At M&IW, we strive to foster an inclusive culture. As a certified Women’s Business Enterprise, we celebrate and understand the importance of diversity, and our newly-renamed DEI-B team is committed to further strengthening our efforts. Previously called the DEI team, which stands for Diversity, Equity, and Inclusion, the B was added in 2022 to represent the end goal of DEI initiatives: Belonging.
Diversity, Equity, Inclusion, and Belonging are concepts that can be difficult to pin down, but a solid understanding is necessary for lasting, meaningful action. Here are the definitions currently used by our team:
Diversity: The appreciation and prioritization of people of different backgrounds and identities in a group.
Equity: The acknowledgement that different people may need different levels of support to achieve their goals and the act of intentionally providing that support.
Inclusion: The culture or environment that a workplace creates to allow diversity to thrive.
Belonging: The feeling of security within a group that stems from proactive efforts to include someone.
With these definitions in mind, the DEI-B team will lead M&IW in supporting and celebrating historically oppressed peoples including but not limited to Black, Brown, and AAPI people; the LGBTQ+ community; and people with disabilities. They also released a new mission statement created by Chief People Officer Jean Johnson:
M&IW’s Journey to World Class includes all classes. M&IW recognizes that to be world class means we must build a family with a variety of backgrounds, skills, and views that channel each unique perspective. Our Journey to World Class includes a culture of encouragement, support, empowerment, and inclusion of all, a place where we celebrate bringing your whole authentic self to work every day.
The Importance of DEI-B
DEI-B doesn’t only benefit individuals. Decades of research show that increased diversity in the workplace improves company culture, job satisfaction, and performance:
- Diverse companies have 2.5 times the cash flow per employee.1
- Diverse teams are better decision makers than individual decision makers.2
- 76% of job seekers, particularly Gen Z and Millennials, say that diversity is an important factor when researching potential employers.3
In short, when people feel that they are fully respected and accepted members of their workplace, they engage more fully and improve the organization overall.
DEI-B Initiatives at M&IW
So why DEI-B? Because it’s the right thing to do, it makes sense financially, and it’s what M&IW is already doing. Our culture has always been authentic and welcoming; the DEI-B team is just formalizing and actively supporting it by bringing it into the spotlight.
Honest conversation held in good faith is key to greater empathy and, thus, growth, so the team will be hosting small question and answer forums, showcasing world holidays and traditions, and encouraging the adoption of company culture changes that will foster diversity visibility. They also plan to create diversity and cultural sensitivity curricula for new hires and current employees alike. As an organization, we support the team and their efforts and look forward to working together for the betterment of all.
Digital Producer, Production & Technology, M&IW
DEI-B Team Member
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1 Global Industry Analytics, Inc., 2022
2 Boston Consulting Group, 2018
3 Glassdoor, 2020