25 Key Workplace Diversity Statistics (2022) | exude (2023)

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Jenna Conroy/ May 30, 2022May 30, 2022

Diversity and inclusion in the workplace are two of the most important factors for hiring managers and HR departments today.

Many companies promote an inclusive environment that provides equal rights and opportunities for all workers, regardless of gender, age, sexual orientation or ethnicity. A diverse workforce recognizes the skills and differences that each team member brings to the organization and delivers significant social and cultural impact.

Here are 25 updated statistics on diversity in the workplace to better understand and help you understand the importance of diversity in the workplace.Create a more inclusive work environment.

1. Companies ranked as more diversified are 35% more likely to outperform their competitors

Given the advances in technology over the past few decades, it's no surprise that we now live in a more connected and globalized world. With deeper connections and relationships between people of all backgrounds, we are now seeing many benefits of diversity in the workplace.

While correlation does not equal causation, it appears that when companies choose to engage in diverse leadership, they do so.tend to be more successfuland have a competitive advantage. When companies accept candidates from diverse backgrounds, they have a better chance of finding and retaining top talent.

2. Diverse management teams generate 19% more revenue

Recent research shows a promising correlation between diversity and greater gains from workplace innovation. Companies reporting above-average leadership diversity demonstrated higher earnings before interest and tax (EBIT), with gains derived only from small changes in the composition of their leadership team.experience 45% revenue growthcompared to those with below-average leadership diversity of just 26%.

These correlations pave the way for a more innovative organization for business leaders. People with different backgrounds and skills will look at problems from different perspectives and come up with new solutions. These perspectives increase the chances of developing successful solutions. Diverse workforces mean companies are more adaptable and prepared for the ever-changing business world.

3.8.1% of Fortune 500 companies have female CEOs

Fortune 500 companies are among the nation's largest companies, and the list has long been considered a microcosm of US business as a whole. In 2021, the number of womenLeading Fortune 500 Companieswas 41 or just 8.1%. Now, for the first time, two Black women are leading Fortune 500 companies, while another executive is making history by leading one of the highest-ranking companies ever owned by a woman.

These three milestones reflect a shift toward diverse businesses and leaders across the United States. While there is still a long way to go, they provide a glimpse of the future as the country begins to recognize the importance of diversity in the workplace.

4. Women are more likely to be hired through blind applications

A study conducted by Harvard University and Princeton University found that when both men and women submit anonymous applications or auditions, women's chances of getting the job increase. Women were also in the same condition.more chances of being hiredlike men.

Another study shows that men are more likely to be hiredregardless of the gender of the hiring manager🇧🇷 This indicates that women can be biased towards other women and underscores the need for hiring practices that avoid gender bias.

5. Gender-diverse companies generate up to 41% more revenue

When companies go through a fair hiring process to keep both men and women on the job, they do so.can generate additional income🇧🇷 Additionally, 43% of companies with diversified management have higher profits. This study also shows that the impact of hiring racially diverse employees is favorable for most organizations, with 35% of these employees being more likely to perform better and earn a higher return on investment (ROI).

6. 44% of Blacks and 61% of Hispanics suffered job and wage losses during the pandemic

The COVID-19 pandemic has brought all facets of life to a halt, especially employment. However, the impact of the pandemic is disproportionately affecting people of color. Recent findings show what nonwhite Americans are likemore likely to lose jobsduring the pandemic feared losing their jobs or canceling their study plans due to the pandemic.

7. GDP can increase by 26% through equal diversification of the workforce

Gross Domestic Product (GDP) is the money market value of a country's goods and services produced in a given period. Some research predicts that when women participate in the economy at the same rate as men, annual global GDP drops.could increase by $28 trillion, or 26%, by 2025.

The impact is almost as big as it is in the Chinese and American economies today, which means that shifts towards diversity in the workplace are having a significant impact on specific companies and the world.

8. More than 3 out of 4 jobseekers are looking for companies with a diverse workforce

An inclusive workplace can make all the difference for job seekers. Recent research shows that more than74% of job seekersRecognize diversity and inclusion as key factors when applying for a job. This means that during the interview or job interview, your candidates are likely to assess the diversity of your workforce.

9. 32% of employees would not apply for a job at a company that lacks diversity

A study shows that about a third of employees and job seekers do not apply for a job at a companywhere diversity is lacking🇧🇷 Being transparent about your company's engagement means disclosing your workforce demographics and informing employees of any gaps. By listening to your current employees and gathering input, you can strive to attract and retain diverse talent.

10. Millennials are more diverse than baby boomers

US Census data shows that about 50% of millennials are white, compared to 76% of baby boomers, and are nowmore millennials than baby boomers🇧🇷 In the face of changing demographics, hiring managers, HR teams and business leaders must adapt by creating a more inclusive workplace and employing people of all ages.

11. 74% of millennial workers believe that inclusion equals innovation

While many Americans believe in the importance of diversity in the workplace, younger generations seem to see it as a top priority. A Deloitte survey shows that nearly three out of four millennialscombine inclusion with innovationin their current companies.

Millennials are one of the most diverse generations today - second only to Gen Z - and most believe in a fair and equitable workplace that protects all employees, regardless of their background. As demographic changes continue and the world becomes more diverse, we will see these factors normalize even more.

