OPINION
The competitive ADVANTAGE OF INCLUSION
With research increasingly suggesting that a happier, more inclusive workforce is the key to commercial success, the business case for diversity has never been clearer, argues Yetunde Hofmann
T he next generation of workers and that they consume, as well as the wider world around them. The United Nations’ 17 sustainable development goals (SDGs), a set of ambitious targets to make the world a better place by 2030, are aligned with many of the goals of contemporary diversity, equality and inclusion (DE&I) policies. From reducing inequality of all kinds, to universal education and opportunities, the SDGs emphasise the objective of people “fulfilling their potential in dignity and equality and in a healthy environment”, while enjoying prosperous and fulfilling lives free from inequality, fear, poverty, or violence. consumers are demanding social value in their workplaces and in the products These same agendas are present in DE&I policies the world over and the benefits are clear for all to see. Recently, a PWC report on diversity and inclusion reputation, Magnet for Talent , investigated the ways in which such strategies impact upon the reputation (positive or negative) of companies, and how they define their ability to grow, attract talent and their capacity to perform at a high level. The research strongly suggests that a comprehensive DE&I strategy has become a necessary foundation upon which a company must be built, impacting critically on whether
or not it can survive. But how can we enact our DE&I policy so that becomes a decisive plan of action that reflects our goals and strengthens our competitive edge? Policy and strategy alignment First, your DE&I policy must align with your strategy, but there has to be a genuine commitment to it and a willingness to do all that is required to make it work. That commitment must go beyond words and demonstrate action. It is essential to think long term: build comprehensive strategies spanning at least a year to ensure success Make sure you have representatives of your people involved in writing and implementing the policy, particularly those it will impact (both those who may feel they have something to gain by it and those who feel they have something to lose) Listen to the people you involve and demonstrate that their opinions are valued and that their contribution matters Equip employee groups with the resources they need (including funds); give them a mandate to effect change from day one Track progress and set meaningful and measurable targets and goals that are regularly reviewed
Yetunde Hofmann is a board-level executive leadership coach and mentor, a global change, inclusion and diversity adviser, author of Beyond Engagement , and founder of Solaris, a leadership development programme for black women. She is also the chair of REMCO, the remuneration committee of chemical manufacturing company Treatt Plc, and an independent non-executive director at Cranswick Country Foods. Find out
more at https://www. yetundehofmann.com
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