We are in the midst of a seismic shift when it comes to how companies address diversity, equity, and inclusion. This is, in part, due to the recognition that the strategies organizations have traditionally used to create more space at the table for historically excluded groups haven’t worked for some time. Getting this right has huge upsides, for employees, society, and the economy alike: According to McKinsey, narrowing the gender gap by 2025 would generate an additional $12 trillion in GDP and increasing financial inclusion for Black Americans would create approximately $2 billion in potential revenue.
Do Your DE&I Efforts Consider Age, Class, and Lived Experience?
Including these lenses alongside race, ethnicity, and gender can help your organization move toward more meaningful change.
July 01, 2021
Summary.
Organizations often have a narrow view of who they want to hire and retain. To make progress on this issue, leaders need to focus on both more traditional definitions of diversity (race, gender, ethnicity, and sexual orientation) and also expand their lens to consider age, socioeconomic status, and lived experience as well. When companies collectively decide to broaden the perspectives on what diversity can mean, it’s easier to understand how different experiences can be considered as an important counterpart to “traditional” — or university or work-earned — knowledge.
New!
HBR Learning
Diversity, Inclusion, and Belonging Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Diversity, Inclusion, and Belonging. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
How to build a better, more just workplace.
Learn More & See All Courses
New!
HBR Learning
Diversity, Inclusion, and Belonging Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Diversity, Inclusion, and Belonging. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
How to build a better, more just workplace.