The Critical Role of Equity in DEI: Why SHRM’s Decision Demands Our Attention!
- Kai (kai h KY) - she/her/hers
- Jul 29, 2024
- 4 min read
Introduction
The Society for Human Resource Management (SHRM) recently decided to drop ‘equity’ from its DEI (Diversity, Equity, and Inclusion) framework to focus more on inclusion and diversity. This decision has sparked considerable debate within the HR community and beyond. As HR professionals, we must examine the implications of this change and understand why equity is fundamental to creating truly inclusive and diverse workplaces. This blog delves into the critical role of equity in DEI, the potential impacts of SHRM’s decision, and why we must advocate for the reinstatement of equity in the DEI framework.
“Advocating for fairness and social justice in the workplace”
Background
Diversity, Equity, and Inclusion (DEI) are interrelated concepts that form the foundation of a fair and just workplace. Diversity ensures that various demographic groups are represented, inclusion ensures that these diverse groups feel welcomed and valued, and equity ensures that everyone has access to the same opportunities, addressing systemic barriers that might hinder certain groups.
Equity is not just a buzzword or a nice-to-have but a fundamental right. It represents fairness for all people, ensuring that everyone, regardless of their starting point, has the support they need to succeed. Removing equity from the DEI framework risks undermining the progress towards creating fair and just workplaces.
Prevalence and Impact
According to McKinsey & Company, companies with robust DEI frameworks that include equity are 35% more likely to outperform their peers financially (McKinsey & Company). This statistic underscores equity’s significant impact on organizational performance and success.
A study by Catalyst found that equitable workplaces experience higher employee engagement, productivity, and retention (Catalyst). Employees who perceive their workplaces as equitable are more likely to feel valued and motivated, leading to a more committed and productive workforce.
“Equity: The Cornerstone of True DEI”
“Fairness and Justice for All: Upholding Equity in the Workplace”
Importance of Equity in DEI
*Addressing Systemic Barriers
Role: Equity addresses systemic barriers that prevent certain groups from accessing the same opportunities as others.
Benefits:
Fair Opportunities: Ensures everyone, especially historically marginalized, has the support needed to succeed.
Inclusive Growth: Promotes an environment where all employees can thrive, leading to overall organizational growth.
Social Justice: Upholds the principles of fairness and justice in the workplace.
*Enhancing Organizational Performance
Role: Equitable practices drive better business outcomes by fostering a more engaged and productive workforce.
Benefits:
Financial Performance: Companies with robust DEI frameworks, including equity, see better financial results.
Employee Engagement: Equitable workplaces experience higher levels of employee engagement and satisfaction.
Retention: Ensures higher retention rates as employees feel valued and supported.
*Building Trust and Reputation
Role: Demonstrating a commitment to equity builds trust with employees, customers, and stakeholders.
Benefits:
Brand Loyalty: Companies known for their commitment to equity attract and retain loyal customers.
Positive Publicity: Ethical and equitable practices generate positive media coverage and enhance public image.
Competitive Advantage: A strong reputation for equity and fairness provides a competitive edge in the marketplace.
The Risks of Removing Equity from DEI
By removing equity from the DEI framework, we risk undoing the progress towards creating fair and just workplaces. Diversity and inclusion efforts can fall short without equity, as they do not address the systemic barriers that prevent true equality. Here are some potential risks:
Reduced Employee Morale: Employees may feel less valued and supported, leading to lower morale and engagement.
Increased Turnover: A lack of equity can lead to higher turnover rates as employees seek more supportive and fair workplaces.
Weakened Organizational Performance: Without equity, organizations may struggle to achieve the same financial performance and innovation level.
Call to Action
HR professionals advocate for workplace fairness, social justice, and integrity. We must voice our concerns about SHRM’s decision to drop ‘equity’ from the DEI framework and urge them to reconsider.
Here’s what you can do:
Speak Up: Share your thoughts on social media, professional forums, and within your organization. Use your voice to highlight the importance of equity in DEI.
Engage with SHRM: Write to SHRM, participate in discussions, and engage with their decision-makers to express your concerns and advocate for the reinstatement of equity.
Promote Equity in Your Workplace: Regardless of SHRM’s stance, continue championing equity within your organization. Implement policies and practices that ensure fairness and support for all employees.
Support Advocacy Groups: Align with organizations and advocacy groups that promote equity and social justice in the workplace.
Conclusion
Equity is not a privilege; it is a right. HR professionals must uphold this principle and continue advocating for workplaces where every human can thrive. SHRM’s decision to drop ‘equity’ from DEI is a step backward, and it is up to us to ensure that fairness and justice remain at the forefront of our industry. Let’s set the standard for fairness and justice for all.
Articles
McKinsey & Company - Delivering Through Diversity
Catalyst - Equity in the Workplace
Good Reads
The Diversity Advantage: Fixing Gender Inequality In The Workplace by Ruchika Tulshyan
Equity: How to Design Organizations Where Everyone Thrives by Minal Bopaiah
The Inclusion Imperative: How Real Inclusion Creates Better Business and Builds Better Societies by Stephen Frost
References
McKinsey & Company. (2018). Delivering Through Diversity. Retrieved from Delivering growth through diversity in the workplace | McKinsey
Catalyst. (2020). Equity in the Workplace. Retrieved from Why Diversity and Inclusion Matter (Quick Take) | Catalyst
“Championing Social Justice: The Critical Role of Equity in DEI”
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