{"id":1655,"date":"2021-08-01T00:00:00","date_gmt":"2021-08-01T04:00:00","guid":{"rendered":"https:\/\/www.dhrglobal.com\/2021\/08\/01\/future-ready-leaders-diversity-isnt-trend-its-cultural-reset-your-organization\/"},"modified":"2022-07-28T14:38:06","modified_gmt":"2022-07-28T18:38:06","slug":"future-ready-leaders-diversity-isnt-trend-its-cultural-reset-your-organization","status":"publish","type":"post","link":"https:\/\/www.dhrglobal.com\/insights\/future-ready-leaders-diversity-isnt-trend-its-cultural-reset-your-organization\/","title":{"rendered":"Diversity Isn\u2019t a Trend, It\u2019s a Cultural Reset for Your Organization"},"content":{"rendered":"\n<div class=\"block-hero alignfull  has-breadcrumb\">\n    <div class=\"outerwrap\">\n        <div class=\"wrapper\">\n            <div class=\"copy\">\n\n                                    <ul>\n                        <!-- Breadcrumb NavXT 7.0.2 -->\n<li><a property=\"item\" typeof=\"WebPage\" title=\"Go to Insights.\" href=\"https:\/\/www.dhrglobal.com\/insights\/\" class=\"post post-page\" aria-current=\"page\"><span property=\"name\">Insights<\/span><\/a><meta property=\"position\" content=\"1\"><\/li>                    <\/ul>\n                \n                                    <h1>Future Ready Leaders: Diversity Isn&#8217;t a Trend, It&#8217;s a Cultural Reset for Your Organization<\/h1>\n                \n            <\/div>\n        <\/div>\n\n            <\/div>\n<\/div>\n\n\n<div class=\"block-insights-detail no-intro\">\r\n\t\t<div class=\"meta\">\r\n\t\t<p class=\"date\">August 1, 2021<\/p>\r\n\t\t<p class=\"type\"><a href=\"https:\/\/www.dhrglobal.com\/insights\/#\/type\/functions\">Functions<\/a>, <a href=\"https:\/\/www.dhrglobal.com\/insights\/#\/type\/diversity\">Diversity<\/a>, <a href=\"https:\/\/www.dhrglobal.com\/insights\/#\/type\/insights\">Insights<\/a><\/p>\t\t<p class=\"author\">Authors:<\/p><ul><li><a href=\"\"><\/a><\/li><li><a href=\"https:\/\/www.dhrglobal.com\/consultant\/christine-greybe\/\">Christine Greybe<\/a><\/li><li><a href=\"https:\/\/www.dhrglobal.com\/consultant\/kathryn-ullrich\/\">Kathryn Ullrich<\/a><\/li><\/ul>\t<\/div>\r\n<\/div>\n\n<h2><span class=\"JsGRdQ\" style=\"color: #003d5c;\">How to attract and retain diverse talent, start inclusive conversations, and facilitate meaningful change in your organization.<\/span><\/h2>\n<p class=\"_04xlpA direction-ltr align-justify para-style-body\"><span class=\"JsGRdQ\">In 2021, talent and customers are no longer asking organizations to prioritize diversity, equity and inclusion (DE&amp;I). They\u2019re expecting it, and they\u2019re ready to hold businesses accountable for it\u2014which differentiates the need for DE&amp;I programs from other business initiatives. For most business initiatives, the incentives are straightforward: higher profits, increased efficiency, quicker time to market, and so on.<\/span><\/p>\n<p class=\"_04xlpA direction-ltr align-justify para-style-body\"><span class=\"JsGRdQ\">To be clear, there is absolutely a business case for diversity. While correlation doesn\u2019t equal causation, many studies have strongly implied that diversity has a meaningful impact on a company\u2019s bottom line.<\/span><\/p>\n<p class=\"_04xlpA direction-ltr align-justify para-style-body\"><span class=\"JsGRdQ\">For example, a <\/span>2018 McKinsey study<span class=\"JsGRdQ\"> showed companies in the top 25th percentile for gender diversity on their executive teams were 21% more likely to experience above-average profits. The trend carried through to cultural and ethnic diversity as well, with more diverse executive teams <\/span>33% more likely<span class=\"JsGRdQ\"> to see better-than-average profits.<\/span><\/p>\n<p class=\"_04xlpA direction-ltr align-justify para-style-body\"><span class=\"JsGRdQ\">Yet financial outcomes aren\u2019t the only end goal when it comes to DE&amp;I. The business case is important to make, but for many future-ready leaders, the ethical case and societal impact are just as or more critical.<\/span><\/p>\n<p class=\"_04xlpA direction-ltr align-justify para-style-body\"><span class=\"JsGRdQ\">Today\u2019s consumers are increasingly concerned with supporting businesses that reflect their values\u2014chief among them, an authentic commitment to gender, racial, and LGBTQ+ diversity that doesn\u2019t feel manufactured or solely for profit.<\/span><\/p>\n<p class=\"_04xlpA direction-ltr align-justify para-style-body\"><span class=\"JsGRdQ\">When businesses celebrate events like Pride Month, but don\u2019t follow through during the rest of the year or lack a strong internal culture of supporting LGBTQ+ talent, people notice. It\u2019s easy to determine the difference between genuine effort and halfhearted support.