A Diversity, Equity, and Inclusion (DEI) policy, is a beacon of a company’s commitment to fostering a diverse, equitable, and inclusive work environment. It has multiple core objectives: It helps a company attract diverse talent, fosters a culture of respect and collaboration, and ensures equitable growth and opportunity for all employees.
DEI initiatives create an inclusive workplace that values diversity, ensuring all employees feel welcomed and free from harassment or discrimination. This commitment extends beyond compliance with legal requirements, aiming to promote a truly diverse and equitable work culture.
DEI clearly reflects your company’s core values, principles, and best practices that are communicated effectively to all internal and external stakeholders. This includes guidance on acceptable behaviors, procedures to handle violations, and initiatives to promote diversity and inclusion.
DEI distinguishes the company as a forward-thinking, dynamic company that acknowledges the importance of diversity, equity, and inclusion and actively invests in DEI initiatives. This proactive stance towards DEI further enhances the company’s reputation and brand image.
DEI is an ongoing effort that is driven by consistent efforts, especially as your team works to design more equitable and inclusive hiring practices. When just 35% of companies feel that they are making positive headway with DEI, it is imperative that both HR and Leadership teams consistently review their diversity, equity, and inclusion initiatives to ensure they are making true progress.
Remember that DEI is not just good for your company — it is good business in more ways than one. Workplace diversity does much more than just improve your bottom line, it also drives retention, increases employee engagement, positions your company as a great place to work, and encourages employees to bring their best selves to work.
Diversity and inclusion initiatives are the efforts you put in place and consistently work on to drive workplace diversity. These initiatives create a healthy and safe workplace where employees can flourish, and where unique perspectives, ideas, backgrounds, and ways of working are all supported.
Effective leaders know that diverse workplaces help companies innovate and achieve better business outcomes. Companies need to realize that there is a lot of potential to improve their recruitment, hiring and employee retention processes by making them more inclusive — like having more diverse stakeholders in interviews, using structured hiring to eliminate bias, and recruiting through diverse communities. After all, the benefits of a diverse workforce are numerous.
Over 75 percent of employees consider workplace diversity an important factor when considering employment offers with a new company; Eliminating identifying information when recruiting can help increase the likelihood of hiring more diverse teams. Data shows that doing this will increase a company’s hiring of women and racially diverse teams. These teams will outperform other companies lacking in diversity. The best companies are those that recognize that having proactive DEI strategies and diversity efforts can help attract top talent.
Internal mobility is a must-have if you hope to attract diverse talent and keep your current employees. Leveraging the employees that you already have allows your people to upskill or reskill, which benefits both them and your company. An internal mobility program is also a bonus for many candidates;
Attracting talent will mean pulling out all the stops, including being transparent about compensation, providing modern benefits, and making candidates aware of the impacts and contributions they will make when hired. Over 50% of employees feel their companies could be doing more to drive their DEI initiatives.
Facilitate a hiring process that is centered on equity. Implement diversity and inclusion in your core values. Diversity your candidate selection panel. Be sure to flag any biases in your screening processes. Foster a safe space for authentic culture expression so employees now they can bring their authentic selves to work.
Companies that embrace DEI are more likely to help the company in attracting diverse talent, foster a culture of respect and collaboration, and ensure equitable growth and opportunity for all its members and retain diverse talent, which will enhance innovation and creativity and improves your company’s bottom line.