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Your company has a diversity problem. How can you create a culture of inclusion that works for everyone?

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You know that diversity is more than just a buzzword. It's a key driver of innovation, performance, and social impact in the venture capital industry. But how do you turn your commitment to diversity into a reality in your company culture? How do you foster a sense of belonging and inclusion for everyone, regardless of their background, identity, or perspective? In this article, you'll learn some practical tips and best practices to create a culture of inclusion that works for everyone.

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1 Assess your current situation

The first step to creating a culture of inclusion is to understand where you are now. You need to collect data and feedback on your current diversity and inclusion practices, challenges, and opportunities. You can use surveys, interviews, focus groups, or other methods to gather insights from your employees, partners, and stakeholders. You should also benchmark your data against industry standards and best practices. This will help you identify your strengths, gaps, and areas for improvement.

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Jerome Fulton, Jr., CPA

Tech Investor | Harvard MBA | Authentically Jerome
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Do you know what diversity means to your organization? Defining diversity and determining your DEI priorities is crucial for creating an inclusive environment. If diversity means having more women representation, for example, then you can properly assess and address your situation. Unfortunately, many organizations fail to define what diversity means to them, which leads to a non-inclusive environment. Remember, diversity is inviting someone to a party. Inclusion is asking them to dance. To ensure that everyone is being asked to dance, you must pair data with lived experience. Factual data and personal anecdotes from those who have experienced exclusion are essential for creating an inclusive environment.

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Pierre-Alexandre Guernon

Strategic Innovator | Marketing Consultant
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Thanks to Jerome, he added a great question : Do you know what diversity means to your organization? Also, whose diagnosis is it ? is it biased ? On what term and data ? Sometimes to diverge, you just need to see out of the box and include a more divergent thinking personality/non affiliative member to your organisation to shake things up and reach a growth stage. To ensure your organisation is diverse, make sure you include not identity but new ideas, thinking, views, skills etc. As Jerome said, ''diversity is inviting someone to a party. Inclusion is asking them to dance. ''

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Graziela Simone Tonin, Dra.

Associate Dean of Computer Engineering | Conselho Consultivo | Professora e Advisor nas áreas de: Inova??o | Tecnologia como Ferramenta Estratégica | Metodologias ágeis | Empreendedorismo
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Adicionalmente é preciso envolver as lideran?as nesse processo de entendimento de gaps internos, como por exemplo, come?ando com um letramento para o tema, para que os mesmosse sensibilizem com o tema, entendam os dados coletados e seu real impacto no negócio.

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Abdelrhman soliman

Senior Investment Analyst @ Multiples|Startups Investment Mentor | expertise in Tech Startup Valuation, VC, Startup Consulting, Fundraising, Data Room, CFA LII Candidate
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To create a culture of inclusion: 1. Implement diversity training for all employees. 2. Foster open communication and active listening. 3. Encourage diverse perspectives in decision-making. 4. Create affinity groups for support. 5. Review policies to ensure fairness. 6. Recognize and celebrate diversity regularly.

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2 Define your vision and goals

The next step is to define your vision and goals for diversity and inclusion in your company. You should align your vision and goals with your core values, mission, and strategy. You should also make them specific, measurable, achievable, relevant, and time-bound. For example, you could set a goal to increase the representation of women and people of color in your leadership team by 20% in the next two years. You should communicate your vision and goals clearly and consistently to your employees, partners, and stakeholders.

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Graziela Simone Tonin, Dra.

Associate Dean of Computer Engineering | Conselho Consultivo | Professora e Advisor nas áreas de: Inova??o | Tecnologia como Ferramenta Estratégica | Metodologias ágeis | Empreendedorismo
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é importante também identificar embaixadores do tema e definir papéis e responsabilidades para alcan?ar essas metas. Ter um time focado e sendo remunerado para a implementa??o de tal estratégia é crucial. E demonstra o comprometimento da empresa com o tema.

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3 Implement inclusive policies and practices

The third step is to implement inclusive policies and practices that support your vision and goals. You should review and update your policies and practices to ensure that they are fair, transparent, and consistent. You should also provide training and resources to your employees on topics such as unconscious bias, cultural competence, and allyship. You should also create opportunities for your employees to learn from each other, collaborate across differences, and celebrate diversity.

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Graziela Simone Tonin, Dra.

Associate Dean of Computer Engineering | Conselho Consultivo | Professora e Advisor nas áreas de: Inova??o | Tecnologia como Ferramenta Estratégica | Metodologias ágeis | Empreendedorismo
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Ter canais de escutas interno e externo para que as pessoas se sintam confortáveis e tenham confian?a para discutir o tema e apontar possíveis desafios que enfrentam diariamente sobre o tema. Além disso, a política a ser implementada, precisa ser divulgada, amplamente discutida e rigorosamente seguida pelas lideran?as. As vezes o auxílio de uma consultoria interna, contribui para agilizar o resultado.

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4 Monitor and evaluate your progress

The fourth step is to monitor and evaluate your progress towards your vision and goals. You should track and measure your key indicators and outcomes, such as employee engagement, retention, satisfaction, and performance. You should also solicit feedback and input from your employees, partners, and stakeholders on a regular basis. You should use the data and feedback to assess your impact, identify challenges, and adjust your strategies as needed.

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5 Recognize and reward your achievements

The fifth step is to recognize and reward your achievements in diversity and inclusion. You should celebrate your successes and milestones, both big and small. You should also acknowledge and appreciate the efforts and contributions of your employees, partners, and stakeholders. You should also share your stories and best practices with your peers and industry. This will help you build trust, loyalty, and reputation in your company culture.

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6 Keep learning and improving

The sixth and final step is to keep learning and improving your diversity and inclusion practices. You should stay updated on the latest trends, research, and best practices in the field. You should also seek feedback and advice from experts, mentors, and peers. You should also embrace challenges and failures as opportunities to learn and grow. You should also be open to new ideas, perspectives, and experiences. By doing so, you will create a culture of inclusion that works for everyone.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Miguel M.

Managing Director at Latam Capital | Hiring for our portfolio startups | Forbes 30 U 30 VC
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Most firms are small. It is impossible for every firm to have a representative composition. It does not immediately mean you have a DEI problem. Diversity is hard to solve. But the start is easy - just don't be a d*ck.

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Graziela Simone Tonin, Dra.

Associate Dean of Computer Engineering | Conselho Consultivo | Professora e Advisor nas áreas de: Inova??o | Tecnologia como Ferramenta Estratégica | Metodologias ágeis | Empreendedorismo
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No longo prazo, esta a??es precisam ser implementadas na cultura da empresa. Onde todos estejam atentos e sensibilizados com o tema. Para isso, desde o processo de onboarding, é preciso já treinar as pessoas e deixar claro o qu?o importante é para todos, ter aderência a valores como esses.

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Your company has a diversity problem. How can you create a culture of inclusion that works for everyone?

1

2

3

4

5

6

7

1 Assess your current situation

2 Define your vision and goals

3 Implement inclusive policies and practices

4 Monitor and evaluate your progress

5 Recognize and reward your achievements

6 Keep learning and improving

7 Here’s what else to consider

Venture Capital

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Your company has a diversity problem. How can you create a culture of inclusion that works for everyone?

1

2

3

4

5

6

7

1 Assess your current situation

2 Define your vision and goals

3 Implement inclusive policies and practices

4 Monitor and evaluate your progress

5 Recognize and reward your achievements

6 Keep learning and improving

7 Here’s what else to consider

Venture Capital

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