Diversity - Important For Business To Ensure Inclusivity

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Diversity – Important For Business To Ensure Inclusivity

26 Dec 2022
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Diversity And Inclusion In The Workplace

Businesses are increasingly concerning themselves with diversity and inclusion in the workplace. The concept has found ready acceptance in organizations as they look to go beyond discrimination in recent times. The legal and moral compulsions are now being joined by a notion of organizational effectiveness. Diversity in the workforce is leading to an increase in organizational effectiveness by lifting morale, opening access to new segments of the market, and an increase in productivity. In other words, diversity and inclusion are good for businesses and organizations. As diversity and inclusion in the workplace find acceptance, organizations are gradually realizing that the potential to achieve better performance is enhanced through the recognition of perspectives in the decision-making process. Thus, Diversity and inclusion are now fundamental business tools in modern organizations. The implementation of a robust diversity and inclusion agenda into the business plan of the organization is still a challenge. There are conventions and preconceived notions that need to be addressed and discarded. A better understanding is required about the real meaning of diversity and inclusion is.

Diversity, and inclusion are now fundamental business tools in modern organizations. The implementation of a robust diversity and inclusion agenda into the business plan of the organization is still a challenge.

What Is Diversity?

Diversity in business parlance can have different dimensions. At the workplace, it means the willingness of the organization to employ a diverse set of people that reflect the society in which it exists and operates.

According to a Gallup report, Diversity represents “the full spectrum of human demographic differences – race, religion, gender, sexual orientation, age, socio-economic status or physical disability. A lot of companies consider different demographics as well – lifestyles, personality characteristics, perspectives, opinions, family composition, education level or tenure elements of diversity, too.”

Determining diversity is not a simple process. While Diversity refers to all the elements that make individuals unique, individuals are unique from one another and we tend to adopt broad social categorizations such as gender, race, age, etc.

As is commonly assumed, diversity in the workplace is about harmonizing racial, national, gender, or class representation from traditionally underrepresented identity groups. However, diversity goes beyond and refers to the multifarious perspectives and approaches to work these groups bring.

As is commonly assumed, diversity in the workplace is about harmonizing with traditionally underrepresented identity groups. However, diversity goes beyond and refers to the… Continue reading.

What Is Inclusion In The Workplace?

Inclusion is often used in conjunction with diversity. However, it is essentially a different concept. The Society for Human Resource Management (SHRM) defines inclusion as “the achievement of a work environment in which all individuals are treated fairly and respectfully, have equal access to opportunities and resources, and can contribute fully to the organization’s success.” As Jesse Jackson, Politician and Civil Rights Activist once said “Inclusion is not a matter of political correctness. It is the key to growth.”

Diversity and inclusion go hand in hand and have the power to create a significant change in the organizational culture and employee experience.

It is good for the business to practise diversity. However, that needs to come with a culture of inclusivity where opinions, perspectives, and experiences are respected while making decisions and policies. Citing a Harvard Business Review article, “In the context of the workplace, diversity equals representation. Without inclusion, however, the crucial connections that attract diverse talent, encourage their participation, foster innovation, and lead to business growth won’t happen.”.

According to Society for Human Resource Management (SHRM) defines inclusion as “the achievement of a work environment in which all individuals are treated fairly and respectfully, have equal access to opportunities and resources, and can contribute fully to the organization’s success.”

The Need For Diversity And Inclusiveness At The Organization

Globalization has led to communities and organizations that are increasingly heterogeneous. Cross-border and cross-cultural interactions are on the increase. Thus, there is a need for effective engagement in diversity and inclusion. Individuals and groups should be brought into the mainstream of business functioning and decision-making. There is also a need to discard unconscious bias that may manifest in behavior and can lead to discrimination. This would lead to a cultural change and lead awareness amongst employees at all levels. Ultimately it would lead to the realization of business goals; and a successful transition in the promotion of equality and social justice in the workplace.

This would lead to a cultural change and lead to awareness amongst employees at all levels. Ultimately it would lead to the realization of business goals; and a successful transition in the promotion of equality and social justice in the workplace.

The Underlying Benefits of Diversity And Inclusivity In Business

Why should businesses be concerned with diversity?

Diversity and inclusion are now an integral part of business ethics. They can have a sustainable positive impact on the health and well-being of individuals, businesses, and society. To future-proof organizations, a structured D & I process can transform business performance and lead to a major contribution through a positive perception of ethical approach.

Some of the ways diversity and inclusion have a positive impact on businesses are discussed below in brief.
- Fosters innovation and creativity – Diversity leads to people with varied backgrounds, skills, experiences, and knowledge. This tends to increase innovation and creativity at the workplace which in turn helps in the expansion of ideas. As employees feel included, the comfort level to share ideas comes for that ultimately helps the business in the long run.
- Widening skillsets of employees – Diversity brings to the table newer skill sets that may be unique to individuals. Inclusive and diverse environments allow for wider perspectives to be integrated while brainstorming, problem-solving, and developing new ideas in business.
- Happier workforce – D&I practice allows for a harmonious environment that makes employees feel happier to be at work. As employees thrive at their work, it leads to a positive impact that reflects in the success of the business.
- Diverse businesses are high performing – Past research confirms that companies that practise D&I in their workforce tend to outperform financially in comparison to others. This has been corroborated through reports published by McKinsey & Company who make a strong case for D & I based on their findings.
- Enhanced productivity – Diverse teams tend to share their experiences and skills. Mentoring and co-working allow other team members to learn and work well together. The exchange of ideas leads to thriving businesses as they grow in an atmosphere bereft of fear and prejudice.
To future-proof organizations, a structured D & I process can transform business performance and lead to a major contribution through a positive perception of ethical approach. Go through the ways diversity and inclusion have a positive impact on businesses.

