Study: Businesses Embrace DEI for Innovation, Reputation and Bottom Line

A new generation of workplace culture is emerging. DEI (Diversity, Equity, and Inclusiveness) initiatives are now being treated by businesses as more than just a moral obligation. DEI can create strategic business decisions that benefit employee performance and company reputation.

SHL’s 2023 Global Talent Trends survey revealed the benefits of a diverse, equitable, and inclusive workplace, many of which are the building blocks for organizational success. That being said, only 44% of survey respondents consider DEI a top hiring priority.

DEI initiatives can create organizational success in many forms:

• Improved innovation, creativity, and decision-making: Diverse teams bring a variety of perspectives, fostering creativity and innovation in problem-solving situations.
• Corporate reputation: Prioritizing and promoting diversity and inclusion aligns with social responsibility, enhancing corporate reputation and appealing to socially conscious stakeholders.
• Inclusive culture and collaboration: A workplace of inclusion cultivates collaboration. When employees feel welcomed to share their ideas and opinions, teamwork improves, leading to more effective collaboration.

The survey results reveal a building recognition of the value added by DEI in the majority of organizations, though there is much room to improve in terms of adoption.

• 65% of organizations actively promote DEI
• 59% have a written commitment to DEI

Neurodivergent individuals are seen as valuable employees by very few (24%) organizations. Less than half of survey respondents (41%) have an assessment strategy designed to support the success of their neurodivergent candidates. Around the same amount (47%) have a plan to provide accommodations during their hiring process.

Organizations benefit from implementing regular diversity and inclusion surveys to obtain feedback for continuous improvement and allow them to adapt and refine their strategies based on employees’ opinions.

Companies are investing in DEI at an increased rate. Around two-thirds (67%) of organizations are retaining or increasing their DEI budgets, allowing for the development and implementation of present and future DEI initiatives. To help cultivate an inclusive leadership culture, organizations can implement training programs on topics like unconscious bias and cultural competency.