The Why of DEIB - November Voice 2022

The why of DEIB

The business reasons behind the initiatives

By now, we all understand, at a base level, why diversity, equity, and inclusion and belonging (DEIB) are vital to organizations and the individuals within them — so that everyone can feel welcome, safe, heard, and given the space to be their true selves. Unfortunately, DEIB goals often fall flat because organizations have not committed to truly understanding why DEIB is so critical for their business and how to implement diversity and inclusion through an equity lens effectively.

Why is equity challenging?

Addressing equity can be difficult for organizations because it is a fluid concept that can change depending on context. What one individual needs to succeed can differ significantly from another. As a result, it can be extremely challenging for organizations to address inequity issues, often leading to attempts to create fairness that fail to reach the root of the problem. Without the proper foundation and understanding, actions associated with DEIB opportunities often feel performative, increasing discomfort for those the efforts are meant to support.

Avoid lip service

Let's be honest: The only way DEIB goals can be achieved is through a genuine dedication to taking action, holding ourselves accountable, learning, and growing through the process. It's not meant to be something we put on display or a box from which we can check and move on. For example, lip service says that we're committed to diversity and inclusion without setting the foundation for proper growth. That development takes time and isn't achievable with a single action or going through the motions. Opening our minds and creating space for diversity and inclusion can be a deeply personal journey — one that begins and ends within ourselves — but to induce change within our communities and organizations, we must share that evolution through actions and continued growth.

The business case for DEIB

We should all value DEIB as human beings, but there are also plenty of reasons for businesses to turn their focus to these initiatives — and plenty of solid data to back up those reasons.

A recent report by McKinsey, "Diversity Wins: How inclusion matters," found that organizations with high levels of gender diversity were 25% more likely to have above-average profitability than their least-diverse peers. In comparison, those with high ethnic and cultural diversity were 36% more likely to outperform their peers. Profitability is not the only driver, however: Strong DEIB efforts also lead to happier employees, a better business reputation, and a company culture that fosters innovation. Diversity can mean many things — and that's good for business. Diversity of background thought, perception, and interpretation often leads to more significant ideas, better decision-making, new revenue streams, and surprising resolutions to complex challenges.

Ignite real change

While organizational DEIB initiatives are a driver, actual change begins on an individual level. The organization's responsibility is to support this change by assembling the right teams, delivering adequate resources, setting attainable goals, dedicating time and budget, creating and committing to a strategic plan, continually encouraging conversations, offering training, and finding resolutions the way. From there, we can become better versions of ourselves — together.

To learn more about how you can "Ignite" meaningful change, visit us at www.ignitechangesolution.com.

Rebecca Francis, MPA, is lead DEI consultant for Ignite Change Solutions, LLC, info@ignitechangessolutions.com.

The views expressed are those of Francis and do not necessarily represent those of the Rockford Chamber of Commerce.