How to Create Equity in the Workplace
Equity in the workplace is an approach that acknowledges an unequal starting place and works to create a balance. Unlike the terms diversity and inclusion that refer to outcomes, the term equity refers to a process.
Equity recognizes that barriers exist and that not everyone has had access to the same opportunities. It must be consistently carried out to ensure that all employees, including those from underrepresented groups, have opportunities to grow, contribute and develop. Aside from just hiring, a truly equitable workplace includes promotions, firings, team creation, task assignments as well as the way your organization celebrates successes, runs meetings and make introductions.
Having an equitable workplace results in higher innovation, employee engagement and reduced employee turnover. This leads to happier employees, a better culture and ultimately greater profits.
What are some steps you can take to create better equity?
Review and assess the situation. Because not every organization has the same needs your first step in any diversity, equity and inclusion program should always be to compile data in order to address any areas of concern. You’ll want to look at things such as pay, promotions and performance criteria to gauge where you should be and set actionable goals to create an equitable culture.
Ensure employees have equal access to trainings and career development opportunities. Career development should be a priority for all of your employees. Ideally managers will have processes in place where they consistently meet with their employees to find out what their career goals are and be able to present them with opportunities to achieve their goals. Sometimes they aren’t sure what their goals are as they may not have had opportunities to be exposed to many areas. Help your employees take charge of their careers. Advise them on what they will need to accomplish to meet their goals. Offer trainings to all of your employees and encourage them to attend regardless if you think it will be relevant to them.
Create a culture that allows for open communication. Employees should feel comfortable speaking up about issues. Leaders must be role models and be open and transparent to foster an environment of open communication. Having the right leadership team is imperative to the culture of your company. They need to consistently reinforce and practice open, transparent communication.
Encourage employee resource groups (ERGs). Employee resource groups are led by employees. They are volunteer groups whose goal is to foster an equitable, diverse, inclusive workplace and company culture. These groups provide support and assistance with personal and career development as well as creating a safe place for employees.
Commit to equity in the workplace. As simple as it may seem sometimes just making a commitment to having an equitable workplace is all it takes to get started on creating a fair environment. Ensure that this commitment is present in all areas of your company including your compensation plans. You can start with making sure you have a transparent compensation system. This reduces bias and discrimination and fosters an environment of fairness and equity.
Add equity to mission or core values. Once you are fully committed to creating an equitable workplace add an equity statement to your mission or core values. This will show clients, customers, current and future employees that you are serious about building an equitable workplace.
While often overlooked, having equity in the workplace is extremely beneficial to organizations. Combining a strong equity strategy with robust diversity and inclusion initiatives creates happier, more successful and profitable companies.
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Stephanie Barnes is an HR, talent acquisition, operations and diversity professional with 20 years of success. She is currently the COO/Chief Diversity Officer and Co-founder of VSourced and has been a diversity advocate for her entire career. She also offers diversity, equity and inclusion consulting.
