(gentle music)
- Over the past decade,
we've seen increasing implementation
of formal diversity, equity, and inclusion programs,
yet our goals remain far away
as efforts are largely too narrow in focus.
Programs typically focus on the talent aspect
rather than the broader view of business and society.
With the rise in social movements,
COVID 19, and the Great Resignation,
it is even more urgent now
for businesses to act as agents of change,
and the expectations for corporate advancement
have become more expansive in scope
to deliver across a company's talent, business, and society.
- For talent, stronger outcomes are expected.
Current challenges are rooted
in focusing only on leadership talent
and on broad demographic categories
that fail to recognize individuals' intersectional,
multidimensional needs.
- For business, there's an increasing recognition
that bringing a diversity, equity, and inclusion
lens to business practices
can unlock significant value via innovation,
better fit products, stronger value chains,
and addressing underserved communities' needs.
- For society, there's a growing pressure on companies
from all stakeholders, investors,
community, consumers
to advocate for social good, via advocacy,
philanthropy, convening, and mobilization of partners.
- Questions remain on how to deliver DE&I effectively
across talent, business, and society.
To make real progress,
companies need to shift the mindset from DEI as "do good"
signaling to move
and deliver a long-term sustainable advantage.
- Leaders need to amplify the talent impact,
expand beyond traditional DEI segments,
and recognize the complexity of identities
and changes in needs over time.
Individuals do not neatly fit
into discrete, broad, and static boxes of gender and race
that are the foundation of many programs today.
Instead, take an employee just entering the workforce,
as she advances in her career and her personal life,
she experiences planned and unplanned life changes
like starting a family or becoming a caretaker.
Leaders should address these evolving needs,
co-related with happiness and motivation
to create nuanced end-to-end solutions for their employees.
- Leaders also have an opportunity to unlock business value
with diversity, equity, and inclusion.
First, remove bias from operations,
for instance, by reviewing your sales and marketing strategy
for potential bias and customer targeting algorithms.
Second, innovate propositions to serve broader segments
like adapting products for physical disabilities
or offering solutions and care in a wider range
of languages.
Third, spearhead DEI in your supply chain.
Benchmark supplier diversity
set in the average targets for your supplier base.
Cultivate the next generation of diverse suppliers.
- Use society's ESG expectations to drive change
both within your organization's walls
and out to the broader community.
You can do this by revisiting DEI KPIs,
measure long-term inclusion indicators,
and expand metrics across the full employee life cycle.
Connect these KPIs to broader societal impact
and establish transparency to ensure accountability.
Make visible commitment to bold action,
ensure that all leaders are champions
and allocate sufficient resources to these goals.
Advanced advocacy,
educate employees on social issues,
and provide resources to enable supporting the community
like donation matching,
but more broadly, be a voice for social change publicly
and inspire, invest, and work with peers
to amplify your impact.