Are you running an inclusive business?
The 21st of May is World Day for Cultural Diversity for Dialogue and Development, the perfect moment to consider your business’s inclusion and diversity practices and perhaps make some changes for the better. Read on and find out how to take action.
What does an inclusive business mean?
Inclusion and diversity go hand-in-hand. Diversity is about representation of the range of human difference. Inclusion is how well the contributions, presence and perspectives of different groups of people are valued. 1
As a small business, it’s important to appreciate, recognise and respect all staff, customers, suppliers and members of your community – regardless of their background, abilities, beliefs, or identity. Creating an environment where everyone feels welcome, supported, and empowered to contribute their unique skills and perspectives is important, not just because it’s good for business (which it most definitely is), but because it’s the right thing to do.
Diversity and inclusion are powerful business tools.
Inclusion and diversity are not just buzzwords, another box to tick or a legal requirement; they are source of creativity, innovation, and strength.
A 2019 analysis found that companies in the top quartile for gender diversity on executive teams were 25 percent more likely to have above-average profitability than companies in the fourth quartile. When it comes to ethnic and cultural diversity, business-case findings were equally compelling: The top-quartile companies outperformed those in the fourth one by 36 percent.2
A thoughtful inclusion and diversity strategy is likely to result in more applicants applying for the posts you need to fill, meaning you could have more top talent to choose from. In a climate where recruitment is more difficult than ever, you can’t afford to miss out. After all, as every business knows, your people are one of the most important drivers of profitability.
Broadening your customer base
By making more people feel that your business adds value to their lives, you can widen your customer base. People from diverse communities are more likely to do business with companies that reflect and respect their identities and needs. For example, if you run a restaurant that offers halal, kosher or vegetarian options you can attract customers from different religious and cultural backgrounds.
Don’t forget to consider your suppliers. Using suppliers from different backgrounds is part of improving your inclusivity.
You can’t afford to ignore this issue
One of the most common mistakes is not to act. For a small business without a sophisticated HR department, it’s easy to feel that you’re too small to make a difference. Or perhaps, the fear of misstep means you might want to play it safe and do nothing. But failing to act, is an action too. So don’t wait. Start by taking a simple step like talking to your staff about inclusion and diversity.
What are some quick fixes you can put in place?
It's easy to talk the talk but you can walk the walk? Yes, absolutely. By taking a few simple steps, you can make your business more welcoming and appealing to everyone. Start by determining whether the products and services you offer really do meet the needs of the community around you.
Consider whether your team reflects the communities you serve. If not, you might need to rethink your hiring policy. Consider actively seeking candidates from diverse backgrounds and abilities and use inclusive language in your job descriptions and interviews. Remember, that flexible working arrangements that accommodate different needs and lifestyles can go a long way to attracting talent from all backgrounds.
Review the language and imagery of your marketing materials and makes sure they are inclusive and avoid stereotypes or content that some might find offensive.
You might consider undertaking unconscious bias testing and training so you and your staff can recognize and challenge your own assumptions or prejudices. (We all have them.) The findings might help you define your next steps.
Most crucially, make inclusion a regular topic of discussion, so it becomes a part of the way you work. Review and recommend changes to your ways of working as a team. And don’t forget to celebrate your successes and recognize progress.
Remember, that building a robustly diverse and inclusive business isn’t just about a few hours of training, a new app or a couple of new hires. It’s an ongoing process that will evolve with your business and involve everyone. The good news is, small businesses have the advantage of agility, so changes to hiring policies and other processes should be quick to implement, making it easier for you to make a positive impact on your business and the wider world.
Sources
1https://pjp-eu.coe.int/en/web/youth-partnership/diversity
2https://www.mckinsey.com/featured-insights/diversity-and-inclusion/diversity-wins-how-inclusion-matters
