Top Tips 2021 – Equity, Diversity & Inclusion Important for Business Culture, Consumer Growth
Article provided by Community Partnership of the Ozarks
Equity, Diversity & Inclusion (EDI) encompasses the relationship, philosophy and culture of acknowledging, welcoming, embracing, supporting, and accepting those of all racial, sexual orientation, gender, age, disability, religious, socioeconomic backgrounds, and more while creating equal access to opportunity and distributing resources based on needs.
Thanks to funding from CFO, our community now has a Community Diversity & Equity Director, Tyree Davis IV, who has been charged with working to advance EDI across the community and creating infrastructure for other organizations and businesses to help improve EDI culture. Racism, discrimination and intolerance are roadblocks to improving the quality of life for everyone in our region, and we must do better as a community, state, and nation.
At CPO, we want to serve as a change agent, proactively addressing and promoting EDI by implementing the Inclusive Excellence Model within our organization and the communities we serve. This model drives systemic change and promotes inclusive organizational culture and opportunities. The model was first brought to Springfield and implemented at Missouri State University, and it has expanded to Springfield’s public entities and other non-profit organizations. We will work with our community partners toward the Inclusive Excellence Model’s ultimate goal—to prevent people of diverse identities from being left further behind and continue to make entities and organizations inclusive and excellent for everyone.
According to McKinsey, an American worldwide management consulting firm, “There is ample evidence that diverse and inclusive companies are likely to make better, bolder decisions—a critical capability in the (COVID-19) crisis. For example, diverse teams have been shown to be more likely to radically innovate and anticipate shifts in consumer needs and consumption patterns—helping their companies to gain a competitive edge.”
“The business case for inclusion and diversity (I&D) is stronger than ever. For diverse companies, the likelihood of outperforming industry peers on profitability has increased over time, while the penalties are getting steeper for those lacking diversity. Hiring diverse talent isn’t enough—it’s the experience they have in the workplace that shapes whether they remain and thrive,” McKinsey said.
Future plans include a three-session Inclusive Excellence in the Ozarks training that will be available to our non-profit partners and local businesses. “Diversity, equity, and inclusion are not just the right behaviors because they are needed, but different perspectives open the door to the success of business because lived experiences offer a new viewpoint that can bring in potential new consumers,” Davis said.
For information about this training, please contact Tyree Davis IV at email@example.com.