Building bridges between Diversity and Inclusion and Enterprise Data.
A reflection on the relationship between diversity and inclusion and data-driven initiatives.
Diversity and inclusion in the workplace have been widely promoted in recent years, to the point where it may appear unnecessary to justify them further.
However, as we face a global crisis that may hinder these advancements, it is critical to remember that, rather than being a “luxury,” diversity can be the key to business resilience.
The development of diversity and inclusion policies brings many benefits, ranging from improved performance to a significant increase in innovation.
According to a recent survey conducted by global management consulting firm McKinsey, ethnic diversity within companies increased the likelihood of “superior financial performance relative to the local industry average” by an average of 36% in 2019.
Gender diversity yielded a similar result, with diverse organizations performing a quarter better than the local industry average.
Thinking strategically about Diversity & Inclusion as a Data Leader.
Inclusion and diversity have risen to the top of many companies’ corporate agendas in recent years. It is a topic that will one day receive the same attention as sustainability does in business today.
Awareness of diversity and inclusion’s roles in preventing decision-making bias and data in ensuring organizations treat people fairly may increase. However, a collaboration between teams focused on diversity and teams focused on data is generally minimal.
It’s no secret that the more diverse the workforce, the richer the business results, with a clear link between Diversity and Inclusion (D&I) and business success. The best first step has already been taken for leaders who are already working to increase diversity metrics through hiring practices. The next step for them is to create a fully inclusive culture.