital way to increase employer branding and attract talent whoâs looking to work in a safe and inclusive workspace. Â
Better Creativity and Innovation
Thereâs a direct correlation between higher rates of workplace diversity and better creativity. When teams include people from a variety of backgroundsâwith different viewpoints and experiences to draw fromâit can result in new or revolutionary ideas. And these may lead to competitive advantages.Â