DEI is practiced throughout companies to perform at a more efficient production within a workplace while creating a competitive advantage against its competitors.
What makes DEI important? Is it the practice or the way employees feel within a work setting? If it is a leading advantage how can I make my business more efficient and productive when using this practice?
Fashinnovation has you covered in answering those burning questions at hand. Read the article below to understand DEI and how impactful this practice is.
What is the term ‘DEI’ exactly?
DEI is a set policy for a workplace to make people from all backgrounds feel ensured and welcomed. This practice makes the workplace flow more easily and allows the employee to perform to their fullest.
Diversity refers to the presence of differences within a workforce. This term may include race, gender, religion, sexual orientation, ethnicity, nationality, gender identity, and socioeconomic background that employees have.
Equity is the practice of promoting justice, ensuring that programs and processes are fair, impartial, and come out in every possible way. Knowing how to tackle issues requires understanding the root of these issues.
Inclusion refers to the practice of making sure people feel included and making them feel a sense of belonging within a space or workplace. Employees will feel comfortable and supported by the organization for who they are and feel the space is welcoming.
What makes each pillar of DEI important?
Importance of Diversity
Diversity within a workplace or business creates a space for different backgrounds ultimately producing more points of view. The result of having diversity leads to better ideas and solutions.
Different perspectives can influence a product or service that is being offered to the consumer.
Perspectives make better products or services given different life experiences. In fact, diversity is beneficial by creating innovation and bringing unique solutions to problems that may arrive with unique products or services.
For equal conditions across all areas of the organization in a business, equity is present.
Equity requires employers and businesses to pay attention to issues and advantages, Yet there is a significant difference between the terms “equality” and “equity.”
Equality means that individuals or a group take on the same opportunities and same resources while Equity acknowledges each person has different situations and has the same access to the same resources and opportunities to reach an equal outcome.
Equity’s primary goal is to recognize barriers and eliminate them so individuals give full participation within an organization. Equity provides more diverse decision-making, a diverse workplace, specific employee demographics, lower dissatisfaction, and contributes to the whole team reaching a shared mission.
Inclusive culture should encourage individuals to be themselves in the workplace. Individuals within the organization should not hide their identity and should be able to express themselves freely.
The truth is inclusion maintains diversity, without inclusion, there would not be a workplace. People want to be able to belong in a place and not feel excluded.
Wrapping it Up
With strong DEI practices, voices will be heard, and increase in major improvements in the workplace will expand.
Workforce DEI benefits in many ways and creates a competitive advantage for companies. Benefits such as strong financial performance, innovation, growth, employee engagement, and better decision-making occur when used throughout all areas of employment.
DEI in Action: Brands that Practice DEI
Fashion retailer Neiman Marcus incorporates culture within its employment. The brand has developed policies and practices to become more inclusive and promote a sense of ‘belonging’ within its workspace.
In addition, the Group’s Chief People and Belonging Officer, Eric Severson has previously discussed, throughout platforms, the big outcomes of DEI and how it can strengthen trust within an environment.
Severson mentions that DEI can make a workplace like Neiman Marcus, productive and transparent. With a strong direction, the brand knows how to develop a strong competitive advantage.
The widely recognized brand Adidas has a strong backbone in the DEI practice.
The retailer’s commitment to DEI is strong and dedicated, with investments of up to $120 million towards ending racism and supporting diverse communities. The brand executes greatly in this aspect, especially with the inclusion of diverse employees within its workforce. It has continued to increase throughout the years, committing to DEI within its workplace.
Their organization has included DEI training, an Inclusivity development program, e-learning modules, policies, its own DEI council, diverse suppliers, workplace playbooks, and expansion knowledge of diverse holidays. Making the brand know that it excels in DEI.
Savage X Fenty By Rihanna
Singer Rihanna has tackled DEI in many ways from her clothing line to her makeup line.
She includes everyone’s skin color and size to satisfy the consumer’s needs. Her products appeal to anyone and are authentic. In her line Savage X Fenty, her main focus is on inclusivity.
From plus-size models to gender-neutral products, there is a sense of inclusion and diversity within her brand. This star’s success has greatly contributed because of the variety of sizes, skin tones, ages, and gender.
Within the mainstream Fenty has made it possible for other brands to catch up by diversifying their products. DEI within the brand has articulated how important it is for consumers.
What can you do to include DEI within your Business
Here are some steps you can take to develop or improve DEI (Diversity, Equity & Inclusion) within your business.
DEI training within your business, creating employee feedback, creating a more diverse culture, strongly encouraging collaborations and teamwork, elevating the hiring process for more diversity, improving leadership, and promoting pay equity!
To learn more about Rihanna’s clothing line and how it excels in practicing DEI, read the article, Savage X Fenty Show Vol.4: Diversity & Inclusion Can Perform Sexiness!