Contrary to what you may be thinking, diversity, equity and inclusion (DEI) are more than just a collection of buzzwords. They are essential pillars for innovation and success in the workplace. According to a report by McKinsey, “companies with greater diversity on their boards of directors are more likely to outperform financially.” This information alone should be enough incentive to convince anyone that workplace DEI initiatives are valuable. However, if you have doubts about their benefits or how to implement them, the rest of this article should clear things up for you.

What is Diversity, Equity and Inclusion (DEI)?

At its core, DEI initiatives aim to tackle the inequities historically marginalised groups face within a workplace. The best way to explain the concept of DEI is by breaking it down into its core elements:

Diversity acknowledges the representation of individuals who have different backgrounds and experiences. This includes, for example, people of different races, ethnicities, genders, sexual orientations, disabilities, and socioeconomic status. However, this list is not exhaustive, as there are many other factors that contribute to diversity.

Equity involves recognising that people may have different requirements for resources that would help them to thrive in the workplace. Closely related to this is ensuring that individuals receive adequate pay and fair treatment. Unlike ‘equality’, equity ensures that resources are allocated according to need. This is instead of simply giving to all regardless of each recipient’s circumstances.

Inclusion refers to the practice of creating an environment where all employees feel valued and empowered to participate in the workplace. An inclusive environment celebrates difference, as opposed to seeing it as a hindrance.

The Benefits of Diverse Teams in the Workplace

There are many benefits to employing diverse teams.

Increase Employee Engagement and Retention

How many people do you know that have left or are considering leaving their work because they feel undervalued or mistreated by their managers? DEI directly addresses this by ensuring that employees feel respected and appreciated at their places of employment. The consequences of this are only positive: employees are happier, and, as Forbes reports, they are far less likely to leave for other jobs, instead being motivated to actively contribute to their workplace’s ethos.

Broaden Your Talent Pool

If you have ever been on the hiring team for your workplace, then you know how difficult it can be to find someone who is the right fit for the company. With DEI practices in place, the talent pool for potential new hires is increased. HR leaders, such as those with a Masters in HR, can partner with recruitment firms to broaden the scope of prospective employees and reach people they otherwise may not have found/interviewed.

Enhance Innovation in the Workplace

Where diversity goes, innovation follows. Having teams made up of diverse individuals brings together different perspectives and approaches to problem-solving, which in turn leads to the generation of innovative ideas. For your organisation, this can mean being ahead of the curve in the market because of the wealth of ideas created by your employees.   Moreover, teams that have a variety of perspectives will also be inherently more informed when it comes to decision-making, as they will consider a broader range of viewpoints before making decisions.

How to Implement DEI Initiatives in Your Organisation

Now comes the practical part—how do you take what you’ve learnt about DEI and apply it to your own organisation? There are many ways to go about implementing DEI however, here are two suggestions to get you started:

Provide DEI Training

It is unrealistic to expect your employees to immediately know how to implement DEI. Consider offering regular DEI training and development programs for employees at all levels. This might look like unconscious bias training or cultural competency workshops. Consistency is key—this is not the kind of education that happens overnight, so make sure that training is more than just a once-off workshop.

Establish Clear DEI Goals

Set clear and measurable goals for workplace DEI so that you can prioritise this initiative rather than putting it on the back burner. For example, your organisation might look to increase the representation of underrepresented groups in leadership positions. Importantly, ensure your goals align with your organisation’s overall mission. This will increase your commitment to integrating DEI in your workplace.

DEI isn’t just a trend—it’s a long-term strategy that benefits both the employees and the organisation as a whole. Commit to DEI and champion it in your workplace. Your organisation can unlock the full potential of its workforce and achieve greater success.