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Diversity and inclusions (D&I) are increasingly becoming vital indicators of a well-balanced workplace culture and directly impact the organisation’s bottom line. Diversity focuses on welcoming individuals to the workplace from “diverse” backgrounds including different genders, languages, place of birth, personality types, values etc. Inclusion on the other hand refers to a supportive environment where employees feel welcomed as part of the workgroup and decision-making process, irrespective of their background, contributing to a strong organisational bond.
In 2018, The Boston Consulting Group surveyed 1700 companies in 8 different countries across varying industries and company sizes. They found that increasing diversity positively impacts the bottom line by as much as 19%. A more diverse and inclusive team maximizes engagement and leads to better financial performance, creativity, innovation, problem solving, employee retention and enhanced profit and ultimately a positive corporate image.
D&I strategies and plans adopted by organisations
Organisations across the globe have been increasingly adopting D&I plans to create a healthier workplace environment. Though each company is unique in its culture and approach, discussed below are some common strategies that a lot of leading enterprises are consciously adopting to create a more egalitarian work culture.
D&I – much more than a laundry list of labels
Acknowledging D&I as a priority and introducing initiatives in this area is just the beginning. In order to prevent D&I from becoming a mere check in the box, organisations must come up with a detailed strategy that calls for consistent action and evaluation standards to measure success. Discussed below are a few measures and suggestions.
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