Diversity and Inclusion

As a company certified by the National Minority Supplier Development Council, we are well-versed in the challenges organizations encounter in implementing best practices for diversity and inclusion within the workplace. InterAction24 is dedicated to representing our clients’ missions, placing a high priority on adopting and promoting best practices to achieve their diversity and inclusion objectives. Below, we will outline key best practices and strategies designed to align with your talent acquisition priorities, ensuring a comprehensive approach to fostering a diverse and inclusive work environment.

What is Diversity in the Workplace?

Workplace diversity encompasses the recognition, acceptance, and appreciation of differences among individuals, including but not limited to:

  • Variations in race, ethnicity, gender, age, religion, disability, and sexual orientation
  • Differences in education, personality, skill sets, experiences, and knowledge bases

A report by Deloitte has highlighted interesting generational perceptions of diversity. Millennials primarily perceive workplace diversity as the amalgamation of various backgrounds, experiences, and perspectives, advocating that leveraging these differences is key to driving innovation.

Conversely, Gen Xers and Boomers tend to define workplace diversity as equitable and unbiased representation across demographics, without directly linking diversity to business outcomes. The concepts of Diversity & Inclusion extend beyond mere buzzwords; they are critical elements that require serious consideration and comprehensive understanding within the workplace.

What is Inclusion?

Inclusion in the workplace refers to creating a collaborative, supportive, and respectful environment that enhances the participation and contribution of all employees. In essence, genuine inclusion eliminates any form of barriers, discrimination, and intolerance. When effectively implemented in the workplace, it fosters a culture where every individual feels valued, included, and supported, contributing to an atmosphere of mutual respect and empowerment.

What is Diversity and Inclusion?

Diversity and inclusion represent a company’s mission, strategies, and practices aimed at fostering a diverse workplace and harnessing the benefits of diversity to secure a competitive edge in the business landscape. Companies that cultivate diverse and inclusive environments are characterized by greater adaptability, creativity, and appeal as attractive workplaces for top talent. This approach not only enriches the organizational culture but also enhances its capacity to innovate and respond to diverse market needs.

Diversity and Inclusion Priorities

A survey by Forbes Insights of more than 300 senior executives – 32% who were in HR or talent management – found their companies’ diversity and inclusion priorities include:

  • 65% said recruitment of diverse employees
  • 44% said retention of diverse talent
  • 35% said ensuring diversity in the workplace
  • 29% said developing a robust pipeline of diverse talent
  • 28% said managing cross-generational issues

65% of senior executives believe the responsibility for implementing diversity and inclusion programs falls on HR, while 45% say it’s the responsibility of senior leaders within a business unit or division. 56% of the companies surveyed strongly agree that diversity helps drive innovation. It’s clear that they believe this innovation advantage is achieved through their ability to attract and recruit diverse talent.

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Diversity and Inclusion Best Practices

A survey of 330 HR Executives by Professor Roberson found that diversity and inclusion best practices include:
  • fair treatment
  • equal access to opportunity
  • teamwork and collaboration
  • a focus on innovation and creativity
  • organizational flexibility, responsiveness, and agility
  • conflict resolution processes that are collaborative
  • evidence of leadership’s commitment to diversity (e.g., appointing a Chief Diversity / Equality Officer)
  • representation of diversity at all levels of the organization
  • representation of diversity among internal and external stakeholders
  • diversity education and training
The interesting thing to note is that employees perceive their company as diverse and inclusive based on practices that aren’t even directly related to diversity such as a focus on innovation and creativity. Instead, these best practices are ones that are desired by everyone in the workplace.

Diversity and Inclusion Strategies

Some of the key diversity and inclusion strategies of Bersin by Deloitte’s diversity and Inclusion framework and other research include the following:
  • Creating a focus and strategy at the CEO/COO/CHRO level
  • Assigning a top executive the responsibility for leading and sponsoring the diversity and inclusion program
  • Creating behavioral standards and holding leaders accountable for results
  • Training people at all levels on topics like unconscious bias
  • Integrating diversity and inclusion strategies in recruitment, performance management, leadership assessment, and training
  • Creating employee networks (e.g, employee resource groups, community outreach groups)
  • Holding your company accountable to compete and win in external award programs
  • Accepting and honoring multiple religious and cultural practices
  • Strengthening anti-discriminatory policies
  • Reporting goals and measuring progress
  • Creating an externally visible scorecard to measure progress including metrics for recruiting, promotion rates, compensation levels, turnover, participation in ERGs, and supplier diversity

Diversity and Inclusion Success Metrics

The forbes Insight Survey Said that 60% of companies have metrics in place to measure the success of their diversity and inclusion efforts.

“If we couldn’t measure the impact of our diversity and inclusion efforts and programs, it would be a hard sell among company executives.”

~ Huey Wilson, SVP HR & Diversity Board Member, Mattel

The most popular success metrics are:
  • 77% said employee productivity
  • 67% said employee morale
  • 58% said employee turnover
Senior executives are being held accountable for their diversity and inclusion programs performance through:
  • 66% said performance reviews
  • 51% said bonuses
  • 48% said business/department reviews
  • 42% said salary increases
  • 41% said promotions

The Key Takeaways

  1. Diversity and inclusion are a company’s mission, strategies, and practices to support a diverse workplace and leverage the effects of diversity to achieve a competitive business advantage.
  2. The top diversity and inclusion priority is recruitment of diverse employees.
  3. Approximately 50% of diversity and inclusion best practices are not directly related to diversity per se but are practices desired by everyone such as fair treatment and organizational flexibility.
  4. To be successful, diversity and inclusion has to be a top-to-bottom business strategy and not just an HR program. However, 65% of senior executives believe it’s HR’s responsibility to implement diversity and inclusion programs.
  5. The majority of companies measure the success of their diversity and inclusion efforts with metrics such as employee productivity and turnover.
  6. Decision-making by diverse teams outperforms that of individuals 87% of the time.
  7. Workplace diversity and inclusion are top of mind these days and will only grow in importance as companies continue to invest in their diversity and inclusion programs.
  8. Research has it that diverse organizations outperform competitors by 35%.
  9. Diversity and inclusion in the workplace is an essential business practice that high-performing companies prioritize — building environments that help their employees thrive.

In conclusion, If you’re able to implement at least a few of the strategies outlined above, you’ll be giving yourself one of today’s biggest competitive advantages.