Diversity, Equity & Inclusion; the right thing to do for people and business

It could be argued, however, that this was always the case and that any organisation which constantly fishes for talent in the same pool will inevitably fall victim to drought and stagnation. Searching for talent with different backgrounds, experiences, perspectives, and identities, allows businesses to tap into a wealth of unique ideas and insights. This diversity of thought can inspire innovation, allow creative problem solving and drive strategic decision making.

Walking the walk, not talking the talk

28% of over 800 business leaders surveyed internationally for the Mazars C-Suite Barometer 2023 identified difficulty recruiting a skilled workforce as a potential barrier to corporate growth. For the attraction and retention of good people, work culture is a hugely significant factor.

In the current environment of skills shortages, top talent can choose its own home, and those seeking a new role understandably gravitate towards organisations whose values match their own. Evidence of diverse and fair workplaces therefore tends to be viewed very positively, as an indicator of good corporate values.    

More than half the business leaders we surveyed already have a dedicated programme on gender equality (significantly up a full twelve points on the year before). A third of those surveyed also ranked equality and the progression of female talent in their top three business priorities for this year.

Yet a recent report by the United Nations Development Programme* illustrates that, for all new legislation and goodwill, not much has actually changed in the last decade.

The report said, “Despite decades of progress closing the equality gap between men and women, close to 90 percent of men and women hold some sort of bias against women, providing new clues to the invisible barriers women face in achieving equality, and a potential path forward to shattering the glass ceiling.”

Policies and legislation are not enough.

Legislation promoting equity in the workplace has been in place for some time, yet according to the UN report, “While men and women vote at similar rates, only 24 percent of parliamentary seats worldwide are held by women and there are only 10 female heads of government out of a possible 193. Women in the labour market are paid less than men and are much less likely to be in senior positions: less than 6 percent of CEOs in S&P 500 companies are women.  And while women work more hours than men, this work is more likely to be unpaid care work”. 

And of course, gender is only one factor in D,E&I.

According to Sonal Dhulashia, Head of Inclusion, Diversity and Wellbeing at Mazars,

“Many factors, including a lack of existing role models and established staff networks within companies act as barriers to attracting talent from diverse backgrounds and may put candidates off applying.

“Those organisations capable of attracting the widest possible pool of talent are the ones who actively work at creating an environment where individuals feel psychologically safe to be themselves and where they see the agenda genuinely embedded in the organisation through actions.”

Might AI provide a solution?

Some argue that AI-based recruitment programmes could offer a way ahead, since surely computers are not subject to human, unconscious bias?

Unfortunately, AI typically uses existing resources as a knowledge fund and it is credible that unintentional bias could still be imported.

That’s a whole, different discussion  - but to find out why business leaders worldwide are taking D,E&I more seriously than ever, visit the Mazars C-Suite Barometer 2023.

*UNDP Gender Social Norms Index, March 2020