Diversity, Equity, and Inclusion

Six Make-You-Think Statistical Points!

by David Pyle
Pyle Creative Studios
May 2021

If the last year has taught us anything, it's that the progress made during the Civil Rights Movement in the 1960s was just the start.  I'm not going to argue the moral issues around the very real need for active steps with Diversity, Equity and Inclusion (DEI) in our community. I believe those should be self-evident. What I AM going to do is argue that there are business realities that demand real attention around DEI.  Here are six statistics that make that case:

Statistic 1 and 1A: The millennial and Gen Z generations are the most diverse in history: only 56% of the 87 million millennials in the country are white, as compared to 72% of the 76 million members of the baby boomer generation. (CNN Money). And the recently completed census projects that the population of non-Hispanic white children is less than half of the total child demographic.  (https://www.census.gov/newsroom/press-releases/2018/cb18-41-population-projections.html)
David:It's clear that underserving and under-representation of people of color (POC) and LGBTQ+ communities not only disenfranchise those communities - it also significantly limits opportunity with our total customer base as well as limits our talent pool for staff and leadership.  The demographic data, above, makes it plain that those limitations will become increasingly problematic with younger age groups.
 
Statistic 2: 67% of job seekers consider workplace diversity an important factor when considering employment opportunities, and more than 50% of current employees want their workplace to do more to increase diversity. (Glassdoor)

Statistic 3: 45% of American workers experienced discrimination and/or harassment in the past year. (Gallup)
David: These two statistics make it plain that DEI is at a boil within the employment and leadership talent pool as well as the general community.

Statistic 4: Higher representation of women in C-suite level positions results in 34% greater returns to shareholders. (Fast Company)
David: This one seems particularly relevant to our industry, given that the large majority of our consumer base is typically women.

Statistic 5: 78% of employees who responded to a Harvard Business Review (HBR) study said they work at organizations that lack diversity in leadership positions. (Harvard Business Review)

Statistic 6: Companies that had higher-than-average gender diversity and employee engagement also had 46% to 58% better financial performance than companies that were below the median on diversity and engagement. (Fast Company)
David:  It's trite and overly obvious to say that these are not easy issues with easy solutions.  That said, when viewed historically, there's real reason to believe that organizations that openly address challenging issues like these set themselves apart as leaders - and reap the benefits that come with that.  They lay a long-term foundation for business success, growing their potential markets, adding to their staff talent pool, and reinforcing their brands as authentically and organically community-minded.