Improving your workplace is an ongoing process. Whether it’s improvement to recruitment and retention, processes, or culture, there are always ways to optimize your workplace. There is one way to improve workplace culture that will give you and your employees far reaching benefits that can spark success in and outside of your business. It starts with your diversity, equity, and inclusion (DEI) policies. Using guidelines to help you attract and hire a diverse staff and provide an inclusive and equitable workplace reduces turnover, improves job performance and strengthens team dynamics. So, if you want to know how to improve workplace culture, look at your diversity, equity, and inclusion (DEI) policies.
What Is DEI and Why Does It Matter?
Diversity, equity, and inclusion policies seek to make the workplace a more diverse place, ensure processes are impartial and fair, and provide people with a sense of belonging. In other words, DEI policies make work a better place for everyone! Here’s how:
DEI efforts have tangible benefits for your workplace. When you start assessing your workplace for DEI and implementing DEI-based policies you’ll discover ways you can improve immediately and see the big picture for future growth. Not only will you be current and compliant with policy to meet the needs of your existing staff, you’ll have a plan to reach vast numbers of great new employees.
How to Improve Workplace Culture Through Your DEI Policies
Employers who foster inclusive company cultures cite higher employee satisfaction as one of the benefits. When employers celebrate differences through DEI work you’ll help employees feel empowered and valued, giving them better opportunities to be innovative and productive.
You’ll also improve your company’s (already stellar) reputation, when you undertake DEI efforts, because positive DEI culture and good policy enhance your reputation, attracting new types of business and clients who value the same.
From a strictly good business practice point of view, a number of studies have linked diverse workplaces to increased profits and productivity. When your business reflects the world we live in, it’s also more reflective of the people you’re selling to. Here’s what McKinsey&Company has discovered:
Companies with more ethnically and culturally diverse boards are 43% more likely to experience higher profits. While companies in the bottom 25% for gender, culture, and ethnic diversity are 29% less likely to reach above-average profitability. - Delivering Through Diversity, McKinsey&Company
A University of Waterloo study found that only a 1% increase in diversity led to a 2.4% increase in revenue and a 0.5% increase in productivity, according to an analysis of Statistics Canada stats.
There are a multitude of benefits to be had from a positive and proactive approach to DEI. From higher staff morale, to building a reputation and increasing your bottom line, it makes sense to get started working towards or improving DEI in your workplace.
How to Improve Workplace Culture?
If you haven’t completed a DEI assessment yet, now is the time to start. It’s the right thing to do and it will benefit your business. If you’re overwhelmed by the thought of getting started there’s valuable, local resources available to make it easier.
So if you’re wondering how to improve workplace culture through diversity, equity, and inclusion efforts, visit the DEI for Employers page to learn more about DEI. You’ll find tools to help you assess and understand DEI policies and resources to improve accessibility in recruitment and retention. Plus, you’ll get help to build your team with underemployed workforces such as newcomers to Canada and people with disabilities.
External links are provided as informational resources only and are not necessarily endorsed by Ontario East.