The Deal With DEI

Companies with inclusive cultures were twice as likely to meet or exceed financial targets, three times as likely to be high performing, and eight times as likely to achieve better business outcomes.

In recent years, diversity, equity and inclusion (DEI) has become a critical part of the workplace. Regardless of your industry, you’ve likely heard a great deal of conversation around the importance of DEI programs and policies and the role they play in a company’s culture.

According to a recent CNBC/SurveyMonkey Workforce Survey, nearly 80 percent of workers said that they wanted to work for a company that placed a value on DEI. While it’s clear that companies of all sizes should be developing and implementing DEI programs, the how’s and why’s can often be challenging and overwhelming.

Why Are DEI Programs so Important?

The most important reason to implement a DEI program is to ensure a workplace where all employees have access to the same opportunities. Doing so will help create a positive experience for your employees. However, there are several other benefits for implementing DEI programs.

Currently, the US is in the midst of what some are calling “the Great Resignation.” According to the 4th Annual Engagement and Retention Report from Achievers Workforce Institute, more than half of survey respondents said they would look for a job in 2021, up 20 percent from the previous 2020.

While salary, benefits, and growth opportunities still play a role in job searches, a company’s commitment to DEI is becoming more important. According to the 2021 Edelman Trust Barometer: The Belief-Driven Employee, 78 percent of respondents said that companies “accelerating their commitment to DEI is a strong expectation or a deal breaker when considering a job.”

Your organization’s DEI programs can also have a significant impact on the retention and engagement of your current employees. A diverse workplace with a culture of equity, inclusion, and belonging can help improve employee engagement. The Achievers Workforce survey revealed that more than half of employees would be more engaged if their company improved diversity and inclusion.

Finally, there are financial and performance benefits to DEI programs as well. A Deloitte study found that companies with inclusive cultures were twice as likely to meet or exceed financial targets, three times as likely to be high performing, and eight times as likely to achieve better business outcomes.

Getting Started

If your company has not yet implemented a DEI program it can be very difficult to know where to start. As you begin your DEI journey, there are a few important things to keep in mind.

First, remember that DEI work is an ongoing process, and one that will require long-term commitment. There is new data and information coming in regularly, and strong DEI programs are updated and adjusted regularly. You do not need to build your entire DEI program all at once – it’s absolutely fine to move thoughtfully through the process.

Secondly, remember that you will make mistakes and get things wrong — even the most well-intentioned companies and diversity professionals do. This is a learning process, and sometimes you will slip along the way.

Finally, remember that there will be challenging conversations throughout your work. In order to develop an authentic program that meets the needs of your employees and industry, you may discover things that surprise and disappoint you. While it might be difficult to learn these things, knowing them is a critical part of building a culture of inclusivity and equity.

Find the Right Resources

The best way to begin your DEI work is by examining the resources that already exist. While successful DEI programs vary widely in scope and structure, you can find a great deal of inspiration from other companies in your industry and from DEI professionals.

Below are a few places where you can find resources and tools that might help you build out your initial DEI plan:

• The Society of Human Resource Managers offers a variety of DEI Resources on their website, including a how-to guide, “How to Develop a Diversity, Equity and Inclusion Initiative.”

• The US Chamber of Commerce website includes a very helpful guide: “6 Essential Steps to Creating a Diversity, Equity & Inclusion Committee at Your Company.”

• Qualtrics, an experience management organization, provides another helpful resource with their “Ultimate Guide to DEI in the Workplace: 12 Steps Every Organization Should Take.”

Many infrastructure industries have organizations and associations who have already begun the work of improving DEI. For example, the Aerospace Industries Association, the American Public Transportation Association, and AGC: The Construction Association all offer information and resources on their websites. The Port of Seattle’s Office of Equity, Diversity, and Inclusion has a robust page that includes their Statement & Vision as well as a variety of helpful documents.

Three Things You Can Do Right Now

While the process of building a DEI program can be long, there are a few things you can implement relatively quickly that can have a big impact.

• Have a DEI program kickoff event: This is a great way to let your employees know you’re beginning the process of building a DEI program and to encourage them to offer ideas.

• Bring in outside speakers: Industry and trade groups will likely be able to connect you with both virtual and in-person speakers on a variety of DEI topics. They can also assist with follow-up activities such as roundtable discussions or additional materials.

• Offer professional development opportunities: There are many DEI training opportunities available, both through industry groups as well as at colleges and universities. Encouraging your employees to attend DEI training as part of your existing professional development program is a great way to begin moving your company forward.

Regardless of where you are in the process of building your DEI program, your actions will help you build a more diverse, inclusive, and safer workplace.

About the Author: Lisa Lark is a communications professional and content creator with more than 10 years of corporate and agency experience. Throughout her career, Lisa has supported, planned and executed communications projects for clients of all sizes across multiple industries. Motivated by a passion for storytelling, Lisa works closely with clients to find, develop, and deploy engaging and authentic narratives that will increase visibility, help with recruitment and retention and positively impact the bottom line. Her work has included projects in corporate branding & reputation, social media, employee communications, crisis communications, public relations and strategic planning.