According to some studies, over four in five companies have taken action on diversity, equity, and inclusion (DEI) initiatives in 2021.
Diversity and equity in the workplace are becoming high priorities for more and more business leaders around the globe. Some, though, are still unsure of how these initiatives can contribute to achieving their business’s goals.
If this sounds like you, keep reading. Here, we lay out a few ways that diversity, equity, and inclusion in the workplace benefit your employees’ well-being and your company’s bottom line.
Better Team Performance
Workplaces that focus on DEI build environments that promote psychological safety.
In psychologically safe workspaces, employees feel empowered. They say what’s on their minds, contribute ideas to the team, and bring their concerns to the table. They don’t fear punishment, ridicule, or retaliation for speaking up in these ways.
On teams like this, employees can let their guard down. This leads to more productive, more creative work across the board.
Improved Organizational Trust
Where DEI is prioritized, employees believe that their leaders have their best interests at heart. As a result, they know that they can bring their whole, authentic selves to work. They trust that their needs and experiences as an individual will be honored and valued.
DEI training also gives your employees the tools to engage in challenging conversations. Unfortunately, so many people are afraid of saying the wrong things that when DEI conversations come up, they shut down.
With DEI training, though, people generate a culture where it’s okay to make mistakes. They trust that they can be vulnerable with each other, creating opportunities to learn and grow with their colleagues. This makes it easier to have the big conversations necessary to create an inclusive workplace.
More Connection with Your Customers
Your company probably has a diverse customer base. With a diverse group of employees, you increase your chances of having someone on the team who understands all your customers’ experiences and values. Without this, you miss opportunities to connect with your customers.
But diversity alone is not enough. Make sure that people with various experiences and perspectives can contribute to your high-level policies as well. Otherwise, you create a diverse, but not truly inclusive, workplace.
Greater Employee Retention
Employees stay at companies that put continued effort into making an equitable workplace. This saves you from the costs of hiring and training new employees.
It also creates a long-term group of employees. Over time, this builds a true community in your workplace.
And you don’t even have to wait until implementing a formal DEI initiative to get started with building this kind of culture. Experts like Risha Grant have many ideas to help you get started with this right away!
Diversity Equity and Inclusion: Start Today
Now you know some of the benefits of implementing diversity, equity, and inclusion strategies in your workplace. From greater productivity to increased employee retention, investing in DEI in the workplace makes sense for you, your employees, and your business.
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