<\/span><\/p>\n<p class=\"_04xlpA direction-ltr align-justify para-style-body\"><span class=\"JsGRdQ\">To help you navigate the complexity of building an inclusive workforce and company culture, DHR&#8217;s Future Ready Leaders series asked three top executives to share advice on how you can attract and retain diverse talent, start inclusive conversations, and facilitate meaningful change in your organization. Here\u2019s what they said.<\/span><\/p>\n<h3 class=\"_04xlpA direction-ltr align-justify para-style-body\"><span class=\"JsGRdQ\"><span class=\"JsGRdQ\">There\u2019s never been more opportunity to hire &amp; develop diverse talent.<br><\/span><\/span><\/h3>\n<p class=\"_04xlpA direction-ltr align-justify para-style-body\"><span class=\"JsGRdQ\">Even in companies that are trying to become more diverse, women, ethnic minorities, and non-U.S.-born employees routinely <\/span><a class=\"JsGRdQ\" href=\"https:\/\/ideas.wharton.upenn.edu\/wp-content\/uploads\/2018\/07\/Castilla-2008.pdf\" target=\"_blank\" rel=\"noopener\">receive smaller increases in compensation<\/a><span class=\"JsGRdQ\"> compared with white men, despite holding the same jobs, working in the same units, having the same supervisors, the same human capital, and importantly, receiving the same performance score.<\/span><\/p>\n<p class=\"_04xlpA direction-ltr align-justify para-style-body\"><span class=\"JsGRdQ\">With career progress and employer bias so clearly defined along the lines of gender and race, it\u2019s no surprise that there are fewer women and people of color in corporate leadership roles. And now that companies have become aware of their own biases, they know it\u2019s time to develop robust DE&amp;I programs that shift the balance and upend this pattern.<\/span><\/p>\n<p class=\"_04xlpA direction-ltr align-justify para-style-body\"><span class=\"JsGRdQ\">At the same time, other shifts are widening the talent pool for corporations. As remote and hybrid work environments become commonplace, companies are finding they have more access than ever to people with different backgrounds and life experiences.<\/span><\/p>\n<p><img loading=\"lazy\" style=\"float: right;\" src=\"https:\/\/www.dhrglobal.com\/wp-content\/uploads\/2021\/09\/3.png\" alt=\"3.png\" width=\"150\" height=\"150\"><\/p>\n<p class=\"_04xlpA direction-ltr align-justify para-style-body\" style=\"text-align: left;\"><span class=\"JsGRdQ\">When discussing the impact hiring remote workers has on diversity, <a href=\"https:\/\/www.linkedin.com\/in\/everettharper\/\" target=\"_blank\" rel=\"noopener\">Everett Harper<\/a>, CEO and Founder of Truss, shares, \u201cWe know there&#8217;s talent everywhere. We have people now in 30 states, we had a person that was in Alaska for a while, and the amazing thing is, yes it gives<\/span>&nbsp;coverage across time zones and so forth, but it also represents different perspectives, different upbringings. And you start knitting together a lot of different perspectives.\u201d&nbsp;<\/p>\n<p class=\"_04xlpA direction-ltr align-justify para-style-body\"><span class=\"JsGRdQ\">For companies looking to diversify their workforce and develop&nbsp;<\/span><span class=\"JsGRdQ\">talent from underrepresented communities, now is the time to widen the net and search out talent where you may never have looked before. As Harper\u2019s experience shows, it can not only <br>deliver better talent overall, but also spark growth within your organization.<br><\/span><\/p>\n<h3 class=\"_04xlpA direction-ltr align-justify para-style-body\"><span class=\"JsGRdQ\"><span class=\"JsGRdQ\">But just hiring diverse talent isn\u2019t enough. Inclusivity takes effort &amp; intentionality.<br><\/span><\/span><\/h3>\n<p class=\"pullquote\"><span class=\"JsGRdQ\" style=\"color: #a4af1d;\"><span class=\"JsGRdQ\">&#8220;Diversity is like being invited to the prom. Inclusion is being asked to dance.&#8221;<\/span><\/span><\/p>\n<p class=\"_04xlpA direction-ltr align-justify para-style-body\"><span class=\"JsGRdQ\">A recent <\/span><a class=\"JsGRdQ\" href=\"https:\/\/hbr.org\/2020\/11\/getting-serious-about-diversity-enough-already-with-the-business-case\" target=\"_blank\" rel=\"noopener\">Harvard Business Review article<\/a><span class=\"JsGRdQ\"> explains it this way: \u201cIncreasing the numbers of traditionally underrepresented people in your workforce does not automatically produce benefits. Taking an &#8216;add diversity and stir&#8217; approach, while business continues as usual, will not spur leaps in your firm\u2019s effectiveness or financial performance.