by Emily McDonnell

At a recent conference, I spoke with a tech conference veteran about the GENDEX project. When he asked what it was about, I eagerly began to explain. However, he stopped me with a blank, confused look on his face and asked, “Sorry, but what is ‘DEI’?” I paused and replied, “It stands for diversity, equity, and inclusion.” He nodded and then asked, “OK, but what does that actually mean in real terms?”

It was a wake-up call. Sometimes we are so immersed in our own bubble that we assume everyone is familiar with, or at least aware of, the topics that occupy our minds.

His question, “What does DEI actually mean in real terms?” is completely valid. Even among those active in the space or concerned with the topic, there isn’t always a shared definition or vision for the broad concept of diversity, equity, and inclusion.

This encounter highlighted the need for clear communication about DEI. It’s not just jargon but a fundamental modality that benefits employees and businesses alike. With this in mind, we reached out to our network to collaboratively ponder the question: what is DEI, and what should the vision for it be within an organisational context?

 

DEI benefits employees and thus businesses at large

Many working in the space have often had the feedback that DEI is yet another framework, which organisations need to consider on top of daily business that causes a slowdown of growth. However, Stephanie von Behr, Managing Director at Founderland, noted that DEI metrics are instead something essential for teams’ sense of belonging and appreciation, which ultimately leads to higher employee engagement. “DEI is a framework designed to celebrate individuals from diverse backgrounds,” Behr noted, “it ensures fair compensation, and fosters an environment where everyone feels welcomed, respected, supported, and valued.”

Alexandra Kammer, Co-Founder & Chief Diversity Officer at Aivy, shares a similar sentiment, adding that “DEI work’s vision should be to create (working) conditions that enable everyone to have the same opportunities of thriving in their job.”

Put more directly, Yolanda Rother, Co-Founder of The Impact Company, simply stated, “Do you want to future-proof your business? [The rollout of a] full-fledged vision of DEI grows a future-proof business”. And more bluntly still, a community member wishing to stay anonymous said “the goal [of DEI] is to improve and surpass your competition.”

Who would want to say no to that?!

 

DEI isn’t a one-size-fits-all solution: create your own goals

Rother continued by calling decision makers in organisations to take a step back and “understand how Diversity, Equity and Inclusion can best serve your business needs.”

The need for individualising company DEI goals is essential, as each business, product and team is unique, and simply downloading a generic DEI plan from the internet and trying to shoehorn it into your organisation is of course going to be painful and distract from your daily work. Rother recommended that “[by] identifying measures that work for you specifically, DEI can drastically up the competitiveness of your business, while benefiting your employees, as well as your customer base.”

 

Metrics are key to bringing your vision to life

KPIs and metrics are needed to ensure that goals are actively worked towards. Behr shared a few starting places for those who are unsure: “transparent salary structures, providing accessible opportunities, supporting Employee Resource Groups (ERGs), tracking DEI metrics, and holding leadership accountable for DEI goals.”

Kammer echoed the importance of collecting data: “It sheds light on respective hurdles different groups of people face, and [allows companies to implement] concrete intersectional measures to ensure its aim while also installing safe spaces.”

 

DEI work exists for a reason

“DEI is a topic that must be safeguarded in any organisation,” encouraged Bianca Ambrosini, Investor at BNVC, “from early-stage companies to public institutions or cross-organisation communities —now more than ever.”~ Bianca Ambrosini, Investor at BNVC.

When implemented correctly, DEI has the power to build better businesses, yes, but it does more than just that. Behr stated that “companies can build a genuinely inclusive and thriving workplace where every employee feels empowered and valued.” DEI has the power to make organisations more human, and given that organisations are made up of individual humans, this seems like quite an essential thing to do.

Plus the need for DEI work within organisations comes from a human place. It exists due to complex historical and societal contexts that have caused structural inequality, requiring us to readdress the balance in the workplace context. “[DEI] is a re-contextualization of [the topics of discrimination, inequality, and injustice] for the corporate space,” expressed our anonymous community member. “Sustainable execution of this concept with precision facilitates competitiveness, making it an advantageous instrument to organisations rather than a contentious point of debate about identity.”

While we haven’t been able to generate a single definition of diversity, equity and inclusion from our conversations, it is clear that this area of work is essential in terms of growing organisations, improving business results, and creating safer spaces that lead to more engaged employees.

Rolling out DEI measures might seem like another check box exercise, but it’s an exercise that you would be a fool to miss out on.

 

We need you!

GENDEX is being built in collaboration with IDC, BluSpecs, and Founderland, and we are currently collecting information on how diversity impacts the fundraising journeys of start-up and scale-up founders and cofounders in the European innovation ecosystem.

Could you spare 15 minutes to complete the survey, or take 2 minutes to share it with someone who can complete it?  Thank you so much for your support!