What Does Diversity, Equity, and Inclusion (DEI) Mean for Your Business?

Share:
What Does Diversity, Equity, and Inclusion (DEI) Mean for Your Business? | FutureBusiness

No matter what industry you operate in, there are certain factors that need to be addressed and it’s vital that employers keep up with not only the times, but industry standards as well. It wasn’t that long ago that people were calling for equality within businesses – and although the concept of this is by no means a bad thing, it was soon realised that treating everyone the same with ‘equality’ wasn’t actually making the change that were required and things needed to go further.

Equity is the realisation that everyone is different and has different needs – and in order to truly have an equal workplace, everyone has to be treated differently based on their own specific needs and circumstances.

Diversity, Equity and Inclusion (DEI) is about offering policies, programs, and making real change in a workplace, in order to provide employees with a fair, honest, and equitable experience.

What Does DEI Include?

There are different elements and characteristics that you need to be aware of when creating DEI policies, in some countries (such as the UK) these characteristics are protected and guaranteed by law.

They include:

  • Age
  • Gender
  • Sex
  • Sexual orientation
  • Marital or Civil Partnership status
  • Religion or Belief
  • Race
  • Disability
  • Pregnancy or maternity status

In the past, it was common to see unethical hiring practices, where employees were chosen, not for their abilities or talents, but because they ticked a box on a checklist for inclusivity; and although this may have helped businesses appear progressive – with the advances in social media, internet news sharing, and the ability to whistle-blow – businesses who approach DEI as a “necessary evil” rather than something that genuinely stands at the heart of the business, are finding that people aren’t as forgiving or agreeable to engaging with them.

67% of employees say that diversity is an important factor to them when considering a job, and 70% of diverse companies are more likely to capture new markets – so handling DEI properly can have a powerful impact on a business and its profitability; in fact 78% believe that diversity and inclusion offer a competitive advantage.

Share:

Related Articles

Trending

How Does Sustainability Affect the Economy?
Sustainability is one of the most frequently heard buzzwords when talking about our future but what is...
What are the Biggest Sustainability Challenges Facing the World Today?
When it comes to issues facing sustainability, there are a variety of areas that need to be addressed,...
What Industries are Considered to be the Most Damaging to the Environment?
We reveal some of the worst industries for the environment and pollution.
What are the Dangers of Not Embracing Diversity in Business?
A company that does not embrace diversity will lose customers, investors, support, and money as a result.

Subscribe to our Newsletter