In a resounding affirmation of the growing significance of Diversity, Equity, and Inclusion (DEI) in the corporate landscape, a recent survey commissioned by Monica Motivates, LLC has shown that 98 percent of HR leaders in the UK and US consider DEI to be of “very important” or “somewhat important” value to overall business strategy.
Conducted by OnePoll, the survey shed light on the continued relevance of DEI in organizations across the UK and US. The findings demonstrated that 79 percent of HR leaders regarded DEI as “very important,” while an additional 19 percent deemed it “somewhat important.”
One of the standout revelations from the survey was the prominence of DEI roles at the C-suite level. A staggering 79 percent of the 400 HR leaders who participated in the survey indicated the presence of a C-suite position specifically dedicated to overseeing and driving DEI initiatives.
Amid an environment marked by a backlash against DEI initiatives fueled by economic pressures, the study’s outcomes underscored the significance of maintaining a commitment to DEI efforts.
Despite the challenges, research consistently highlights the correlation between higher gender diversity and enhanced profitability and productivity, along with the proven success of ethnically and culturally diverse companies.
The role of AI…
The survey findings also brought attention to the positive outlook of HR professionals towards leveraging artificial intelligence (AI) to enhance their work. Only 7 percent of respondents viewed AI as a potential threat, while the majority recognized its potential to aid in establishing diverse hiring processes, providing accessible DEI training for employees, and developing comprehensive DEI strategies with both short-term and long-term goals.
Monica McCoy, the visionary CEO and Founder of Monica Motivates, emphasized the survey’s profound implications. McCoy noted, “HR professionals know better than anyone that DEI has real commercial, creative, and moral implications. So it’s really encouraging to see that the vast majority of those we surveyed consider it to be a critical piece of their overall business strategy.”
Amidst global uncertainty and economic challenges, this survey serves as a timely reminder that those deeply involved in the implementation and oversight of DEI initiatives recognize its inherent value. McCoy further urged HR professionals to effectively communicate this value to other decision-makers within their organizations, reinforcing the compelling business case for diversity and inclusion.
What else did the report highlight?
Additional insights from the survey indicated a notable shift in employees’ willingness to voice concerns related to DEI issues, with 86 percent of respondents believing that employees are now more likely to express their grievances compared to two years ago.
Furthermore, the survey disclosed that more than half (56%) of respondents have strategies in place to promote supplier diversity, and an additional 36 percent are in the process of developing such plans. Monica Motivates, known for its partnerships with industry giants like Microsoft, Santander, and BBVA, has been instrumental in facilitating connections between large corporations and underrepresented small business owners to foster mutually beneficial relationships.
Monica Motivates is gearing up for its sixth annual Global Supplier Diversity Conference (GSDC), scheduled for September 21, 2023. The conference, held both in Atlanta and London with virtual streaming worldwide, aims to unite diverse suppliers and corporate entities for collaborative growth.
As the business landscape evolves, this survey offers a clear message: Diversity, Equity, and Inclusion are no longer optional components of a successful business strategy – they are indispensable drivers of growth, innovation, and sustainable success.
Amelia Brand is the Editor for HRreview, and host of the HR in Review podcast series. With a Master’s degree in Legal and Political Theory, her particular interests within HR include employment law, DE&I, and wellbeing within the workplace. Prior to working with HRreview, Amelia was Sub-Editor of a magazine, and Editor of the Environmental Justice Project at the University College London, writing and overseeing articles into UCL’s weekly newsletter. Her previous academic work has focused on philosophy, politics and law, with a special focus on how artificial intelligence will feature in the future.