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Questions and Answers
How much more likely are US employees ages 18-34 to want to work at a company that supports LGBTQ+ rights?
What percentage of business leaders consider diversity initiatives essential to their business strategy?
What motivates 45% of respondents to implement diversity, equity, and inclusion (DEIB) initiatives?
What is the top motivator for respondents in implementing DEIB initiatives according to a recent survey?
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What percentage of Americans believe that diversity, equity, and inclusion programs are a 'good thing'?
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How do 75% of respondents describe their feelings regarding inclusion at work?
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Which one-on-one activity is considered the most effective technique by leaders to enhance employee engagement?
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What percentage of worker respondents would choose a company that prioritizes DEIB?
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What percentage of respondents reported having well-established and structured supplier diversity programs?
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What is one significant effect of workplace bias mentioned in the content?
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According to the content, how do public attitudes affect companies regarding DEIB initiatives?
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What negative consequence might arise from SHRM discontinuing the use of the term 'equity'?
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What constitutes a high cost of workplace bias as cited in the content?
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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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Description
This quiz explores the impact of diversity initiatives and employee preferences on business performance. Learn how support for LGBTQ+ rights influences workplace dynamics and consumer choices. Discover why diversity is increasingly seen as essential by business leaders.
