DE&I
Unlocking the power behind DE&I
Kim Lonas, Exertis’ Global Diversity & Inclusion Programme Lead explores the multi layered, yet interrelated perspectives of diversity and inclusion.
T
here is a lot of buzz these days about diversity and inclusion. Yet do we really understand what these
terms mean? More importantly, do we know how to put them into practice? Diversity and inclusion are clearly defined practices and attitudes, which can be measured. Tese terms are oſten used interchangeably; yet their meaning and their implications for business practice are vastly different. Let’s break down what diversity and inclusion
mean to us personally as well as for our business. Diversity and inclusion have an impact
both on a personal and professional level. On a personal level, if these practices are done effectively, it allows people from all groups to feel welcomed, represented, and empowered. Effective diversity and inclusion practices also influence the performance of businesses and organisations in powerful ways. Here we break down how the two perspectives of diversity and
inclusion are different yet interrelated. Inclusion is the extent to which we feel included – that our individual identity and contributions are valued. It brings with it a sense of belonging and connectedness. When applied to the workplace, inclusion signifies that all individuals are treated fairly and respectfully, empowering every individual to contribute to the business’ overall success. Te concept of diversity, though closely related to inclusion, is
different and more personal. It represents the complex interplay of perceptual differences that shape each person’s unique view of the world. Diversity is what makes each individual unique in their perspective and approach to all aspects of life. Te term comprises differences in origin, background, personality, life experience, beliefs, and personal characteristics to name a few. True diversity means a variety of skills, perceptions, and attributes that individuals bring to any business or organisation. Te difference is, diversity relates to the overall make-up of a
person or an organisation, while inclusion relates to how different groups and individuals are valued and empowered within it.
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Diversity and inclusion may not necessarily coexist. It is possible for a workplace to be diverse yet not inclusive, or vice versa.
Why are diversity and inclusion important? Why does this matter to our business? You may think that individual perceptions of inclusion and diversity in the workplace have no bearing on the success of a business. However, the research shows otherwise. Many research studies on the benefits of
diversity and inclusion have been published by the likes of McKinsey, Deloitte, Harvard Business Review, and others. Te results are clear: corporations identified as diverse and inclusive are more likely to outperform their competitors. Research shows diverse companies are 70 percent more likely to capture new markets, while diverse teams are 87 percent
better at making decisions. In addition, companies with more diverse management teams have led to an average of 19 percent higher innovation revenue. One area in which these benefits are most telling is gender
diversity. McKinsey research indicates that gender-diverse companies (which employ an equal number of men and women) are 15 percent more likely to notice higher returns and produce up to 41 percent higher revenue. Tese gains have a ripple effect that goes far beyond individual companies. Teir research goes on to show that our gross domestic product (GDP) could increase by twenty-six percent (26%) if the gender gap were equally diversified. Tis equates to a potential of $12 Trillion Dollars added to the global GDP by 2025.
What happens when organisations focus on diversity, but not inclusion? Many organisations use the terms “diversity” and “inclusion” interchangeably. Tis inaccuracy can lead to problems in the formulation and implementation of diverse and inclusive business practices. For example, a company may focus on diversity but not
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