There’s no shortage of commentary, analysis and guidance on topics pertaining to diversity and inclusion these days. Contributor Al Limaye, President – Logistic Solutions, Inc.
The rise in related regulatory requirements, changes in workforce expectations as well as other societal and political developments continue fueling the frenzy. All the attention is helping turn the ripple of bonafide D&I programs in place today into a wave of enterprise-wide action across the globe. One thing turning the tide: productivity.
Studies have shown for years a distinct correlation between higher productivity and effective D&I policies, initiatives and processes that are continually reinforced and strengthened. In an article citing such research that first appeared in the November/December 2017 UK edition of Accounting and Business magazine, the ACCA (a global body for professional accountants) describes this link as “clear” yet “not very well understood.”
Although it may also seem obvious that diverse teams have an edge compared to those with less pronounced differences, how much time and effort really goes into forming workgroups beyond hiring for or internally developing needed skillsets?
If more D&I thought and structure enters the equation, the better off your enterprise is likely to be. This doesn’t mean D&I factors should outweigh critical dimensions of a job description such as a required technical skill or particular aptitude, discipline or education level. D&I should complement and support these objectives while ultimately shaping a culture that’s more progressive as well as more fulfilling.
Beneath the Surface
That’s where the underlying power of D&I surfaces most notably – in the eyes and actions of your people. What could be more advantageous than an environment that fosters deep appreciation and value from employees?
People who see their jobs as making a difference, growing and thriving with others who aren’t necessarily like them. You’re literally cultivating a dynamic group of individuals who recognize they can do more together than apart. Even if they don’t know it, their productivity inherently rises.
HR leaders should embrace this opportunity and responsibility with renewed vigor. The facts support making D&I an integral aspect of overall corporate strategy based on the realities, respective diversity questions within your operations and specific measurable actions focused on overall goals and objectives you set. Understanding where you are on all dimensions of D&I serves as the ideal starting point, which means you need the right data and analytics capabilities to know the patterns, potential actions and corrective measures.
Innovation Where It Counts
Advances in technology now clearly pave the way for highly effective D&I programs. It’s much easier to identify where gaps exist, whether in terms of compensation, fairness or equity in the workplace, during recruiting and hiring, or relative to professional development, for example. Too many companies err by making D&I one of numerous “annual” priorities instead of seeing it as a means of instilling better, more meaningful as well as more tangible enterprise-wide productivity year after year.
D&I isn’t a point in time. It needs to be “on” all the time
We can all learn a lot from the underwhelming D&I progress of previous decades. The era we are in now, however, is defined by change, including in regard to the elevated role HR should play in a company’s overall strategic direction.
A caveat to keep top of mind: What works for one company doesn’t necessarily work for others. D&I value on all fronts, especially when aspiring to help all employees reach their full potential, their utmost productivity, warrants a custom approach specific to individual corporate cultures.
If you already have a D&I program, are the goals clear and distinct? Does it work well? Is it in the background or emerging as a force that truly makes the company better, your people more engaged and more successful? Or are you just checking the D&I box without tapping the extraordinary value that a deeper, more strategic approach actually represents? What do you have to lose besides, well, higher productivity?
