Ten Questions About Diversity, Equity and Inclusion (Part 2)

From An Interview With Sarah Hassaine, a global leader in Diversity, Equity and Inclusion.

In today's rapidly evolving global landscape, public companies face an unprecedented challenge to meet their capital market commitments. At the heart of this challenge lies a powerful solution: Diversity, Equity, and Inclusion (DEI). When robustly implemented, DEI not only enriches corporate culture but also drives enhanced financial performance and stakeholder value. Embracing DEI holistically—differentiating and integrating its three distinct facets of Diversity, Equity, and Inclusion—can help businesses effectively navigate societal changes, enhance their global operations, and prepare for future demands. As more companies embark on the journey of incorporating DEI into their core strategies, this commitment fosters resilience, spurs innovation, and ultimately, ensures a company's enduring success in fulfilling its capital market promises.

1. How should a company plan to expand its DEI efforts into new markets or sectors?

Expanding DEI efforts into new markets or sectors requires a localized approach. Input and guidance from local employees are invaluable in designing and executing effective DEI plans. Successful strategies should be driven by employees in the respective regions or sectors, ensuring that they align with the unique cultural, social, and economic dynamics of those areas.

2. What is the roadmap for scaling existing successful DEI programs?

 Scaling successful DEI programs involves several key elements:

1. Champions: Identify and empower DEI champions within the organization who can drive initiatives forward.

2. Resources: Allocate the necessary resources, both financial and human, to support the building, socialization and expansion of DEI programs.

3. Ability to Influence and Create Value: Ensure that DEI initiatives have a tangible impact on the organization's culture, business outcomes, and overall value proposition.

Scaling should be a deliberate and well-structured process, with clear objectives and metrics to track progress.

3. How should a company prepare to meet potential future regulatory requirements related to DEI?

Companies should proactively prepare for potential future regulatory requirements related to DEI. To do so:

1. Understand Current DEI Practices: Gain a comprehensive understanding of your organization's current DEI practices, including data collection, policies, and initiatives.

2. Benchmark Against Existing Regulations: Stay informed about existing DEI-related regulations and requirements at the local, national, and international levels.

3. Develop Intentional Practices: Develop intentional DEI practices that align with your existing organizational culture and values. This includes gathering and analyzing relevant data.

4. Leverage Data: Establish systems for collecting, analyzing, and reporting on DEI metrics to demonstrate your commitment to diversity and inclusion.

5. Stay Informed: Continuously monitor changes in DEI-related regulations and adjust your practices accordingly. Maintain open lines of communication with regulators when necessary.

6. Engage Legal and Compliance Experts: Seek legal and compliance expertise to ensure that your organization is fully compliant with any new regulatory requirements.

4. What partnerships or collaborations are being considered to enhance DEI efforts by best-in-class companies?

Best-in-class companies often collaborate with a range of partners and vendors to enhance their DEI efforts. These collaborations can include:

1. VR D&I Training Providers: Companies may partner with virtual reality (VR) D&I training providers to create immersive and impactful diversity and inclusion training programs.

2. Employee Engagement Event Organizations: Collaborating with organizations that specialize in employee engagement events can help companies create inclusive and diverse gatherings that foster a sense of belonging.

3. Learning Module Providers: Partnering with learning module providers can offer access to cutting-edge DEI education and resources for employees.

4. Disability Inclusion Consultants: Engaging disability inclusion consultants can help organizations become more accessible and inclusive for individuals with disabilities.

5. Accessibility and Inclusive Design Advisors: Collaborating with experts in accessibility and inclusive design can ensure that products, services, and digital platforms are designed to be accessible to all.

5. How should companies consider intersectionality in their future DEI plans?

Intersectionality should be a fundamental value integrated into a company's future DEI plans. To effectively consider intersectionality:

1. Mentoring and Allyship: Encourage leaders and employees to mentor individuals from different backgrounds and become allies to peers, recognizing the complex interplay of identities.

2. Hiring and Management: Implement inclusive hiring practices and management strategies that account for the multifaceted identities and experiences of employees.

3. Communication: Ensure that communication efforts and messaging acknowledge and respect the intersections of race, gender, sexuality, age, ability, and other dimensions of diversity.

4. Learning and Training: Incorporate lessons on the value of intersectionality into the organization's learning modules and training programs.

By acknowledging and actively addressing intersectionality, companies can create a more inclusive and equitable environment where all employees feel valued and supported.