Diversity drives innovation , business growth and profitability . In light of this , Diversity , Equity and Inclusion is an integral focus of One Southern Indiana , with a full-time manager and a firm board commitment to help Minority Business Enterprises overcome unique barriers to form , grow and become sustainable in Southern Indiana .
From actively promoting connections with minority suppliers and building new roundtables , to creating and hosting special events and seeking out more effective ways to engage with our minority businesses , we are dedicated to ensuring that our business community more closely resembles the overall community , and that all feel included and feel a sense of belonging .
WHY DIVERSITY , EQUITY & INCLUSION ? First , because it ’ s the right thing to pursue . But beyond that , it ’ s good for business .
DE & I IS PROFITABLE . According to a McKinsey report , top companies prioritizing ethnic and cultural diversity were 36 % more profitable than those on the bottom . And companies with more diverse executives were 36 % more likely to see above-average profits .
CUSTOMERS CARE ABOUT IT . Brands with the best diversity scores enjoy an 83 % higher consumer preference . And 80 % of consumers favor companies that support underserved communities and minority-owned business .
IT BOOSTS INNOVATION . Different perspectives and viewpoints are critical in trying to brainstorm new ideas , develop new products and find new ways to engage customers . New insights challenge the status quo .
IT AIDS RECRUITMENT AND RETENTION . Globally , 86 % of candidates say diversity , equity and inclusion matters to them . And 70 % value a commitment to diversity among potential employers .
5 STEPS TOWARD DE & I
A McKinsey Report entitled Diversity Wins : How Inclusion Matters highlighted five action steps for business leaders .
1Bring diverse talent into executive , management , technical , and board roles , going beyond gender and ethnicity .
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Place key leaders and managers at the heart of the inclusion effort beyond HR , and hold all leaders accountable for progress .
Ensure a level playing field in advancement and opportunity , with analytics to show promotion and pay processes and criteria are transparent , fair and unbiased . Set and meet diversity targets .
Adopt a zero-tolerance policy for discriminatory behavior and establish norms for open , welcoming behavior .
Build a culture where all employees can bring their whole selves to work . Visibly embrace a commitment to multivariate forms of diversity .
To learn more , contact Shannon Paddymo at ShannonP @ 1si . org .
IT LEADS TO HIGHER ENGAGEMENT . An organization that welcomes individuals of all backgrounds and values their contributions enjoys higher employee engagement , lower turnover and higher profitability . www . 1si . org
2022 Diversity Magazine 15