Podcast
Questions and Answers
How much more likely are US employees ages 18-34 to want to work at a company that supports LGBTQ+ rights?
How much more likely are US employees ages 18-34 to want to work at a company that supports LGBTQ+ rights?
- 2 times more likely
- 10 times more likely
- 5.5 times more likely (correct)
- 3 times more likely
What percentage of business leaders consider diversity initiatives essential to their business strategy?
What percentage of business leaders consider diversity initiatives essential to their business strategy?
- 50%
- 38%
- 82% (correct)
- 67%
What motivates 45% of respondents to implement diversity, equity, and inclusion (DEIB) initiatives?
What motivates 45% of respondents to implement diversity, equity, and inclusion (DEIB) initiatives?
- Enhance brand visibility
- Reduce operating costs
- Improve business performance (correct)
- Increase employee turnover
What is the top motivator for respondents in implementing DEIB initiatives according to a recent survey?
What is the top motivator for respondents in implementing DEIB initiatives according to a recent survey?
What percentage of Americans believe that diversity, equity, and inclusion programs are a 'good thing'?
What percentage of Americans believe that diversity, equity, and inclusion programs are a 'good thing'?
How do 75% of respondents describe their feelings regarding inclusion at work?
How do 75% of respondents describe their feelings regarding inclusion at work?
Which one-on-one activity is considered the most effective technique by leaders to enhance employee engagement?
Which one-on-one activity is considered the most effective technique by leaders to enhance employee engagement?
What percentage of worker respondents would choose a company that prioritizes DEIB?
What percentage of worker respondents would choose a company that prioritizes DEIB?
What percentage of respondents reported having well-established and structured supplier diversity programs?
What percentage of respondents reported having well-established and structured supplier diversity programs?
What is one significant effect of workplace bias mentioned in the content?
What is one significant effect of workplace bias mentioned in the content?
According to the content, how do public attitudes affect companies regarding DEIB initiatives?
According to the content, how do public attitudes affect companies regarding DEIB initiatives?
What negative consequence might arise from SHRM discontinuing the use of the term 'equity'?
What negative consequence might arise from SHRM discontinuing the use of the term 'equity'?
What constitutes a high cost of workplace bias as cited in the content?
What constitutes a high cost of workplace bias as cited in the content?
What percentage of companies reported that their commitment to DEI remains strong?
What percentage of companies reported that their commitment to DEI remains strong?
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Study Notes
Employee Preferences and Diversity Initiatives
- Employees aged 18-34 are 5.5 times more likely to work at companies that openly support LGBTQ+ rights.
- Public support for LGBTQ+ rights increases the likelihood of Americans choosing to buy from or use a brand by 100%.
- 82% of business leaders view diversity initiatives as essential to their strategic business approach.
- 67% of leaders expect the significance of diversity initiatives to rise in the near future.
Business Performance and Diversity
- Main reasons for implementing diversity initiatives include improving business performance (45%), enhancing talent acquisition (43%), and fostering innovation and creativity (38%).
- Approximately 60% of Americans perceive diversity, equity, and inclusion (DEI) programs as beneficial.
- 70% of Americans believe that DEI programs aimed at increasing representation of underrepresented groups are favorable.
Workplace Inclusion and Belonging
- 41% of respondents from the EY Belonging Barometer feel a strong sense of belonging at work, while 75% report experiencing exclusion.
- Regular check-ins regarding employees' personal and professional well-being are identified as a top contributor (32%) to workplace belonging.
- One-on-one meetings are deemed most effective for enhancing employee engagement, well-being, and productivity.
Preferences for Work Environment
- 45% of respondents prioritize flexible working arrangements, valuing control over working hours and location as a major motivator for promoting DEI.
- 63% of employees would select a company that emphasizes DEIB (Diversity, Equity, Inclusion, and Belonging) over others.
- 74% of respondents indicate that DEIB goals influenced their employment decisions.
Outcomes of Diversity Programs
- Diversity initiatives are linked to improved business performance, better talent acquisition and retention, increased competitiveness, and enhanced innovation, according to a Morning Consult survey.
- 50% of companies reported having well-established supplier diversity programs, while 32% are at early stages of development.
- 51% of business leaders say public perceptions impact their decisions on DEIB initiatives.
Commitment to DEI and Challenges
- 96% of surveyed companies affirm their strong commitment to DEI, though they are adjusting communication strategies to mitigate risk.
- SHRM's decision to eliminate the term "equity" has sparked considerable backlash and may inadvertently contribute to "dirty pain" by stifling necessary progress.
- Workplace bias is linked to high employee attrition rates, costing around 150% of an employee's yearly salary.
- Bias leads to decreased engagement and productivity, reducing overall effectiveness by approximately 20%.
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