Cultivating diversity and inclusion for a better future
VON NEWS: In our busy lives today, we are primarily exposed to two ecosystems – home and work. Our homes are normally synonymous with refuge, security and comfort. On the other hand, the workplace may not immediately conjure up the same feelings. Ever wondered why?
One of the underlying reasons is that at home, most of us feel safe to just be ourselves. At home, more often than not, we tend to be comfortable with voicing what we think or feel and seem to have more control over our choices and subsequent decisions made. If we were to try and apply this to our workplaces, individuals on a team want to feel empowered to express themselves with freedom and work in an environment where differences in perspectives or opinions aren’t derided but welcomed.
Diversity and inclusion are often used interchangeably. While hiring a diverse workforce has now become a mandate for a lot of companies, employees want to feel a sense of affiliation and belonging to their teams, feel welcome and valued and participate in decision making. And the same need for inclusion is relevant to gender as a strand of diversity as well.
According to recent studies, even though women make up about 48 percent of India’s population, a huge gender disparity continues to exist in Indian workplaces with only 30 percent representation of women in corporate India. Out of this, a dismal 11 percent are in leadership positions. This huge gender disparity can be attributed to several socio-economic factors, some personal and some professional reasons. In the professional realm, factors such as lack of direction and proper counselling for a suitable career path and growth, absence of support to assimilate back into the role and career after a maternity break, the pay gap, lack of women representation at senior management positions have all contributed to the imbalance.
The change has to start from the first interaction a potential woman employee has with an organisation. Gender neutral job descriptions and strengthening interviewer diversity by having more women leaders as hiring managers, can positively impact the diversity quotient. Experts say, one of the biggest deciding factors for a woman candidate to accept a job is the presence of a woman on the interview panel.
This goes a long way in reinforcing confidence about a company’s commitment to diversity. Furthermore, leaders should champion D&I from the top through regular interactions and workshops that educate people on identifying and addressing gender biases. Other important factors are flexible HR policies that support and empower working parents and provide a sense of community at the workplace.
To further create a sense of inclusion, women in the workforce want challenging work, continuous feedback for their development and their achievements to be acknowledged. Even today, women often need to be nudged to apply for senior roles even when they qualify or over qualify for the role. Having women leaders at the top normally has a domino effect as it encourages more women to follow their role models. Commitment to building a diverse workforce through people practices needs to be an imperative for the executive leadership team. This helps drive conversations and action towards gender balance, but more importantly a culture of inclusion in daily actions across the organisation.
1.Attract and retain talent – An inclusive working culture boosts employee morale and productivity. This can be measured through employee surveys as well as via tangible business outcomes. This can further minimise the cost of attrition, including training costs.
2.Encourage creativity and innovation – Having a diverse workforce means that the company and ultimately its customers can benefit from different points of view and approaches coming from people with different life experiences. This translates into greater empathy with varied customer segments and an enhanced customer experience.
3.Increase productivity – Diversity in terms of gender and ethnicity is vital as it helps to tap into the potential of varied talent segments, which in turn is useful in solving challenging business problems. Studies show that having women on teams can help improve team processes and boost group collaboration.
4.Positive branding – A diverse workforce reflects a company’s positioning in the market as being employee friendly irrespective of gender, sexual orientation or ethnicity. This is particularly useful in connecting with stakeholders, potential talent pools and customers from different walks of life.
5.Increased profitability – According to McKinsey and several other studies, the most gender-diverse companies are more likely to witness above-average profitability. Investing in diversity is not just the right thing to do, it makes business sense.
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