The author of this article is Builder.ai (formally known as Engineer.ai) CEO, Sachin Dev Duggal discussing about the diverse and inclusive workplaces.
The average worker will spend approximately 90,000 hours of their life at their workplace. For some, it naturally promotes a sense of belonging to the company, constantly becoming a driving force to improve their performance.
However, over the last few years, establishments have begun to realize that not all employees can form deep relationships with their workplace due to many internal or external factors. However, one thing is certain, the topic of diversity and inclusion has become a central point of every discourse on workplace culture, and so companies are focusing on creating a proressive environment to enhance the intangible value offered to their employees.
We can launch a diversity revolution for issues such as gender inequality in allowing equal work and wage opportunities. Organizations are now intentionally fighting discrimination on the basis of age, disability, ethnicity, gender, gender identity and expression, religion, or sexual orientation.
Many studies conducted on diversity reveal a stark difference in firms' performances with and without gender diversity. A study by McKinsey conducted over several years showed that gender-diverse companies tend to outperform non-gender-diverse firms by 15 percent. Back in 2015, when Alibaba's Jack Ma was asked for the secret behind the success of his firm, he said: "Actually, I think one of our important secrets is that we have a lot of women." Back then, Alibaba had 52 percent of women employees, and many held senior leadership positions as well.
Today, the interesting thing is that the scope of diversity and diversity at the workplace has evolved beyond gender inequality, and many companies are trying to address the inherent biases that are sometimes difficult to detect.
Recently, Goldman Sachs announced its new policy that the bank would not support the IPO process of a firm lacking a woman or "diverse" director. Similarly, there have been many developments, and campaigns at the workplace are expanding the meaning of "diversity".