VLOG - Diversity, Equity, & Community (DEI)

With 78% of people recognising the pivotal role diversity, equity, and inclusion (DEI) play in enhancing a business's competitive edge, it's imperative not to overlook this crucial component. While DEI may seem intricate, its significance cannot be overstated. Let's delve into the terminology to lay a solid foundation of understanding.

DIVERSITY - encompasses the practice of engaging individuals from various social, ethnic, and demographic backgrounds, fostering a rich tapestry of perspectives and experiences.

EQUITY - underscores the importance of fairness and equality in outcomes, acknowledging and addressing the unique needs of diverse team members.

INCLUSION - ensures equal access to opportunities and resources, fostering a sense of belonging for all.

Diversity represents the 'who,' while equity and inclusion represent the 'how.'

Now that we grasp the terminology, let's outline a strategic roadmap for developing a DEI strategy. There are seven key actionable steps:

1. Understand your labour market dynamics, both locally and nationally.

2. Solicit feedback from your team to gauge their perspectives on your current DEI practices.

3. Compare your existing DEI initiatives with industry benchmarks to identify areas for improvement.

4. Develop clear objectives and timelines to drive DEI progress.

5. Engage your team by transparently communicating your new DEI strategy and encouraging their input.

6. Provide comprehensive training to management to effectively implement DEI policies and procedures.

7. Initiate the implementation process and continuously monitor and evaluate outcomes for effectiveness.

Throughout this process it's essential to steer clear of common pitfalls such as gratuitous quota hiring. You may also like to consider appointing an Accountability Partner to oversee your hiring decisions and guard against performative diversity e.g., taking a tick box approach to the process. Your Accountability Partner can also help monitor progress and adherence and identify and mitigate unconscious biases.

Remember, your DEI policy is not only morally significant but also instrumental in bolstering talent acquisition, retention, and market share. Progressive DEI practices lead to profitability through your people which equals greater commercial success.

If you'd like to make positive change in your business today, I'm here to help and you can reach me at kayleen@ripple.net.nz or on 027 647 5000.