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Diversity + equity + inclusion = belonging

Belonging matters.  Diversity, Equity, and Inclusion matter. The facts are in the numbers:

Only 40% of women feel satisfied with the decision-making process at their organization, compared to 70% of men.

Over 30% of LGBTQ employees report being unhappy or depressed at work because of their identity. [1]

More than one-third of people of color hide their true selves at work. [2]

83% of senior managers and 85% of executive roles are occupied by white employees. [3]

We cannot become what we cannot see. We cannot create belonging for all of us without defining what we want to achieve.

Diversity

Diversity is what makes us unique: who we are and what’s important to us.

How diverse is your workforce?

Each person brings their perspectives and insights, work and life experiences, strengths, and ideas.  These are fostered by the unique experiences we bring to work brought about by who we are as people. The power of diversity is only generated when organizations recognize, respect, and value these differences.

Diversity, Equity, and Inclusion | Corvirtus

Equity and inclusion

Think of a time you felt you were treated unfairly.  Now think of a time you felt that you didn’t belong.

Equity at work means we receive equal rewards for equal contribution.

Inclusion is a sense of belonging, significance, and value – an organization’s effort to create and maintain a collaborative, respectful, and supportive environment and culture that increases the contributions of its people.

A diverse workforce is not enough.  Not enough for reaching best-in-class results – or for creating a place where we can be our true selves and flourish.

Inclusion means you’re actively seeking to make people belong.  And this comes in part by ensuring fairness and respect: equity across peers.

Diversity, Equity, and Inclusion | Corvirtus

Diversity, equity, and inclusion: Being best-in-class

Greater decision-making

teams outperform individuals 90% of the time

Up to 60%

greater reported levels of creativity, innovation, and openness.

Greater financial returns

diverse organizations outperform competitors by 35%

Equity

Equity is the fair treatment, access, opportunity, and advancement for all members of an organization. It’s an organization’s efforts to identify and eliminate all barriers that prevent the full participation of its people.

With strong roots in employee motivation and engagement, equity has major implications for retention. Employees evaluate their work environment in terms of what they put into it and what they receive in return. For example, a top performer with a strong work ethic may expect to receive something positive in return over time, such as an increase in pay or a promotion. If their expectations go unmet, they are likely to perceive their work environment as inequitable, and will search for work elsewhere.

Improving equity requires improving fairness and justice within the procedures and processes of an organization and the distribution of its resources.

Diversity, Equity, and Inclusion | Corvirtus

Fairness and justice

In a study of over 400 businesses, perceptions of organizational fairness and justice were identified as a key driver of employee motivation. To create a work environment that focuses on diversity, equity, and inclusion, and enhances the employee experience, organizations must have policies and systems, such as compensation and performance, in place that ensure a clear understanding and equitable treatment of employees. [4]

Perceptions of fairness and justice are affected by the following:

  • How rewards and resources are distributed. Employees need to feel that all distribution is fair and equitable.
  • Fairness and transparency in the policies and procedures by which decisions are made. These decisions include the distribution of rewards and resources, and employees need to understand the ‘why’ behind the decision.
  • How employees are treated. Employees need to be treated with compassion and respect, and with a strong sense of belonging, significance, and value.
Diversity, Equity, and Inclusion | Corvirtus
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