DIVERSITY, EQUITY and INCLUSION
By Jason Rhoades
Diversity, equity and inclusion has been a hot topic overarching much of the media landscape today, and the majority of current research studies tout the benefits of diversifying organizational composition. Viewing diversity through a performance lens has shown that organizations that have higher rates of diversity have higher success at meeting targeted goals.
The following studies assist in evidencing the aforesaid:
A study conducted by Credit Suisse in 2012, Gender Diversity and Corporate Performance, explored the benefits of having women board members. Results revealed boards with at least one female had higher net income growth, and achieved a higher return on equity as compared to boards with no female members.
More and more research has begun focusing on the positive influence of diversity on creativity, communication, and problem solving. For example: 87% of the time inclusive decision-making yields better results as evidenced by Hacking Diversity With Inclusive Decision-Making. Additional research offered in “How Diversity Makes Us Smarter” gives way to show diversity assists with amplifying team creativity and overall performance.
The overarching theme associated with diversity, equity, and inclusion is enriched inventiveness and innovation. The article Innovation Through Diversity assists in confirming companies that have higher diversity among gender and ethnicity generated more income from new products and services. Interestingly, the study found a correlation between female managers and organizational creativity. Once the number of female managers exceeds 20%, organizational creativity improves.
Diversity, equity, and inclusion are directly linked to organizational productivity, profitability, and creativity. Employing appropriate strategies to encourage equity and inclusion within your organization will assist with enhancing your organization.
AlphaMille has staff with a plethora of experience in designing processes to encourage diversity. Our skilled staff can assist your organization in designing methods to increase diversity, equity, and inclusion, and capitalize on the strengths of your staff. Our approach to encouraging diversity includes:
· Identify the diversity project outcomes/goals
· Develop strategies to accomplish targeted goals
· Work collaboratively with your organization to verify the strategies are appropriate
· Refine strategies if necessary
· Develop objectives to measure strategy effectiveness
· Train staff to evaluate the diversity strategies
· Train staff how to refine strategies if necessary.
“Diversifying your workforce will amplify innovation, and yield a broader range of strategies which will ignite your organization’s overall strategic momentum.” — AlphaMille
