While there are many examples of equity that have surfaced, my favourite that I have come across are the ones elucidated from the studies of BCG and WHO which have put it very lucidly and which I am going to quote here.
A BCG study cites that companies with more diverse management teams are likely to bring in 19% higher revenues owing to greater innovation. But one cannot unlock these benefits unless every employee group has the opportunity to join management teams in the first place and that’s exactly what workplace equity tries to address.
The other study from WHO outlines that women comprise 70% of the global healthcare workforce, but there are very few women making decisions and leading the work. So, while the representation of women may be equal, their empowerment in terms of reaching leadership ranks maybe missing.
So, when we talk of embracing equity in the workplace, it is important to address 3 fundamental questions – how can organizations begin to assess the extent to which equity has been embedded in facets that shape employees’ everyday experiences, what factors are concomitant to equity at workplace and are there interconnections between equity at workplace and business outcomes.
Equity definitely has to take centerstage and companies that endeavor for workplace equality have to factor in the need for equity or in other words, envision and construct a level playing field.
A conscious effort has to be made that everyone in the company has access to the support, resources, treatment, and opportunities they need to succeed in the workplace. Equity unlocks those doors so that more people can sit at the table and engineer decisions and can approach business a lot more holistically and comprehensively.
What comes to my mind at this point in time is fabricating a simple framework that will ensure workplace equity as below:
Define it and vocalize it loud and clear: Have a written statement and create an understanding of equity within the organization and then go ahead and live by it.
Look within to benchmark: It is imperative to look within and understand where an organization stands in terms of equity metrics. This can be done by collecting relevant data, company demographics, and leadership say, analysing it, and then setting benchmarks and metrics for the goals to be achieved.
Start a conversation around equity: Talk to leadership and then involve key critical people to lead and cascade the conversation. A representative committee of employees from across the organization needs to be formed to evaluate existing and present-day practices and needs. And once all of this data is collected, the focus needs to shift to areas such as recruitment, training, promotion, compensation, attrition, engagement, etc. where the intent should be to craft and implement short- and long-term activities for incremental improvement of workplace equity.
Tailor the initiatives:
- Hiring and Onboarding: It is crucial to consider the incorporation of equity practices in hiring to ensure that we bring out the best in everyone and cast a wider net when it comes to attracting talent to the organization. A diverse pool of talent is essential to bring in different viewpoints, perspectives, and experiences which will lead to a competitive advantage. Job descriptions and recruitment ads need to be audited and reviewed to enhance and make them more accessible and widely relevant. When it comes to onboarding, it is insightful to ensure that while everyone is receiving the same information, the content might also be tailored to account for specific needs that employees from different backgrounds may need.
- Benefits: One very decisive and far-reaching component to establish equity in the workplace is to conduct a thorough and comprehensive study of wage gaps if any because it is not possible to truly even the playing field otherwise. Equitable benefits such as leave, insurance, and other aspects should be remodeled to ensure workplace equity.
- Career Growth: Measures need to be taken towards career growth and development to ensure that a diverse team is responsible for the company’s strategic direction thus making it more agile and resilient. The same developmental plan cannot apply to all employees, rather a segmented approach would work to establish a strong focus on equity, or else several talented individuals would fail to reach their full potential if they are part of the not-so-adequately represented groups.
- Equitable access: For equity to be sustainable, it is of paramount importance that employees should not only have access to resources and opportunities, but also physical spaces and other materials. Things like workspace closed captions in videos, accessibility for differently-abled, ramps, etc. should be looked into for establishing an equitable workplace. It is important that organizations identify and filter the specific needs and requirements by demographic traits and then address the disconsonant and differing needs of each group by bridging the gap between minority and adequately represented groups.
Show accountability: As organizations tread towards achieving this goal, it is crucial to communicate targets and share progress against each target along with improvement strategies.
As Harvard behavioural economist Iris Bohnet mentions, “there is no design-free world.” Similarly, to achieve equity in the workplace, initiatives need to be designed, constructed, and lived by. Every employee has a unique set of needs, preferences, and circumstances that impact their experience in the workplace.
So let us bring in equity along with Diversity, Inclusion and Belongingness to constructively tailor employee experience paradigm in the workplace.
