1 week Ago
Diversity, equity and inclusion are more than just words. They are a call to action to work towards building a better world for us all. Yet, confusion and misunderstanding around these concepts have led to backlash.
As our population shifts and the workforce evolves, however, the work of honoring diversity and cultural awareness, as well as cultivating equitable opportunities and inclusivity, is essential to economic growth and regional prosperity. That’s why this should matter first and foremost to business.Diversity is often mistaken as solely a matter of race or gender, but it is far more inclusive.
According to The Society for Human Resource Management, it includes age, socioeconomic background, education, disability, religion, veteran status and more. The U.S.
Census Bureau says Hampton Roads is one of the most racially and ethnically diverse regions in Virginia with a strong veteran population and a growing number of multilingual professionals, making it a prime location for companies looking to expand globally.Equity, in the financial world, refers to fairness and value — whether in business investments or homeownership. In the stock market, equity represents the value of shares after liabilities are deducted, reflecting a company’s financial health.
In real estate, equity is the difference between a property’s market value and the remaining mortgage balance, serving as a key indicator of financial stability for homeowners.In the workplace, equity follows a similar principle as it ensures that all employees have access to the tools, opportunities and support needed to succeed. Just as financial equity helps businesses and homeowners build long-term value, workplace equity creates a foundation for sustainable growth by removing systemic barriers and fostering fair opportunities for all to advance.
Research consistently shows that diverse communities outperform homogeneous ones, leading to greater innovation and stronger financial performance.As for inclusion, I am reminded of the statement that “diversity without inclusion is like inviting people to a party but not allowing them to dance.” For businesses, inclusion means fostering a culture where employees from all backgrounds can thrive.
It requires intentional efforts, such as employee resource groups, leadership training and clear policies that address bias and discrimination. The results are typically higher retention rates, employee satisfaction and productivity.From my experience in this evolving field, businesses cannot afford to abandon these efforts.
Ola Joseph, a Nigerian author wisely stated, “Diversity is not about how we differ. Diversity is about embracing one another’s uniqueness.” When businesses foster inclusive environments, they drive innovation, attract top talent and expand their customer base.
Sign up for Viewpoints, an opinion newsletterNow is the time for businesses to review policies, practices and marketing strategies. Here are a few steps organizations can take:Conduct diversity, equity and inclusion audits to assess policies, practices, marketing, hiring, promotion and retention practices.Implement training programs that promote inclusive leadership.
Engage with diverse community organizations to strengthen local partnerships.By prioritizing the work of diversity, equity and inclusion, businesses can grow. The question is not if this is necessary, it’s whether we are willing to take steps to create lasting impact.
By broadening our perspective and embracing the full scope of DEI, we shift from divisiveness to collective progress, ensuring that no one (including white men) are left behind.ClauDean Kizart, Ed.D.
, of Portsmouth is a consultant, speaker and author of “Beyond Implicit and Explicit Bias: Strategies for Healing the Root Cause of Inequity in Education.” A distinguished diversity, equity and inclusion-certified leader with more than 25 years of experience, she specializes in fostering inclusive environments in education, nonprofits and businesses. Email her at at dockizart@gmail.
com..
