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O P I N I O N
Diversity drives innovation
T hinking ahead to 2021 and beyond, how will your strategic plan drive innovation? Is it a technology investment? Will you add new services to differentiate your firm? How will you unlock the potential of your people? In an increasingly global marketplace, equity, diversity, inclusion, and engagement strategies will be integral to the success of your organization for the foreseeable future.
As an industry that solves problems, people remain the most important driver of innovation. For your upcoming strategic planning, what people-focused investments are you most excited about? What do you think will create long-term business value? In an increasingly global marketplace, equity, diversity, inclusion, and engagement (EDI&E) strategies will be integral to the success of your organization for the foreseeable future. Key drivers of diversity are globalization, technology, competition and changing demographics impacting your workforce and marketplace. UNPACKING THE TERMS. Sarika Bhakta of Nikeya Diversity Consulting says the business case for EDI&E is compelling due to existing research. “Organizations that leverage diversity as an asset with equity, inclusion, and engagement initiatives can foster agile workplace cultures to drive
more innovation,” Bhakta says. “When EDI&E is embedded in your firm’s culture diverse teams are more innovative – stronger at anticipating shifts in client and market needs to adapt, survive, and thrive when faced with industry disruptors.” Diversity is multi-dimensional – racial/ethnic, gender identity, perspectives, leadership styles, sexual orientation, geography, and more. Equity is “what we have access to – systems, institutions, processes, and procedures that create fair and just opportunities for all leading to equal outcomes,” Bhakta says. “Inclusion is what we do. Are we inviting people to the table, letting their voices be heard, involving them in the process?” Simply including others does not necessarily mean they are engaged. We must be cognizant of how a person is feeling – a sense of belonging, feeling valued, making a difference.
Greg Kanz
Sarika Bhakta
See GREG KANZ & SARIKA BHAKTA, page 4
THE ZWEIG LETTER NOVEMBER 9, 2020, ISSUE 1367
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