EDI Initiatives To Implement In 2024

Written by Richard O'Connor
Last updated April 22, 2024

Companies with diverse executive teams are 35% more likely to outperform their peers on profitability. It’s clear from these figures that a diverse and inclusive workforce is no longer just a social responsibility. For employers, EDI initiatives in the workplace offer a strategic advantage.

While EDI (Equality, Diversity & Inclusion) initiatives have faced some challenges recently, the need for progress remains paramount. And the numbers speak for themselves, companies with strong EDI initiatives outperform their peers. It’s as simple as that. 

But what gives these companies the competitive edge? Diversity. Diverse teams bring a wider range of perspectives to the table, creating more space for innovation and leading to better decision-making.

Is diversity enough? No, it’s not. A diverse workforce alone won’t cut it. To have true inclusion, you need to create an environment where everyone feels valued, respected, and empowered to contribute their best work. 

So, let’s delve deeper into what inclusion means for your workplace.

Inclusion Explained

Diversity means nothing if your workforce doesn’t feel like they’re included. Every single employee needs to feel welcome and supported. They need to know that their contribution to the team is valued as much as their colleague’s.

As an employer, it’s your responsibility to implement inclusive practices. These practices must ensure all employees have equal opportunities to succeed and contribute to the company’s goals. This involves removing barriers that might prevent some individuals from thriving, such as unconscious bias in recruitment or a lack of flexible work arrangements.

Bonus reading: How to Move from Diversity to Inclusion

EDI Initiatives for 2024

Here’s where EDI initiatives come in. By implementing these initiatives, you can build a strong foundation for a diverse and inclusive workplace:

1. Recruitment and onboarding

EDI begins from the moment you post a job vacancy. In other words, your job descriptions might be a candidate’s first impression of your company. With this in mind, they should use inclusive language and focus on skills to remove unconscious bias.

Beyond that, your hiring panels must also be diverse to tackle unconscious bias during the interview process. Employers who provide unconscious bias training to their recruiters ensure a fair recruitment process for all candidates. 

Need help with inclusive language in your job adverts? A professional Job Advert inclusivity Screening will test your job advert against our “Inclusive Language Check-List”.

2. Workplace culture and policies

A truly inclusive workplace relies on a culture of fairness and respect. One way to achieve this is through regular pay audits to ensure equal pay for equal work. Employers who show a commitment to closing the gender pay gap (which is still 14.3% less for women) build greater trust with their employees.

Furthermore, developing and enforcing clear policies on anti-discrimination, harassment, and microaggressions sends a strong message that such behaviour will not be tolerated. All of this works towards creating a safe space for everyone to contribute their ideas and perspectives freely.

Employee Resource Groups (ERGs) can also play a vital role in promoting inclusion. These employee-led groups provide a sense of community and support for underrepresented groups within the company. ERGs can also offer valuable insights and perspectives to leadership, something all employers should take full advantage of.

Finally, one thing we’ve learned from the pandemic is that people value flexibility around their work. Offering options such as parental leave, childcare support, and flexible working hours allows employees to strike a healthy work/life balance, leading to greater satisfaction and productivity.

You may also be interested in: Equality, Diversity and Inclusion Policy Template

3. Tracking progress and impact

The key to any successful EDI initiative is to keep track of the data and strive to continuously improve on previous interations. This can be done in a number of ways.

  • Workforce demographics: Regularly collect anonymous data on your workforce demographics to track progress.
  • Employee surveys: Conduct regular employee surveys to gauge how your staff are feeling. This anonymous data will allow you to identify areas for improvement.
  • Clear EDI goals: Set clear EDI goals and hold leadership accountable for achieving them.

As we mentioned above, the link between a diverse and inclusive workforce and strong business performance is undeniable. A 2022 Gartner study found that 75% of companies with diverse leadership teams exceeded their financial goals.

Additional content: Monitoring, Recording and Publishing EDI Figures

Attract Fresh Talent with EDI Initiatives

Building a diverse and inclusive workplace isn’t just good for your bottom line, it’s also essential for attracting top talent. 

A recent Deloitte study revealed that 83% of millennials are actively engaged when they believe the workplace fosters an inclusive work culture. By implementing strong EDI initiatives, you can ensure your company is a magnet for the best and brightest.

Learn more about attracting diverse talent.

Key Takeaways

These EDI initiatives are a starting point for building a truly diverse and inclusive workplace. Remember, solving EDI issues is an ongoing journey, not a destination. Employers need to dedicate themselves to continuous improvement, thus creating a work environment where everyone feels equally valued, respected, and empowered to reach their full potential.

At Aspiring to Include, we advocate for inclusion. That’s why we offer a free employer resource hub packed with DEI guides and insights. 

In addition, we provide a range of employer services, including inclusivity screening and advertising on our inclusive job board.

If you’re passionate about implementing new EDI initiatives in 2024 and want to build a culture of belonging in your business, we can support you.

Get in touch to discuss your EDI goals.

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Last Updated: Wednesday April 10 2024
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