Is inclusive leadership a powerful catalyst for growth?

Is inclusive leadership a powerful catalyst for growth?

High-performing teams those that embrace the power of different opinions, perspectives and cultural references are a force to be reckoned with in the global marketplace. Canadian businesses are stepping up to centre stage and experiencing the power of inclusiveness that extends beyond discussions of race and gender, and helps deliver better business results.

Diversity is about differences It s the understanding that each of us is unique and brings our individual personalities and ideas to everything we do. Inclusiveness is about working with these differences to achieve better business results. The innovation that stems from diversity delivers a competitive edge. Some of the world s most successful entrepreneurs and market-leading organizations have recognized the value in embracing inclusiveness. They ve experienced the benefits that can be gained through leading a workplace and team culture that embraces innovative ideas from a variety of unique individuals. If you want to make inclusiveness an intrinsic part of your organization s culture embedded in the way everyone thinks and acts on a daily basis here are some practical tips to consider as you invest time, energy and resources in your corporate agenda. 1

Recruit, retain and promote diverse talent To develop an outstanding workforce, it s important to continually strengthen the diverse mix of your teams and leaders by removing barriers in your talent pipeline. 2 If you consistently recruit the strongest candidates from different backgrounds, experiences, skillsets and perspectives, you ll enrich the diversity of your organization. This is the true power of diversity of thought. To further encourage equitable development of your people, inclusive behaviours should be rewarded and play a key role in promotion decisions and leadership appointments.

Develop skills to lead inclusively It s important to equip your people with skills and confidence to lead and team inclusively, with a global mindset, to maximize everyone s contributions. Your people bring with them a wide range of perspectives and solutions to the issues you re facing in today s competitive business landscape. By maintaining ongoing vigilance to ensure diversity and inclusiveness principles are part of day-to-day decision-making, you can benefit from the ideas of your teams who represent the perspectives of the wider population. 3

Support an inclusive culture 4 Company culture plays a critical role in an organization s morale. If you embrace the notion of making each employee feel valued for who they are and by what they contribute regardless of their race, culture, lifestyle, gender or age teamwork and innovation will result. It s important to make it clear that a culture of diversity doesn t reflect a quota system, but rather a genuine effort to seek and build a workforce that supports your inclusiveness agenda. This can often be achieved through strategic investments in mentorship and coaching programs that can elevate the skillset of your diverse team. A diverse workforce can help your brand stand out in a positive way. If your workforce is reflective of the communities you serve, that diversity can strengthen your business and position you for growth and success.

Building a successful, profitable business is something that cannot be done alone. Learning from the experiences and talents of people from all backgrounds can help enrich diversity of thought and help you make sound decisions for your company. 5 We can help To learn more about how our Private Client Services professionals can help you develop an inclusiveness strategy that s tailored to meet the needs of your business, contact us at privatecompanyinfo@ca.ey.com. Visit us at ey.com/ca/private.

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