Podcast
Questions and Answers
Diversity initiatives have no impact on business performance.
Diversity initiatives have no impact on business performance.
False (B)
32% of respondents in a recent survey reported having well-established supplier diversity programs.
32% of respondents in a recent survey reported having well-established supplier diversity programs.
False (B)
Public attitudes have no influence on companies' decisions regarding DEIB initiatives.
Public attitudes have no influence on companies' decisions regarding DEIB initiatives.
False (B)
A majority of companies remain committed to DEI despite some communication adjustments.
A majority of companies remain committed to DEI despite some communication adjustments.
Workplace bias can lead to high employee turnover costs, estimated at 150% of an annual salary.
Workplace bias can lead to high employee turnover costs, estimated at 150% of an annual salary.
SHRM decided to continue using the term 'equity' in their initiatives.
SHRM decided to continue using the term 'equity' in their initiatives.
Employees aged 18-34 are 3 times more likely to want to work at a company that supports LGBTQ+ rights.
Employees aged 18-34 are 3 times more likely to want to work at a company that supports LGBTQ+ rights.
82% of business leaders believe diversity initiatives are essential to their business strategy.
82% of business leaders believe diversity initiatives are essential to their business strategy.
Roughly 60% of Americans believe that diversity, equity, and inclusion programs are a negative influence.
Roughly 60% of Americans believe that diversity, equity, and inclusion programs are a negative influence.
A majority of Americans support hiring practices that aim to increase representation of underrepresented groups.
A majority of Americans support hiring practices that aim to increase representation of underrepresented groups.
Checking in on employees' personal lives is the least effective method for fostering a sense of belonging at work.
Checking in on employees' personal lives is the least effective method for fostering a sense of belonging at work.
Flexible working arrangements, including autonomy, are considered a top motivator for diversity initiatives by 65% of respondents.
Flexible working arrangements, including autonomy, are considered a top motivator for diversity initiatives by 65% of respondents.
74% of respondents said their company's prioritization of DEIB was not a factor in their job choice.
74% of respondents said their company's prioritization of DEIB was not a factor in their job choice.
65% of worker respondents would prefer a company that does not prioritize DEIB.
65% of worker respondents would prefer a company that does not prioritize DEIB.
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Study Notes
Employee Preferences and Brand Loyalty
- US employees aged 18-34 are 5.5 times more likely to prefer companies actively supporting LGBTQ+ rights.
- Americans are twice as inclined to purchase from brands that openly support LGBTQ+ rights.
Diversity Initiatives in Business
- 82% of business leaders view diversity initiatives as essential to their overall strategy.
- 67% of leaders expect the significance of diversity initiatives to increase in the near future.
- Main reasons for diversity initiatives include:
- Enhancing business performance (45%)
- Improving talent acquisition (43%)
- Boosting innovation and creativity (38%)
Perceptions of Diversity, Equity, and Inclusion (DEI)
- Approximately 60% of Americans consider DEI programs beneficial.
- Nearly 70% support hiring from underrepresented groups to foster workplace equity.
- 41% feel a strong sense of belonging at work; however, 75% have experienced exclusion.
Building Workplace Belonging
- Candid check-ins on employee well-being are the top factor (32%) contributing to workplace belonging.
- One-on-one meetings are deemed the most effective for enhancing engagement, well-being, and productivity.
Employee Motivators for DEI
- 45% cite flexible working conditions as a key motivator for driving DEI initiatives in their teams.
- 63% would prefer workplaces prioritizing DEIB (Diversity, Equity, Inclusion, and Belonging) over those that do not.
- 74% affirm that DEIB influence their job choice.
Impact of Diversity Initiatives
- Diversity initiatives enhance business performance, retention, competitiveness, and foster innovation, as reported by Morning Consult.
- 50% of surveyed companies have established supplier diversity programs; 32% have programs in early stages.
- 51% of business leaders acknowledge that public attitudes impact their DEIB decisions.
Corporate Commitment to DEI
- 96% of responding companies report a strong commitment to DEI despite adjusting communication strategies to mitigate risks.
Challenges and Controversies
- SHRM's decision to abandon the term "equity" has sparked criticism and may worsen the issue known as "dirty pain," where necessary progress is disregarded.
- Workplace bias results in higher turnover costs, often reaching 150% of an employee's annual salary, and reduces productivity by about 20%.
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