DIVERSITY AND INCLUSION: Southeast Asian employees are now, more than ever, expressing a willingness to leave their current employer if baseline diversity and inclusion criteria aren’t met.
Fifty-seven (57) percent of all respondents to a Boston Consulting Group survey, of which 90% were from underrepresented groups, said they would consider leaving their job for a more inclusive organisation. This should ring alarm bells for leadership teams, with the researchers estimating that replacing those workers could cost businesses up to USD 30 billion per year.
And it’s not just that significant potential bill that has organisations in a spin. For employees who stay, the absence of diversity and inclusion policies can bring in negative effects such as lower morale, and reduced productivity, across the workforce.
But despite the clear benefits of having diversity and inclusion, companies all over the world face difficulties in implementing effective strategies.
One major issue is that many companies believe they’re already promoting a diverse and inclusive culture. However, a 2020 Gartner study suggests otherwise, with only 40% of employees agreeing that their managers fostered such an inclusive environment.
Read the full report here.