Making DEI a standard part of business practice is crucial, and it is now more important than ever to be doing so. It is proven that an inclusive, diverse workplace, where everyone is respected, increases creativity and innovation, promotes higher quality decisions, and enhances growth. But where do you start embedding DEI into your strategy?
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Defining Diversity, Equity & Inclusion
The first step to embedding Diversity, Equity, and Inclusion in your firm, is defining exactly what it is in your workplace and ensuring there is a shared understanding across your organization. Although the three are intrinsically linked, it’s important to remember that they are still distinct concepts. It’s essential to keep that in mind when planning your DEI strategy.
The Importance of DEI
DEI is crucial to the success of your firm. It has been already proven that organizations who have a diverse workforce have a higher success rate. With a DEI strategy in place you will be able to attract and retain top talent. It is the people that make up an organization and it’s those people that drive change. With a diverse and inclusive workforce, along with an equitable culture, you will create a dynamic work environment that inspires creativity and innovation. Having the right talent allows firms to better relate to client experiences. Creating a diverse environment also increases the likelihood of retaining that talent. DEI also allows for growth and innovation. It is a key driver of financial performance as your workforce will be more adaptable and creative. Through cultivating a productive and engaging workplace culture, you are set to get the best out of your employees and in turn, your firm.
Embedding DEI into your organization
You will need to get your business decision-makers on board. Once you’ve made your case and your rationale as why there is a louder call and need for DEI, you will be able hit the ground-running when it comes to embedding DEI in your firm. If leadership transparently show they are committed to DEI, this will naturally filter down throughout the organisation.
Once you have made sure leadership are aware of the importance of DEI, it should then be built into your overall business strategy. Start by defining your DEI purpose, vision and values. It is then crucial to ensure that DEI is a part of your hiring process. This is an essential step when it comes to building workplace diversity. The accounting profession is rapidly changing and firms need to provide a value added advice. This will require the right talent and culture to drive innovation and to better relate to client experiences
PrimeGlobal are proud to have signed the action pledge for Diversity and Inclusion along with seven other PrimeGlobal member firms. To start your DEI journey and hear from those trailblazing in their DEI efforts, join us for our Diversity, Equity, and Inclusion Insights Panel on March 24th.