9 Benefits of DEI (Part I)

Hello Doctor E. Here. Hope you are doing well. This will be the first of a two part series that I am titling. The nine benefits of Dei why do I think Dei diversity, equity and inclusion are important? Well, there are obvious reasons in terms of increasing revenue, enhancing your customer base, but then there are also what I like to refer to as kind of the nuts and bolts or the micro level reasons why Dei is important, or the benefits of Dei. So I'm going to highlight some of those in these next two videos, and please feel free to do some more thinking about them or maybe even sending me some questions if you have, about specific ones that I highlight.

I'm sure there are more than nine, but these are the ones that I think are pretty significant and important. The first is Dei allows you to reach a more extensive and inclusive talent pool. So if you're hiring, if you're recruiting 70% of job seekers nowadays, consider Dei a very relevant factor when evaluating prospective employers. And so when you think about Dei in that way, if your organization is more diverse, more inclusive, has a more equitable environment, chances are it's better positioned to attract and retain premium and great talent.

The second one is diverse. Workplace teams are more likely to perform better. Why is that? Well, I think because dissent is actually a way to become productive. And not dissent in terms of conflict, but dissent in terms of varied perspectives, varied experiences, varied backgrounds that can come to the table and share in a more reflective, more engaged kind of way. A recent study showed that 75% of companies that have frontline decision making teams that reflect diverse and inclusive culture and cultural experiences far exceed and far outperform homogenous teams.

And so think about that, particularly in leadership, as you start to recruit, as you start to develop, as you start to think about who and where to place really, really top talent. And how does that look? The third would be inclusivity fosters a sense of belonging. If you've heard this word a lot lately, it's because it is becoming more and more and more relevant. Organizations, institutions, companies need to think about how they make their staff, their employees, feel needed and feel like they belong within those environments and within those structures.

If you cannot connect a sense of belonging with and to employee morale, chances are you are going to lose the talent that you have and you're not going to be able to attract the talent that you want. So a sense of belonging is very important when it comes to understanding why DEI is beneficial. And then the fourth and final one for today is retention and reducing turnover. If employees feel and see that they are connected, whether it's to colleagues, whether it's to leadership. Chances are the turnover will be lower and the retention will be higher because they see themselves and they can visualize themselves being in different roles and functioning in different capacities within your organization.

So if you think about those first four reaching a more extensive and inclusive talent pool, the fact that diverse teams far outperform and far out seed homogenous teams, how sense of belonging or fostering a sense of belonging is important, and higher retention and lower turnover rates, you will see obviously where and how DEi is beneficial. So I'll see you on the next video where I'll highlight the final five and we will close this video out. Thanks so much and I'll see you soon.