Equity, Inclusion and Diversity
Here are the facts:
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 workforce will 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.
Did you know…
• 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 LGBTQ+ executives still find it difficult to bring their full selves to work. Research indicates that 46% of LGBTQ+ individuals are closeted at work.
Inclusive Future: IMD Research on Equity, Inclusion & Diversity
How to measure inclusion and inclusive leadership to create inclusive pluralistic organizational cultures that are resilient to navigate turbulent times? The independent academic research Inclusive Future delivered by IMD and sponsored by Philip Morris International (PMI) answers this question and provides state-of-the-art definitions of inclusion and inclusive leadership and best practices to measure them for accelerated impact. Divided into three parts, we scrutinize the concept of inclusion, how it is measured, and how inclusive leadership can help in creating sustainable inclusive work cultures.
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 behaviors 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 for Equity, Inclusion & Diversity Josefine van Zanten by filling in the form at the bottom of the page.
OUR JOURNEY
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 intensifying our efforts in four key areas:
- Ensuring that IMD’s stance against any form of discrimination and injustice continues to be enshrined in our values and beliefs and is applied in our daily interactions
- Overseeing broader diversity in our workforce and creating an inclusive environment for all our constituents, led by our Senior Advisor, Equity, Inclusion & Diversity and supported by our Executive Committee, faculty and staff
- Intensifying our research in the areas of diversity, inclusion and fairness
- Including these topics in all our leadership development programs
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 a 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.
By Josefine van Zanten and Alyson Meister, 27 May 2020
The topic of setting Diversity & Inclusion targets may never have been more timely: emerging data on the workforce impact of the pandemic has indicated that women are more adversely affected than men.
