Diversity, equity and inclusion have been at the top of many company's commitment lists. You may have heard your organization talk about diversity initiatives, you may have seen them act on these promises, or you (or your department) may have spearheaded one of these initiatives. Either way, diversity, equity and inclusion are gaining momentum - and these statistics prove it!
48% OF GENERATION Z ARE RACIAL/ETHNIC MINORITIES¹.
Gen Z refers to the group born after millennials, essentially anyone born between 1998 and 2012. This generation is already the most racially and ethnically diverse generation - with non-Hispanic white being the majority by a slim margin at 52%.
ON AVERAGE, WOMEN MAKE 82% OF WHAT MEN MAKE².
The Bureau of Labor Statistics found that women working full-time had median weekly wage earnings that were 82% of men working full-time. This number had grown in the ’80s and ’90s, but since 2004 the ratio has stayed at 80-83%.
8% OF FORTUNE 500 CEOS ARE WOMEN³.
In 2021, 41 women held chief executive officer positions in Fortune 500 companies. This is the highest it has ever been.
75% OF EMPLOYEES BELIEVE THAT MORE DIVERSITY IS NEEDED IN THEIR ORGANIZATION⁴.
According to a report by Quantum Workplace, employees want to see more diversity in areas such as:
Ways of Thinking
Body Size or Shape
FOR EVERY 100 MEN PROMOTED TO MANAGEMENT POSITIONS, ONLY 86 WOMEN ARE PROMOTED⁵.
Although representation has increased over the years, women are still significantly outnumbered in managerial positions.
MILLENNIALS SHOW HIGHER LEVELS OF ENGAGEMENT AT WORK WHEN THERE IS AN INCLUSIVE COMPANY CULTURE⁶.
83% of millennials are actively engaged at work when their organization prioritizes inclusion.
ALMOST HALF OF AMERICANS HAVE EXPERIENCED SOME FORM OF DISCRIMINTION IN THE PAST YEAR⁷.
Over the past year, 45% of Americans have reported experiencing some kind of discrimination or harassment.
GENDER DIVERSE TEAMS ARE 25% MORE LIKELY TO HAVE ABOVE AVERAGE PROFITABILITY COMPARED TO THEIR LESSER COUNTERPARTS⁸.
A McKinsey & Company study found that the more diverse a company is the higher the probability that they will outperform their peers in terms of profitability.
DIVERSE TEAMS ARE 30% MORE LIKELY TO SPOT MISTAKES⁹.
Diverse teams are able to collaborate effectively, mitigate risk, and more.
76% OF COMPANIES HAVE NO DIVERSITY OR INCLUSION GOALS¹⁰.
Even though companies are being held accountable by employees and customers more than ever - they still lack clear DEI goals.
Diversity, equity and inclusion programs take time and commitment from all levels of an organization. Are you not sure how to get started building your own DEI program? Let’s talk, give us a call today at 800.834.4946.
¹Fry, R., & Parker, K. (2020, August 14). 'post-millennial' generation on track to be most diverse, best-educated. Pew Research Center's Social & Demographic Trends Project. Retrieved January 3, 2022, from https://www.pewresearch.org/social-trends/2018/11/15/early-benchmarks-show-post-millennials-on-track-to-be-most-diverse-best-educated-generation-yet/
²U.S. Bureau of Labor Statistics. (2020, December 1). Earnings of full-time workers. U.S. Bureau of Labor Statistics. Retrieved January 3, 2022, from https://www.bls.gov/opub/reports/womens-earnings/2019/home.htm
³Hinchliffe, E. (2021, June 2). The female CEOS on this year's Fortune 500 just broke three all-time records. Fortune. Retrieved January 3, 2022, from https://fortune.com/2021/06/02/female-ceos-fortune-500-2021-women-ceo-list-roz-brewer-walgreens-karen-lynch-cvs-thasunda-brown-duckett-tiaa/
⁴Gerstandt, J., Georgas, C., Unger, M., & D'Annolfo Levey, L. (n.d.). Diversity + Inclusion: What It Is, Why It Matters, and How to Make It a Priority. Retrieved January 3, 2022, from https://www.quantumworkplace.com/diversity-and-inclusion-in-the-workplace.
⁵Thomas, R., Yee, L., Cooper, M., Krivkovich, A., Huang, J., McShane Urban, K., Cardazone, G., Bohrer, A., Mahajan, S., Rambachan, I., Burns, T., & Trkulja, T. (2021). Women in the Workplace. McKinsey & Company.
⁶Smith, C., & Turner, S. (2015). The Radical Transformation of Diversity and Inclusion The Millennial Influence. Deloitte University.
⁷Gallup, I. (2021, December 7). Build a culture where every employee can use their voice. Gallup.com. Retrieved January 4, 2022, from https://www.gallup.com/workplace/215939/invest-diversity-inclusion.aspx?utm_source=link_wwwv9&utm_campaign=item_236264&utm_medium=copy
⁸Dixon-Fyle, S., Dolan, K., Hunt, V., & Prince, S. (2021, November 12). Diversity wins: How inclusion matters. McKinsey & Company. Retrieved January 5, 2022, from https://www.mckinsey.com/featured-insights/diversity-and-inclusion/diversity-wins-how-inclusion-matters
⁹Bourke, J. (2018). The diversity and Inclusion Revolution: Eight powerful truths. Deloitte Insights. Retrieved January 5, 2022, from https://www2.deloitte.com/us/en/insights/deloitte-review/issue-22/diversity-and-inclusion-at-work-eight-powerful-truths.html..html
¹⁰Wall, B. (2021, October 29). How improving DE&I can make organizations more competitive. SHRM. Retrieved January 5, 2022, from https://www.shrm.org/resourcesandtools/hr-topics/behavioral-competencies/global-and-cultural-effectiveness/pages/improving-dei-raises-hrs-contribution-to-a-more-competitive-organization.aspx