In the simplest of terms, advancing diversity and inclusion is the right thing to do. There is widespread consensus that creating a diverse and inclusive workforce is a moral obligation. What's more, when it comes to the pursuit of profit, the data shows it is good business too. Even so, most organisations still have a long way to go.

Ideally, a diverse and inclusive workplace is one which reflects the demographics of the labour force and where the only measure of a person is merit. This ensures companies hire and develop the best talent and value employees based on their contributions rather than attributes that are in no way relevant to their ability to perform their role.

However, major disparities remain, including lower hiring rates among equally qualified applicants with the only differentiating factors being race and/or gender, underrepresentation of women and people of colour in top leadership roles, and greater frequency of negative experiences such as bias and stereotyping among these groups.

All this is not to say that progress has not been made. The engagement of D&I specialists for leadership roles has seen a dramatic increase since 2020 with several major companies appointing their first chief diversity officers (CDOs). Many S&P 500 companies, from Microsoft to McDonald's, have also introduced D&I training and publicly committed to improving hiring practices.

So, what strategies effectively address these long-standing disparities and help create a strategic advantage for organisations? We have identified three with a demonstrated history of effectiveness.

1. Start at the top: ensure C-level executives actively support D&I initiatives

While a powerful step in the right direction, it is not enough to appoint a CDO. The CEO should publicly take a position, assume responsibility for diversity and inclusion goals, and integrate the D&I agenda into company culture. In short, the CEO should lead by example.

Board members have a vital role to play in this and should be actively monitoring and enquiring about the experience and representation of disadvantaged groups as well as the overall progress being made towards D&I goals.

2. Build it into the business: make D&I a core component of the business strategy

Many executives are still inclined to view diversity and inclusion as an HR issue. Nothing could be further from the truth. It should be a fundamental consideration in both the design and execution of any business strategy and firmly embedded in the day-to-day activities of the organisation.

The most innovative companies have a workforce that reflects the full diversity of society as this helps them deliver products and services that appeal to the widest possible customer base while avoiding generalisations and biased assumptions in their pursuit of a competitive advantage.

3. Ask for help: focus more on long-term leadership development coaching

Ultimately, the desired result is a sustained change in behaviour at the organisational level. However, once-off D&I training programmes for employees typically fall short of achieving this outcome. Simply making employees aware of implicit bias is not enough. The most successful D&I initiatives are implemented over time as part of a company-wide strategic approach that equips employees with the necessary skills to affect positive change.

And when it comes to employee engagement, manager behaviour is arguably the most significant factor. As such, coaching managers to make equitable decisions and create an inclusive environment is essential to the success of any organisation's D&I objectives.

It's time for a change

There is widespread consensus regarding both the moral obligations and the competitive advantages of diversity and inclusion in the workplace. For a profit-driven organisation, the only measure of an employee should be merit. It's not simply the right thing to do. It's good business.

Adopting a coherent and systematic approach based on these three strategies will enable leaders to make real progress. To expedite this process, many companies are turning to the objectivity and expertise of external evaluation specialists.

Unbiased hiring and inclusive leadership training

If you don't have a CDO yet, contact Birn+Partners and we'll help you close that leadership gap. As experts in the field of human resources, we have developed well-defined processes that minimise bias in talent acquisition.

Further, we specialise in leadership training and offer coaching and mentoring services that will equip management with the decision-making skills to shape perceptions and create a consistently inclusive workplace.

So, if securing a sustainable competitive advantage and demonstrating to investors that you are committed to a diverse and inclusive workplace sounds like the way forward, give us a call.