The keys to business success and global inclusion. Â
By Chevez, Ruiz, Zamarripa y Cia
In this recent article in collaboration with Abogadas MX , our partner Daniel De la Parra, our associate Cristina Suarez Bellido and our senior Susana Mendoza write about “Diversity, Equity and Inclusion: Keys to Business Success and Global Inclusion.” ✨
In this publication, they explore how DEI (Diversity, Equity, and Inclusion) has become an essential pillar for organizations looking to innovate, stay ahead of the curve, and compete in a globalized marketplace. 💪Through strategies such as mentoring programs, transparency in promotions, and the creation of committees, this article breaks down the keys to building a fair and equitable work environment.
Diversity, equity and inclusion, which we will define hereafter as DEI, have become strategic pillars that allow organizations to be more competitive and innovative. In this article we will analyze how to promote DEI as part of the organizational culture, with the aim of transforming the ability to innovate, stay ahead and compete in globalized and constantly changing markets.
The Economic Commission for Latin America and the Caribbean (ECLAC) of the United Nations (UN) defines social inclusion as a concept that seeks and ensures “that all people without distinction can exercise their rights and guarantees, take advantage of their abilities and benefit from the opportunities found in their environment” (1).
Cognitive diversity, on the other hand, refers to the inclusion of different ways of thinking, solving problems and addressing situations within an organization. It must be addressed from a multidisciplinary perspective that encompasses, among others, the variability in life experiences, identities, skills and perspectives, ensuring the participation of all in the exercise and defense of human rights (2). This cognitive diversity is essential for innovation, as it fosters an environment where divergent ideas can flourish and enrich the decision-making process in an organization, facilitating the resolution of complex problems and strengthening organizational resilience.
Various studies have shown that diversity, when managed effectively, increases the variety of perspectives that, under inclusive leadership, can lead to creative and innovative solutions. Specifically, teams operating in inclusive and respectful environments are able to identify a greater range of solutions to problems, leading to more robust and innovative decision-making. According to Harvard Business Review (HBR) (3), organizations that promote diversity are 70% more likely to access new markets and develop disruptive solutions.
When different perspectives are respected and made visible, the exchange of ideas is enhanced, which generates more dynamic innovation ecosystems. Companies that incorporate DEI as part of their business strategy and compliance culture manage to strengthen the identity and belonging of their staff, which in turn drives business growth and success. HBR studies show that diverse boards of directors not only increase staff engagement, but also boost organizational productivity (4).
Read the full article here
