Embracing DEI principles creates inclusive environments that drive business success
Words by Harish Iyer
Diversity, equity, and inclusion (DEI) are not mere corporate buzzwords but foundational principles that define decency and empathy in our lives. Being aware of the reactions our behaviors and actions could create, always measuring the success of individuals in the context of their available resources, and continually seeking broader representation when speaking or holding meetings are all parts of inclusion, equity, and diversity.
These principles are also components of kindness. In the corporate world, it is often assumed that one cannot put too much heart into the work. However, research shows otherwise. Studies have found that being mindful of kindness at work and respecting employees’ identities can lead to a more productive workforce.
I belong to the LGBTQIA+ community, which has long been ostracized, vilified, and sometimes even unrecognized. Over the years, as an organizer of Pride parades and movements, I have observed that when the masks come off and our real lives come to the fore, people stay longer in organizations and gain greater respect.
Take the case of my friend Kamala*. When Kamala came out of the closet in her profession as a teaching instructor, she faced criticism. She wore nail polish and a salwar kameez, embracing her feminine self in her trans identity. The lab in charge called her out and told her not to “rock the boat.” For Kamala, complying with gender norms would have been akin to confirming gender dysphoria. Although Kamala wanted to contribute more at work, her stint was short-lived.
She joined an international firm, but once again, people had issues with her using the women’s restroom. She couldn’t find the testosterone-filled men’s restroom safe for her. Despite my intervention, Kamala chose to leave. She carried a sense of guilt, feeling grateful yet wary of being perceived as someone always lost in the woods. It took her several organizations to find a space that truly understood and accepted her for who she is.
The more an organization mirrors the diversity of the world, the more solutions, viewpoints, and permutations it possesses. The lived experiences of employees are intertwined with those of clients and the markets they operate in. Principles of diversity, equity, and inclusion can be summarized as respect and kindness. The more kind and respectful you are, the more you win.
Diversity is a function of intent and requires intentionality. Inclusion is the fulcrum of the organization, demanding genuineness. Equity is the bridge between diversity and inclusion, reminding us that while someone may have won the race, the distance they travelled may have been shorter. Equity urges us to be mindful of this and prudent in our assessments.
Research from McKinsey & Company highlights that companies with greater diversity in their executive teams are 33% more likely to outperform their peers on profitability. This underscores the tangible benefits of fostering DEI within organizations. By embracing diversity, we not only create more inclusive workplaces but also drive innovation and success.
As Audre Lorde said, “It is not our differences that divide us. It is our inability to recognize, accept, and celebrate those differences.” Are we truly recognizing, accepting, and celebrating everyone’s differences, or are we still standing on the sidelines?
*name changed to protect identity
Harish Iyer is the Senior Vice President and Head Diversity Equity and Inclusion at Axis Bank. Beyond his professional work, Harish is a renowned activist, and an active voice who has played a cruicial part in updating the laws of the country to make them more inclusive.
