Metrics That Matter: Know How Diversity, Equity, Inclusion Help CEOs Make Their Firm More productive and profitable from Marching Sheep

What is that one KRA that almost every CEO has today? What is it that every investor, shareholder, consumer, and even potential talent is evaluating an organisation on? ESG or Environmental, Social, and Governance principles. Criteria that encompass a wide range of factors that measure a company’s societal impact and sustainability efforts. These include not only carbon footprint, and the impact that organisational processes and products leave on the environment, but also social factors such as labour practices, community engagement, and human rights; and governance issues such as board diversity, executive compensation, gender pay gap, representation, equity and transparency.On the other hand, DEI initiatives focus on creating a workplace culture that is inclusive, equitable, and diverse. This involves fostering an environment where employees from all backgrounds feel valued, respected, and empowered to contribute their unique perspectives and talents. DEI encompasses aspects like gender equality, racial and ethnic diversity, LGBTQ+ inclusivity, accessibility, and socioeconomic representation.

Needless to say, ESG and DEI are becoming increasingly intertwined in the modern corporate landscape. It is critical that there is a clear strategy and executable plans, with strong monitoring and governance to make things happen

“It is important for organisations to craft a robust and sustainable DEI strategy, with robust monitoring mechanisms that truly drive metrics that matter. Having inclusion of women, Persons with disabilities, LGBTQIA community, people from different races and ethnicities and multiple generations help companies get a robust DEI strategy. As an organisation, the focus should be on driving belonging and inclusion systemically, and diversity or representation will happen,” said Sonica Aron, the founder and CEO of Marching Sheep, a leading HR consulting firm.

Aron said that it’s important for firms to develop long-term capabilities, Inclusion strategies and initiatives, and leadership strategies.

Diversity, Equity, and Inclusion (DEI) are crucial for a company’s success as they foster innovation, creativity, and productivity by bringing together diverse perspectives, backgrounds, and experiences. DEI initiatives create a more equitable and inclusive workplace where all employees feel valued, respected, and empowered to contribute their best. By embracing diversity and ensuring equal opportunities for all, companies can attract top talent, enhance employee satisfaction and retention, improve decision-making, and better reflect the diverse communities they serve, ultimately driving long-term and sustainable organizational success.