When I say DEIB or Diversity, Equity, Inclusion and Belonging, what thoughts does it trigger in you?
Does DEIB remind you of
- Diversity Hiring
- Someone who got promoted because the person was a diversity candidate
- Hiring specific segments of candidates
- Unconscious bias training
- Women’s Day celebration
- Yet another HR initiative?
Or does DEIB also remind you of
- All boardroom full of male members
- The non-existent all gender restrooms
- The banter that mocks alternate sexuality
- The neighbour who did not get a promotion because the person uses a wheelchair
- The parents who are worried that their neurodiverse child will not get employment
- The introvert who did not get a promotion because “she is not popular”
- The remote worker who is often forgotten to be invited to the crucial meetings
- The woman who came back from maternity leave to find she had been given a less important task
- The man who is declined to move to another city to take care of his elderly parents
- A highly qualified & experienced professional who is above 50 years of age and unable to find a job
If it’s the items on the second list that cross your mind, then you are thinking right. DEIB is about including everyone and where everyone has access to opportunities based on their abilities and not on their gender, sexuality, disability, age, state of origin, school they studied, etc.
Why are we talking about DEIB now?
While Trump administration has strictly forbidden the words DEIB, can we ever “not” see the difference that each one of us carries? Can we choose to ignore the fact that every individual has different needs, and honouring those needs would ensure contribution? Can we dismiss that visible or invisible disabilities may hamper a person’s opportunities, even though they bring the perspective of our customers? Can we dismiss the fact that the our social fabric disadvantages certain groups of people, who may have all the talent we need.
We live in an era where a multigenerational workforce, working across continents and time zone, in a hybrid work environment, with AI-enabled workplaces, global corporations and very enlightened customers are the norm. The war for talent is a reality. Can we really afford to continue to have workplaces cater to a homogenous workforce?
Diversity may give us the numbers, but to get the most out of the workforce, “inclusion” has to be intentional.
The business imperative for DEIB
Experience tells us, decisions are better, profits are higher, innovation and creativity are high and still we ask for the business case. Here are a few
- Companies with gender-diverse executive teams are 25% more likely to experience above-average profitability, as compared to their peers, based on data available from 15 countries, including emerging markets
- Gender-balanced leadership teams are correlated with approximately 25% greater increases in valuation, as compared to unbalanced teams, based on an IFC analysis of thousands of GPs and portfolio companies operating in emerging markets
- Companies with gender-balanced leadership teams are more likely to use gender-equitable hiring, training, and promotion practices, provide equal pay for equal work, and have more women-friendly policies.
- Companies with gender diversity among employees have reduced business costs and increased productivity20 and make better business decisions.
Notes
- This is part of a series of articles on DEIB, which will be published in the coming weeks. Watch out for our next blog on common DEIB terminologies
- If you want to know more about how can we support you in your DEIB journey, please connect with us to set up a 30-minute call. email: connect@ananyawomenatwork.com ph: +91 93431 23455
References
Women in Business Leadership Boost ESG Performance: Existing Body of Evidence Makes a Compelling Case. by Di Miceli, Alexandre and Angela, Donnagio. International Finance Corporation (IFC), 2018.
“New Research: Diversity + Inclusion = Better Decision Making At Work.” by Larson, Erik. Forbes.September 21, 2017.
