Driving Change: Making EDI a Core Focus for C-Suite Leader

EDI as an Organisational Priority

Equity, diversity, inclusion, and belonging is essential within the workplace – fostering an environment that supports everyone. When establishing this, it is crucial that all senior leadership team members within the business play a role in fostering this approach. But with varying degrees of influence and priorities, EDI looks different for each role.

Chief Executive Officer (CEO)

Priority level: Medium to High

Why EDI is a priority: For a truly integrated EDI strategy, the messaging, communication, and inclusive action needs to start at CEO level.

Chief Financial Officer (CFO)

Priority level: Medium

Why EDI is a priority: while CFOs should be encouraging participation, their role requires a more hands-on risk assessment approach to EDI – providing insight into the financial benefits and risks associated with shifting business strategies.

Chief Human Resources Office (CHRO)

Priority level: High

Why EDI is a priority: from hiring inclusively to maintaining a diverse workforce that fosters a sense of belonging, you are the leaders in EDI change.

Chief Information/ Technology Officer (CIO/CTO)

Priority level: Medium

Why EDI is a priority: EDI matters when it comes to incorporating accessible, ethical, and inclusive designs and technologies into your infrastructure. While EDI might not be a part of your day-to-day, it will be essential during decision making.

Chief Operating Officer (COO)

Priority level: Medium

Why EDI is a priority: for better operational resilience, you will need to ensure inclusivity and diversity within your teams to achieve smoother communication, innovation and better team performance.

Chief Marketing Officer (CMO)

Priority level: High

Why EDI is a priority: EDI is key for brand trust, market relevance and diverse thinking, making it a necessity for marketing teams to consider when representing the business.

While each member of your C-suite will have different priorities and embrace EDI in their own way, it is essential for the success of your approach to ensure that everyone in your leadership team is taking an active role in the changes towards diversity and belonging.

Attitudes to EDI During Economic Uncertainty

During economic uncertainty, prioritising new strategies, technologies, and approaches requires deeper thought. More businesses than ever are facing economic strain with a 3.5% growth in companies in financial distress in Q4 2024.[2]  However, with this financial worry, companies are encouraged to not reverse the progress that has been made in EDI. Despite the added financial pressure on businesses, 85% of organisations reported no significant changes to their EDI strategies – holding steady to their commitments.[3]

While some companies did report cutting back on their efforts, a larger number of businesses claimed to have invested more into their EDI strategies at the beginning of this year – showing a clear commitment to improving diversity, inclusion, and belonging within the workplace. Of those who did cite a reduction in EDI activity or investment, they claimed financial strain was the reason. This highlights the importance of establishing strong values around your EDI commitments and closely aligning your company reputation with such values – with 75% of organisations claiming their EDI policies moderately align with their core business objectives, and 13% claiming a strong alignment.

How EDI Investment Benefits Your Business

Investing in EDI has proven to help many companies enhance performance and resilience. By investing in your EDI approach, you can better ensure that your workforce feel represented and welcome within the work environment, creating an environment for innovation to thrive.

Resilience

Diversity, equity, and inclusion is an essential business approach that not only provides a sense of belonging for your workforce but also encourages higher resilience and benefits your companies brand positioning. Companies that actively ensure EDI is met within their business found that they were 70% more likely to retain loyal customers.[4] By representing your business as one with high moral values, you can build a stronger customer base and ensure a consistent return on investment for your EDI initiatives.

Performance

EDI strategies are also essential when it comes to building performance within your teams. Diverse teams can draw upon wider experiences and broader perspectives, leading to more innovative and creative thinking, driving performance and efficiency. Research shows that diverse teams outperform others by 35%, and during a time where business adaptability and resilience is essential to success, this margin of performance can ensure that your organisation meets customer demands while fostering an inclusive work environment.

How Your Recruitment Partners Can Help

Developing and maintaining a successful EDI approach, even during economic uncertainty, can be done, but it involves strong strategic planning and effective workforce support. One of the main challenges companies find when it comes to establishing EDI strategies is a lack of understanding of your current position or data-driven insight to support each change. Working with a trusted recruitment agency can help you better understand your current workforce demographic, support changes that seamlessly integrate into your current workforce, and encourage all levels of employees into participating towards EDI initiatives in a beneficial way through coherent planning and advisor support.

Looking to develop your own EDI or better understand the changes you can be making? Contact one of our trusted advisors here.