Now, more than ever, organizations must foster a more diverse, equitable, and inclusive work culture. Creating a more equitable work organization isn’t just the right thing to do, but is also an important business decision.
A 2019 report from consulting firm McKinsey & Company proves the business case for workplace equity, by illustrating how equitable companies are higher-performing companies. The report cites specifically that organizations with executive teams in the top quartile for gender diversity are 23% more likely to achieve above-average profitability, as compared to organizations in the fourth quartile. The report also finds that the more that an organization demonstrates equality at the executive level, the better the business performance.
To further drive organizations to achieve diversity, equity, and inclusion (DEI) initiatives, some jurisdictions are making it mandatory, as recently seen with the state of New York. The question employers should be asking themselves then, is how do you create a more equitable work culture?
An article by the Harvard Business Review outlines seven steps employers should take.
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