Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
Upcoming SlideShare
What to Upload to SlideShare
What to Upload to SlideShare
Loading in …3
×
1 of 12

Inclusion And Diversity Maturity Benchmark – Creating An Inclusive Workplace | Zinnov

0

Share

Download to read offline

What is the value of Inclusion and Diversity (I&D) for the C-suite, employees, and job seekers? This question is not always easy to answer, as there are several factors to consider, such as our personal experience, ecosystem awareness, and management approach, to name a few. Interestingly, COVID-19 has broadened the scope of I&D, from just being women-, LGBTQ+ (Lesbian, Gay, Bisexual, Transgender, Queer)-, and PwD (Persons with Disability)-friendly, to being considerate of other minority groups, including individuals dealing with bereavement, caregivers to family members, sole bread earners, etc.

There are several visible gaps observed when developing an enterprise-level I&D plan, most of which lack contextual and personal dimensions. Mastering such issues can be a challenge but can also be incredibly rewarding. It is about taking that crucial first step.

This latest Zinnov’s marquee report on ‘Creating an Inclusive Workplace’ touches upon these aspects and more, by delving deep into the factors that help organizations create workplaces that are not just inclusive, but diverse and empathetic as well. The report aims to help accelerate a mindset shift at an organizational level by empowering leaders to make informed decisions with I&D at the core of long-term business strategy. Download the full report now, by visiting https://bit.ly/2SyJzzW or dropping us a note at info@zinnov.com

More Related Content

You Might Also Like

Related Books

Free with a 30 day trial from Scribd

See all

Related Audiobooks

Free with a 30 day trial from Scribd

See all

Inclusion And Diversity Maturity Benchmark – Creating An Inclusive Workplace | Zinnov

