Despite the positive impact of diversity equity and inclusion training for your employees, you might have yet to learn all the benefits that can come from it. Several benefits include increased productivity, reduced risk of discrimination, and increased employee engagement. Understanding these benefits may help you decide if diversity training suits your company.
Positive Impact on Employee Engagement
Diversity equity and inclusion training can benefit a company in many ways. It can increase employee engagement by fostering an inclusive environment. Employees who feel appreciated at work are more productive and happy at work. Creating a diverse background can also boost the company’s bottom line.
Research shows that organizations with high employee engagement are 21 percent more profitable than those without it. DEI also reduces the incidence of workplace harassment, which costs the company more than $7.6 million each year. In addition, organizations with more diverse workforces often lead the industry in innovation. Various teams make better decisions 87 percent of the time. To achieve this, organizations must invest in their employees’ experiences.
A diversity, equity, and inclusion program can inspire employees to become the best version of themselves. Workman research has shown that a workplace environment that respects diversity and values its employees will result in higher employee engagement, retention, and satisfaction. In addition, it can create a sense of belonging for employees.
Diverse work environments enhance employee morale and directly benefit the business. As an employer, you should take advantage of this opportunity. Harvard Business Review reported that companies with a higher racial and ethnic diversity had 19 percent higher revenue than similar companies without diversity. Another study by McKinsey found that every 10 percent increase in racial diversity led to 0.8 percent higher earnings.
It is vital to consider your organization’s diversity and inclusion needs before implementing any program or policy. This ensures that the steps taken will have an impact. For example, when designing a new diversity strategy, collecting and analyzing data and learning about your employees’ diversity and inclusion needs across your organization is essential. One great way to gather such data is to use diversity equity and inclusion training and assessment software, such as Qlearsite, which provides real-time feedback to employees who are taking part in a program.
Besides training employees on how to deal with workplace discrimination, diversity training can also improve morale and job satisfaction. Moreover, it doesn’t have to be expensive or time-consuming. You can begin by laying out a list of the goals and objectives of your company and how you plan to achieve them.
Reduced Risk of Discrimination
Diversity training aims to increase awareness about the benefits of working with diverse people. Diversity training should also challenge employees to explore the nuances of unconscious bias, which can affect their judgments at work. This training should be voluntary and non-threatening for employees. Research has shown that a company’s diversity program improves its bottom line.
Companies are increasingly looking for ways to combat racial bias. While hiring managers are more likely to hire candidates with identical resumes and white names, studies have shown that teams with more diversity perform better than those with more homogeneity. However, while diversity training is a great way to promote a more inclusive environment, more is needed to ensure that it will eliminate discrimination.
Research has shown that diversity training increases attitudes toward marginalized groups and improves school climate. However, there is little evidence that diversity courses significantly impact behaviors. These courses often only focus on raising awareness and reducing discriminatory attitudes, which doesn’t necessarily result in greater diversity. In addition, the results are subject to self-selection bias, backlash, and demand effects.
Improved Organizational Culture
Developing an inclusive culture is vital to the success of a company. Inclusion is about creating an environment where everyone feels valued and appreciated. Inclusion is an ongoing, active, and intentional effort. It involves policies and practices that encourage diversity and employee involvement. It also consists in fostering innovative and new ways of leading.
Companies that are committed to DEI create a more diverse workplace. They hire more diverse employees, create more diverse teams, and provide equal access to career mobility opportunities. However, companies that do not have an inclusive culture miss out on tapping into the creative potential of employees of different backgrounds, genders, and cultures. Additionally, organizations with a diverse workforce achieve higher financial results and superior shareholder returns.
Diversity training is essential for maintaining defined standards and establishing the importance of inclusion in the workplace. It also helps employees recognize the advantages of working in a diverse environment. By teaching individuals how to approach projects and communications with an inclusive mindset, diversity training can help improve organizational culture. This can promote increased trust, communication, and equity, leading to more efficient work environments.