PwC shares 10 'important lessons learned' on diversity and inclusion in new report
As part of their third annualGlobal Diversity Week,PwC launched a new report on Tuesday examining the firm's diversity and inclusion initiatives. TitledThe PwC Diversity Journey: Creating Impact, Achieving Results, the report covers PwC's efforts and statistics in building a more diverse workforce.
"Embracing diversity and inclusion makes business sense and more importantly is the right thing to do," writes Bob Moritz, chairman of PwC International, in the report. "By sharing our thoughts, ideas, and programmes, we are hoping that we can contribute to a broader discussion, one from which we can all learn and benefit together, as we work collectively to make an impact around the world."
The report concludes with ten "important lessons learned" by the firm on diversity and inclusion ("D&I"). "Our hope is that other organisations can also learn from these perspectives, so they too can benefit from our own diversity journey and experiences," the report adds.
The ten lessons, with key quotes from the report, are as follows:
1) Tailor the business case, then make it resonate- "What will motivate one leader to sponsor and act – business results, for example – may be very different from what will compel another, such as diversity being the right thing to do."
2) Recognize there is no 'quick fix'- "Demonstrable and sustainable progress can only be achieved through a comprehensive change management approach that tackles behavioral, process and cultural transformation."
3) No leadership commitment, no accountability, no progress- "Without the right levels of leadership commitment...it will prove very challenging to move the needle on diversity in a sustainable way."
4)Use data analytics in planning the program… - "Transitioning from a leading practice-driven approach to a data-driven approach is fundamental in creating a D&I [program] that tackles the actual rather than assumed barriers to diversity."
5) …and use data analytics in executing the program - "To make visible, credible headway, organisations must stay focused on and be confident that they are driving critical interventions that work."
6) One size does not fit all cultures - "The D&I strategy must take account of the nuances and variances that exist in business cultures across the globe. And diversity [programs] will need to be driven with allowances for local context..."
7) Embed D&I within organizational DNA - "D&I must be embedded within the DNA of an organisation, identified as fundamental to its success and naturally woven into the fabric of its business, customer and workforce strategies. This is not easy, and certainly won’t happen overnight."
8) A focus on inclusion from Day 1 - "Broad and sustainable progress across the organisation will only be achieved by combining a laser focus on leadership diversity with substantive action that drives an inclusive talent culture and talent systems from day one and from the ground up."
9) Recognize performance over presence - "An organisational culture that recognises impact and performance over presence and identifies flexibility as a talent-wide proposition is an organisation where all talented people can thrive."
10 ) Engage the masses - "A D&I strategy needs to be inclusive of everyone. So organisations should engage every one of their people in their diversity journey, empower all of them to be agents for change, and share progress with them at every step along the way."
For the fullDiversity Journeyreport, head to PwC's site here.