  1. 1. This document is solely for the use of Zinnov Client and Zinnov Personnel only. No part of it may be quoted, circulated or reproduced for distribution outside the client organization without prior written approval from Zinnov. Inclusion and Diversity Maturity Benchmark Executive Summary Creating an Inclusive Workplace 2021
  2. 2. Agenda About The Study Current State of I&D Key I&D Trends I&D Maturity Landscape Maturity Deep-Dive The Way Forward …4 …7 …11 …14 …17 …33
  3. 3. Zinnov’s approach to Inclusion & Diversity Inclusion & Diversity (I&D) at the Workplace – SCOPE OF I&D DEFINITION OF I&D Inclusion & Diversity (/ɪnˈkluːʒ(ə)n/ /ænd/ /dʌɪˈvəːsɪti, dɪˈvəːsɪti/) Inclusion in the workplace is a collaborative, supportive, and respectful environment that increases the participation and contribution of all employees. Truly inclusive workplaces remove all barriers, discrimination, and intolerance (of races, ethnicities, genders, ages, religions, disabilities, sexual orientations, education, personalities, skill sets, experiences, knowledge bases etc.) Diversity – quite simply put – is equal and fair representation, regardless of demographical differences. Diversity is an automatic outcome, and a core subset, of an ‘inclusive workplace’. Hence, Zinnov strongly believes in the need to prioritize Inclusion first – organizations need to look at is at “I&D” and not “D&!”. While Inclusion & Diversity are all-encompassing concepts that address all aspects of demographic, political, educational, cultural and religious differences, there is still a long way to go before we as a society are able to holistically envelope barriers without distinction. Through this assessment, it was seen that top I&D charters across India’s GCoE Ecosystem are currently still focusing on 3 key diverse communities and hence, basis explicit focus areas for the target audience and for the sake of a uniform benchmark analysis, the scope of this Study has been restricted to inclusion of the following: Diverse Representation Affirmative Action WHAT THE PERCEPTION OF I&D IS… …VS. WHAT I&D ACTUALLY IS Diverse Representation Affirmative Action Eliminating Systemic Biases Mobilizing Allyship Creating Safe Spaces for Open Conversation A Cultural Mindset A sense of Belonging Equity at the Core Acceptance Collective Accountability The presence of structured programs, policies and networks that address I&D across generations and cultures in select mature GCoEs is acknowledged and appreciated, but will fall out of scope for the 2020 Industry Benchmark. Women Lesbian, Gay, Bisexual, Transgender, Queer (LGBTQ+) Persons with Disabilities (PwD) ABOUT THE STUDY
  4. 4. Why prioritize Inclusion & Diversity? Diverse Talent Pool 27% Higher Creativity & Better Innovation 14% Reduced Attrition 22% Improved Decision Making 9% Increased Bottomline Impact 5% Positive Culture Builidng 23% Drivers behind prioritizing I&D in India GCoEs IMPACT OF I&D ON ORGANIZATIONS’ PERFORMANCE What are the key Advantages of becoming an Inclusive Workplace? Source: PeopleMatters, BCG Insights, Company Annual Reports, Zinnov Research & Analysis Diverse Talent Pool (Attraction), Positive Culture Building and Reduced Attrition – According to Glassdoor, in 2019, 67% of job seekers weigh diversity as a factor when evaluating company offers. Further, it was seen that cognitive stimulation through different perspectives, increase in transparency, empathy and commitment to workforce wellbeing leads to significant increase in brand value, job satisfaction, loyalty – hence culture. Increased Bottomline Impact – I&D benefits profitability as well as turnover. A study from Bersin showed that diverse companies had 2.3X higher cash flow per employee over a 3- year period than non-diverse ones. Further, the ability to create more inclusive products & services boosts brand favourability & widens one’s consumer base. Improved Decision Making – Diverse teams make better decisions. Cloverpop, an online decision-making platform, conducted a study across 200+ teams that showed a direct positive correlation between diverse teams and better decision-making. diverse teams have a 60% improvement in decision-making. Higher Creativity & Innovation – Research by the Harvard Business Review (HBR) provides compelling evidence that diversity unlocks innovation and drives market growth. The study discovered that diverse companies are 70% more likely to capture new markets, which, in turn, yields higher performance. Similarly, a study by BCG in 2017 proved that companies with diverse leadership report higher innovation revenue. 26% 45% Average Innovation Revenue reported by Organizations Orgs with below-average diversity scores Orgs with above-average diversity scores Note: • Avg diversity score calculated using the Biau index, a statistical means of combining individual indices into an overall agg. index • Innovation Revenue : Percentage of total revenue from new products & services launched over the past 3 years ABOUT THE STUDY
  5. 5. Participant Demographics Chennai 16% Mumbai 11% Hyderabad 31% Bangalore 82% Pune 37% NCR 19% GCoE Presence across Locations(2) 90+ Centres 50+ GCoEs(1) Headcount <500 20% Headcount 500-3,000 45% Headcount >3,000 35% Organization Headcount Across Industries Semiconductor 8% 8% Software & Internet 52% 52% Automotive 6% 6% BFSI 11% 11% Others 13% 13% (1) 50+ GCOEs include those who directly participated in this study as well as those analyzed through primary conversations and secondary analysis (2) Location spread includes GCOEs with centers in >1 city in India and hence the percentages will surpass 100% ABOUT THE STUDY
