PRESENT BENEFITS THAT WILL RESONATE WITH LEADERSHIP To get leadership buy-in for adopting a growth mindset and focusing on Diversity, Equity, and Inclusion (DEI), it's essential to present the potential benefits of these initiatives in various key areas that impact the organization's success. Financials One way to get leadership committed to DEI is to demonstrate the financial benefits and approach DEI as an important business function. Leadership that views DEI as time-consuming and a strain on economic resources is more likely to change their perspective with data. A data-driven approach will capture the attention of leadership members who see DEI as an HR issue instead of a business issue. Demonstrate that not prioritizing growth mindset and DEI as essential aspects of a company’s business plan and culture will cause the company to fall behind competitors and miss out on financial gains. • Companies that were on the bottom quartile of gender, ethnicity, and race were statistically less likely to achieve above average financial returns. (Source)
A study conducted by McKinsey & Company analyzed data from 366 public companies and found that companies in the top quartile in race and ethnic diversity were 35% more likely to have financial returns above the industry average. (McKinsey)
35%
87% 2X
60%
A Forbes study that assessed 200 different business groups among various companies found that inclusive teams: (Forbes)
Made better decisions
Made decisions faster with half the amount of meetings
Delivered better results
Recruitment & Retention The AEC industry is experiencing recruitment and retention challenges. DEI and a growth mindset can help mitigate these issues and the potential negative impacts the company may face if not incorporated into the company culture. Start having discussions with company employees to understand what is important to them. Is DEI important to the employees within the company? Anonymous surveys can be used to determine employee sentiment and can give employees confidence to express their thoughts without fear of repercussions. If the data shows that employees care about DEI initiatives and are dissatisfied with current policies, leadership will be more likely to take DEI seriously. Recruiting talent in the AEC industry has been a prevailing challenge. Studies have shown that implementing DEI initiatives can help reduce high turnover rates and attract new talent. Provide leadership with statistics on how a diverse and inclusive work culture can help mitigate recruitment and retention issues. • 76% of applicants view a diversity as an important factor when assessing companies and job offers. (Source) Utilize the stats on page 12 of this document to support this argument.
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TransformUS: A Growth Mindset Framework to DEI Initiatives in the AEC Industry
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