Differences Between Diversity, Equity & Inclusion
I’m sure you’ve seen the terms diversity, equity and inclusion all over the place, especially recently. Many companies are building out diversity, equity and inclusion (DEI) teams in an effort to fight against the racism and discrimination that has plagued this country for far too long. These terms seem to be the new trend. But what do they mean and how are they different?
Diversity in the workplace refers to the existence of differences within a given setting. It means celebrating differences, especially when it comes to underrepresented groups. Each and every person is unique. Creating diverse teams includes having a fair representation of people with differing belief systems, socio-economic statuses, races, ages, ethnicities, physical and mental abilities, genders, sexual orientations, and other ideologies.
Equity is a process that recognizes that not everyone had the same access to opportunities in their lives. It acknowledges that there is an imbalance that needs to be addressed and corrected. Equity must be continuously and consistently worked on to ensure that people have access to the same opportunities to learn, grow, contribute and develop.
Inclusion, sometimes referred to as belonging, means that all people, regardless of their differences, feels valued, accepted and welcomed. It means that their skills are appreciated and leveraged. It is a deliberate action that gives everyone a voice and shows people that they are appreciated.
While some people may think that including DEI practices into their companies aren’t very important, implementing a DEI initiative can be the key to business success for several reasons. Companies with an equitable, diverse and inclusive workplace tend to outperform competitors and earn higher profits. They have lower turnover rates, tend to be more innovative, and have an increased employer branding.
Diversity, equity and inclusion work together to create ideal practices in the workplace. Having a diverse team means that your team is made up of people with different backgrounds. Having equity on your team means that they are being given fair opportunities while recognizing that some people have had more of an advantage than others. Being inclusive means that everyone has a voice, is valued and appreciated. All of these dynamics work together to create a lasting, consistent, positive experience.
Diversity, equity and inclusion efforts are more than just business goals, and are more than just a trend that will pass. They are important to creating real, lasting changes.
