How to Improve Diversity in Leadership
If you follow Aniday blogs, you're familiar with our frequent discussions on diversity, equity, and inclusion (DE&I) – covering the significance of inclusivity, the importance of diversity, and methods for improvement. It's encouraging that the world is paying attention. Companies, driven by either a concern for revenue growth or a moral compass (often both), are actively seeking ways to enhance DE&I.
However, a common challenge many face is ensuring diversity not only across various aspects but particularly within leadership roles. In this blog post, Aniday will explore how to improve diversity in leadership.
What is Diversity in Leadership?
Diversity in leadership refers to being inclusive to everyone no matter their background, experience, race, gender, socioeconomic backgrounds, etc,.
A team with diverse leaders encompasses a range of different perspectives, promote inclusivity, and is associated with better decision-mkaing and innovation. This ensures that leadership roles are not dominated by a homogenous group but are representative of a diverse group of people within the organization and society.
Why Company Leadership is Often Homogenous
The lack of diversity in leadership, especially the dominance of straight white men, stems from deep-rooted historical inequalities, shaped by social structures since slavery.
Slavery's legacy creates an ongoing unequal competitive environment. Despite seeming historical, its effects persist, as seen in scenarios where generational advantages contribute to a "stale, male, pale" workforce, even with attempts to address diversity as companies expand.
Significance of Diversity in Leadership
Diversifying leadership is more than just appointing a Director of Diversity as a checkbox solution. While such roles are crucial, there's immense value in emphasizing diversity across leadership positions, irrespective of whether their responsibilities directly pertain to enhancing Diversity, Equity, and Inclusion (DE&I).
1. Fosters Innovation and Business Success
A correlation between diverse leadership teams and improved financial performance is significant. Successful businesses require teams that comprehensively grasp the intricacies of their diverse customer base.
Diversity among decision-makers is pivotal in achieving this understanding. Otherwise, organizations risk struggling to meet customer needs and connect with their audiences, potentially leading to avoidable advertising mistakes and backlash.
Having diversity in leadership also showcases the company’s commitment to inclusivity. Take software outsoucing company as an example, having a diverse and inclusive workplace allows both the company and their clients to embrace the difference in perspectives, which reduces miscommunication, drive positive business outcomes and ultimately result in a sucessful partnership between both parties.
2. Enhances Employee Engagement and Retention
Representation is a critical factor. Individuals from underrepresented backgrounds need to see themselves in positions of power to envision upward mobility within the organization. Lack of diverse representation may discourage these individuals, prompting them to seek opportunities in companies where growth appears more attainable.
Moreover, when organizational leaders represent a diverse spectrum, they assume a vital mentoring role for a broader group of professionals. Their ability to form meaningful connections, empathize, relate, and motivate becomes more effective, contributing to improved employee engagement and retention.
Studying Real Organizations Paving the Way for Diversity in Leadership
The evident lack of diversity in leadership often traces back to historical barriers that limited opportunities to specific groups. Companies now bear the responsibility to actively dismantle these barriers. To inspire change, we've compiled a list of organizations exemplifying positive steps towards a more diverse leadership landscape.
1. Slack's Innovative Sponsorship Program: Rising Tides
Slack's commitment to diversity is evident in its Rising Tides program, a six-month initiative designed for a talented and diverse cohort of high-performing and emerging leaders at Slack.
The program provides participants with career development training, executive coaching, and one-on-one sponsorship with a member of Slack's executive team. This initiative focuses on cultivating a supportive community of peers.
2. Citi's Transparent Career Paths and Promotions
Citi places a high priority on career development, particularly for underrepresented groups. Their Global Consumer Operations program assists high-performing employees in acquiring the skills needed for transitioning into management and supervisory roles. The results speak for themselves, with an impressive 80 percent of program participants either promoted or on a clear promotion path.
3. Lyft's Strategic Diversity Sourcing Approach
To achieve diversity in leadership, mastering diversity recruitment is crucial. Lyft has refined its sourcing strategy, using tools like Greenhouse to track and measure their efforts. They actively engage in community events, source through non-traditional channels, and creatively utilize job descriptions and target communities to precisely reach the individuals they want to connect with.
4. EY's Comprehensive Investment in Talent Development
EY takes a broad approach to creating diversity in leadership, emphasizing the value of high-performing teams that leverage diverse opinions and perspectives. Programs like Discover EY and EY Launch are dedicated to empowering ethnically diverse college freshmen, sophomores, and transfer students. These initiatives not only build awareness for accounting and professional services as professions but also open avenues for participants to interview for career opportunities at EY.
5. Biden's Cabinet: A Shift in the Status Quo
While not aiming to give political groups accolades, it's noteworthy that President-elect Joe Biden's commitment to forming "the most diverse Cabinet in history" is making strides. The historical lack of diversity, especially in terms of gender and race, is being addressed with several women appointed to key positions. However, criticisms remain regarding representation gaps for Black, LatinX, Native American, LGBTQ+, Asian American, and Pacific Islander communities.
Despite room for improvement, Biden's selections signify a departure from historical norms, showcasing a more representative snapshot of America. These changes, made prominently on the global stage, mark a significant and long-overdue step towards diverse representation in vital positions of power.
For the blog post, Aniday has explored how to improve diversity in leadership. Organizations prioritizing diversity and inclusion in leadership excel in the competitive business landscape. Implementing these strategies unleashes the full potential of diverse leadership, fostering innovation, and creating a workplace that embraces the global workforce's richness.
