An inclusive workplace is a crucial factor for success
In the current business world, diversity and inclusion (D&I, DEI) are crucial factors for sustainable success. Companies that embrace these values are reaping the benefits.
Research from the Boston Consulting Group indicates that organizations with a diverse management team achieve a 9 percent higher financial performance than their less diverse counterparts, with a growing focus on the ‘S’ (Social) aspect within the ESG (Environmental, Social, Governance) framework. McKinsey & Companyadds that companies with a diverse workforce are estimated to outperform comparable companies in their sector by approximately 35 percent, with the social aspects of ESG becoming increasingly crucial. These findings not only underscore the social value of diversity and inclusion but also highlight their role as building blocks for sustainable business success within the framework of ESG.
Positive impact of strong D&I policies
Within Good Work Goal 4 ‘Inclusive Employment,’ we promote a work environment that supports the diversity of employees and does not discriminate based on gender, race, religion, or other characteristics. Here are some reasons why diversity and inclusion have a positive impact on companies:
- Wide range of talent: Diversity in the workforce attracts a wider spectrum of talent, leading to more creative and effective solutions.
- Improved customer service: A diverse group of staff understands and serves customers from different backgrounds better, which in turn increases customer satisfaction.
- Increased innovation: An inclusive culture encourages open communication and promotes innovation, giving the company a competitive edge.
- Stronger brand: Companies that embrace diversity build a stronger brand associated with social responsibility and progressiveness.
- Better business results: Research shows that companies that take diversity seriously achieve better financial performance.
Building an inclusive work environment is a shared responsibility that starts with leadership and spreads to all employees. Want to build an impactful D&I policy? Request our People Sustainability Scan today and take the first step towards an inclusive work environment.
Good work goal 4: Inclusive employment
Because the safety and well-being of employees are our number one priority, defined Antwerp Management School in collaboration with B-Tonic the Good work goals. These are the 10 key points of action that should drive every company’s sustainable well-being policy. With this, we want to emphasise that good working conditions are a demonstrable responsibility not only in times of stability and prosperity, but also – and even more so – in times of crisis and recovery.
The Good work goals aspire to a working environment that is safer, healthier, more resilient, more inclusive, happier, more balanced, more sustainable, more supportive, more meaningful and more responsible. By proposing a series of actions in each of these 10 areas, the Good work goals show the path employers can take to ensure a good working environment for their employees.
Related SDG's
