Diversity, equity, and inclusion are intrinsic to building effective teamwork and collaboration within any organization. For instance:
- Embracing diversity allows for a wide range of perspectives, skills, and experiences to come together, fostering innovation and creativity.
- Equity ensures that all team members have equal opportunities to contribute and be heard, promoting a sense of fairness and belonging.
- Inclusion creates an environment where everyone feels valued, respected, and included, leading to enhanced trust, communication, and collaboration.
By prioritizing these principles, organizations can harness the full potential of their teams, resulting in improved problem-solving, decision-making, and overall organizational success. Here are six reasons you should invest now:
Why now
- Improves employee attraction and retention by including everyone.
- Reduces discrimination by stopping bias before it starts.
- Supports collaboration by fostering teamwork
- Promotes a sense of belonging by valuing all employees
- Promotes creativity by celebrating all perspectives
- Encourages open communication by understanding thoughts and ideas
By the numbers
- In 2020, the global market for DEI—that is, dollars spent by companies on DEI-related efforts such as employee resource groups (ERGs)—was estimated at $7.5 billion and is projected to more than double to $15.4 billion by 2026. Yet, at the current rate it will take another 151 years to close the global economic gender gap at all levels (Source: McKinsey & Company).
- Diversity & inclusion are a top priority for 83% of millennial employees who report they are more likely to be engaged in a diverse workplace (Source: Deloitte University).
- Nearly 50% of employees believe their company could do more to improve DEI (Source: Glassdoor).