In CSR-focused organizations, CSR has truly emerged as the buzzword synonymous with inclusivity. It wouldn’t be amiss to say that this is a megatrend affecting the procurement function right from the 2020s. As organizations are increasingly trying to incorporate social change, CSR initiatives are being uniquely positioned in the corporate decision-making processes and the recruitment process to promote D&I from the inside out. The primary aim of socially responsible organizations is to improve their accountability to their internal and external public. They strive to be more accountable to their employees, their patrons, and stakeholders amongst others. They also create initiatives that impact the society and environment positively and effectively. The CSR initiatives need to be aligned and integrated with the organization’s broader vision, goals and mission statements and support the D&I of the organization.
Defining baseline and outcome metrics can be used to evaluate the organization’s progress in terms of CSR initiatives. Supporting socially responsible organizations that promote D&I can also go a long way in strengthening an organizations’ image in the public eye.
An integral key component of a thriving and successful modern-day organization is D&I. While individuals belonging to different backgrounds, ethnicities, ages, genders, sexual orientations and abilities constitute the diverse organizational landscape, inclusion goes beyond just a mere representation of the above-stated. It extends to making each individual feel respected, valued and empowered. It encourages each individual to contribute according to their unique perspectives and skill sets.
Needless to say, diverse and inclusive workplaces harbour a lot of positivity. They augment decision-making, improve employee engagement, and foster innovation and all these factors jointly contribute towards enhanced business performance. With diversity and inclusion being embraced in the workplace there is
- An increase in creativity and innovation – Employees from different backgrounds bring in different perspectives and experiences which increases innovative ideas and creative problem-solving.
- Decision-making is improved – the chances of groupthink are considerably minimized if not completely eliminated. Decisions are evaluated from different perspectives and analyzed and better outcomes emerge thus ensuring better business outcomes.
- An increase in employee engagement and retention- When every individual feels respected and valued, their satisfaction and commitment levels towards the organizations becomes higher. This leads to higher productivity, and lower turnover rates, and ultimately saves the company costs for training and recruitment.
- The market reach expands and customers are satisfied – with the inclusion of a diverse workforce the companies are better equipped to understand and respond to the needs of different customers. This enhances customer loyalty and satisfaction. What then should be the key attributes of a D&I strategy? For a starter, a strategic and holistic approach must be adopted. Clear goals and objectives must be in place.
- Measurable targets related to diversity representation, environmental sustainability, community involvement, employee engagement, environmental sustainability and many more should be established and laid out. Once the desired outcomes are stated by the organization it is easy to align their efforts and track their targets towards achieving diversity and inclusion.
- Leadership commitment and accountability should be fostered. The top management and the leaders of an organization must make efforts to embed D&I into the corporate fabric. Their commitment to this cause must shine through bright and strong. This can result in meaningful change in the organization.
- Employee resource groups and affinity networks can be created. Employees will get a common platform to come together, show their support and work constructively. A sense of belonging, opportunities for mentorship and contribution of the employees towards inclusive policies can be initiated. Employees can drive positive change.
- Unconscious bias training can be implemented – Decision-making that is perhaps based on certain biases albeit unconsciously and unintentionally can be addressed. Training programs to make the employees aware of these unconscious biases can prove to be very useful. Employees can be educated and trained on the strategies to do away with these biases. The requisite knowledge and skills for an inclusive workplace environment can be imparted.
- Engaging with external stakeholders to drive positive change can be implemented. Collaborative partnerships to address social and environmental issues can be forged. Sustainable business practices can be adopted. A successful, diverse and inclusive workplace makes a positive impact on society. By prioritizing diversity and inclusion, businesses can enjoy a combination of tangible as well as intangible benefits.
By prioritizing diversity and inclusion, businesses can enjoy a combination of tangible as well as intangible benefits. A quick recap of these as mentioned above would be – An enhancement in innovation and creativity, a marked improvement in decision-making and problem-solving, an enhancement in employee engagement and retention, an expansion in market reach and customer satisfaction, access to a broader talent pool, heightened brand perception and increase in stakeholder trust are a few mentioned here, amongst a host of other advantages.
Another important aspect that has emerged is the compliance of an organization with the legal and regulatory requirements related to diversity and inclusion. Businesses therefore can mitigate legal risks and minimize or avoid the damage to their organizational reputation due to noncompliance. Organizations must offer more than lip service though, and actually empower individuals to contribute their unique viewpoints and talents to the organization.
An inclusive culture attempts to create psychological safety for its’ employees. Individuals feel free to express their opinions, take risks without the fear of feeling judged or reprimanded. The organizational leaders create open and transparent communication. This goes a long way in building trust and empowering employees.
The leadership also takes care to impart the necessary training needed. These programs aim at raising awareness about biases that may creep in unconsciously, they promote cultural competence, and empower and equip employees and the management to navigate the tricky territory of the challenges that come in the way of a successful D&I corporate landscape. This investment in training by organizations will help create a positive culture and also train employees to champion the cause of diversity and inclusion. The organization should also attempt to create inclusive policies and practices.
Some aspects of this could be the implementation of transparent recruitment and promotion processes, having access to flexible working systems, having access to the necessary resources and support networks. Employee resource groups can be encouraged. These ERG’s can empower employees to make positive contributions towards the organizational development and society. Recognition and celebration of diversity is also important.
Various initiatives can be undertaken to achieve this. Public forums within the company can be created to announce meritorious employees and their achievements, company newsletters can mention them. This will drive across the strong message that diversity is celebrated. The leaders and top management must ensure that D&I remains a top priority in the organization, once it is embarked upon.
The starting step could be the recruitment process, where candidates could be sourced from diverse channels and create a varied talent pool. Post the hiring proper onboarding and training can be imparted. Employee contributions can be rewarded and recognized. This goes a long way in creating a positive brand image.
The true measure of success is assessing the impact of the initiatives undertaken by the organization. After defining the clear objectives and outcomes, measurable indicators and targets must be set. Conducting a regular data analysis through the collection of relevant data is also important. Post the analysis taking corrective actions and refining the strategies can also be done.
Communicating progress and celebrating success is of paramount importance in a D&I corporate culture, an inclusive workplace is a breeding ground for positivity. The brand image is enhanced and the workforce is more engaged too. A successful and forward-thinking organization must blend in corporate social responsibility and diversity and inclusion effectively into its business practices. The full potential of CSR and D&I when unlocked leads to enhanced organization and social progress.
