In today’s dynamic and interconnected business landscape, the principles of equity, diversity, and inclusion (EDI) have taken center stage. Organizations are recognizing the profound impact that fostering diverse and inclusive workplaces can have on their employees, productivity, and the broader community.
To explore the concept of EDI and its importance to businesses, we delve into 12 remarkable companies that are championing these values as well as setting a high standard for EDI initiatives in their respective industries. Could one of them be your next employer?
What is equity, diversity, and inclusion?
These are three values that many organizations strive to embody to promote the fair treatment and full participation of people.
Equity means recognizing that we do not all start in the same place and must acknowledge this to make adjustments to fix these imbalances. Although similar to equality, and often used interchangeably, equality means providing the same to all which is not always the fairest or most just solution.
Diversity recognizes that we are all different and identifies key features that make us different. This can include, but is not limited to: race, ethnicity, gender, age, religion, disability, mental health, gender identity, and sexual orientation.
Inclusion is the recognition, appreciation, and use of the talents and skills of employees of all backgrounds. It is creating an environment where everyone feels included.
Why are equity, diversity, and inclusion so important to businesses?
By creating a diverse workplace where everyone feels safe, organizations can widen their talent pool, improve employee retention, and nurture a creative and innovative environment.
The numbers prove that this is the case. 70% of jobseekers consider the commitment of a company to diversity, equity, and inclusion as a key factor when evaluating a new employer. What’s more, gender-diverse companies are 21% more likely to outperform industry peers, and companies with an ethnically diverse executive team are 33% more likely to outperform peers in terms of profitability.
When done authentically, employees are more likely to stay longer in their roles, and over a third of workers said they would leave their roles to join a more inclusive team.
As well as benefiting the employer, employees will also gain access to more diverse perspectives, enhancing their understanding of their role and their wider societal impact.
Twelve workplaces that are excelling in their EDI efforts
JLL
Industry: Professional services
JLL is regularly recognized for its efforts when it comes to diversity and inclusion. For three years straight they were named by Forbes as one of America’s Best Employers for Diversity.
The company has a variety of employee-led groups that connect people across the organization. More than 7,500 colleagues across 200 locations are part of their Business Resource Groups which empower people of every race, gender, disability, and age.
They also host company-wide summits, including their annual Supplier Diversity Executive Summit which supports and educates senior leaders, clients, and suppliers to ensure diverse supplier programs.
Eli Lilly
Industry: Pharmaceuticals
In 2015, pharmaceutical giant Eli Lilly realized that their diversity initiatives weren’t having the impact they anticipated. Data showed that at their current rate of progress, it would take 70 years for equality to hit the boardroom.
As an organization, they realized that something had to change. They commissioned professional actors to portray real employee experiences, devised innovation labs for managers and employees so that they could work to create actionable solutions, and invested in a sponsorship program for women at the director level.
The results speak for themselves. Female representation in the C-Suite has grown from 29% to 40% and female senior directors have grown from 34% to 43%. Not bad in just eight years!
Marriott International
Industry: Hospitality
Courtyard Muncie in Indianapolis opened in 2015, a state-of-the-art hotel in Muncie that employed 110 people from the local area. What makes this hotel extra special is that it partners with the Erskine Greene Center, supporting its disabled students with on-the-job training. It’s an opportunity for disabled people to explore careers in hospitality and learn from the very best and is the first hotel of its kind here in the US.
View this post on Instagram
Aside from the fantastic initiative at Courtyard Muncie, Marriott has long been known as an exceptional employer, ensuring that barriers to career progression are removed for all its employees.
Slack
Industry: Technology
Technology companies may not be known for their efforts when it comes to equity, diversity, and inclusion, but Slack has always made sure to stay ahead of its competitors.
The company has several programs and initiatives including “Rising Tides”, a six-month program for a diverse group of high performers who have lacked access to support in the past. This includes career development opportunities, coaching, and one-to-one sponsorship from a member of Slack’s executive team.
Starbucks
Industry: Food and drink
In 2018, a Starbucks employee called the police on two black entrepreneurs, Donte Robinson and Rashon Nelson, for not ordering anything while waiting for a business meeting to start. Rather than hushing this incident up, the coffee shop chain issued a public apology and within a month the chain had closed all 8,000 US stores for four hours to provide all 175,000 store employees with racial bias training.
This was a wake-up call for Starbucks which has since created a whole range of training for their team looking at empathy, cultural perspectives, and building diverse teams.
