In a competitive labor market, it is a strategic imperative for employers to incorporate diversity, equity and inclusion (DEI) into talent and leadership strategies. This includes not only programs that support the diversity of talent preferences, but also what employees need to have equity in their careers, health and financial outcomes. Those employers who are not focused on equity run the risk of not attracting, retaining and engaging talent to move their businesses forward. But those that are able to use their pay, career and benefits strategies to demonstrably advance equity will have a distinct advantage as they compete for talent.
Despite the drive to progress DEI strategy, there is still much change needed to advance equitable outcomes. According to the 2022 Global Wealth Equity Index, women only accumulate 74% of the wealth of men at the end of their working careers, mostly due to gender pay gaps, delayed career trajectories, caregiving responsibilities and differences in financial literacy. Our 2022 Global Benefits Attitudes Survey also revealed that underrepresented employees, especially women and ethnic minorities, are less likely to report that they are paid fairly, experience psychological safety and have career advancement opportunities and support in the workplace.
For employers just getting started, or revising their DEI strategies, here are five actions to consider:







