If management is “serious about the sustainability and customer appeal of their organisations, diversity is a metric they can no longer afford to ignore." (Kate Cooper, Forbes)
Financial improvement isn’t the only benefit derived from aligning your business goals and brand strategy with your DEI (diversity, equity and inclusion) initiatives. Numerous studies demonstrate the significant benefits in employee engagement, loyalty, recruiting, and retention derive from DEI efforts. Just a few …
■ "Diversity enhances creativity. It encourages the search for novel information and perspectives, leading to better decision making and problem solving." (Katherine W. Phillips, Ph.D., Columbia Business School)
■ A study by Deloitte found that diverse workforces are 30% more likely to spot mistakes.
■ In another Deloitte survey, 83% of millennials reported higher levels of engagement when they believed their company fosters an inclusive culture.
■ 70% of respondents in a Yello survey said they would consider looking for a new job if their employer didn’t demonstrate a commitment to diversity.
■ Racially diverse teams report a 35% increase in performance compared to their competitors. (Sage Advice Australia)
■ Fewer than 1 in 4 employees trust their CEO to tell them the truth about racism, diversity & inclusion in their institution. (Edelman, May 6, 2021)
■ A Gartner study found that genderdiverse and inclusive teams outperformed their less inclusive counterparts by 50%.
Enhanced creativity, higher engagement, lower turnover.
When you align your business goals and brand strategy with your DEI initiatives, the results can be substantial. It not only helps build your business, but reduces your costs at the same time. Now that’s something worth doing!