MAY - 2023HR TECH OUTLOOK19It's no secret that the world of business is changing. No matter what industry you're in, your business has been affected by the turbulence of the past year. The pandemic has upended traditional business models and forced leaders to adapt on the fly. In times like these, strong leadership is more important than ever. But what does that mean, exactly? How can business leaders set their companies up for success during these uncertain times? And with this change comes a renewed focus on diversity, equity, and inclusion (DEI). But what does DEI mean? And why is it so important? DEI is about creating an environment where everyone can succeed, regardless of background or identity. It's about leveling the playing field so that everyone has an equal chance to succeed. This article will explore what DEI means and why it's important for businesses. We will then look at ways to foster a more diverse and inclusive environment in your workplace.What is diversity, equity, and inclusion?Diversity, equity, and inclusion are often used interchangeably, but each has distinct meanings. Diversity is the quality or state of being different or varied. Equity is the quality or state of being just, impartial and fair. Inclusion is the quality or state of being included or involving all people.So what does that mean concerning organizations and businesses? Diversity encompasses how people differ, including but not limited to race, ethnicity, gender, age, religion, disability, sexual orientation, and socioeconomic status. Equity ensures that everyone has a fair and just opportunity to participate and be successful. Inclusion goes further by ensuring everyone feels valued, respected, and supported within an organization or business.When organizations and businesses embrace diversity, equity, and inclusion, they create an environment where all employees can thrive. A diverse workforce brings different perspectives and ideas that can lead to more innovative solutions. An equitable workplace gives all employees a level playing field to compete for promotions and opportunities. And an inclusive workplace culture ensures that all employees feel like they belong and are valued for their contributions.Organizations and businesses that embrace diversity, equity, and inclusion are not only more successful ­ they're also more humane!More than just benefits In recent years, organizations have continuously emphasized diversity, equity, and inclusion (DEI). Firms do this in response to the changing demographics of the workforce and the customer base, as well as the increasing awareness of the importance of DEI and the role businesses play in impacting an inclusive society.CXOInsightsBala Sathyanarayanan, NACD.DC, Executive Vice President & Chief Human Resources Officer, Greif, Inc.ByDIVERSITY, EQUITY, AND INCLUSION
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