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Diversity & Inclusion: 5 Lessons from Top Global Companies

5 Lessons for Managing D&I

  • Recognize the Shift in Global Understanding of D&I.  Diverse thinkers come from a variety of different backgrounds.
  • Build an Inclusive Environment. All people are encouraged to draw upon their unique experiences, perspectives and backgrounds to advance business goals.
  • Use Multiple Practices and Measures.  Have solutions in place to monitor and retain a talented and diverse workforce.
  • Ensure Leaders Model Diversity and Inclusion. It sets the tone for the rest of the organization to follow suit.
  • Recognize the Connection Between Innovation and D&I. Diversity and inclusion increase innovation and reduce business risk.

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IDEA EXTRACTED FROM:

Diversity & Inclusion: 5 Lessons from Top Global Companies

Diversity & Inclusion: 5 Lessons from Top Global Companies

https://medium.com/diversity-inclusion/diversity-inclusion-5-lessons-from-top-global-companies-22de15845e3c

medium.com

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Key Ideas

Diversity & Inclusion

There is a significant relationship between competitive profit gains and diversity.

Companies with gender, ethnic and racial diversity are at least 15 percent more likely to experience above-average financial returns.

5 Lessons for Managing D&I

  • Recognize the Shift in Global Understanding of D&I.  Diverse thinkers come from a variety of different backgrounds.
  • Build an Inclusive Environment. All people are encouraged to draw upon their unique experiences, perspectives and backgrounds to advance business goals.
  • Use Multiple Practices and Measures.  Have solutions in place to monitor and retain a talented and diverse workforce.
  • Ensure Leaders Model Diversity and Inclusion. It sets the tone for the rest of the organization to follow suit.
  • Recognize the Connection Between Innovation and D&I. Diversity and inclusion increase innovation and reduce business risk.

Cognitive Diversity

The concept of cognitive diversity focuses on diversity of thinking and is composed of four dimensions:

  • Perspectives. People represent situations in different ways
  • Interpretations. Through diverse interpretations, teams can discover multiple resolutions.
  • Heuristics. People resolve issues in different ways.
  • Predictive models. Some analyze, and others look for a story. Both are useful for discovering workplace solutions.

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Increased Diversity

Companies with increased growth are 72% more likely to have high diversity in their organization.

Use Learning & Development (L&D) training to raise awareness about the current state of diversity and inclusion in your work environment.

Agility Breeds Sustainability

Up to 70% of trainees forget what they learn within 24 hours after training. However, it does not have to be the case for your employees.

An effective leader will implement and integrate an agile training infrastructure into their daily operations that can change quickly to keep up with the pace of innovation.

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Why diversity matters.

Why diversity matters.

Diverse Companies with a wide range of employees enjoy broader skill sets, experiences, and points of view.

How to Increase Diversity and Boost Performance

  • Develop an equal opportunity policy.
  • Be transparent about hiring criteria.

  • Improve retention of minority workers.

  • Analyze problems and adapt. Train managers to spot their biases and avoid communicating in ways that unconsciously deter minority candidates.

  • Implement workplace flexibility.

Make space to create meaning

Provide digital self-assessment tools and the types of personal exploration exercises that facilitate reflection.  

These mechanisms can help employees identify personal sources...

Provide the right amount of structure

Formal employee programs and activities, such as rotational opportunities, innovation labs, reverse mentoring and milestone experiences, can help employees build deeper, more diverse relationships while promoting growth.

Build strong teams

Deepening relationships is a key source of fulfillment.

Shared experiences help employees come together in ways that build meaningful connections and trust. Activities that provide a common purpose — such as an escape room game or a hackathon — are especially effective.

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