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News » DEI initiatives boost productivity and retention, experts say

DEI initiatives boost productivity and retention, experts say

ONTARIO, CANADA — Diversity, equity, and inclusion (DEI) initiatives are proving to be powerful tools for increasing productivity and retaining talent in the workplace, according to experts at the Diversity Network’s Inclusion Festival

A panel discussion moderated by Wendy Cukier, founder and academic director of the Diversity Institute, highlighted the importance of advancing skills and recognizing employees’ contributions to DEI efforts.

Panelists included Aggninder Dhillon, international head of reward and wellbeing at Twinings; Luisa Monteiro Furlan, director of culture and engagement at Jellyfish; and Ruth Barnes, DEI senior manager for global projects at Hogan Lovells.

Rewarding DEI efforts

Panelists shared innovative approaches to rewarding and recognizing DEI initiatives. 

Barnes from Hogan Lovells described their Highlight Awards program, which celebrates staff contributions to DEI. 

“Recognition is provided to all staff with everybody’s name, their photograph, a detailed description of what they’ve done, so that we can celebrate each other. A thank you from our CEO is also provided,” Barnes explained.

Meanwhile, Cukier emphasized the need for organizations to integrate DEI into their core strategies, particularly for those who often take on unpaid labor, such as women.

“Recognizing and rewarding employees’ DEI initiatives should be baked into corporate strategy, institutionalized and seen as part of an organization’s core business,” she said. 

Integrating DEI into company culture

In 2021, Hogan Lovells introduced a billable hour credit for DEI activities. 

“Employees can port up to 50 hours of DEI activity, such as time spent on mentoring and sponsorship, leading affinity groups, and attending interviews as a diverse representative, which counts towards their billable hours,” Barnes said. 

This approach incentivizes DEI participation without disproportionately affecting diverse colleagues.

Furlan discussed Jellyfish’s approach to DEI in performance evaluations. 

“Our DEI practices and aspirations are deeply rooted in our corporate culture and values. We tie progression in our environment to the impact on culture as well,” she said. 

Jellyfish encourages employees to actively contribute to cultural change rather than being passive participants.

Dhillon also shared Twinings’ efforts to foster a supportive company culture through their coaching academy.

DEI’s impact on talent attraction and retention

The panel agreed that a strong DEI culture is crucial for attracting and retaining talent, especially among younger generations. 

Dhillon noted, “If you’re looking for this young talent coming through your company, you need to make the inclusion part as important as the diversity part is.”

Barnes added, “They ask us what our values are. They ask us what we stand for on the DEI front, on the responsible business front, how they can give their time to pro bono. They want more than just a career.”

The discussion was held in the wake of a new hiring principle called MEI, which stands for merit, excellence, and intelligence. This principle has stirred controversy in the business world, challenging traditional DEI strategies. 

Introduced by Alexandr Wang, CEO of tech startup Scale AI, MEI focuses on hiring “only the best person for the job” without regard to demographic factors.

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