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Individual and collective behavior is under scrutiny. This is a reality that companies not only can’t ignore but also something they should reflect on to improve their organizational health.
The consulting firm McKinsey & Company conducted a study to analyze the impact of promoting gender, ethnic, and sexual orientation diversity in Latin American companies. It concluded that companies perceived as diverse have a 93% higher probability of achieving financial results above average.
Therefore, being inclusive not only pursues a social objective. Companies committed to diversity usually stand out for their innovation and collaboration. That is, when employees feel free to be themselves in their workspaces, they are stimulated to participate and contribute to achieving the results the company desires.
Likewise, inclusive teams often have a better working climate. For example, leaders are more effective at fostering trust and teamwork. This generates better talent retention: people express feeling happy at work and aspire to achieve higher levels in the organization.
How to strengthen diversity and inclusion in companies?
We propose 5 concrete actions:
- Ensure representation of diverse talent, aligning diversity objectives with the company’s business strategy.
- Strengthen leadership and accountability for the fulfillment of diversity objectives and share progress with the rest of the organization.
- Promote equity and equal opportunities, ensuring that hiring, promotions, and remuneration are transparent and fair.
- Encourage openness and eradicate microaggressions, adopt a zero tolerance policy for discriminatory behaviors and harassment.
- Promote belonging in the workplace , encouraging diverse talents to contribute their unique strengths; and evaluating belonging and satisfaction through surveys.
Commitment to diversity is key. Not only to achieve a working environment where employees feel comfortable and thus generate a significant impact on organizational performance but also to achieve good financial results.
Anyone who feels comfortable and respected in their work team will give their maximum to achieve the company’s objectives.