Growing businesses are only as strong as their team building them. Chicago startups are rapidly embracing the fundamental truth that having diverse voices at every level of their organizations is a surefire way to develop innovative solutions and sound business strategies.
But while business leaders recognize the importance of diversity and innovation, many struggle to make these values a reality at their companies.
What are Diversity and Innovation (and what's the difference between them)?
Before we dive into the core reasons why Chicago startups are embracing diversity and inclusion and what their actionable strategies look like, let's take a moment to get our terminology straight.
Diversity means exactly what you would expect: how diverse your workforce is in terms of gender, race, sexuality, and more. It is the precondition for inclusion as it defines what voices are available in your organization.
Inclusion measures whether or not those voices are being heard and are coming from people in positions of power at your company. Diversity creates the potential for fair employment and innovation, inclusion makes that potential into reality.
Why Diversity and Inclusion Are Vital to the Chicago Startup Community
Chicago's startups are leading the nation in many ways. Among these is a focus on Diversity and Inclusion. We know that the more perspectives we bring to tackle our business challenges, the more successful we will be.
And there is significant evidence supporting the importance of D&I for the success of our startups. Studies show a direct correlation between racial and gender diversity and both profitability and value creation.
A diverse and inclusive employer is more appealing to talent of all demographics and tends to make for a more engaging and productive workplace. For Chicago startups trying to win the war for talent and compete against more established companies with deeper pockets, fostering diversity and inclusion isn't just morally right: it makes good business sense.
What Can You Do to Foster D&I At Your Organization?
The key to a successful D&I strategy is to fully embrace the principles of diversity and inclusion and make them an essential part of every part of your business. You should create every process, procedure, and HR policy with D&I in mind. And diversity and inclusion must be at the heart of your benefits strategy.
Effective approaches to diversity and inclusion are built from the ground up. That means that the most successful Chicago startups are integrating these values into the big picture of their organizations: their mission/vision, company culture, business strategy and goals, and leadership styles.
In terms of practical HR concerns, diversity is largely defined by your hiring procedures and your ability to attract and retain diverse talent. Inclusion depends on the opportunities for advancement, professional development, and meaningful contribution that you provide to your employees of all backgrounds.
Hands-On Opportunities to Learn Actionable D&I Strategies
Diversity and inclusion are extremely complex and important topics, and this article just scratches the surface. Luckily, you have two opportunities this October to hear from experts and learn more about how to empower your business by leveraging high-impact D&I tactics.
Live Webinar
If you’re a business leader looking to learn more about how to embrace diversity and inclusion to build a strong, diverse team, you should consider attending the upcoming webinar “Everything You Wanted to Know About Workplace Diversity & Inclusion But Were Too Afraid to Ask”
The free webinar will cover a variety of crucial diversity & inclusion-related topics, including:
- How to foster a diverse and inclusive company culture
- How to build diverse and inclusive HR policies and practices
- How to ensure compliance with federal and state diversity requirements
- How to create diverse and inclusive employee benefits packages
The session will focus on maximizing actionable takeaways to help attendees increase their awareness of current and emerging best practices, understand their legal imperatives, and grow as diversity and inclusion-minded leaders. If you’re interested in learning the true power, potential, and responsibility of valuing diversity inclusion, be sure to save your seat at the webinar today.
Diversity & Inclusion Summit at TechNexus
This October Launchways is bringing together a panel of Human Resources and Employee Benefits Experts to present actionable strategies growing companies can leverage to address all aspects of Diversity & Inclusion at their businesses.
Business leaders are welcome to join us at the 2019 Diversity & Inclusion Summit for a complimentary dinner and open bar followed by an informative D&I panel presentation with a live Question & Answer session. The event agenda includes:
5:00-5:30pm Complimentary Dinner and Open Bar with Networking
5:30-6:30pm Expert Panel Presentation with Live Q&A Session
6:30-7:30pm Complimentary Cocktail Hour with Networking
This free event is slated to be the most impactful D&I event of 2019, and tickets are going fast. Seating is extremely limited, so reserve your free ticket to the D&I Summit today.
