I hope you've all had a productive start to the year. In lieu of our traditional "update" newsletter, I wanted to share a few thoughts on a topic close to my heart: diversity & inclusion.
When I entered the C-Suite and had the authority and the power to influence the teams around me – I hired and developed a high-performance team and put diversity to work.I know what it’s like to be overlooked, underestimated, disregarded, and sometimes disrespected. I know what it’s like
to be excluded and under-leveraged. As you consider integrating diversity & inclusion into your business strategy, I wanted to share a few thoughts from my experience on how to do that effectively:
1) Diversity is not a nice-to-have; it's a must-have. Ethnically diverse organizations are 35% more likely to outperform their peers. Companies in the top quartile for gender diversity are 15% more likely to have financial returns above their respective national industry medians.The data are clear, and yet we often treat diversity like it’s the "nice" thing to do. The reality is that, if you want to grow, learn, and solve tough problems – you have to have bring new perspectives to the table. You have to be challenged. Diversity is absolutely a must-have for your bottom line, and you have to role model that belief for your team.
2) Start with a qualified, diverse slate of candidates. We are tribal people by nature – which means we are more comfortable with people like us; people who think like us, who look like us, who have the same experiences. It means we probably go back to the same places to find candidates for open roles. Is it any surprise we end up with a slate that lacks diversity? You have to hold yourself and your team to a higher standard. Do not move forward with the decision-making process until you have identified a qualified, diverse slate of candidates. Every time. 3) "But she's never done this job before."
You’ll hear a lot of resistance when you undertake this process. That’s natural. You’ll likely hear about the risk in hiring someone who has never done the job before. That’s often the case for someone who is different. The reality is that the risk of having a team of people who all think the same is actually much greater, because you won’t solve your toughest problems. Look beyond the job experience to the skills and qualities that are needed to do the job well. You may have to provide additional support and resources to ensure they are then able to do the specific job you are filling. Make sure that’s a part of the hiring process – identifying the skills and qualities – and then the resources they need to do the job well. You
want to set them up for success.
One of the most important lessons I have learned over the years is that human potential is our greatest resource. It’s our only limitless resource and it’s the only resource we need to solve our most intractable problems.
If you're looking for more great resources on building your diverse team, I've included some pieces I've been reading and that I hope will spark your thinking.
Diversity & Inclusion in Corporate Social Engagement
A Report by CECP
The relationship between business and society is undergoing profound transformation. Leaders in corporate, government, and civic society are increasingly calling for business to rethink
its fundamental purpose, look beyond economic value, and make a more meaningful impact on social issues. As business embraces this purposedriven leadership more fully, CECP has been tracking a growing focus on diversity and inclusion (D&I) among corporate social engagement (CSE) executives. CECP’s monitoring has spanned a range of perspectives, including structure, accountability, and reporting.
The Challenges Facing Diversity, Inclusion, and Equity Leaders
Adweek
The responsibilities of chief diversity officers and the like have changed over the years. Early iterations of the role primarily focused on getting talent from various backgrounds through the door, but it now encompasses far more.
The world of philanthropy is having its reckoning when it comes to equity, and the time couldn’t have come soon enough. Across the country, organizations are seeking to be more thoughtful about how they approach the communities they serve and take steps to embed equity into their work. But it takes more than talking a good game to bring good intentions to life. To make legitimate progress, we must move beyond words and into actions.
