Diversity in Business Development-Why Representation Matters?

Abstract

It has been rightly said by Josh Bersin- ‘Companies that embrace diversity and inclusion in all aspects of their business statistically outperform their peers.’ Today, Diversity and Ethnic Inclusion, popularly known as DEI, is gaining momentum in the corporate world. More and more companies are focusing on being diverse by incorporating D&I policies at all workforce levels. However, making a company diverse and inclusive is much more than a matter of ethics.It is also a driving force of growth,revenue, and profit. This article explores the current trends of the subject matter along with the contemporary statistical analysis and how the organizations are faring in this regard. One of the contemporary trends is inclusion of women and people of color in the leadership positions in business organisations- the same has been statistically proven to result in economic gains. This article enlists several instances and examples which further the cause and the subject matter of the point of workplace diversity. Furthermore, this article exposes the flaws in the current diversity rhetoric and outlines what a 21st-century inclusivity paradigm could look like as well as how leaders can foster it. The reader will be able to acknowledge the dynamic paradigm of this issue and will be able to understand a gist of the concept of workplace diversity and how it is still a work in progress.