The relationship between diversity, equity and inclusion in the workplace

The Wharton School, with support from Moody's Corporation and DiversityInc, published a new study, "Improving Workplace Culture Through Evidence-Based Diversity, Equity and Inclusion Practices," examining the relationship between diversity, equity and inclusion (DEI) practices and a variety of workplace outcomes. The study reveals key findings and provides recommendations for managerial DEI actions designed to improve workplace culture.

Stephanie Creary, assistant professor of management at Wharton and the project's lead researcher said: "Recently, calls to understand 'what works' in relation to DEI practices have amplified in both academia and industry. Our study takes a large step towards answering this question. We are excited that we have been able to produce this report in partnership with industry DEI experts, Moody's and DiversityInc. We hope that our collaborative approach will spark more academic-industry partnerships in the future."

The study seeks to understand how U.S. companies are defining five key concepts (diversity, inclusion, belonging, equity and respect), implementing practices related to those concepts and measuring whether those practices are effective. Results show that new concepts in the U.S. often emerge in accordance with prominent social movements and highly publicized workplace challenges. Findings also reveal a range of demographic differences across the study's key concepts, which include:

• People of color report greater access to DEI practices than white employees. In many cases, Black employees feel that they have greater access to DEI practices than all other racial groups.
• People of color and women more strongly agree that they engage in "speaking up" behavior at work (e.g. speaking out against bias or promoting DEI in hiring processes and practices). However, white women more strongly agree that they engage in helping behavior at work relative to women of color.
• People of color, particularly Black employees, report greater turnover intent relative to white employees.

DK Bartley, chief diversity officer, Moody's Corporation states: "Moody's understands the value of credible insights because data is what we do. Evidence-based research is especially relevant as companies look to shift their approach to DEI during a time of heightened awareness on gender, racial and social inequities. We're proud to support the study and to share findings and recommendations that are instrumental to helping managers and companies advance their DEI efforts."

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