While the importance of a diverse and inclusive workforce is probably discussed more now than at any other time, awareness doesn’t always result in change. Action starts with resources and a commitment from leadership at the top. And when done right, it’s a wise move and an incredibly worthwhile investment.
So why is moving the needle on diversity and inclusion so difficult? What’s the key? It begins with being intentional about strategies and relentless in their execution. Success follows with a sustained commitment and investment in resources and people. And it’s never too late to get started. In fact, society is becoming even more diverse. More than half of children under age 5 belong to minority populations today. More than ever, it’s imperative that every organization’s workforce reflects such evolving demographics.
Diversity’s impact on company performance
Embracing diversity and inclusion as a way of doing business requires making it a core business objective and an important value-based principle. Populations inclusive of each individual’s unique gifts and traits create a culture open to a wider range of ideas. That drives organizational performance, including how companies go to market and how they ensure they’re providing the best products and services to customers. Moreover, creating a diverse and inclusive culture establishes an environment that attracts top talent.
In addition to starting with a commitment from leadership at the top, successful diversity and inclusion strategies integrate across all areas of an organization. Talent acquisition and human resources must actively work with partners across the business to attract and retain talent. And recruiting and retention strategies should work in concert with each other in conjunction with performance development and succession planning to ensure all dimensions of diversity are thoughtfully considered and flourish.
Positioning an organization for success
Many larger companies actively enhance cooperation, camaraderie and visibility for numerous diverse populations across their organizations through business resource groups. Ranging from people who share similar cultural backgrounds to experiences, the groups provide a platform for engagement and formalizing a voice across an organization, whether furthering the interests of women, military veterans, African-Americans, Latinos, the LGBT community, or others.
Diversity and inclusion are essential pathways to high performance. They shape how an organization interacts within its community and excels. Consider how you can harness the power of a more diverse, inclusive and engaging workforce, and supply chain to position your organization — and your people — for success.
The Huntington National Bank, Member FDIC.
