D&I is one of the best indicators of the company's capacity to tackle tomorrow’s challenges. It goes beyond good demographic parity results, to choices that can but enhance business innovation and development through strong D&I commitments.
Promoting diversity and inclusion in companies is both an ethical and business commitment. Tackling teams’ blind spots as well as system flaws will require a culture reset that is far more engaging than a compliance-oriented approach.
High-performing teams are both cognitively (how we approach problems and think about things) and demographically (age, race, gender identity, sexual orientation, physical resource) diverse. Enabling people to reach their full potential with a clear D&I strategy is thus one of the best investments a company can make for long-term performance.
To face the major challenges ahead, companies will have to boost innovation through diversity. Indeed, mixing diverse mental frameworks for problem solving will lead to disruptive and ambitious ventures.
– To what extent are founders and managers committed to diversity and inclusion?
– Do founders and teams wish to challenge the status quo and take personal responsibility in for change?
– Has the company written a D&I policy / charter & defined dedicated HR processes?
– How does the company educate its teams about D&I and cognitive biases?
– Does the company implement learning strategies and training programs for deconstructing biases?
– How is the company using data to manage its D&I issues?
Companies can definitely enlarge their customer bases through inclusive business models.
Being aware of the traditional business bias in addressing a market (e.g. through focus groups with underrepresented individuals) is a strong asset to depart from them and design innovative ways to business development (e.g. target new customers, create new products,…)
Far beyond a costly compliance topic, D&I is a source of innovation serving the business competitiveness.
– Is the company aware of D&I challenges connected to its services or products?
– Does the company’s services or products have an impact on communities (end-users or other stakeholders) who are traditionally excluded from the market?
– How are the company’s services or products perceived by traditionally underserved communities?
– How does the company’s services or products promote D&I?
People feel included when they are treated equally, with no favoritism. Thus, wealth sharing choices are critical to build a bold sense of belonging into a company.
Money empowers and builds self-esteem and recognition. Then, sharing the benefits of the company’s growth with its key stakeholders is core to its D&I policy and productivity, not just a good governance practice.
– How is the corporate salary scale defined and publicly communicated?
– How is the business wealth sharing scheme defined (e.g. prices’ breakdowns)?
– Are employees part of the corporate ownership? Do employees benefit from corporate’s shares?
– What multiple is the highest compensated individual paid, including bonus, as compared to the full-time lowest paid worker?