The growing need for DE&I in the manufacturing workforce

Diversity, equity and inclusion (DE&I) initiatives play a vital role in the modern workforce. The importance of them cannot be overstated when it comes to driving performance and innovation for businesses.?

According to Deloitte’s analysis of DE&I programs and financial data of Fortune 500 manufacturing companies, businesses that champion a diverse workforce experience benefit from better organizational management and increased productivity. It’s through the help of DE&I that companies gain a competitive edge. Fortune 500 manufacturing companies, in particular, are more likely to perform better financially if they build inclusive environments that foster #diversity .?

Being a champion of DE&I in the manufacturing industry

In another study, Deloitte found that 63% of manufacturers connected DE&I advantages to the ability to attract, retain and develop talent. A majority of manufacturing companies have already implemented training programs dedicated to DE&I when it comes to talent management. However, it should be also noted that less than 25% of companies found such programs contributed to retaining talent. Training programs alone didn’t necessarily mean the best outcomes.?

That’s why it’s crucial to go beyond DE&I training. Doing would aid in the following:

• Overall management performance
• #Innovation progress
• The bottom line

One of the first steps is to set up the main values of one’s business to pave the way for a welcoming environment. Next, leaders within the #manufacturingindustry should take tangible actions toward a more effective DE&I culture. Broadening the approach to DE&I may require a pivot in current talent acquisition strategies in terms of the knowledge, abilities and skills of candidates. Expanding the breadth and depth of this pipeline can help in building diverse teams.?

Another way to champion a DE&I approach is by taking a closer look at the supply chain, external partnerships and product development areas. By examining these areas while thinking about the overall value chain as an organization, those in manufacturing can begin setting a standard for the industry as a whole.?

For leaders within the manufacturing industry themselves, they should dedicate time into educating themselves about DE&I. Doing so would assist in building a better understanding of it. Having conversations with professionals who are well-versed in DE&I programs is another step in the right direction.?

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