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Why Diversity and Inclusion Are Important to Business Success

By November 21, 2023November 27th, 2023No Comments

Diversity, equity, inclusion and belonging (DEIB) are essential components of a positive and productive workplace. Why? Because organizations that prioritize DEIB can more easily attract and retain top talent—a critical element to success in today’s workplace.

However, the benefits don’t stop there. Other benefits of DEIB include:

  • Increased employee engagement;
  • Improved decision-making;
  • Creation of meaningful processes; and
  • An enhanced overall performance.

A Sense of Belonging

DEIB promotes a workplace culture that values and respects the differences in individual backgrounds, experiences, perspectives and identities. All employees can feel seen, heard and valued. This translates into a sense of belonging, and employees who feel they are essential to the organization are more engaged, motivated and productive.

Better Decisions

When individuals of different backgrounds and approaches to problem solving come together, better decisions can be made, with more creative and effective solutions and processes. That requires building age, gender, ethically and geographically diverse teams, states Dimensional Insight. Research from a Cloverpop study it cites indicates that “teams that are diverse in all those areas make better business decisions 87% of the time.”

Increased Profits

Increased involvement and better decision making can also lead to an improved bottom line. Supporting DEIB can have a significant impact on an organization’s financial performance.

To have the best chances for an organization’s success, DEIB needs to be not only addressed, but embraced. The benefits are clear.

By Kruti Kapadia, Kapadia Coaching