Enhancing employee well-being emerges as the primary impetus for Diversity, Equity, and Inclusion (DE&I) initiatives within Australian organisations, as per a survey conducted by the software behemoth Workday Inc. The findings reveal that 46% of Australian enterprises prioritise enhancing employee well-being as the driving force behind their DE&I programs, closely followed by the imperative to attract and cultivate a diverse workforce, standing at 43%.
The report by Workday further unveils that an overwhelming 97% of Australian respondents have implemented at least one DE&I initiative within their organisations. Moreover, a significant proportion of these firms, 72%, report tangible enhancements in fostering a sense of belonging and inclusivity, while 51% cite a concurrent improvement in profitability.
Jo-Anne Ruhl, the managing director and VP of Workday ANZ, remarked in a press release, “In recent years, DE&I has transitioned from being a ‘nice to have’ to a pivotal investment area for Australian businesses. Organisations in Australia are now demonstrating a level of maturity in their DE&I strategies, having established robust foundational frameworks.”
42% of business leaders advocate for the integration of DE&I metrics into core corporate performance indicators
Despite progress, there remains untapped potential to leverage technology-enabled solutions, such as AI tools, to monitor and advance DE&I endeavours, Ruhl suggested.
While 58% of Australian business leaders acknowledge strides in DE&I initiatives, only a mere 9% rate their performance as commendable. To propel DE&I efforts to the next echelon, 42% of business leaders advocate for the integration of DE&I metrics into core corporate performance indicators, 38% advocate for fostering a shared vision and comprehension of the business rationale behind DE&I, and 37% underscore the necessity for unwavering leadership commitment from the top echelons.
The global scope of the survey encompassed 2,600 business leaders from various countries, including Australia.