MBA At SOIL – Leading The Way To A Diverse And Inclusive Future

SOIL Institute of Management was established in 2008. Top executives of corporations and spiritual thinkers got together to co-create an MBA course to build Leaders with character, competence, and enthusiasm. The underlying belief at SOIL is that businesses, in the course of their routine operations can create social good, ecological balance, holistic development, and healthy international relations if they choose to act in inspired ways. Thus, the MBA courses at SOIL were designed with a learning methodology that inculcated inspired thinking. This in turn inspired actions in the business leaders of the future who would contribute to the triple bottom line of social well-being, ecological sustainability, and shareholders.

Diverse contexts allow learning about newer paradigms of origins and skills. Enabling communication and social consciousness through innovative and game-changing pedagogical methods has led to learning that teaches an appreciation of diversity and inclusiveness. Whether the Social Innovation Program, the mentoring, the field trips, or the Himalayan Retreat – All the interventions are integrated into a curriculum that integrates liberal arts with conceptual learning.

The idea of keeping the management learners to be grounded and connected to society inculcates a sense of social belongingness in their minds. The varied learning amongst diverse peers creates a positive learning environment on campus and develops confidence.

SOIL Institute of Management hopes to make a meaningful contribution to the corporate world and society as a whole through its one-year MBA and two-year MBA programs.

The MBA courses at SOIL were designed with a learning methodology that inculcated inspired thinking. This in turn inspired actions in the business leaders of the future who would contribute to the triple bottom line of social well-being, ecological sustainability, and shareholders.

To Conclude

Organizational culture in modern organizations cannot be driven by a top-bottom approach. Engaging employees requires recognition of the need for diversity and inclusion. Businesses are recognizing employees as key resources who need to be engaged. This requires businesses to drive diversity to ensure that all can feel included. Global workplace diversity can be leveraged to harness the human potential that lies dormant in organizations. Businesses need to have strategic knowledge and implementation experience to unleash it. This is an ongoing process and requires constant efforts from organizational stakeholders to ensure a diversified and inclusive workplace.

The time is ripe for organizations to embrace D & I in their company culture in all the right ways.

Global workplace diversity can be leveraged to harness the human potential that lies dormant in organizations. Businesses need to have strategic knowledge and implementation experience to unleash it. The time is ripe for organizations to embrace D & I in their company culture in all the right ways.

FAQs
What is “diversity” in the workplace?

Determining diversity is not a simple process. While Diversity refers to all the elements that make individuals unique, individuals are unique from one another and we tend to adopt broad social categorizations such as gender, race, age, etc.

As is commonly assumed, diversity in the workplace is about harmonizing racial, national, gender, or class representation from traditionally underrepresented identity groups. However, diversity goes beyond and refers to the multifarious perspectives and approaches to work these groups bring.

What is “inclusion” in the workplace?

Inclusion is often used in conjunction with diversity. However, it is essentially a different concept. Society for Human Resource Management (SHRM) defines inclusion as “the achievement of a work environment in which all individuals are treated fairly and respectfully, have equal access to opportunities and resources, and can contribute fully to the organization’s success.” As Jesse Jackson, Politician and Civil Rights Activist once said “Inclusion is not a matter of political correctness. It is the key to growth.”

Why do you need diversity and inclusion in the workplace?

Diversity and inclusion are now fundamental business tools in modern organizations. The implementation of a robust diversity and inclusion agenda into the business plan of the organization is still a challenge. There are conventions and preconceived notions that need to be addressed and discarded. A better understanding is required about the real meaning of diversity and inclusion is.

Why should businesses be concerned with diversity?

Diversity and inclusion are now an integral part of business ethics. They can have a sustainable positive impact on the health and well-being of individuals, businesses, and society. To future-proof organizations, a structured D & I process can transform business performance and lead to a major contribution through a positive perception of ethical approach.

What are the ways diversity and inclusion have a positive impact on businesses?

Fosters innovation and creativity – This tends to increase innovation and creativity at the workplace which in turn helps in the expansion of ideas.

Widening skillsets of employees – Inclusive and diverse environments allow for wider perspectives to be integrated while brainstorming, problem-solving, and developing new ideas in business.

Happier workforce – As employees thrive at their work, it leads to a positive impact that reflects in the success of the business.

Diverse businesses are high performing – This has been corroborated through reports published by McKinsey & Company who make a strong case for D&I basis their findings.

Enhanced productivity – The exchange of ideas leads to thriving businesses as they grow in an atmosphere bereft of fear and prejudice.

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What is “diversity” in the workplace?

What is “inclusion” in the workplace?

Why do you need diversity and inclusion in the workplace?

Why should businesses be concerned with diversity?

What are the ways diversity and inclusion have a positive impact on businesses?

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