Relevance of Diversity, Inclusion & Belonging in a crisis
It has been a challenging year for all of us globally in dealing with the pandemic and trying to hang on to a sense of ‘normalcy’, while taking measures to stay safe. Organizations and leaders are also gearing up and trying to maintain business continuity even after pandemic
While considerable efforts are focused on business recovery and sustenance, during these challenging times, it has undoubtedly become all the more important for organizations and leaders to bring diversity, inclusion (D&I) & belonging to the forefront.
Here are some statistics that emphasise the importance of D&I:-
Gender-diverse companies are more likely to perform 25% better.
Ethnically diverse companies are more likely to perform 33% better.
83% of millennials are more actively engaged when they believe their company fosters an inclusive culture – and in 10 years millennials will comprise nearly 75% of the workforce.
Inclusive talent practices in hiring, promotion, development, leadership, and team management generates up to 30% higher revenue per employee and greater profitability than their competitors.
Recent research studies show that companies that are putting conscious efforts to embrace and advance diversity and inclusion in the workplace, will be more resilient, see better business recovery and higher innovation. During a crisis, diversity plays a vital role in dealing with it effectively. One of the most recent examples that is being discussed is countries with women leaders show that they are dealing with COVID-19 outbreak more successfully.
This brings us to two important questions: -
As organizations how can we have a diverse workforce and foster a culture of inclusion & belonging? As individuals, how can we play a role in being inclusion allies?
Organizations need to undertake conscious steps towards maintaining a diverse workforce, as there are higher chances of losing diverse talent during a crisis
Since a large percentage of the workforce continues to work remotely, it is essential to pay attention to make employees feel included and valued.
Under-represented groups are finding it hard to deal with the current situation and may require additional support.
With no support systems, many women are burdened with household and childcare responsibilities
Alarming statistics show that homes are not particularly safe for some women, who are subjected to domestic violence.
Persons with disabilities, Transgender and non-binary people may not have access to their special needs, as it may not be categorized as essential needs.
Organizations can provide support through helpline numbers and counseling services, where employees can reach out.
Managers can informally connect with team members individually, to understand their emotional and physical well-being.
