Diversity and Inclusion: Good for Business and for Everyone

 

“Diversity and inclusion” is a phrase we hear so much that sometimes it seems as if the words are almost synonymous, when in fact they actually mean different things.

It’s important to understand the difference in order to create a truly inclusive society and workplace environment. It’s also essential to becoming a culturally competent communicator.

Let’s start with some basic definitions. Diversity simply means the presence of individuals from a variety of backgrounds, particularly those from historically marginalized groups including women, people of color, the LGBTQ community and people with disabilities.

Inclusion occurs when members of these underrepresented groups feel truly welcomed and have opportunities for advancement into decision-making positions. According to social science expert Kendall Park, inclusion means that “all members of a society have the same opportunities, that people from all groups are valued and respected and that everyone has a voice.”

And as a growing body of research shows, inclusion is more than just the right thing to do. It’s also good for business.

A recent study by McKinsey analyzed publicly available information on over 1,000 companies in North and Latin America, Europe, Asia/Pacific and Sub-Saharan Africa. Results consistently showed the value of having diversity in leadership positions:

  • Companies with culturally and ethnically diverse executive teams were 33% more likely to see above-average profits.
  • Those with diverse boards of directors were 43% more likely to report above-average profits.
  • Gender diversity in leadership resulted in a 21% greater likelihood of above-average profits.

Unfortunately, ample evidence also reveals that we still have lots of work to do in order to create a truly inclusive society:

  • Women still only earn about 80% of a man’s salary for the same job.
  • About ⅓ of women of color have been passed over for a promotion.
  • 54% of LGBTQ individuals fear hate crimes, and another 64% have left a job because of bullying or public humiliation.

At the organizational level, inclusion must go beyond tokenism to developing culturally competent communication and proactively seeking out underrepresented groups for input during the hiring and promotion decision process, not just as employees. This can help organizations enjoy lower turnover while creating a workplace environment where everyone feels valued.

The upcoming Connection Summit in Springfield, MO, sponsored by PRSA and AWC Springfield seeks to develop inclusive communicators within our community.

Throughout the day, attendees will be treated to engaging presentations promoting cultural competency, cross-generational communication and changing consumer expectations. The event will conclude with reflections by Lyle and Larnelle Foster on their journey as African American men.

The Communication Summit takes place Thursday, October 25 from 9 a.m. to 4 p.m. at 425 Downtown in Springfield. Want to go? You can register online, and we’ll see you there!


About the Author

Sarah M. Smith is a Content Marketing Specialist with Campaignium, a full-service digital marketing agency located in Springfield, MO. Before joining Campaignium, she was an Assistant Professor of Marketing at Missouri State University where she taught course on Advertising and e-Marketing. Sarah earned her PhD in Mass Communication from the University of Georgia and her undergraduate degree from the University of Alabama.  In her spare time, Sarah is a singer-songwriter and has performed at numerous local events.

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