Why Diversity, Equity & Inclusion Still Matters
Remember 2020? The world saw a powerful social justice movement spark a wave of change, leading businesses to ramp up their diversity, equity and inclusion (DE&I) efforts. Companies made big promises to create more inclusive environments.
Fast forward to today, and there's a worrying trend: those bold promises are fading. DE&I-related hiring has dropped significantly. In 2021, there were 500 DE&I job postings per million listings on Indeed. By January this year, that number had fallen to 272.
So, what’s happening? Are we facing 'Diversity Fatigue,' or is there a broader shift within the industry? It’s crucial to remember that DE&I isn’t just a passing trend but a vital part of a successful business.
The Business Case for DE&I
1. Attracting Top Talent: Today’s job seekers want more than a paycheck; they want inclusive workplaces where they feel valued. A strong DE&I strategy makes your company more appealing to top-tier talent.
2. Enhancing Creativity and Innovation: Diverse teams bring varied perspectives, leading to richer brainstorming and innovative solutions. This diversity of thought is a key driver of creativity, setting your company apart in a competitive market.
3. Improving Employee Retention: When employees feel included, they’re more likely to stay. This reduces turnover and the costs of recruiting and training new hires.
4. Building Brand Reputation: Companies genuinely committed to DE&I are viewed more favourably by consumers. This boosts your brand’s reputation and builds loyalty among customers who share these values.
Overcoming Diversity Fatigue
Maintaining a DE&I strategy can be challenging, especially when progress seems slow. The key is embedding these values into your company culture, not treating them as a checkbox.
Consistency and Commitment: True change requires a consistent, sustained effort. Keep investing in DE&I initiatives, even when it’s tough. This long-term commitment will pay off with a more engaged and productive workforce.
Leadership and Accountability: DE&I efforts need top-down support. Leaders must visibly commit to these values and hold themselves and their teams accountable for progress.
Education and Awareness: Continuous education and awareness programmes maintain momentum. Regular training and open discussions about DE&I keep these issues front and centre.
Looking Ahead
As we move through 2024 and beyond, it's important to remember the lessons of 2020. Our commitment to diversity, equity, and inclusion (DE&I) should stay strong to help build a fairer, more inclusive society.
For businesses, focusing on DE&I isn’t just the right thing to do – it’s also smart. By making DE&I a core part of your company, you help create a better society and set your business up for long-term success.
