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Introduction

The corporate world is witnessing a substantial shift. The tempo of change can be bewildering and affect everything from the way we interact to how we shape the organisational culture to how we carry out our routine work. This is further accelerated by the rapid growth of technology and the never-ending effects of the pandemic. It is apparent why organisations need to innovate their diversity, equity, and inclusion strategies on a regular basis.

According to the International Labour Organisation, a 59% rise in creativity has been observed in organisations with more open workplace practices and customs.

What does Equity, Diversity And Inclusion mean in a true sense?

Regardless of the growing fervour about DEI, there is still a glaring vagueness about each of these concepts. One could hear a combination of these phrases applied interchangeably in some contexts. It could be more useful to focus on a particular component of this idea for the sake of finding positive changes and initiating efforts rather than using DEI as a generic catch-all term, as in many cases. But then, what is diversity? What do inclusiveness and equity represent in reality? And also, what differentiates each concept from the others?

Well, let us first understand the basic definition of diversity. Diversity refers to the presence of people from a myriad variety of backgrounds and genders in a system. If each person is different, then it is quite obvious that a one size fits all approach to policies and culture is a No-No. Equity, therefore, defines and acknowledges this requirement from an individualistic perspective. But how do we know the requirements of a type of person who is completely different from us? Inclusion plays the important part here. It refers to valuing the voices of people belonging to a diverse culture and genders which eventually helps to suffice their needs as well.

Where is Diversity Equity And Inclusion In The Workplace going?

The necessity of equity has come to light as a consequence of current social activities, ethnic strife, and the turtle pace of development. It won't be enough to merely have a diversified workforce or an open mind, as different employees want identical opportunities to grow within the company. Corporate leaders are focusing on how important it is to create an equitable atmosphere.

This will increase the emphasis on diversity, equality, and inclusion (DEI) at the leadership level, which will also cascade down to cause a meaningful change in businesses as well as the corporate culture.
A more inclusive organisation is seen to perform way better than most of its less inclusive competitors. In fact, the current labour market is seeing an increase in expectations from their employers.

And all of this will undoubtedly have an impact on the future picture of DEI in the workplace in the very near future. In fact, the change is expected to have its earliest reflection as early as 2023.

Conclusion

In 2023, organisations that put the needs of their employees first will determine whether their Diversity Equity Inclusion strategies have an impact on the feeling of inclusiveness and connection among their employees.
Furthermore, despite efforts to recruit and retain a more diverse workforce, hiring a more diverse workforce at the executive level will take precedence. Finally, front-line managers who implement programs to eradicate discriminatory practices from the corporate culture will be the priority of DEI implementation.