While the business case for diversity and inclusion will differ for every organization, there are three common denominators.
1. People – Every organization needs to attract, retain and promote the right
people and needs them to be productive and engaged.
2. Customers – Whether you serve other businesses or the public, every organization has a customer.
3. Brand – How you’re known in the market and whether you’re seen to be an inclusive employer will have an impact on your ability to hire talent. Young people Google. They will make decisions to work for organizations based on inclusion.
If they can’t see themselves in your organization, they will not apply.
In order to remain relevant and competitive, businesses must pay attention to this issue. “The numbers paint the business case. They tell us why this is an imperative, and it is an imperative,” says Bach.
For the first time, we have five generations in the workplace. The Canadian birth rate is in decline and our immigration numbers will continue to grow.
In the Diversity Dividend, authors cite that “In approximately 20 years, immigration will account for all net growth in Canada’s population and workforce (Statistics Canada 2017).
With an aging population and increased pressure on healthcare, pensions and other social services, a dynamic workforce will be an essential element in maintaining Canada’s
standard of living and remaining internationally competitive.”
In addition to demographic shifts in Canada, many research initiatives have shown the strong correlation between diversity and inclusion and performance. In their report, Waiter, is that Inclusion in my Soup?2 Deloitte and The Victorian Equal Opportunity & Human Rights Commission found that when employees think their organization is highly committed to, and supportive of, diversity, and they feel highly included, they are 80% more likely to agree that they work in a high-performing organization.