Our health and safety software tools empower your workforce by collecting and managing information and helping streamline the implementation of DEI strategies in the workplace
DEI stands for diversity, equity, and inclusion. It is the general term used to describe the strategies and practices aimed at creating a workplace that celebrates people with different experiences, backgrounds, and opinions.
Employees cannot do their best work unless their basic needs for safety, respect, and belonging are met.
DEI initiatives help workplaces foster a more inclusive environment that values people of all races, ages, gender identities, sexual identities, people with disabilities, and other identities.
The benefits of implementing DEI strategies in the workplace can’t be understated. In fact, they’re supported by statistics. Companies that go the extra mile to make sure their employees feel respected, have the tools they need to do their jobs, and celebrate diversity are outperforming their counterparts in just about every aspect from employee satisfaction to actual financial gains.
A study conducted by McKinsey & Company found that ethnically diverse companies are 35 percent more likely to have financial returns above their respective national industry medians.
According to a Deloitte survey, 80 percent of workforce respondents said inclusion efforts were an important factor when choosing a company.
According to a study by Harvard Business Review, diverse companies are 70 percent likelier to capture a new market and 45 percent more likely to report increased market share year-over-year.
These statistics aren’t a coincidence. Employees can’t do their best work until their basic needs for safety, belonging and equity are met first. More diversity, inclusion, and equity in the workplace results in more perspectives being brought to the table, happier and more engaged employees, and therefore increased returns.
DEI practices are only as strong as the quality of their implementation. A workplace with successful DEI strategies not only boasts more financial gains, but happier, more engaged employees.
According to a study done by Global Industry Analysts Inc., companies that correctly implemented DEI policies “earn 2.5 times higher cash flow per employee and are more productive by over 35 percent” compared to companies with no DEI strategy.
According to a study from Culture Amp, only 50 percent of companies with DEI policies report having a DEI statement, a necessary component that shows your company's values and provides a blueprint for employees to follow. Kokomo24/7®’s DEI statement, for example, not only highlights our motivation behind working toward a healthier workplace, but also recognizes the various forms of diversity and the work that still needs to be done to achieve an authentically healthy workplace. You can read our statement below:
The most common way most workplaces kickstart DEI programs are in four phases: data gathering and analytics, creating policy based off those results, acting on those policies and then measuring and improving those policies.
Kokomo24/7® custom forms and surveys give employers the ability to gauge their employee’s opinions and perspectives to best implement the most effective and appropriate DEI strategies within the company.
Commonly, questions on these surveys ask how diverse people feel the company is, how equitable and fair the executive team and its policies are, as well as how safe employees feel at work.
Collect the information you need to help implement DEI strategies, when you need it
Kokomo24/7® Incident Management software allows employers to easily track and store employee incidents, leading to better solutions and a safer work environment
From reporting and monitoring to responding and recovering, Kokomo24/7® CASES puts the power in everyone’s hands.
Kokomo24/7® Anonymous Reporting tool allows employees to discreetly report when they witness concerning behavior, leading to a more inclusive work environment.
Empowering safe reporting
Implementation of DEI strategies in the workplace includes collecting employee data, analyzing it, setting clear and measurable goals based on your company’s needs, and holding your workplace accountable to them. Then, follow up with employees and improve your policies based on feedback.
The benefits of implementing DEI strategies in the workplace can’t be understated and are supported by statistics. The fact is, companies that go the extra mile to make sure their employees feel respected, have the tools they need to do their jobs, and celebrate diversity are outperforming their counterparts in just about every aspect from employee satisfaction to actual financial gains.
DEI is not a quick fix for corporate issues and will not transform your company overnight but is a key first step to proving your company’s commitment to creating a diverse, fair and inclusive environment. A workplace with successful DEI strategies not only boasts more financial gains, but happier, more engaged employees.