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In the modern business landscape, Diversity, Equity, and Inclusion (DEI) have become crucial elements for a successful, respectful, and innovative work environment. These principles not only foster a fair, nurturing atmosphere but also drive creativity, collaboration, and productivity, resulting in increased business success.
Companies must take DEI seriously - it is not a trend, but a vital approach to healthy and responsible business operations.
"Companies in the top quartile for racial and ethnic diversity are 35% more likely to have financial returns above their respective national industry medians."
McKinsey, "Diversity Matters," 2015
In this article, we'll dive into the importance of DEI training, statistical proof it benefits corporations and employees, and how your organization can implement diversity and inclusion into your training program.
The Importance of DEI in the Workplace
A diverse and inclusive work environment is rich in viewpoints, ideas, and perspectives, all of which are fundamental drivers of innovation. It promotes equal opportunities for everyone, ensuring no talent is overlooked due to race, religion, gender, age, or background. Besides, studies have consistently shown that diverse companies are more profitable and better positioned to solve complex problems, thanks to the multitude of perspectives they encompass.
Equity ensures that every employee has access to the same opportunities. This doesn't just create fairness; it promotes a sense of belonging and mutual respect among the staff. Implementing equity means recognizing the unique needs of individuals and offering support in various forms to ensure everyone can achieve their full potential.
Investing in DEI is investing in the company's future. It's a commitment to employees, customers, and the wider community that your business values and respects all individuals.
"Teams that follow an inclusive process make decisions 2X faster with 1/2 the meetings. Decisions made and executed by diverse teams delivered 60% better results."
Cloverpop, "Hacking Diversity with Inclusive Decision Making," 2017
Statistical Proof DEI Works
Of course, there are many reasons why diverse working environments should be encouraged. But did you know the hard facts that prove the effectiveness of intentionally encouraging DEI programs?
Increased Financial Performance: Companies in the top quartile for racial and ethnic diversity are 35% more likely to have financial returns above their respective national industry medians. (McKinsey, "Diversity Matters," 2015)
Innovation: Diverse teams are 87% better at making decisions and 20% more likely to make a bold decision. (Cloverpop, "Hacking Diversity with Inclusive Decision Making," 2017)
Better Decision Making: Teams that follow an inclusive process make decisions 2X faster with 1/2 the meetings. Decisions made and executed by diverse teams delivered 60% better results. (Cloverpop, "Hacking Diversity with Inclusive Decision Making," 2017)
Job Satisfaction and Employee Retention: Companies with more diverse management teams have 19% higher revenue due to innovation. This finding is significant for tech companies, start-ups, and industries where innovation is the key to growth. (BCG, "How Diverse Leadership Teams Boost Innovation," 2018)
Enhanced Company Reputation: 67% of job seekers consider workplace diversity an important factor when considering employment opportunities, and more than 50% of current employees want their workplace to do more to increase diversity. (Glassdoor, "The Glassdoor Survey," 2014)
Higher Creativity: Diverse companies are 1.7 times more likely to be innovation leaders in their market segments. (Josh Bersin, "Why Diversity and Inclusion Will Be A Top Priority for 2016," Forbes, 2015)
Improved Customer Orientation: A diverse and inclusive workforce helps businesses avoid employee turnover costs. Diversity fosters a more creative and innovative workforce. (Deloitte, "The Radical Transformation of Diversity and Inclusion: The Millennial Influence," 2015)
Better Problem Solving: Diverse teams are able to solve problems faster than cognitively similar people. (Harvard Business Review, "Teams Solve Problems Faster When They’re More Cognitively Diverse," 2017)
Implementing DEI Through eLearning
While understanding the importance of DEI is a crucial first step, the question then becomes - how can companies effectively implement these principles?
This is where the power of eLearning comes into play. Online employee training courses offer a flexible, efficient, and comprehensive approach to implementing DEI in your workplace. These courses can be tailored to your company's specific needs and can be accessed at any time, making learning convenient for your staff.
eLearning companies like ours, in collaboration with OpenSesame and LinkedIn Learning, have developed a range of professionally designed, off-the-shelf DEI courses. These courses aim to educate employees about the importance of DEI, teach them how to uphold these values in their daily work, and create a more respectful and inclusive workplace culture.
OpenSesame
OpenSesame offers an extensive DEI course library that includes topics like unconscious bias, cultural competency, gender equity, and much more. Their courses are designed by subject matter experts to deliver actionable knowledge in engaging formats. Through Knowledge Anywhere's LMS integration with OpenSesame, customers have access to over 22,000 courses covering every topic.
LinkedIn Learning
Likewise, LinkedIn Learning offers a variety of courses focused on DEI. These range from understanding and managing unconscious bias to developing empathy and understanding accessibility. LinkedIn Learning’s approach to DEI is comprehensive, catering to the needs of all employees and equipping them with the tools they need to foster a diverse and inclusive workplace. By using Knowledge Anywhere's LMS integration with Linkedin Learning, customers have access to professionally created, off-the-shelf courses and certificates that teach the skills needed to create an inclusive diversity training program, improve cross-cultural communication, teach inclusive leaders, and continue recruiting diverse talent.
Conclusion
Implementing DEI in your workplace isn't a simple task - it requires a dedicated approach and the right resources. eLearning platforms can be a powerful ally in this journey, providing comprehensive, accessible, and effective training solutions. Investing in DEI courses from reliable partners like OpenSesame and LinkedIn Learning can be the key to building a more inclusive, respectful, and successful work environment.
Remember, DEI isn't just the right thing to do; it's also a smart business strategy. The future of work is diverse, equitable, and inclusive - make sure your company is ready for it.
To talk with an online training expert today about implementing or optimizing your workplace training program, schedule your free consultation today.
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