  6. 6. India’s diversity landscape is extremely rich… Home to 120+ languages, 100+ festival, 25+ cuisines and every single major religion in the world, the heterogeneity of India’s cultural fabric is one of its biggest strategic assets. Today, India is the second most populated country with nearly one-fifth of the world’s population, with the average age capping at 28 years, compared to China’s 37 and USA’s 40 . A historic driver for growth in India, the country’s technical talent profile continues to be highly sought after, with an expert survey by Korn Ferry calling out innovation, agility and I&D being key trends driving the workforce of the future . To that end, India is expected to graduate more women engineers than the entire world combined in the next 2-4 years. With nearly half its population below the age of 25, India has witnessed an era of political, social and cultural revolution to break traditional “social evils” such as casteism, sexism, income inequality, etc., supported by judicial efforts in backing inclusion of the LGBTQ+, People with Disabilities (PwD) and other marginalized communities, in the last decade. India has also experienced the birth of multiple NGOs, government supported organizations and socially driven enterprises committed to serving for the betterment of the country. 122+ 100+ 9+ 25+ Languages Festivals Religions Cuisines DIVERSITY IS IN INDIA’S DNA India’s Demographic Diversity – A 2020 Snapshot(1) COMMUNITY % TOTAL POPULATION LITERACY RATE EMPLOYMENT RATE Men 52.0% 82.0% 76.0% Women 48.0% 66.0% 20.3% LGBTQ+ >4.0% DATA GAP DATA GAP PwD ~2.3% ~52.2% ~23.8% (1) Indicative numbers (basis latest estimates), but not accounting for the gross underreporting that comes with significant data collection challenges, especially in the case of the LGBTQ+ and PwD population in India Source: International Labour Organization (ILO), Work Bank Databank, UN Factsheet, Census 2011, National Statistics Office, News Articles CURRENT STATE OF I&D
  7. 7. …but India Inc. still has catching up to do in contributing to the global diversity agenda As per the Global Diversity Readiness Index by SHRM and the Economic Intelligence Unit, Scandinavia, North America and Western Europe demonstrate the best regional performance for Diversity and Inclusion (listed in order of finish). They rank an average score of 70 out of 100. On the other hand, Asia, Eastern Europe, South America, Africa, the Middle East and South Asia (listed in order of best to worst) score significantly below the world average of 52. South Asia is ranked the lowest region on the index, with an average score of ~38. This tells us that while globally, there still remains to be significant progress yet to be made with respect to attaining diversity & inclusion in workplaces, South Asian countries have an even bigger mountain to climb to be at par with the rest of the world, in this regard. Further, India’s Performance on the World Economic Forum’s (WEF) Global Gender Gap Report has declined considerably since 2018. The lowest performing subindex, well below the global average, was that of Economic Participation and Opportunity that measures labour force participation rate, wage equality, estimated earned income, etc. Organizational Diversity – A Global View (1) Ranking of 47 countries across 5 Diversity Categories (National, Workplace, Social, Legal, Govt) (2) Overall Score of Global Diversity, out of 100. GLOBAL DIVERSITY READINESS INDEX(1) COUNTRY RANK SCORE(2) Best-in-Class Back Benchers 1 2 3 4 7 14 26 41 44 45 46 47 Sweden Norway New Zealand Canada UK USA Israel India China Nigeria Indonesia Saudi Arabia 73.0 72.2 71.5 70.1 66.9 61.5 49.5 35.8 31.8 31.3 30.8 22.7 South Asia is a back-bencher in the Global Diversity Classroom THE FIGHT IS FAR FROM OVER FOR INDIA INC. PARAMETER 2018 Report 2020 Report 2021 Report Score(3) (0-1) Rank ( / 149) Score(3) (0-1) Rank ( / 149) Score(3) (0-1) Rank ( / 156) Global Gender Gap Score 0.665 108 0.668 112 0.625 140 Economic Participation and Opportunity 0.385 142 0.354 149 0.326 151 Educational Attainment 0.953 114 0.962 112 0.962 114 Health and Survival 0.940 147 0.944 150 0.937 155 Political Empowerment 0.382 19 0.411 18 0.276 51 (3) For all subindexes, the highest possible score is 1 (gender parity) and the lowest possible score is 0 (imparity) Source: by Society of Human Resource Management (SHRM) and the Economic Intelligent Unit of UK, World Economic Forum (WEF) CURRENT STATE OF I&D
