ELLEN STEELE KAPOOR
DIRECTOR OF DIVERSITY& INCLUSION ITW FOOD EQUIPMENT GROUP
we believe, are better able to win top talent and improve their customer orientation, employee satisfaction, and decision making, and all that leads to a virtuous cycle of increasing returns,” McKinsey wrote. Those results are only likely to become more pronounced as the makeup of customers becomes increasingly diverse. This is especially true for companies serving the restaurant industry, which has traditionally been among the most diversifi ed sectors of the economy. According to the National Restaurant Association, 47 percent of industry employees are minorities compared to 36 percent in the larger economy, and 40 percent of restaurant owners and 40 percent of managers and supervisors – the groups most likely to make purchasing decisions – are minorities. Having a diverse sales team can give distributors an edge when competing for restaurant operators’ business. A Harvard Business Review study found that when at least one member of a team shares a client’s ethnicity, the entire team is 152 percent likelier to understand that client than a competing team. Embracing diversity also has a direct result on how effective employees are within
their organizations. A 2017 Salesforce survey of more than 1,500 professionals found that 73 percent said they were empowered to perform their best work when they feel they belong, are heard and are able to be their authentic selves at work.
Businesses that embrace diversity and value the contributions and perspectives of different employee groups also tend to have a more positive company culture. Employees who trust they and their colleagues will be treated fairly regardless of race, gender, sexual orientation or age are 9.8 times more likely to look forward to going to work, according to Great Place to Work, a consulting fi rm specializing on workplace culture. They are also 5.4 times more likely to want to stay a long time at their company – a fi gure that is especially notable at a time when people are leaving their jobs for other opportunities at a faster rate than ever before.
The benefi ts can be found across
the board. As noted in a Deloitte study of global mobility leaders and professionals, companies with inclusive cultures have 22 percent lower turnover rates, 22 percent greater productivity, 27 percent higher profi tability, and 39 percent higher customer satisfaction.
“Diversity and inclusion today is no longer about just ‘checking the box’ or ‘doing good,’” the professional services fi rm wrote. “It’s about driving strong business performance and results.”
Although the value to the bottom line is clear, many businesses are still struggling to make diversity and inclusion a meaningful part of their company culture. A Deloitte study of global mobility leaders and professionals found that only one in fi ve reported having a strong understanding of and alignment with their enterprise D&I strategy and priorities. What’s more, only one in 10 said they participated in D&I discussions and planning. A formal diversity and inclusion
program is needed to truly cement those values into a company. This is why FEDA members such as ITW have spent years building on those concepts. ITW introduced its D&I strategy in 2013 with the goal of making its leadership look more like the communities where its employees live and work. Since then, the company has continued to fi nd ways to grow a diverse workforce and provide more economic opportunities for a wider range of people. In 2020, it
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