In the wake of the #MeToo movement and Starbuck’s mandatory unconscious bias training day, organizations have become more and more concerned with and focused on offering more diverse and inclusive work places and inclusive work spaces.
Yet, when it comes to diversity and inclusion (D&I) inside the modern-day workplace, statistics show that there’s still a long way to go … but that it will be worth it to everyone involved in the long run.
Here are three statistics about D&I in the workplace that you must know about.
41% of Managers Claim They’re Too Busy to Implement Diversity Initiatives
According to one survey, 41% of leaders at Fortune 1000 companies claimed that they weren’t implementing diversity initiatives because they were “too busy.” So, executive teams might want to invest in hiring consultants or internal teams to help them implement their D&I initiatives if they want them to take off and gain traction. Even if they can’t implement everything on their own, they should hire the appropriate teams and support to do so.
20% of Companies Don’t Have Women Leaders, and Nearly 50% Don’t Have People of Color
Per Quantum Impact research, most organizations don’t have equal representation of women or people of color on their leadership teams. And these organizations are missing ample opportunities to enhance their bottom lines and brand growth because companies in the top quartile for racial and ethnic diversity are 35% more likely to have returns above national industry medians and enjoy three times more cash flow per employee when compared to their less diverse peers.
Additionally, more diverse companies are 70% more likely to capture new markets as they grow. Overall, more diverse and inclusive companies with diverse leadership are more successful and generate more revenue.
67% of Job Applicants Value Diversity, and 57% of Employees Believe Employers Should Be Doing More to Promote Diversity
Glassdoor research has continually shown that job candidates seek employers that value D&I inside the workplace. And Pew Research findings show that 8 in 10 Americans view racial and ethnic diversity in the workplace as at least somewhat important. And that many cite diverse perspectives and equal opportunity as important reasons to increase workplace diversity.
So, if your organization wants to continually attract and hire top talent in the future, you’ll want to implement a more diverse and inclusive workplace as soon as possible.
Essentially, implementing D&I initiatives across your organization will benefit its bottom line, too. However, you’ll want to implement them with care.