Over the past few years, diversity equity, inclusion and belonging (DEIB) discussions have been on the forefront of the employment landscape. Employee demographics are changing, and the country’s pool of available workers continues to include more millennials and members of Gen Z. Traditionally, these groups are known for opting out of traditional work structures and shying away from employment at large corporations, making recruiting talent from these groups challenging for employers.
SHRM, Gallup, and other surveys reveal that these groups rank diversity and inclusion among their priorities when considering job offers. If small businesses want to attract and retain these candidates, their business strategy should, in a sense, mirror that of many large companies by showing a commitment to an inclusive and diverse workforce.
The Academy to Innovate Human Resources offers a clear and comprehensive definition of the foundations of DEIB:
- Diversity: The wider the range of these demographics - demographics, including gender, age, ethnicity, race, sexual orientation, location, nationality, disability status, etc., - the more diverse an organization is and, creating an environment that supports and nurtures diverse employees is what matters.
- Equity: Every employee receives equal opportunities, is treated fairly, and has the resources they need to succeed in their job, regardless of their background.
- Inclusion: All employees are treated with respect and care, despite any differences, and made to feel welcome, valued, and heard.
- Belonging: All employees should feel accepted, valued, and heard at work. Regardless of how long an employee has been in the company or team, they should feel welcome and free to contribute to discussions.
Promoting diversity in life experiences, knowledge, adaptability, and problem-solving skills of those with varied backgrounds opens up a world of growth for small businesses. These innovative a ways of thinking benefit smaller businesses that wish to be agile and remain relevant as technology and customers change. DEIB is also about the motivation behind someone’s drive and decision-making process. Gen Z and millennials seek fulfillment and have a heightened focus on environments that are accepting and make them feel valued.
While not all small businesses have the resources to create departments or resource groups specifically committed to DEIB,there are ways to embed DEIB into the culture without breaking the bank:
- Mission statements are free: Draft a mission statement that truly reflects the company’s culture, socioeconomic beliefs, and corporate responsibility stance. Actions, such as donating to causes that support and promote DEIB, that match the mission statement are imperative for a small business to attract and retain talent. Involvement in local groups that promote diversity and inclusion are a fantastic way to catch the attention of jobseekers.
- Assess your current workforce: Successful integration of DEIB means having a workforce that reflects the community that sells and purchases a company’s products and supports causes that promote inclusivity and equal representation.
- Make DEIB a part of your management’s fabric and goals: A commitment to DEIB is often a dealbreaker if employees suspect a cursory attempt versus a genuine commitment to respecting and valuing everyone for their authenticity and unique contributions. Ensure current managers understand the importance of DEIB in relation to a business’s success and long-term goals.
A small business owner’s commitment to DEIB can tip the scales in their favor as they compete for candidates even when the total compensation package is smaller than a large competitor’s.
Final takeaways:
- Diverse workforce increases job satisfaction and employee engagement which benefits the business in the long run.
- Job seekers value DEIB when evaluating job offers.
- Different perspectives spark innovation, improve productivity and increase profit.
- Representation of diversity in workforce can increase brand recognition.
Sources:
AIHR | Academy to Innovate HR | Online HR Courses & Certifications