At a corporate level, they have also set an ambitious target to double the number of employees who identify as Black, indigenous, or people of color in its corporate wing by 2025.
Johnson & Johnson
Industry: Pharmaceuticals and consumer goods
Johnson & Johnson’s Chief Diversity, Equity, and Inclusion Officer reports directly to the CEO and Chairman, a clear indication that diversity initiatives are being heard at the very top level.
By 2025, the company aims to have 50% female representation at a management level, and in the US there is a goal for 35% of management positions to be filled by black and ethnic minority groups.
In their most recent DEI Impact review the company celebrated a 4% increase in minority representation in just two years, as well as a variety of awards.
Mastercard
Industry: Finance
Mastercard not only encourages equity, diversity, and inclusion internally, but it also does a lot of work for its customers.
In 2022, they announced that they would be investing $500 million in black communities through their In Solidarity commitment, which connects black communities to the products, services, and technologies they need to close the racial wealth gap.
They have also created the True Name initiative to ensure that transgender people can put their true name on their credit, debit, and prepaid cards.
Internally, 30% of their employees are members of a business resource group that provides year-round opportunities for colleagues to connect, learn, and network. And their initiatives are working. In 2021, the company announced that globally, women earn $1.00 for every $1.00 earned by men, and in the US employees who identify as nonwhite earned $1.00 for every $1.00 earned by white employees.
Accenture
Industry: Management consulting
Accenture is another firm that recently announced dollar-for-dollar pay equity, ensuring equal pay for equal work. This covers gender globally and race in the US, UK, and South Africa which is where they can currently gather this data.
Global Pride at Accenture has a community of over 90 employee networks and 119,000 allies in all of the companies in which they operate. They offer 100% of their people access to medical care and have ensured that trans-inclusive health care is available to nearly everyone.
To support their disabled teammates, a team within their global IT team is carrying out a program to ensure that all of Accenture’s people’s interactions with software, devices, and services are compliant with globally defined accessibility standards. In just three years, the company trained approximately 1,000 developers in accessibility and all new video and broadcast content is now captioned.
Sodexo
Industry: Food services and facilities management
Sodexo has five main strands to its diversity efforts: gender, race and ethnicity, LGBT+, disability, and age.
They’re a member of The Valuable 500, an international collective of companies that unlocks the value of employing disabled people. They provide training for all of their employees through e-learning modules and through their mental health and well-being portal.
The food services company also does outreach in the local community, including training and supporting disabled high school children, many of these programs leading to full-time employment.
Kaiser Permanente
Industry: Healthcare
As a company, it strives to service the patients that it serves. This means that 69% of Kaiser Permanente’s employees are members of racial, ethnic, and cultural minorities and 74% are women.
This is nothing new for a company that has been a leader in equity, diversity, and inclusion for nearly a century. During World War II they established racially integrated hospitals, fighting against segregation of patients, and employed women in key roles.
Intel
Industry: Technology
Intel believes that diversity and inclusion are the keys to innovation. Despite only setting their “Raise the Bar” target in 2020, with a view of achieving it within a decade, by 2022 the company had spent $2.2 billion globally with diverse-owned suppliers.
The company admits it isn’t where it wants to be in other areas, so shares up-to-date pay data and data around roles and seniority based on gender, race, and ethnicity to hold itself accountable. With over 200 training sessions focused on equity, diversity, and inclusion taking place each year the company is ensuring they have the knowledge and understanding to succeed.
Progressive
Industry: Insurance
This company lives up to its name. Each year the company comes together for a weeklong event focused on diversity, equity, and inclusion that includes webinars, podcasts, group activities, and panel discussions.
These conversations continue year-round with company-wide “Courageous Conversations” and “Dare to Disagree” programs where teams can discuss biases, and stereotypes, and develop inclusive behavior. These events and opportunities create an open environment where everyone can bring their true selves to the workplace.
Final takeways
The twelve companies showcased in this article serve as shining examples of the transformative power of equity, diversity, and inclusion initiatives. Their unwavering commitment to creating diverse and inclusive work environments has not only improved employee retention but has also unleashed a wave of innovation and progress.
As the business world continues to evolve, it’s clear that organizations prioritizing EDI are not only reaping the benefits of a wider talent pool but are also contributing to a more equitable and inclusive society.
Read more: 10 female bosses you’d love to work for