Regulators are increasingly demanding that employers pay close attention to diversity and inclusion (D&I) and workplace culture, with a steady ratcheting up of legislation and regulations that include a requirement for published metrics. These can include detail on the gender pay gap and the ethnicity pay gap, as well as voluntary reporting of the LGBTQ+ pay gap.
This year is witnessing a growing diversity and inclusion trend for companies to set transparent targets, goals, and D&I initiatives. It is helping companies increase the accountability of people in leadership positions, encourage honest conversations between employees and their bosses, and inspire them to share ideas and solutions.
Merging D&I parameters with talent acquisition tools is significantly helping organizations to attract a diverse workforce, reduce unconscious bias in the recruiting process, and facilitate effective candidate selection.
Listening and engagement software is another important technology for effectuating D&I. The technology can measure differences in how a manager or a senior employee communicates with junior employees through workplace communication platforms (such as email, chat, and calendar), providing a detailed analytical report of these conversations through which senior employees can understand if they are communicating inclusively.
Driven by such innovations, the global diversity and inclusion (D&I) market is projected to reach U.S.$17.2 billion by 2027, with a compounded annual growth rate (CAGR) of 12.6 percent over the period 2020-2027.
To put the spotlight on such key developments in the industry, Manage HR illustrates how developing a diversity and inclusion strategy that educates and gives employees a chance to embrace diverse people, for your business is important. The list includes thought leadership articles from Sacha de Klerk, Head of Diversity, Equity and Inclusion, Canada; Celeste Warren, Vice President Global Diversity and Inclusion COE, Merck; Amy Clark, Senior Vice President, People Services, Colliers International.
In this edition of Manage HR, we also bring to you the story of the top D&I service providers. In the list, Innoviant Consulting stands out for offering diversity and inclusion programs designed to provide strategic business benefits along with the social or moral gains of having a diverse workforce.
Through the following pages, we aim to shine a light on the innovative trends and latest developments in the diversity and inclusion services space. We would like to know your thoughts.