Copy of Embracing Global Diversity, Equity & Inclusion: A Pathway to Organizational Success and Social Impact

Iqra Usman

In today's interconnected world, the imperative for organizations to embrace Diversity, Equity, and Inclusion (DEI) has never been more pressing. The adoption of the "2030 Agenda" by all 193 member countries of the United Nations underscores a global commitment to fostering inclusive societies and sustainable development. Six out of 17 Sustainable Development Goals (SDGs) specifically target DEI, recognizing its pivotal role in building effective, accountable, and inclusive institutions.

Forward-thinking organizations are recognizing the significance of serving all stakeholders, including customers, employees, suppliers, regulators, shareholders, and society at large. They understand that long-term sustainability hinges on creating equitable and inclusive environments that foster innovation, productivity, and social responsibility.

Research from McKinsey & Company highlights the tangible benefits of prioritizing diversity within organizations. Companies with greater gender diversity were found to be 25% more likely to experience above-average profitability, while those with greater ethnic and cultural diversity were 36% more likely to achieve the same. As stakeholders become increasingly diverse and interconnected, organizations must adapt by fostering diversity and inclusion within their teams, supply chains, and operational processes.

Global Diversity, Equity & Inclusion Benchmarks (GDEIB), a set of standards that guide organizations worldwide in managing diversity and fostering inclusion. These benchmarks provide a roadmap for organizations to assess their current state of DEI, set goals, and measure progress. Aligned with key SDGs such as quality education, gender equality, decent work and economic growth. The GDEIB empowers organizations to create more equitable, better-functioning institutions that confront systemic barriers and promote trust, acceptance, and safety for all.

Embracing GDEIB standards offers a myriad of benefits for organizations:

Contributing to the Greater Good of Society: By creating fair and respectful environments that embrace individual differences, organizations contribute to building a world where everyone can enjoy peace, prosperity, and a high quality of life.

Improving Organizational Performance: Organizations that prioritize DEI are better positioned to achieve their strategic goals, attract diverse talent, build high-performing teams, and foster inclusive leadership. By leveraging a diverse range of backgrounds and skills, they enhance creativity, innovation, and problem-solving capabilities while increasing engagement, motivation, and productivity.

Enhancing Reputation and Minimizing Risk: Prioritizing DEI enhances an organization's reputation as an employer of choice and minimizes risk by ensuring compliance with legal requirements and promoting fairness and equality in the workplace.

GDEIB standards serve as a valuable tool for organizations to assess, strategize, and measure progress in managing diversity and fostering inclusion. By championing these standards, organizations not only enhance their own success but also play a pivotal role in driving positive social change and creating a more equitable world for all.