My passion and drive to be an inclusive leader are heavily guided by my experiences as a Black woman and over 28 years of work experience in various industries so I know firsthand what inclusion can do for someone. Inclusion in the workplace give people the opportunity to go beyond their comfort zones with support, and comes with a responsibility for modeling, mentoring, and monitoring.
Younger Employees Want to Work For Inclusive Leaders
Employees have their own take on inclusive leadership, as well. Here are noteworthy statistics that demonstrate workers’ opinions regarding this leadership style.
- Younger employees in the workforce, specifically millennials, are advocates of this leadership style. 74% believe that an organization with an inclusive culture tends to foster innovation. This constant innovation in the business world is essential, especially if companies want to remain relevant in their respective fields.
- Millennial workers respond to inclusive leadership more favorably because it promotes a collaborative workplace. Working in these environments allows them to see their job’s significance and value to the organization and receive recognition for their efforts. That is why 83% of millennials are more engaged when they work for a company that fosters an inclusive culture.
- These younger workers thrive under this leadership style because it promotes a sense of awareness and acceptance of who they truly are. 81% of surveyed millennials say they can showcase their authentic selves in a company that advocates inclusion. Millennial employees strongly believe their characteristics can be impactful and valuable to various business outcomes.
Younger Top Job Candidates Want Inclusive Leadership Cultures
- Inclusive leadership impacts the job market in general. Data shows that 76% or three out of four job seekers consider diversity, equity, and inclusion as driving factors in their decision to accept or reject a job offer. Simply put, establishing this kind of environment is what workers expect from organizations. This is especially true for the younger generations as 47% of millennials believe that DE&I efforts are important considerations when looking for a new job, compared to only 37% for Baby Boomers and 33% for Gen X-ers.
- Indeed, the importance of inclusive leadership cannot be understated any longer considering that 32% of employees wouldn’t even apply to a company if they do not have an inclusive workforce. Inclusion and diversity are now the major forces in improved company culture and successful hiring and retention of quality workers.
How Employers Gain from Inclusive Leadership
The rise of inclusive leadership is advantageous not only for the employees but also for their companies. Inclusive leadership can provide intangible benefits that organizations may not even be aware of when implementing diversity and inclusion initiatives. Here are some examples of how companies benefit from inclusive leadership:
- Twice as likely to reach or surpass financial targets
- Three times more likely to perform at a higher level
- Six times more likely to be adaptive and innovative
- Eight times more likely to produce better business results
Inclusive leadership can play a significant role in the success of different aspects of team processes and performance. Companies that excel at making employees feel included reported a 17% increase in perceived team performance, and a 20% increase in decision-making quality.
Because collaboration rates. everyone feels included, team members feel inspired and driven to work better, thus vastly contributing to business success.
Inclusive Leaders Provide Companies With a Competitive Advantage
- Inclusion initiatives can also provide a competitive advantage. Research shows that a company is 70% more likely to be successful in penetrating a new market when they have a diverse and all-inclusive company culture.
- Nowadays, consumers pay more attention to companies that practice inclusive and diverse policies. For one, 34% of consumers are more likely to make an immediate purchase from a particular brand that creates diverse advertisements. That bodes well for any company as it can directly affect their bottom line.
- In addition to contributing positively to public perception and customer behavior, inclusive leadership plays a role in taking a company to the next level. As such, companies that consider themselves diverse and inclusive are 35% more likely to outperform their competitors.
These statistics only scratch the surface of what inclusive leadership can bring to the table. With enough effort and commitment, companies can significantly benefit from working with inclusive leaders.
Are you ready to explore executing a DEI strategic plan to meet your business goals? Contact Us.