Inclusion is central to unleashing the true potential of diversity - be it visible, like gender, race, ethnicity, and age, or invisible, like social background, education and sexual orientation. While creating an inclusive culture is easier said than done, many organizations are making visible and sustainable progress in diversity and inclusion.
The value of cultivating a diverse and inclusive workforce in organizations has been proven many times over. However, it isn’t only about the business case. It is also about doing the right thing.
1- Closing the gender gap in the workplace could add $28 trillion, or 26%, to the value of the global economy by 2025.
Gender diversity increases an organization’s value and profitability.
2- Companies in the top-quartile for ethnic and cultural diversity on executive teams are 33% more likely to have industry-leading profitability.
Racially and culturally diverse executive teams increase profitability.
3-By the year 2025, 75% of the global workforcewill be made up of millennials. A majority of these future leaders actively seek out a diverse and inclusive workplace.
EI&D must be central to the company culture for a millennial workforce.
4-Listed European companies with a relatively large percentage of women at senior levels show a relatively strong share-price performance.
Organizations with more women in senior positions show better outcomes for investors and for society.
We believe that a sense of shared responsibility along with a genuine commitment to long-term, meaningful action is vitally important if society is to confront and resolve issues that continue to affect in disproportionate ways the most vulnerable and disadvantaged among us. We believe we all have a role to play to ensure more equality and fairness.
In our work with more than 11,000 senior executives each year, we actively challenge the biases – conscious or subconscious – that we encounter. We encourage business leaders to consider the impacts of their decisions, and encourage them to reduce deeply ingrained inequalities and contribute to a more inclusive and sustainable future.
Most importantly, we ask leaders and organizations this fundamental question: What do you stand for?
• Emerging data on the workforce impact of the COVID-19 pandemic indicates that women are more adversely affected than men, impacting talent pools and gender distribution in organizations.
• Black, Asian and other ethnic communities have been disproportionally affected by the pandemic, from mortality rates to unemployment and bankruptcy.
• Many LGBT+ executives still find it difficult to bring their full selves to work. Research indicates that 46% of LGBT+ individuals are closeted at work.
In the past, leaders worked in mostly homogenous teams, operating from a single, shared perspective, applying a Western lens very often. In today’s globalized world, many organizations and businesses face a complex reality: a changing workplace, digital exposure, an intensified war of talents, reputational management and a consumer expectation of them to take a stand and act. To continue to grow, organizations must visibly mirror their stakeholders, partners and clients, and represent their expectations.
Leaders need – more than ever – to be able to recognize, attract, develop and retain all talents, model inclusive leadership in all circumstances, and recognize and address micro-inequities in order to cultivate high-performing teams to promote business growth, for adaptivity in turbulent times, and to strive for a more diverse, inclusive and fair future.
Today, knowing how to grow diversity and implement inclusive leadership has become a ‘must have’ management skill.
Knowing how to translate good intentions into real and sustained behavioural change is the largest hurdle most of our clients currently face
We can influence current and future leaders to help their organizations work toward a more diverse, inclusive and fair future.
Are you at the beginning of your EI&D journey?
If you are at the beginning of your equity, inclusion and diversity journey, you might ask yourself: What do we want diversity for? How can we select areas of focus? How can we design an impactful plan with measurable and tangible steps? How can we define and explain inclusion?
Have you been working on EI&D for some and have stalled?
If you have been working on EI&D for some time but have stalled, you might ask yourself: How can we get ‘in-group’ members more proactively involved? How can we translate inclusion into tangible steps? How can we see inclusive behaviours take hold during pivotal moments - for example during the hiring process, talent recognition, promotion and performance?
Have been working on EI&D for decades?
If you have been working on EI&D for decades, developed thought leadership and shaped the conversation in this field, you might wonder: Who can challenge us further? Who can help us grow in our approach and thinking?
Using a collaborative approach, we engage with organizations at all levels, from the C-Suite to individual contributors, to work together to create a strategic, personal or operational level and support your EI&D ambitions.
Would you like to discuss your EI&D needs and ambitions? Get in touch with our Senior Advisor, Equity, Inclusion & Diversity Josefine van Zanten by filling in the form at the end of the page.
IMD’s own equity, inclusion and diversity journey: taking conscious action
We strive to ensure that IMD is free from discrimination based on race, color, national or ethnic origin, ancestry, age, religion, disability, sex, gender identity, sexual orientation or any other characteristic. Our goal is that IMD will be a safe and welcoming place for all people – a place that encourages open debate with compassion, respect and support. This will make the world of work – the part of the world we can influence most – more diverse, inclusive and fair. We know that reaching this goal requires more effort on our part. We take our mission and responsibility to heart, and are committed to intensify our efforts in four key areas:
Over the last few weeks, global anti-racism protests and the havoc wreaked by the COVID-19 pandemic on many communities and countries have exposed social inequalities in a very bright light, and provided all of us with the impetus for renewed action.
As a global, independent academic institute, we are guided by a strong sense of purpose: Challenging what is and inspiring what could be, we develop leaders who transform organizations and contribute to society in a positive and sustainable way. This purpose anchors our sphere of influence to the world of business and learning, while also compelling us to lead by example.
Focusing on the role of business in society, we believe that a sense of shared responsibility along with a genuine commitment to long-term, meaningful action is vitally important if society is to confront and resolve the issues that continue to affect in disproportionate ways the most vulnerable and disadvantaged among us. In our work with executives and organizations, we actively challenge the conscious and unconscious biases of our community and audiences, including the more than 11,000 senior executives with whom we work annually. We encourage business leaders to consider the impacts of their decisions, to reduce deeply engrained inequalities and to contribute to an inclusive and sustainable future.
Closer to home, we strive to ensure that IMD is free from discrimination based on race, color, national or ethnic origin, ancestry, age, religion, disability, sex, gender identity, sexual orientation or any other characteristic. Our goal is that IMD will be an even safer and welcoming place for all people – a place that encourages open debate with compassion, respect and support.
Making the world of work – the part of the world we can influence most – more diverse, inclusive and fair will be an ambitious pursuit. We know that reaching this goal requires more effort on our part. We take our mission and responsibility to heart, and are committed to intensify our efforts in four key areas:
These commitments will contribute to advancing the journey ahead of us. We, as academic institutions, do not change the world by ourselves, although we can influence current and future leaders in positive directions.
We at IMD are committed to encourage and help leaders to strive for a more diverse, inclusive and fair future. Self-reflection is a first step to achieve this because it all starts with the person in the mirror. We encourage you to join us on this meaningful journey.
IMD - The Institute for Management Development
Our EI&D approach is based on a change model that has been tested in many organizations - for example, HP, Royal Dutch Shell, Royal DSM - and has resulted in tangible and sustained results.
The IMD EI&D Council plays the role of sounding board, where opportunities and hurdles are identified, addressed and acted upon. Members act as role models, allies and visible advocates, and oversee areas for change.
At IMD, staff, faculty, students and alumni are represented on our EI&D Council, ensuring a well-rounded source of voices. The EI&D Council is headed by our Senior Advisor, Equity, Inclusion & Diversity, who reports directly to our Executive Committee and our President.
We encourage you to join us on this journey!
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Would you like to discuss your EI&D needs and ambitions? Get in touch with our Senior Advisor, Equity, Inclusion & Diversity Josefine van Zanten.