\u201d And it\u2019s true. Hiring diverse talent is only one piece of the puzzle.<\/span><\/p>\n<p class=\"_04xlpA direction-ltr align-justify para-style-body\"><img loading=\"lazy\" style=\"font-size: 10px; float: right;\" src=\"https:\/\/www.dhrglobal.com\/wp-content\/uploads\/2021\/09\/2.png\" alt=\"2.png\" width=\"150\" height=\"150\"><\/p>\n<p class=\"_04xlpA direction-ltr align-justify para-style-body\"><span class=\"JsGRdQ\"><a href=\"https:\/\/www.linkedin.com\/in\/vijay-advani-b5190232\/\" target=\"_blank\" rel=\"noopener\">Vijay Advani<\/a>, Executive Chairman of Nuveen, has the perfect example to demonstrate this.&nbsp;\u201cDiversity is like being invited to the prom,\u201d he says. \u201cInclusion is being asked to dance.\u201d It\u2019s a critical distinction for executives to recognize\u2014that it takes effort and intentionality to include people. In a business setting, if hiring someone is the equivalent of inviting them to prom, elevating their voice and acting on their ideas is the way you can ask them to dance. After all, there\u2019s no use hiring more diverse talent if you\u2019re not also planning to shift the traditional power dynamics in your organization.<\/span><\/p>\n<p class=\"_04xlpA direction-ltr align-justify para-style-body\"><span class=\"JsGRdQ\">This is the key piece for retention as well. If you\u2019re hiring diverse talent, but not supporting them once they\u2019re working for you, you\u2019ll lose them. And that\u2019ll create problems attracting diverse talent in the future.<\/span><\/p>\n<h3>True equity can only be built over time with a learning-centric approach.<\/h3>\n<p class=\"_04xlpA direction-ltr align-justify para-style-body\" style=\"text-align: left;\"><span class=\"JsGRdQ\">You may be thinking: okay, these are good ideas. But what does that look like in the day-to-day operations I oversee? That\u2019s where <a href=\"https:\/\/www.linkedin.com\/in\/georgeazihleasesoftware\/\" target=\"_blank\" rel=\"noopener\">George Azih<\/a>, Founder and CEO of LeaseQuery, can help. To show how LeaseQuery approaches inclusion, he tells a story about how his leadership team formed their new parenting plan.<br><img loading=\"lazy\" style=\"float: right;\" src=\"https:\/\/www.dhrglobal.com\/wp-content\/uploads\/2021\/09\/1.png\" alt=\"1.png\" width=\"150\" height=\"150\"><\/span><\/p>\n<p class=\"_04xlpA direction-ltr align-justify para-style-body\" style=\"text-align: left;\"><span class=\"JsGRdQ\">\u201cWe had a series of calls and meetings, and decided, okay, we&#8217;ve come up with a plan that we feel is&nbsp;<\/span><span class=\"JsGRdQ\">fair and equal to everyone,\u201d he shared. But then he had a realization. They\u2019d never consulted anyone in the LGBTQ+ community. It would have been easy to push forward regardless, but instead, he put a pause on the release, reached out to business contacts to get connected with LGBTQ+ advocates, and earnestly sought their input.<\/span><\/p>\n<p class=\"_04xlpA direction-ltr align-justify para-style-body\"><span class=\"JsGRdQ\">\u201cBased on the feedback we received,\u201d he continues, \u201cWe scratched off entirely everything that we did with our parenting plan and came up with something new that we felt was right. And what that is, is everybody, everybody, no matter if you&#8217;re a birthing parent, no matter if you adopt, whatever you do, you get 10 weeks of parenting time off.\u201d<\/span><\/p>\n<p class=\"_04xlpA direction-ltr align-justify para-style-body\"><span class=\"JsGRdQ\">What Azih\u2019s example demonstrates is a learning-centric approach towards building equity\u2014seeking out experiences, opinions, and needs that are different from his own, then using that information to change how he acts and makes decisions for the company. It\u2019s a perfect example of how leaders can move past token diversity efforts to develop a system that considers and lifts up everyone. It\u2019s also something that takes time. Time to listen, time to redevelop a plan or process when needed, and time to train employees on a new process. That\u2019s the only way to build true equity.<\/span><\/p>\n<h3 class=\"_04xlpA direction-ltr align-justify para-style-body\"><span class=\"JsGRdQ\"><span class=\"JsGRdQ\">Creating a culture of inclusivity &amp; equity at your organization.