3 things that companies get wrong about diversity

3 things that companies get wrong about diversity

Companies spend a lot of money on diversity initiatives, and also on fixing the issues that often arise out of not making diversity and inclusion a priority. According to a 2017 report by the Kapor Center, titled “Tech Leavers Study,” systemic bias and mistreatment costs the tech industry $16 billion a year. Companies channel those funds to introducing diversity initiatives—yet very few have made substantial progress.

At the Fast Company Innovation Festival, three panelists who work in the diversity and inclusion space shared some of the misconceptions that can hinder a company’s progress. If companies want to make serious inroads into improving their numbers (and reaping the proven financial benefits as a result), it’s crucial that they take a look at themselves and make sure that they don’t fall into the following traps.

Misconception: A diversity and inclusion personnel will fix everything

Even if a company hires a diversity and inclusion officer, a company will make very little inroads if those at the top don’t consider it a priority. “How important D&I is to the company depends on how far they are to the CEO. If that person is 8 people down, nobody cares,” argues Bari Williams, Fast Company contributor and VP of Legal, Business, and Policy Affairs at startup advisory firm All Turtles. Bari Williams says that a company will often dedicate money to initiatives and organizations like Code2040, yet they make no efforts to track any sort of metric. Investing in fellowships for under-represented minorities, for example, won’t lead to progress if those participants aren’t getting full-time jobs afterwards, according to Suzanne Kennedy, director, office of the chairman and philanthropy at IAC.

As a trained lawyer, Bari Williams says that a rule is only as good as its enforcement. It’s also important to examine a company’s diversity and inclusion practitioner closely. Are they active in their own communities? If they aren’t, then it’s unlikely that they will be able to engage, let alone issues related to those outside for their own communities.

Misconception: Diversity is a zero-sum game

Some people also hold the belief that diversity means that one person’s gain means someone else’s loss. Ryan Williams, co-founder and president of Jopwell, a career advancement platform for black, latinx, and native american professionals, says, “As long as people think lifting other groups is a detriment to themselves or the group to which they identify, we’re going to have issues.”

[Photo: Daisy Korpics for Fast Company]

He goes on to reflect a conversation he recently had with an advertising executive. In advertising, he argues, the benefits of diversity is as clear cut as it can be. The more your team reflects the population that you want to market to, the more products you’re likely to sell. Yet those in the industry who advocate for greater representation continue to get push back. When people hear that their company needs to represent their customers, Ryan Williams says, they tend to think, “Well, what does that mean for me?” Diversity isn’t a zero-sum game, Ryan Williams asserts. “We can all win.”

Misconception: Companies need to only focus on employees when it comes to diversity

For many companies, diversity and inclusion efforts often stop at recruitment, but Bari Williams says that it’s important for companies to go further. “I don’t look at diversity as an employee thing. I look at it as a four-legged stool. You should look at employees, customers, suppliers and board members.” Bari Williams observes that many companies aren’t paying enough attention to suppliers and board members. Facebook’s first non-white board member, for example, was appointed just under two years ago.

[Photo: Daisy Korpics for Fast Company]

Ultimately, Bari Williams believe that companies will only make true progress if they make diversity and inclusion a core business practice. She observes, “You don’t ever see diversity embedded in [company’s values and statements].” Companies need to do things like tie diversity goal to an individual’s contributions and performance at the company. It’s those kind of practices, Bari Williams argues, that make employees understand success at their company requires a lot more than just being good at their day jobs and going home.

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