But just 12% have achieved an inclusive culture
Organizations with inclusive cultures outperform their other peers, according to a two-year study by research and advisory firm Bersin by Deloitte. Such firms are six times more likely to be innovative, six times more likely to anticipate change and respond effectively, and twice as likely to meet or exceed financial targets.
Research also showed that 71% of organisations aspire to have an inclusive culture, but just 12% have achieved this objective. Results were based on a survey of 245 global organizations and more than 70 interviews of the firm’s clients.
"Our research demonstrates that inclusive talent practices drive measurable and predictable business outcomes," said Stacia Sherman Garr, vice president, talent and workforce research leader, Bersin by Deloitte, Deloitte Consulting LLP.
"After two years of study, we conclude that these business outcomes are possible for all companies – but only with a change in focus. The research shows that CEOs and business leaders should own the strategy, and the entire organization should embed and use inclusive talent practices,” she added.
In organisations with inclusive cultures, people tend to feel that they can be themselves, share problems, make mistakes, innovate, and drive change, said the study.
The research suggested that organisations talk about diversity and inclusion as a critical component of the organization’s business strategy through both formal communications and reporting relationships.
"Organizations can also build an awareness of bias into critical talent activities, to remind all employees of the importance of managing bias at moments that will have long-term impacts on the talent pipeline," said Garr. "Critically, leaders should be held accountable for improving diversity and inclusion outcomes just as they are accountable for other business metrics."