Podcast
Questions and Answers
Diversity initiatives are credited with improving business ______, enhancing talent acquisition and retention.
Diversity initiatives are credited with improving business ______, enhancing talent acquisition and retention.
performance
50% of respondents have well-established and structured supplier ______ programs.
50% of respondents have well-established and structured supplier ______ programs.
diversity
51% of business leaders say public attitudes influence their company's decisions regarding ______ initiatives.
51% of business leaders say public attitudes influence their company's decisions regarding ______ initiatives.
DEIB
96% of the companies report their commitment to ______ remains strong.
96% of the companies report their commitment to ______ remains strong.
Workplace bias leads to ______, which is expensive—often 150% of a worker's annual salary.
Workplace bias leads to ______, which is expensive—often 150% of a worker's annual salary.
Workplace bias decreases employee engagement, reducing productivity by roughly ______%.
Workplace bias decreases employee engagement, reducing productivity by roughly ______%.
US employees ages 18-34 are 5.5 times more likely to want to work at a company if it publicly supports and demonstrates a commitment to expanding and protecting ______ rights.
US employees ages 18-34 are 5.5 times more likely to want to work at a company if it publicly supports and demonstrates a commitment to expanding and protecting ______ rights.
82% of business leaders consider ______ initiatives essential to their business strategy.
82% of business leaders consider ______ initiatives essential to their business strategy.
Roughly 6 in 10 Americans said that diversity, equity, and ______ programs are a 'good thing.'
Roughly 6 in 10 Americans said that diversity, equity, and ______ programs are a 'good thing.'
45% of respondents in a recent EY survey say that flexible working, including autonomy in choosing hours and ______, was their top motivator for instilling diversity, equity, and inclusion.
45% of respondents in a recent EY survey say that flexible working, including autonomy in choosing hours and ______, was their top motivator for instilling diversity, equity, and inclusion.
67% of business leaders anticipate ______ initiatives will grow in importance in the coming years.
67% of business leaders anticipate ______ initiatives will grow in importance in the coming years.
One-on-one check-ins with employees is the most effective technique for leaders looking to maximize employee engagement, well-being, and ______.
One-on-one check-ins with employees is the most effective technique for leaders looking to maximize employee engagement, well-being, and ______.
74% of EY Belonging Barometer respondents say their company's prioritization of DEIB factored into their choice of where to ______.
74% of EY Belonging Barometer respondents say their company's prioritization of DEIB factored into their choice of where to ______.
46% of business leaders said the main reason they have diversity initiatives is to improve business ______.
46% of business leaders said the main reason they have diversity initiatives is to improve business ______.
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Study Notes
Workplace Diversity and Employee Preferences
- Employees aged 18-34 are 5.5 times more likely to choose employers who support and demonstrate LGBTQ+ rights.
- Consumers are twice as likely to engage with brands that publicly support LGBTQ+ rights.
Importance of Diversity Initiatives
- 82% of business leaders view diversity initiatives as essential for business strategy.
- 67% foresee an increase in the importance of these initiatives in future business practices.
- Main motivations for diversity initiatives among business leaders include improving business performance (45%), enhancing talent acquisition (43%), and fostering innovation and creativity (38%).
Public Perception of Diversity Programs
- Around 60% of Americans consider diversity, equity, and inclusion (DEI) programs beneficial.
- Nearly 70% support hiring initiatives aimed at increasing underrepresented groups in the workforce to promote equity.
Sense of Belonging in the Workplace
- 41% of individuals feel the strongest sense of belonging at work, while 75% have experienced exclusion in the workplace.
- Checking in on employees’ well-being, both professionally and personally, is seen as the top contributor to fostering a sense of belonging (32%).
Employee Engagement Strategies
- One-on-one check-ins are identified as the most effective way for leaders to enhance employee engagement, well-being, and productivity.
- 45% of employees prioritize flexible working arrangements as a key motivator for driving DEI initiatives within their teams.
Corporate Choices Influenced by Diversity Initiatives
- 63% of employees would prefer a company that prioritizes DEIB (Diversity, Equity, Inclusion, Belonging) over one that does not.
- 74% of respondents stated that their company's commitment to DEIB influenced their job choice.
Business Performance and Diversity
- Diversity initiatives contribute to improved business performance, talent acquisition, retention, competitiveness, and innovation according to a recent survey.
- 50% of companies have established structured supplier diversity programs, while 32% are in the early stages of implementing them.
- Public attitudes significantly influence 51% of business leaders’ decisions concerning DEIB initiatives.
Commitment and Risk Management in Diversity
- 96% of surveyed companies maintain a strong commitment to DEI while adjusting communication strategies and encouraging legal reviews of existing programs to mitigate risk.
Challenges in Equity Discussions
- SHRM’s decision to remove the term “equity” from its discussions has sparked backlash and may unintentionally contribute to avoiding necessary discomfort, referred to as “dirty pain.”
- Workplace bias is linked to high attrition rates, costing companies approximately 150% of a worker's annual salary.
- Employee engagement can suffer due to workplace bias, leading to a 20% decrease in productivity.
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