While some might substitute diversity to ethnicity, race, or culture, these are some of its key aspects. According to DiversityInc (2021), a community is made up of individuals, each with a unique ability, background, beliefs, and life experiences. A combination of these differences is what is referred to as diversity. In the community, diversity increases creativity, productivity and improves performance by reducing fear. Today, many organizations strive to have a diverse workforce to increase innovation and boost brand reputation.
Eli Lilly and Company, for example, is an American pharmaceutical company that develops cardiovascular care, depression, and oncology medicines. Since its inception, the company has increased its performance and recognition by implementing diversity policies. According to the company, the Racial Justice Initiative policy was implemented to limit racial profiling and other injustices based on ethnicity (Lilly, 2020). Based on this policy, the company has invested in the black community to create more jobs and economic opportunities while driving social change. Other than joining forces with other major companies to train and hire Black Americans, Eli Lilly and Company has committed over $30 million to Unseen Capital Health Fund, a venture intended to support founders of healthcare companies.
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In support of diversity, DiversityInc. was founded to assess diversity management in corporations in America. As an independent non-profit organization, the company uses various factors to shortlist companies that they believe have achieved their recommended threshold. Among these factors are human capital diversity, leadership accountability, supplier diversity, philanthropy, workplace practices, and talent programs (DiversityInc, 2021). Through these factors, among others, Diversityinc. seeks to establish the effectiveness of these organizations in equally representing all races into their workforce. In their 2020 list, the top five companies included Accenture, ADP, Hilton, Marriot International, and Eli Lilly and Company. Therefore, all organizations should seek to improve diversity as it plays an important role in boosting creativity, productivity, and the eventual success of the company.
References
DiversityInc. (2021, May 10). About the DiversityInc Top 50 Process . DiversityInc. https://www.diversityinc.com/about-the-diversityinc-top-50-process/.
Lilly. (2020). Eli Lilly and Company . Empower A Diverse Workforce. https://www.lilly.com/impact/empowering-a-diverse-workforce.