<br><\/span><\/span><\/h3>\n<p class=\"_04xlpA direction-ltr align-justify para-style-body\"><span class=\"JsGRdQ\">The vast majority of organizations right now are still figuring things out when it comes to developing effective DE&amp;I initiatives. And leaders who have found success in this area are often the first to admit that they\u2019ve made mistakes along the way and continue to face challenges.<\/span><\/p>\n<p class=\"_04xlpA direction-ltr align-justify para-style-body\"><span class=\"JsGRdQ\">It\u2019s important to remember that there\u2019s no one path to progress, but we can give you a place to start. What do successful DE&amp;I programs have in common? They:<br><\/span><\/p>\n<ul>\n<li><span class=\"JsGRdQ\"><span class=\"JsGRdQ\">Have C-Suite commitment, support, and buy-in. This starts with an inclusive approach to their workforce, workplace, and marketplace strategies.<\/span><\/span><\/li>\n<li><span class=\"JsGRdQ\"><span class=\"JsGRdQ\"><span class=\"JsGRdQ\">Build an inclusive methodology designed to attract, hire, and develop the best candidates from <\/span><span class=\"JsGRdQ\">all available<\/span><span class=\"JsGRdQ\"> candidate populations, especially those that are traditionally under-utilized.<\/span><\/span><\/span><\/li>\n<li><span class=\"JsGRdQ\"><span class=\"JsGRdQ\"><span class=\"JsGRdQ\"><span class=\"JsGRdQ\">Foster a culture of continuous learning and hold people accountable to treating others with dignity and respect as well as valuing all voices and perspectives.<\/span><\/span><\/span><\/span><\/li>\n<\/ul>\n<p class=\"_04xlpA direction-ltr align-justify para-style-body\"><span class=\"JsGRdQ\">An authentic approach to DE&amp;I is no longer a nice-to-have, it\u2019s a must-have when looking to hire top talent, engage employees, and develop a healthy work environment. If your organization isn\u2019t already shaping its culture and enhancing its policies and processes to reflect that, now is the time to start.<\/span><\/p>\n<div class=\"qa\"><a class=\"qa_question\" href=\"#\">About DHR Leadership Consulting<!-- arrow indicator --><\/a><p><\/p>\n<div class=\"qa_answer\">\n<h3>We advise clients on their most important leadership &amp; talent management challenges.<\/h3>\n<p>The&nbsp;<a href=\"\/services\/leadership-consulting\/\">DHR Leadership Consulting<\/a>&nbsp;team includes professionals who specialize in Board Evaluation, Executive Assessment, Executive Coaching, High-Potential Identification, Onboarding, Succession Planning, and Team Effectiveness.<\/p>\n<p>We combine unmatched industry expertise with highly sophisticated, data-driven assessment tools to provide actionable results. Rather than create lengthy reports that sit on bookshelves and collect dust, we focus on interpreting the data and helping you make fast and accurate decisions about your talent. At every step of the process, we work as an extension of your team. We help you cut through the clutter, focus on the most important leadership attributes, skills, and behaviors, and gain alignment about what matters most.<\/p>\n<p><a class=\"qa_close\" href=\"#\">Close<\/a><\/p>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>How to attract and retain diverse talent, start inclusive conversations, and facilitate meaningful change in your organization.<\/p>\n","protected":false},"author":2,"featured_media":5295,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[15,14,1],"tags":[32,35,36,101,79],"insights_type":[41],"acf":[],"_links":{"self":[{"href":"https:\/\/www.dhrglobal.com\/wp-json\/wp\/v2\/posts\/1655"}],"collection":[{"href":"https:\/\/www.dhrglobal.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dhrglobal.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dhrglobal.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dhrglobal.com\/wp-json\/wp\/v2\/comments?post=1655"}],"version-history":[{"count":18,"href":"https:\/\/www.dhrglobal.com\/wp-json\/wp\/v2\/posts\/1655\/revisions"}],"predecessor-version":[{"id":13601,"href":"https:\/\/www.dhrglobal.com\/wp-json\/wp\/v2\/posts\/1655\/revisions\/13601"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dhrglobal.com\/wp-json\/wp\/v2\/media\/5295"}],"wp:attachment":[{"href":"https:\/\/www.dhrglobal.com\/wp-json\/wp\/v2\/media?parent=1655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dhrglobal.com\/wp-json\/wp\/v2\/categories?post=1655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dhrglobal.com\/wp-json\/wp\/v2\/tags?post=1655"},{"taxonomy":"insights_type","embeddable":true,"href":"https:\/\/www.dhrglobal.com\/wp-json\/wp\/v2\/insights_type?post=1655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}