Did you know that firms that encourage equal opportunity and justice in the workplace generate more income and have higher employee satisfaction, retention, and productivity?
While it’s true that not all business owners are motivated by anything other than achieving more success, some are also true. Change the corporate culture to stay current and ahead of the competition for happier employees, loyal customers, and more money.
What does it mean to be a diverse and inclusive firm today, and which industries in the United States are the most diverse?
Humble Beginnings in Diversity and Inclusion
The Civil Rights Act of 1964 made it illegal to hire, promote, or fire someone based on their gender, race, religion, or nationality. Businesses had to adjust or go out of business after the EEOC (Equal Employment Opportunity Commission) went online in July 1965. This law caused significant disruption for organizations that had previously made personnel decisions without regard to rules.
Workplace HR rules are still improving to encourage fairness in hiring and provide more fantastic possibilities for all employees. Onboarding in progressive organizations demonstrates inclusiveness and a code of conduct that encourages diversity and transparency.
What it appears to be
According to this blog article, a workplace culture that values diversity and inclusion has greater levels of:
- Employee loyalty and trust
- Willingness to work, or the ability to be productive
- Job and company fulfilment
- Adaptation and innovation
- Teamwork
Transparency
Workplace discrimination is decreasing, and large corporations’ transparency of EEO-1 forms has improved. Some major shops and manufacturers have either released or plan to release their EEO-1 forms. For instance, 83 of the top S&P 100 companies have shared or will share data with USAToday.
Industries Setting the Standard
Which industries are pioneering diversity and inclusion? Here’s a rundown of the main industries, which is by no means exhaustive:
- eCommerce, Logistics, and Delivery
- Financial services Transportation Travel Hospitality
Absence of Note
Considering how many people they employ, though, the lack of technology on the list is concerning. Statista gives a breakdown of tech industry employment and forecasts that by 2030, 6 million people will be employed in the field. Consider all of the major tech companies and how they might be able to channel some of their innovation into improved workplaces for employees!
Changing the Culture of Your Company
What can businesses do to make their workplaces more diverse and inclusive? There are a variety of approaches to fostering organizational transformation so that your company can realize the benefits of a happier, more diversified workforce, including:
Pay parity
Start by going over your equal pay policy. Is it guaranteed that everyone who works in the same position and does the same work receives the same compensation and benefits? Is your payment policy clear and consistent with market pay scales? Ascertain that all employment contracts contain the same terms for:
- Rates of overtime
- Hours of work
- Bonuses
- Allowances for travel and a company automobile (if applicable).
- Pension eligibility and perks
- Sick pay
- Pay for redundancy
Employee Resource Organizations
You may be unsure what an ERG is (employee resource group). Your employees can help you foster inclusion in your workplace. ERGs are employee-driven and voluntary, with guidelines and resources for the company. Management might be invited to sessions and learn about diverse cultures and workplace experiences.
Employee Resource Groups can benefit from advice on how to form:
- Goals
- Statement of mission and vision
- Reporting on feedback
- Budget for creativity and innovation
Staff will be more focused on achieving positive outcomes and creating company-wide cultural change if best practices for organizing and operating ERGs are followed. Employees chosen by their peers will serve as ERG leaders. Employee engagement and development are improved by ERGs, which are a bottom-up strategy. Do you want your staff to stick around your company? Create an ERG.
Training
Invest in employee and leadership training to eliminate ignorance from the workplace. Empathy is a skill that leaders must master. Continuous training and learning about people management will always be required. All leaders must know how to reduce tension and misunderstandings, eliminate fear, and foster loyalty and trust.
Final Thoughts
While workplace diversity and inclusion are not new concepts, few companies can claim to have nailed it!
Open minds, transparency, and a real desire to be better and achieve better than previous companies are essential for the future of labour and business. There are numerous reasons to be more diverse and inclusive. Consider whether your company would benefit from increased income, employee satisfaction, retention, and productivity.
