Diversity, Equity and Inclusion: What It Really Means and Why It Matters for Your Business
Unless you have been living in a cave or traveling through time (If the latter is true, let me know how this all turns out please) you’ve probably heard the term DEI—Diversity, Equity, and Inclusion. But what does it really mean? And why should you care?
I covered this topic in late 2024 on my podcast, Beyond the Bottom Line, where we explored the real impact of DEI with Carolyn Lawrence, Founder and Principal at ClearPath and A Social Equity Expert. Check out the full episode here: Beyond the Bottom Line Podcast.
Breaking Down DEI: The Basics
DEI isn’t just about hiring a diverse workforce. It’s about making sure that everyone—employees, customers, and communities—has fair access, opportunities, and support to succeed.
Diversity means having different types of people in your company—different backgrounds, experiences, and perspectives.
Equity ensures that everyone has what they need to succeed, even if that means providing extra support to some groups.
Inclusion means making sure that people feel like they belong and their voices are heard.
Real-Life DEI in Action
You might not realize it, but DEI is all around us. It’s in things we take for granted every day:
Family Leave: Maternity and paternity leave allow parents to care for their children without risking their jobs.
Wheelchair Ramps & ADA Hotel Rooms: These ensure that people with mobility challenges can access spaces just like anyone else.
Curb Cuts on Sidewalks: Originally designed for wheelchair users, but also help parents with strollers, travelers with suitcases, and bikers.
Seat Belt Extenders on Planes: A small but crucial accommodation for passengers of all sizes.
Closed Captioning on TV & Videos: Initially created for the deaf and hard of hearing but also useful in noisy environments.
Hiring Practices That Prevent Age Discrimination: Many companies unknowingly exclude older workers by emphasizing “young, dynamic teams” in job descriptions. A DEI-focused hiring strategy ensures a more inclusive and diverse workplace.
Fair Hiring Practices: Structured interviews, diverse hiring panels, and unbiased job descriptions help companies attract and retain the best talent regardless of race, gender, age, or ability.
These are only a FEW examples that show how DEI benefits everyone, not just specific groups.
Why DEI Matters for Your Business
It’s simple—companies that prioritize DEI perform better: Its a documented FACT! Look it up!
Businesses with diverse teams are 2.5x more likely to outperform their competitors and produce higher profit.
Customers prefer to support companies that align with their values. 76% of consumers say they’d rather buy from socially responsible businesses.
Inclusive workplaces have higher employee engagement and retention, meaning less turnover and better morale.
Final Thought: DEI is Good Business
At the end of the day, DEI isn’t about politics or trends—it’s about people and smart business. It creates stronger teams, happier customers, better environments and long-term success.
Looking for expert advice? Connect with Carolyn Lawrence at clearpathtoimpact.com or try her AI strategy tool Pathfinder at clcoimpact.com/pathfinder-beta.
If you don’t agree, please drop a comment! Make sure to state loud and clear which part you don’t support and why. Is it the Diversity, The Equity or the Inclusion?