What is it?
Diversity and inclusivity policy is a policy of involving underrepresented groups in business, creating the most diverse teams. A large study has been published that shows a clear correlation between gender and ethnic diversity and the financial success of a company.
Innovation and excellent customer service are two keyways. Any company can remain competitive in markets and deliver consistent revenue growth. Thus, this is not just a fashionable trend, but a real financial instrument.
Diversity includes the basic aspects with which a person is born: age, gender, race, and ethnicity, sexual orientation, physical and mental characteristics. Also, it involves acquired: education, place of residence, social status, place of work, income, and much more.
Speaking of inclusiveness in general, it is the principle of organizing life in society, which allows all people (regardless of appearance, origin, gender, health status, etc.) to participate in its various aspects (everyday life, education, culture, and art).
Business inclusivity is how people feel at work. The company aspires to create a corporate culture in which each employee can be himself and maximize his abilities. In an inclusive environment, employees are open-minded, free from prejudice, flexible, and adaptive.
D&I culture has a positive effect on:
1) personal level (involvement, motivation, job satisfaction)
2)organizational level (company growth, profitability).
3) social level (innovativeness and creativity of teams);
D&I practices are applied at different stages of employee development in the company:
5) talent management
Also, in the daily communication of employees with each other and with customers.
Why it is becoming popular?
Attention to D&I culture is growing exponentially. The thing is, the impact on business performance is becoming more evident.
According to many studies, companies with a D&I culture
1) are more adaptable to a changing environment;
2) more often achieve their financial goals;
3) are more likely to perform well in business.
I hope this article helped you understand the importance of diversity in workforce.