12. 48% of Gen Z are racial or ethnic minorities

A Pew Research Center report shows that half of Gen Zers – born between the mid-1990s and mid-2010s – are not white. Like millennials, more and more Gen Zers are seeing thisWorkplaceDiversity and inclusion as a prerequisitewhen looking for a job.

The new generation finds it particularly important that companies embrace these changes and value diversity, equity and inclusion (DEI) programs to make a difference in the world. Whether it's sustainability, social impact or philanthropy, Gen Z finds it essential that companies integrate their values ​​into their cultures and missions.

13. Inclusive companies are 1.7 times more likely to innovate

As we mentioned earlier, inclusive companies with diverse businesses are more likely to innovate and come up with new and exciting ideas.1.7 times more likelyThese companies develop unconventional solutions while generating more ideas, some of which are more likely to become successful products and services in the market.

14. Including companies generates 2.3 times more cash flow per employee

When it comes to every employee,cash flow among workersit is 2.3 higher in inclusive organizations. Additionally, companies have gender-diverse leadership teams25% more chances to get better profitabilityjthan less heterogeneous teams.

15. Millennials are 83% more likely to engage in work at inclusive companies

If millennials see their workplaces as inclusive and diverse, then they arefeel more engagedAt work. This is important as they are companies with dedicated employeestend to outperform others.

While this is important for hiring managers, retaining current employees is also critical for HR managers – companies can appreciate higher employee retention rates when they genuinely believe in the company's culture and values.

16. Minorities will achieve majority status by 2044, and by 2030, one in five Americans will be age 65 or older

Historically underrepresented groups are expected to be responsiblemajority of the US populationby 2044. By 2030, one in five Americans will be age 65 or older. Workspaces can adapt to a changing environment by considering these statistics. Skills need to be passed down between older and younger generations, and companies need to integrate inclusion and diversity training into the workplace.

17. By 2065, the US population will not have an ethnic or racial majority

As the majority white population declines and minority demographics increase, there will no longer be a single ethnic or racial majority in the United States. The workforce will evolve to include people of diverse backgrounds and abilities as inclusion becomes part of the corporate culture.

18. Employee perceptions of your company's diversity efforts affect their satisfaction

According to the Workforce Happiness Index – an employee survey that measures pay, value, autonomy, promotion and purpose –Points are 12 points loweramong those who feel their companies are not doing enough for DEI.

To make diversity a priority, it's important to make it part of training and development initiatives so employees know how much your company values ​​diversity. Happier employees are more productive and stay at their jobs longer.

19. 76% of companies do not have diversity and inclusion goals

A recent study found that many companieshave no diversity or inclusion goals🇧🇷 While many companies see the value of a diverse workforce, it's easier to achieve a more inclusive work environment when you set goals and invest the time and effort to achieve them. This means respecting equal pay, valuing different opinions, facilitating open communication and promoting a culture of openness.

20.55% of people have experienced discrimination at work

Many Americans have or have experienced discrimination or harassment in the workplace based on age, race, gender or sexual orientation. What else80% of harassment incidents occur remotely, leaving many unsolved.

Managers and HR departments can implement diversity education and training programs to create a welcoming environment for employees. By taking each situation seriously, workplaces can work to become more inclusive, retaining talent and ensuring a healthy environment for all.

21.85% of employees are confident that their companies have adequate measures in place to prevent discrimination

Optimistically, a significant number of employees believe their company has appropriate measures in place to prevent discrimination and harassment. By asking for feedback and resolving interpersonal issues, leaders can ensure employees feel safe. You can also create a healthier workplace by talking frequently with employees about how and where to go to raise concerns.

22. Diverse organizations are 87% better at decision making

Research shows thatdiverse teams offer broader perspectivesand invite more information and discussions to the workspace. When employees from different backgrounds come together and their contribution is valued, companies can experience a more proactive and efficient organization.

23. Diverse workers are 70% more likely to enter new markets

In contrast to organizations that do not recruit from underrepresented groups, there are several areas of workconquer more marketsand beat the competition. An inclusive workplace invites people from all walks of life, supporting all educational backgrounds. This promotes greater productivity and business growth. It pays to invest in human resources and DEI for companies to retain employees and achieve long-term success.

24. 40% of employees believe their companies should improve gender diversity

Many employees believe in their jobsshould promote a more welcoming environmentfor the LGBTQIA+ community. This can include implementing educational programs and ensuring that all employees, regardless of their sexual orientation, feel included in the workplace. Encouragement and support can also help individuals feel welcome, boost morale, and increase employee productivity and satisfaction.

25. About 35% of HR leaders rank DEI among their top five priorities for 2022

Many HR leaders are thinking about diversity, equity and inclusion these days35% consider these topics essential🇧🇷 These leaders could address stagnant leadership development for women and minorities while setting specific goals for DEI and other workplace diversity initiatives.

Implement DEI initiatives in your organization with Exude, Inc.

Creating a more inclusive workplace is the right thing to do, and by acknowledging each other's differences, leaders can ensure a positive culture and thriving workplace.

If you don't know where to start or need tips on how to foster a more welcoming company culture, trust the consultants at Exude, Inc. Our experts have over 20 years of experience working with companies to increase their bottom line and help them grow at the same time.Diversity and inclusion initiatives.

To learn more about our approach,contact one of our consultantstoday!