What’s New: Five Success Factors of Impactful DEI Initiatives

“Diversity, equity, and inclusion (DEI) is at an inflection point: companies and institutions have demonstrated positive intent and increased discussion and activity, but data shows progress is slow.” In their Diversity, Equity and Inclusion Lighthouses 2023 Report, the McKinsey & Company, identified five success factors common across the DEI initiatives in their in that yield the most significant, scalable, quantifiable, and sustained impact underrepresented groups. 

The five success factors included:

• Identifying the specific DEI opportunities within the organization by analyzing relevant data, gaining a better understanding of the challenges from the perspective of those most affected and prioritizing the opportunities. 

• Articulating a definition of success by setting clear, measurable, and short- and long-term goals

• Ensuring that organizational leaders understand the importance of DEI and that they will be held accountable for outcomes.

• Designing outcomes that respond to the identified DEI priorities that are effective and sustainable.

• Measuring progress and capacity of solutions to achieve the specified outcomes.

This report will be of interested to the inclusive business and organizational leaders.

To read the Diversity, Equity and Inclusion Lighthouses 2023 Report, click here.