27 February 2024
The Importance of ‘Active Allyship’ – Green Park’s Top Takeaways
In uncertain times, businesses tend to focus purely on the financial elements of the balance sheet. But what if bracing for a recession involved doubling down on your core offering and company DNA? You could mitigate risk, strengthen your teams, and build the foundations for more sustainable and inclusive long-term results, all while demonstrating your commitment to Diversity, Equity & Inclusion (DEI).
In the current economic climate, creative solutions and smart workforce and hiring decisions will be key. Boosting inclusion and engagement to leverage existing teams and attract new talent will unlock innovative thinking and build competitive advantage. However, in tomorrow’s sceptical environment any commitment to DEI has to be sincere and constant. It will play an important part in people’s decisions on where they work, whether they stay, and if they choose to engage or ‘quiet quit’.
At Green Park, 35% of our executive and board appointments are ethnic minorities for whom an employer’s purpose and DEI credibility can be major factors in the attraction, engagement, and acceptance of an employment offer. There’s risk with inauthenticity. If you want to recruit, engage and retain the best candidates, then you have to do more than promise to build an inclusive culture.
For business owners who are serious about DEI, there are a few things to bear in mind. Underlying problems – such as disparities around pay or high rates of attrition – will undermine your recruitment efforts. Additionally, be honest about the DEI situation within your organisation. Small achievable steps are far better than large ones that have no likelihood of happening.
Four things business owners should do to embed DEI.
1. Know where you are at now. Create a base line to assess progress.
2. Know what data you need to achieve objectives. Keep focused on your aims. Too much data can become a distraction.
3. Use an independent strategic partner. They will be able to ask difficult questions and constructively challenge, while providing support, structure, and credibility.
4. Measure impact, collect evidence, and build trust. Hold yourself accountable and be transparent.
We know inclusive organisations aren’t created overnight. It takes long-term, unwavering commitment. But once you have embedded inclusion, group think turns into diversity of thought, and culture fit turns into culture add. It’s essential to stand strong, amplify your ambition and ensure people decisions and processes are transparent and equitable.
This article was published in The Telegraph Business Guide 15 February 2023 and can be found here.