2012 Workplace Trends Report: Inclusive Workplaces
ABSTRACT: Not only are the demographics of our country changing, but the value we place on having a diverse workforce is changing as well. Creating an inclusive culture and maximizing a diverse population is more important than ever. In fact, a 2005 study by Timmermans and Mauck links the adaptive culture of diversity and inclusion to higher rates of employee engagement and satisfaction.
As the definition of “diversity” expands, so will business opportunities. The inclusion of women, GLBT employees, persons with disabilities, and minorities are simply the foundation of what diverse programs will look like. As 2012 approaches, look for more emphasis on diversity of occupational background, generation and life experiences that will allow many more people to bring “their whole selves” to work.
BRIEF: Inclusive Workplaces
By Rohini Anand
Senior Vice President and Global Chief Diversity Officer, Sodexo
In today's increasingly complex and interdependent global economy, diversity and inclusion is a business imperative that can drive an organization's ability to attract and develop the best talent, create an engaged and high-performing workforce, identify new business opportunities and deliver exceptional results for clients and customers.
Clearly, the population in the United States-and the world-is changing dramatically. In 2008, “minorities” were roughly one-third of the U.S. population, but by 2042, “minorities” will be the majority! Moreover, between now and 2050, people of color will represent 90% of the population growth. As their numbers increase, so too, does their buying power.
Forward-looking companies need to understand the implications of these demographic shifts. To remain competitive, organizations must continually evolve their focus and adjust their strategies to anticipate changing workplace and marketplace demands.
In addition, the composition of our workforce has changed rapidly in recent years and will continue to become more diverse in the years ahead. That, combined with a challenging and unpredictable economic climate, is leading organizations to utilize new strategies to retain and engage employees. One of the most significant trends emerging in 2012 is the value employers and employees are placing on inclusion and inclusive work environments.
Diversity and inclusion also has a significant impact on business performance. Numerous studies by organizations including Catalyst, McKinsey, and Bloomberg have found links between gender diversity and corporate financial performance - companies with the highest representation of women in top management, experience better financial performance than companies with lower representation of women in top management.
According to the Equality and Human Rights Commission, an inclusive workplace is one where fairness, respect, equality, dignity and autonomy are promoted and are part of the organization's everyday goals and behavior. To remain competitive, organizations will need to create and sustain a culture that not only respects and accepts individual differences, but also leverages them for innovation and business growth. While addressing gender and minorities continue to be very relevant to creating inclusive work cultures, it is also vital to understand and actively engage other groups such as the LGBT community, people with disabilities, multiple generations and veterans.
Progressive companies are creating and promoting inclusive work environments to maximize productivity, attract new talent and increase employee commitment. Leveraging differences helps any organization reason and react faster, approach challenges and solve problems more effectively, make valuable suggestions and informed decisions and identify and pursue exceptional opportunities.
As the U.S. and global population base steadily becomes more diverse, a significant portion of any organization's future growth must come from tapping into diverse emerging markets and understanding cultural preferences and decision-making processes.
As companies continue to refine and expand their inclusion efforts they will find that living their diversity values and implementing key inclusion initiatives will enable seamless integration with customers on a global scale, especially as business practices evolve with the world population. Inclusion itself could be the driver of rapid globalization for some organizations.
Diversity and inclusion is a competitive advantage and should be a fundamental component of any organization's long-term growth strategy. Progressive organizations are seeing the value and return on investment of a solid diversity and inclusion strategy.
