Embracing Equity: Why Sustainable Impact Needs DEI

This week, we celebrated International Women’s Day 2023 with a call to #EmbraceEquity.??

Do we view this occasion as tokenism and diversity washing; or an opportunity to reflect, recognise, and recalibrate??

I chose the latter as I attended a mix of internal and industry events - an aptly-timed inaugural C&W Connection Global Town Hall, our WIN (Women's Integrated Network, an ERG - Employee Resource Group) IWD watch party, an internal performance coaching session on 'Setting Better Goals', and APREA's Leadership Forum on Embracing Equity in the Real Assets Industry.

It begins with awareness and empathy. I learned the distinction between equality and equity, two terms I had previously used interchangeably but which have very different meanings. Equality is the concept of treating everyone the same, while equity is the concept of treating everyone fairly based on their individual needs and circumstances.

In order for businesses to foster sustainable growth and innovation, both equality and equity must be present in the workplace. Diversity, inclusion, and psychological safety are key components needed to ensure potential is maximised and creativity can flourish. Equity helps create a sense of belonging for employees, which allows them to feel safe enough to take risks, and use their voice to drive action and results.

I recall with vivid discomfort painful moments in my early career: having to return to Asia as I was unsuccessful in securing a work visa to stay on in the US after graduating; feeling out of place back in Singapore and the pressure to conform to fit in. Or knowing I had plateaued in a company not because of my performance, but because of favouritism.

It was consoling to hear that I wasn't the only one having had those experiences. However, they connect to larger issues of systemic barriers and biases that prevent individuals from achieving their full potential.

I'm so relieved much of that is different now. It means being able to bring my whole, authentic self to work; having a conducive workplace environment for productivity, having a boss who is a sponsor, mentor and ally; being empowered to execute a strategy and add value with my own creative touch, and having engaged colleagues to collaborate with.

With these foundational elements of DEI (Diversity, Equity, and Inclusion) in place having fulfilled physiological needs and safety needs, only then can we as individuals move on to the higher needs of belonging and esteem, and finally rise to add value where it counts - self-actualisation by aligning with our organisational goals of high performance, growth and creating impact.

I've captured some of the ways I see DEI and ESG correlating with Maslow's Hierarchy of Needs, by no means exhaustive:

I'm proud to know that Cushman & Wakefield has differentiated itself by addressing each of the elements above seriously. In a male-dominated industry, women make up 40% of our global workforce and 40% of board directors. I get to have my voice heard in curating programs as part of the WIN ERG committee, and it's a win-win with additional touchpoints to bond with my colleagues and make a difference. On a side note, watch this space for a WIN x Industry Partnerships event coming soon on 13th April shining a light on the topic of Gender Equality x Intersectionality...(DM me for more info!)

I came away from this week with a more nuanced understanding of how DEI is essential for sustainable growth. However, it is not enough to simply have DEI policies in place. We must also consider the potential of ESG (Environmental, Social, and Governance) when it comes to creating meaningful and sustainable impact. By combining DEI and ESG initiatives (especially the S), organisations can create a workplace that is both equitable and socially responsible.

By doing so, it can create an upward spiral of meeting personal needs and well-being, drive the fulfilment of the organisation's purpose, and extend to creating positive change at the community and global level while also ensuring long-term sustainability. Through this interconnection between DEI and ESG initiatives, companies can differentiate themselves and create a truly sustainable impact in all aspects of their business operations.

In conclusion, if it has to be, it begins with me. Embracing Equity is a call for leadership in each of us, to step up progressively and uphold DEI in creating sustainable impact.

What does Embracing Equity mean to you? Let's keep the spirit of open communication, open minds, and open hearts alive with the continued sharing and exchange of ideas and perspectives. I'd love to hear from you.