Creating a Culture of Diversity, Inclusion and Belonging

Diversity, inclusion and belonging are not new concepts, and neither is the business case for why organisations need to focus on them. 

Today diversity is a given - we know it is good for business, for solving complex problems, for helping us win the war on talent and being more responsive to our customers. But for real change, we need to ensure that we are inclusive, and that people feel they belong, that they feel valued for their contribution and that everyone has access to opportunities. That is the ‘secret sauce’ that ensures that people feel part of an organisation, and it impacts their engagement, their wellbeing and their satisfaction.

The business community have worked hard to embrace diversity within their workplaces and create an environment where everyone, regardless of gender, sexual orientation, cultural background, disability and so on, can flourish and succeed.

Today more than ever harnessing diversity and inclusion is a strategic imperative as we move through a time of significant disruption through globalisation, digital and green transitions, widespread disquiet due to the lack of resources, the strain of the pandemic, wars in Ukraine and Gaza, and economic uncertainty which has left people feeling disenfranchised, marginalised or left behind. We have seen an eroding of some of the hard-won progress that has been achieved reminding us that we need to continue this work and ensure it is advanced.

Without attention and focus progress can be undone as complexity, competition, and change create new challenges as well as opportunities for business.

Today’s emerging talent and the future leaders of our organisations join our culturally diverse, multi-generational workforces to make them among the most diverse in history, and they express their desire for a workplace that reflects and respects that diversity and fosters inclusion. Increasingly stakeholders from employees to investors are driving action in this area as they expect organisations to consider the impact of such matters on their business models. 

For example, Legal & General Investment Management, one of the UK’s biggest fund management groups, failed to support the re-engagement of circa 100 chairs in 2018 because they failed to boost the number of women on their boards. There is also a clear recognition of the value to business in attracting and retaining quality employees and the importance of diversity, inclusion and values to jobseekers. Randstad , for example, found that 41% of jobseekers would not join an employer if they did not have a diverse and inclusive workplace. 

By embracing diversity, inclusion and belonging organisations can better understand and meet the needs of their diverse employees, potential employees, customers and other stakeholders. This ensures the retention of key talent, attracts investment and brand loyalty alongside the innovation and productivity gains.