Diversity & Inclusion

Nowadays Diversity and Inclusion are becoming an important subject for all Corporates.

Recently I came across the discussions with our ESG function on the Supplier Diversity part as a D&I aspect. Post which we had many more healthy debates amongst our team. Hence, I’m taking this topic to write as I’m involved in Supplier diversity as a part of my current profession.

Many of my friends in the Procurement Fraternity come across this topic on a routine basis however there are a lot of gaps in understanding about supplier diversity that they have to deal with. Though I’m not a D&I expert, I am trying to express my views about Diversity and Inclusion based on my understanding.

There are a lot of efforts being taken at the corporate level on this topic, be it diversity and inclusion at the employee level or diversity at the supplier level. One of the game-changing D&I moves in the recent past was the SEBI mandate to have at least one female director as a part of their board.

The definition of diversity and inclusion can be interpreted in many ways. Still, at its core, it is the understanding that everyone is unique and should be respected for their differences. This includes race, ethnicity, gender identity, sexual orientation, socioeconomic status, religion, age, and abilities.

We’re all different. Sometimes, these differences can lead to discrimination – either directly or indirectly or treated less favorably than their colleagues, also blatant harassment. Discrimination also includes things like everyday micro-aggressions.

A typical example of discrimination would be a woman missing out on promotion in favor of a man.

To help mitigate types of discrimination, the law protects several so-called 'characteristics' in many countries. For example, few of the Act protects:

• Age
• Disability
• Gender reassignment
• Marriage and civil partnership
• Pregnancy and maternity
• Religion or belief
• Sex

So, what’s the difference between diversity and inclusion? Diversity is recognizing the differences between employees, their identities, and their backgrounds.

Inclusion is wholeheartedly accepting, valuing, and embracing these differences and believing they’re a benefit to the business.

The key point here is that a diverse workplace isn’t necessarily an inclusive workplace - one doesn’t automatically follow the other. Just increasing the number of people from under-represented groups is not meaningful if those employees do not feel valued and respected within the Organization.

Why is diversity and inclusion important?

It’s clear that there’s a social and moral case for diversity and inclusion, as well as a business case. In a genuinely inclusive organization, people can work together effectively without fear or discomfort. And when organizations proactively accommodate different needs, everyone can thrive professionally.

Multiple organizations across the globe and India are making efforts to incorporate D&I. But the question arises - why should organizations do it? There are many reports available published by Forbes, McKinsey, Boston Consulting etc. stating the advantages of D&I policy boosting company growth.

I’ll not go into what advantages the company can get however I believe that it’s a social aspect where a diverse community who lives in this world and have equal human rights, should get an equal opportunity to live respectfully and grow in this society.

Because of their diverse status, they may not get fair treatment to live respectfully in this society with basic standard rights. So, it’s a social obligation every Organization should have to accommodate this diverse community in their day-to-day business affair. Further to state that it not only accommodates the diverse community but gives fair respectful treatment as every other non-diverse person gets in this society. Then it may be working in the Organization or business opportunity as if they have their own manufacturing or service firm, they should get an equal opportunity to get the business from all kinds of Organizations.

This is the simple meaning I have understood from D&I policy however there may be a few more commercial or profitable benefits to the Organization out of this policy.

Requesting readers to put their views about it.

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