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DEI meaning: what does DEI & DEIB stand for?

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DEI & DEIB definition

DEI (diversity, equity and inclusion) is an organisational framework that aims to advance the fair treatment and full participation of all people, especially groups who have historically been underrepresented or subject to discrimination on the basis of identity or disability.  

In some cases, DEI can be referred to as D&I, I&D or IED, among others. Sometimes referred to as DEIB (to include “belonging”), the framework signifies a mutually beneficial relationship, philosophy, and culture that recognises, values and accepts people who are different in terms of their race, gender, sexual orientation, and socioeconomic status, among other categories.  

What does DEIB stand for? 

  • Diversity: Recognises that people differ in a wide range of dimensions, including socioeconomic status, religion, age, sex, gender, race, and sexual orientation. (See Diversity) 
  • Equity: Enabling all employees - regardless of identity or origin - equal access to opportunities in order to ensure justice in policies, procedures, and results. (See Equity)   
  • Inclusion: Describes practical aspects of diversity in the workplace. It refers to assistance, showing respect, and appreciating every person and group. (See Inclusion)  
  • Belonging: Refers to the feeling that one is an integral part of their environment, social group, culture, workplace, community, etc. (See Belonging) 

Real-world context

  • Wider talent pool and employee engagement: Having an effective DEIB strategy fosters an inclusive work atmosphere, which, in turn, makes workers feel important and appreciated. Employee engagement increases when their labour is valued, leading to increased levels of job satisfaction and dedication. Employers that value diversity also reap the benefits of a wider talent pool, since they draw in exceptional applicants that conventional hiring methods might have missed. 
  • Profitability and productivity: Research indicates that diverse teams outperform homogeneous ones in terms of output, since a range of viewpoints fosters original problem-solving. This boosts productivity and lowers expenses related to mistakes or lost opportunities brought on by non-diverse thinking. Furthermore, studies have demonstrated that diverse teams outperform non-diverse teams in terms of revenues, since they have higher customer satisfaction rates when interacting with clients from a variety of backgrounds. For instance, according to BCG, organisations with above average diversity produce 19% more revenue from innovation, compared to their less diverse competitors.  
  • Cohesion: A strong DEIB strategy will address issues with employee cohesion and tackle the impact of employee activism. With the current rise of identity politics in the workplace, there is a high chance of divide among the employee groups, which affects ways of working and inclusion in the workplace. An effective DEIB strategy will address these issues by providing space for employee activism whilst encouraging the values of representation and respect.  

Related services

To continue reading about FAIRER Consulting and our DE&I consultancy services, please see some of our related pages here:

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