The importance of equality, diversity, and inclusion (EDI) in organizations’ hiring practices is rapidly becoming a priority for many organizations, and rightfully so. In this blog, we will provide a few reasons as to why EDI should be at the forefront of an organization’s strategic planning. Before diving into the importance of EDI, we must first define what EDI is by looking at its three components which although may be used interchangeably, also have distinct differences.
What is Equality? It is the fair treatment of individuals regardless of various characteristics, including but not limited to their gender, age, inability, religious beliefs, race and sexual orientation. Equality is about providing individuals with the same access to opportunities and resources, regardless of their differences.
What is Diversity? It is about recognizing and accepting these differences and respecting those who do not share the same characteristics, values, ideas and opinions as us.
What is Inclusion? Inclusion is about fostering an environment where all individuals feel welcomed, appreciated and their contributions and perspectives are valued.
There are ample reasons why EDI is important to the success of an organization and therefore should be prioritized. Here are 5 reasons that demonstrate the positive impact EDI can have on an organization:
- Belonging: Your staff will be happier and therefore more committed to your organization;
- Innovation: A diverse workforce will bring new ideas to the organization, thereby leading to improved decision making and heightened innovation resulting from the inclusion of people with different backgrounds and perspectives;
- Collaboration: An inclusive workplace culture with equal opportunities for all can be highly coveted by business partners and customers who value EDI;
- Recruitment: Your organization will attract talent from more diverse groups of people, which will increase your competitive advantage over others; and
- Productivity: Organizations that embrace EDI benefit from higher employee satisfaction level, which in turn creates greater employee engagement and increased productivity.
To summarize, creating an environment that is diverse and inclusive, where all individuals are treated equally, is a strong basis for attracting talented employees who will help drive your organization forward.
At Welch, we believe the presence of EDI in the workplace is essential to our firm’s long-term success. We have been teaming up with like-minded professional service firms and organizations in the Ottawa community to support each other to improve our own EDI practices. We will share key takeaways from these meetings in future blogs. Stay tuned!
If interested in joining our EDI Community Alliance, please send an email to [email protected].
Welch is proud to welcome the following organizations to our EDI Community Alliance:
Co-Authors: Welch LLP EDI Community Alliance Committee
Krissa Legaspi, Manager
Caroline Proulx, Onboarding Manager