01.17.25
The ROI of DEI: Workplace Inclusion Drives Innovation and Growth
Guest Post by Whitney Harvey, Senior Director of Workforce Diversity and Inclusion, Minnesota Chamber Foundation
Whitney Harvey, Senior Director of Workforce Diversity and Inclusion for the Minnesota Chamber Foundation, speaks at the Fargo Moorhead West Fargo Chamber's Workforce Forum on Nov. 21, 2024.
In today’s constantly evolving business landscape, the return on investment of diversity, equity and inclusion – or ROI of DEI – has proven to be a game-changer. Workplace inclusion is no longer a "nice-to-have" but a critical driver of innovation, employee engagement, retention and financial performance. Organizations prioritizing DEI are reaping measurable benefits, from unlocking workforce potential to boosting bottom-line results.
Ready to see the difference inclusion can make? Keep reading.
Engaging Workforce: DEI Provides ROI
As labor force participation projections remain essentially flat and worker shortages remain a pressing challenge for many businesses, engaging underrepresented talent has become vital. Businesses that identify and eliminate barriers to employment – such as language, transportation, child care or education – are expanding their potential workforce and realizing the ROI of DEI.
Workplace inclusion practices like offering on-site English lessons, launching apprenticeships or providing transportation solutions enable candidates who face systemic barriers to contribute meaningfully. By taking steps to engage these individuals, businesses tap into a broader talent pool, foster loyalty and strengthen their teams.
Want to implement these changes? The FMWF Chamber's Inclusion Insights training provides guidance to help your organization make a difference.
Driving Innovation: Inclusion Fuels Creativity
So, what is the connection between innovation and the ROI of DEI? Diverse teams in inclusive environments excel at problem-solving and creativity. Employees with varied experiences and perspectives bring new ideas, uncover solutions and push organizations to excel.
Diverse teams that prioritize inclusive environments drive organizational innovation. Also, businesses with inclusive workforces are better positioned to connect with diverse customer bases, offering products and services that resonate across communities. Companies embracing DEI create a competitive advantage that not only sparks innovation but also drives growth.
Learn how to foster innovation through workplace inclusion with the FMWF Chamber's Inclusion Insights training.
Employee Retention: The DEI Advantage
Inclusion drives loyalty. Employees who feel valued for their differences—whether in thoughts, traditions or experiences—are more engaged and less likely to leave. Creating an inclusive culture where employees bring their authentic selves to work reduces costly turnover and fosters long-term commitment.
Studies show that inclusive workplaces experience higher employee satisfaction, which translates to stronger teams and better outcomes. The ROI of DEI goes beyond engagement and builds a workplace culture where employees thrive.
Discover how to retain your top talent by joining Inclusion Insights training.
Financial Success: The Measurable ROI of DEI
The numbers speak for themselves: organizations prioritizing diversity and inclusion see tangible financial benefits. The 2023 report, “Why diversity matters even more: The case for holistic impact,” by McKinsey and Company, explores the impact of organizational diversity on communities, workforces and business culture. The study shows that organizations with diversity of leadership (both gender and ethnic, individually and combined) financially outperform their peers.
Yet, the ROI of DEI is about more than just making profits—it’s about creating a workplace that benefits employees, customers and the community. By embedding inclusion into every part of their culture, organizations unlock sustainable growth and long-term resilience.
So What Now? Start Transforming Your Workplace Today.
The ROI of DEI is undeniable. From engaging untapped talent to fostering innovation, retaining employees and achieving financial success, the benefits of inclusion are far-reaching.
Take the first step in embedding DEI into your strategy by joining the FMWF Chamber’s Inclusion Insights training, launching Wednesday, Jan. 22. As your facilitator, I’ll provide strategies and practical tools to help you implement inclusive practices that deliver measurable growth and lasting impact.
When everyone has a seat at the table, businesses thrive. Unlock the ROI of DEI and start building a more inclusive, innovative and successful organization today.