Initiatives in diversity, equity, inclusion and belonging (DEIB) are the core of success in a business landscape that is ever more globalized.
Globalisation has profoundly impacted the workplace, society, and the economy. It has led to demographic changes in our workplaces, resulting in more diverse groups of employees, leaders, and customers. Unsurprisingly, our workplaces reflect the social and cultural dynamics beyond the organisations they belong to, as microcosms of the broader societal fabric.
Initiatives in diversity, equity, inclusion and belonging (DEIB) are the core of success in a business landscape that is ever more globalized. They contribute not only to greater inclusivity but also to a diversity of outlooks through multicultural teams and backgrounds.
Equity and inclusion create a workspace where each employee feels valued and has an equal chance for success. This, in turn, leads to a more engaged, productive, and loyal workforce. DEIB fosters a sense of belonging, building a strong community within the organization.
These are strategic advantages for promoting innovation and business success in diverse markets and cultures. As businesses expand and international trade grows, organisations are prompted to reassess various aspects of work.
The COVID-19 pandemic notably influenced globalisation and highlighted the significance of DEIB in the post-pandemic workplace. Remote and hybrid work models have become strategic necessities for business growth and competitiveness.
The shift to remote and hybrid work models, as indicated by McKinsey’s 2021 study, showed that 20 to 25 per cent of workforces in advanced economies could work remotely three to five days a week, representing a significant change compared to pre-pandemic practices.
This shift requires a re-evaluation of how DEIB initiatives are implemented and sustained in environments where physical presence is reduced. Employees and companies could potentially relocate from large cities to suburbs, small towns, or even different countries, leveraging on lower operational costs but having to face new challenges in maintaining an inclusive and equitable workplace culture remotely.
In May 2021, JPMorgan Chase CEO Jamie Dimon sounded off about a concern for remote work at the Wall Street Journal’s CEO Council Summit. He posited that this mode of working might be less effective for young individuals, particularly those who aspire to achieve success through diligence and hard work.
This view has since been supported by numerous studies indicating that a substantial proportion of younger employees experience feelings of detachment and reduced commitment while operating remotely.
The preferences of Gen Z — flexible working, strong mental well-being, meaningful jobs, and quick career progression — are increasingly aligned with DEIB strategies in the modern workplace. The call for flexible working arrangements from Gen Z resonates with DEIB’s objectives of creating environments that respect the diversity of people’s lifestyles.
This includes flexible working hours and remote opportunities, enabling all employees to manage their time both personally and professionally.
Managing Diversity in a Modern Global Workplace
The modern workplace requires leaders to redesign their DEIB strategies to accommodate the majority of the workforce working remotely and the rapid growth of Generation Z. This involves transforming traditional leadership models to prioritize flexibility and the use of technology for interaction and engagement.
Organizations must use technology to create and maintain an environment where all employees, regardless of their location, feel connected to the work and the organization. Training programs on bias and cultural competence must be accessible to all employees, especially those working remotely, via interactive online platforms.
Recruitment processes should shift focus from traditional qualifications to competency and potential. Using anonymized tools in resumes can help avoid unconscious bias, aligning with Generation Z’s values of fairness and inclusivity in hiring.
Policies ensuring fairness in pay and equal career advancement opportunities for remote workers are essential. Regular diversity audits and digital employee surveys will facilitate real-time monitoring of DEIB progress and prompt improvements based on feedback.
Leadership must promote a sense of belonging and value for all employees, ensuring that remote workers have equal visibility and opportunities to participate in decision-making processes. This could include virtual town halls and diverse communication channels.
The Role of Higher Education in Globalisation and DEIB
Globalization connects diverse populations, yet it can also deepen social disparities in areas like digital access, economic opportunities, and cultural integration — challenges that are particularly pronounced for Gen Z in remote work settings. Addressing these gaps requires a robust educational framework, especially in higher education.
It should aim to empower individuals by providing the skills and knowledge necessary for global market success, enhancing social mobility, and deepening cultural understanding. Higher education also has to foster critical thinking and empathy, enabling individuals to confront and rectify existing inequalities and champion a more inclusive society.
Universities play a critical role in advancing DEIB through promoting inclusive policies for diverse programs and nurturing environments for all students. By doing so, they pave the way for future leaders who can handle and draw solutions to global and multicultural challenges.
In conclusion, the challenges and opportunities presented by globalisation in the post-pandemic era require innovative approaches to workplace diversity and education. By embracing DEIB initiatives and adapting to new work models, organizations and educational institutions can foster an inclusive, resilient, and forward-thinking global community.
“The differences between people need not act as barriers that wound, harm, and drive us apart. Instead, these differences among cultures and civilizations should be valued as manifestations of the richness of our shared creativity.” — Daisaku Ikeda