In today’s dynamic business landscape, diversity, equity, and inclusion (DEI) have become imperative for companies looking to compete and thrive. But how exactly does effective DEI strategy translate to better business performance? According to strategic advisor Janice Robinson Burns, the key lies in approaching DEI from a strategic business perspective rather than limiting it to a social issue.
Janice firmly believes that DEI, when implemented effectively, can help companies achieve outcomes they never expected. In her view, there are three critical elements necessary for businesses to successfully compete in the age of AI – having the right skilled talent, the ability to rapidly innovate, and maintaining an agile workforce. DEI can be the catalyst that makes those elements fall into place.
Competing for Specialized Skills in the AI Era
The rise of AI means companies require people with highly specialized skill sets to execute their business strategy. This includes individuals with diverse educational backgrounds, work experiences, and certifications who can leverage their unique abilities to drive outcomes.
As Janice succinctly puts it, “Diversity isn’t about what people look like. Diversity is actually about what people with unique abilities can do when they collaborate together to achieve a common business goal.”
With AI transforming how business gets done, the need for these specialized skills will only intensify. A strategic approach to DEI can help companies attract and retain talent with the diverse capabilities needed to harness AI and deploy it effectively.
Fueling Innovation Through Diverse Perspectives
Innovation is powered by bringing together different perspectives to solve problems in new ways. DEI helps assemble teams with varied viewpoints, thought processes, and approaches to design thinking.
Janice highlights that when you have people with diverse problem-solving methods and unique angles, it supercharges your ability to rapidly innovate. It also allows you to test and execute on innovations faster.
She advises that companies must ask themselves: “How can I innovate more quickly? Innovation comes from having people with different perspectives and different methods for solving problems.”
Leveraging DEI to build inclusive teams fosters out-of-the-box thinking, creative solutions, and ultimately faster innovation cycles.
Maintaining an Agile Workforce
The pace of change today demands that companies have agile workforces ready to pivot and redeploy as strategic needs evolve. This type of workforce thrives on feeling valued for their unique contributions.
Janice explains that diversity fosters this agility by cultivating talent that offers the best of their diverse skills and experiences. When people feel their differences are appreciated and that they matter, they more readily embrace shifting roles and projects.
Creating an equitable and inclusive culture is key, as Janice notes, “All they need to feel is that they are a part of the solution and that their contributions count.” With agility emerging as a top priority, a strong DEI strategy that engages talent can make all the difference.
Embracing DEI as a Business Imperative
Janice stresses that in light of AI, DEI has firmly moved from a “nice to have” based on social issues to an indispensable business imperative.
Companies that fail to tap into DEI will lag behind ones leveraging it for competitive advantage. Or as Janice puts it, “It’s no longer about what’s nice to do but it’s about what’s smart to do.”
Her advice for forward-thinking companies is to start seeing DEI as a vital strategy for survival and success rather than just a box to check. With the right approach, it can have transformative outcomes.
To learn more about Janice Robinson Burns and her approach, check out her website or LinkedIn profile.