  8. 8. India Inc. faces certain key challenges to successfully achieving I&D at the workplace… INDIA INC. HAS VARIOUS UNIQUE HURDLES TO CROSS IN THE MARATHON RACE TOWARDS I&D Conscious and Unconscious Biases India faces a myriad of innate systemic biases around gender, sexuality etc. within sections of society, that have been passed on through generations and trickled into interactions at the workplace. CULTURAL CHALLENGES ORGANIZATIONAL CHALLENGES Rigid Gender Roles and Stereotypes An implication of the above, there is rigid stereotyping of certain responsibilities associated only with specific communities (i.e., women having to be the primary caregivers, PwD only playing supportive back- office roles etc.) Lack of Awareness Most sensitive / personal topics – around sexuality, caste / religion, mental illnesses (depression, anxiety, addiction etc.) and so on – are considered taboo and never taught in schools or entertained as discussions in society. Low Literacy within Diverse Communities India’s literacy landscape faces glaring gaps, with marginalized communities bearing the brunt. Women, PwD, the economically backward etc. do not have easy access to affordable / quality education which makes it especially difficult for them to secure formal employment. Lack of stringent Implementation of Regulations Despite legal paperwork showing support for marginalized communities in India, the lack of directives around implementation, or penalty for non- compliance, further augments the challenges faced in including them in the workforce. Lack of Shared Accountability The HR function still carries most of the weight of accountability (for meeting I&D goals). Sponsorship and guidance needs to come as much from Business and Product Leaders, as from Corporate Functions. Further, there needs to be a cultural shift towards “conscious inclusion” that trickles down to all employees, not just the I&D Council, with all conversations around “inclusion” being two-way. Diversity Fatigue With the motivation being largely around meeting diversity quotas, there is a significant threat of exhaustion, frustration and disconnect associated with I&D initiatives. Restricted approach to I&D The scope / focus of I&D in organizations is still predominantly limited to inclusion of women, with other types of diversity (generational, cultural, LGBTQ+, PwD etc.) taking a back seat. Glaring Process Gaps A majority of I&D programs are failing to showcase targeted outcomes, due to glaring process gaps that are yet to be addressed. (Ex: Diversity hiring initiatives are futile if the interview panel has not been properly sensitized towards the needs of diverse communities.) Lack of Infrastructural Support There is a high investment required to set up ‘inclusive infrastructure’ like disable-friendly infrastructure (braille, audio-visual communication etc.), nursing rooms, employee safety equipment and so on. CURRENT STATE OF I&D
  9. 9. …but the road towards making India an equal opportunity ecosystem looks promising Inclusion & equality cannot be tackled alone. The role that GCoEs must play in the triad of Government- Corporate-Community to improve India’s diversity divided is instrumental. In fact, GCoEs have a unique opportunity to bolster global I&D initiatives to India’s context and become the torch-bearer for an inclusive workforce, to other offshore locations. 4-6% Average increase in organizational Diversity ratio, expected by 2025 GCoEs (at least) have some presence of all these 3 diverse communities in India 25% GCoEs attribute higher retention to increased focus on diversity initiatives 75% GCoEs have seen improvements in engagement, productivity & innovation owing to higher diversity ratios 70% GCoEs are committed to I&D as a strategic priority in the next 3-5 years 90% I&D IN INDIA INC. – A PROMISING FUTURE GCoEs have a key role to play in making India an equal opportunity country Source: World Bank Data, McKinsey Global Insights, The Economic Times Zinnov Research & Analysis India, much like other large Asia-Pacific economies, is paying a heavy price by excluding marginalized communities from the workforce. Lack of Inclusion & Diversity at the workplace, has drastic economic & business implications. The Power of Parity: India’s Untapped Economic Potential Looking specifically at inclusion of women, India has one of the most significant opportunities in Asia- Pacific to boost the economy by advancing male-female equality. Research shows that by making India a more gender inclusive ecosystem, India can potentially add up to $2.9 trillion additional annual GDP in 2025. This is 60% higher than the business-as-usual GDP estimated for India in 2025. “From an economic perspective, trying to grow without enabling the full potential of women is like fighting with one hand tied behind one’s back,” the report says. On gender equality at work, the six countries quoted furthest from gender parity were Bangladesh, India, Japan, Nepal, Pakistan and South Korea. India’s GDP loss due to homophobia (caused by factors such as lost wages and health costs) was nearly $32 billion, or 1.7% in 2016 Anywhere from 1 to 7% of GDP is lost in Low- & Middle-Income Countries due to exclusion of PwD from the workforce. Specifically in India, of the ~70 million persons with disabilities in India, only about 100,000 have succeeded in obtaining employment in industry Inclusion then not only becomes a prerequisite for better business or society, but also a key factor in propelling India’s economic growth and global significance. CURRENT STATE OF I&D
  10. 10. Key Inclusion & Diversity Trends in India Inc. (1/3) INCLUSION HAS BECOME A CORE STRATEGIC AND CULTURAL PRIORITY A MAJORITY OF “DIVERSITY” FOCUS IS STILL LIMITED TO INCLUSION OF WOMEN REPRESENTATION AT THE LEADERSHIP (CXO-LEVELS) IS YET TO REFLECT THE SHIFT I&D COUNCILS ARE BECOMING THE “NEED OF THE HOUR” I&D SPENDING IS MAJORLY DISCRETIONARY IN NATURE INCREASING NO. OF GCoES ARE INVOLVED IN ECOSYSTEM OUTREACH & SUPPORT A B C D E F KEY I&D TRENDS
  11. 11. © 2002-20 Zinnov. All Rights Reserved Santa Clara | Houston | Paris | Bengaluru | Gurgaon Click Here to Download the Full Report Or write to us at info@zinnov.com

×