August 19, 2021
DEI also known as EDI or DIE refers to equal treatment and opportunity regardless of factors such as race, age, gender, sexuality, or other characteristics, as well as establishing a sense of belonging for all individuals within an organisation . Companies are starting to invest more time, effort, and money in this space given the positive implications of creating more diverse, equitable, and inclusive teams.
We love the following quote by Liz Fosslein as it encapsulates the essence of diversity and inclusion:
“Diversity is having a seat at the table, inclusion is having a voice, and belonging is having that voice be heard.”
When organisations prioritise and embrace DEI, the benefits that align are boundless. Companies that value DEI experienced a 20% growth in innovation; a 35% increase in productivity; and were more profitable when compared to businesses that had substantially lower diversity . We can infer through past research and studies that DEI-focused workplaces are better equipped to produce higher-performing, happier, more innovative, and engaged employees – the statistics don’t lie!
You’ll also find that inclusive family-friendly workplaces supporting their working carers have greater success in achieving a fairer gender-balanced workforce, as most primary carers leave, 95% to be exact, are taken by women .
So yes – DEI is quite a big deal, as it should be in today’s modern era.
We sat down (virtually) with Cotton On Group’s HR expert, Michelle Welsh to learn about the exciting initiatives that promote DEI in her workplace. Michelle sheds light on the changes to DEI throughout her 13 years at Cotton On Group; the successes and challenges; and provides some valuable tips to help you get started on your DEI journey.
Watch the full webinar with Michelle and KidsCo’s Co-founder Laynton Allan as they unpack DEI in the video below:
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