Globally, DEI (diversity, equity, and inclusion) is crucial for your organization’s success. Implementing DEI strategies fosters a culture of respect and inclusivity, which enhances teamwork, boosts employee productivity, and improves morale.
It will also improve your decisions, help you enter new markets, and increase revenues and profits. With a diverse workforce and an inclusive work environment, your business ideas and strategies will become more creative, boosting your organization’s competitiveness.
Additionally, this approach will attract and retain top talents, increase employee engagement, and build goodwill with society. By having DEI in the workplace, you will be able to make sure that everyone in your organization is treated equally despite their religion, age, gender, sexuality, ethnicity, disabilities, and other relevant factors.
In this article, we will take you through top DEI statistics for 2024 to give an insight into its current landscape and future trends.
The Business Case for DEI
One of the most important reasons for discussing workplace diversity statistics is because of the impact of DEI on your organization’s performance.
Companies with high diversity scores reported 45% innovation revenue on average, while companies with low diversity scores got only 26% innovation revenue on average. (Source)
Thus, highly diverse management teams cause an approximately 19% increase in the average innovation revenue for your organization.
DEI Statistics for Market Capture
A Harvard Business Review study found a strong correlation between diversity in leadership and market outcomes.
Employees of companies with 2-D diversity are 45% more likely to report market share growth and 70% more likely to report that the company captured new markets in the past year. (Source)
DEI Statistics with a Global Perspective
In a study by Forbes, it was revealed that 56% of companies with more than $10 billion in revenue found that their diverse workforce significantly drove innovation within their organization. (Source)
When discussing DEI, you must discuss diversity and inclusion statistics related to workforce demographics, as this will have a big impact on the performance of your organization.
DEI Statistics for Generational Shifts
It is estimated that by 2030, 30% of the global workforce will be made up of members of Generation Z. (Source)
68% of millennials and 73% of Generation Z prefer a company that prioritizes DEI over companies that do not. (Source)
These statistics highlight why it is important that your organization fulfill modern workplace requirements.
DEI Statistics for Minorities in the Majority
Generation Z is the most racially diverse U.S. generation because only 52% identify themselves as non-Hispanic white, while 48% are non-white. (Source)
In the non-white generation, 25% are Hispanic, 14% are black, 6% are Asian, and 5% are either of some other race or a combination of two or more races.
This highlights the need to have diverse and inclusive work environments not only to ensure organizational success but also the success and development of nations.
It is crucial that you understand the top DEI statistics related to hiring and retention to understand their complete role in helping you ensure employee satisfaction and engagement, create an equitable work environment, and secure the future of your organization.
DEI Statistics for Diverse Hiring
Companies with diverse hiring practices and falling in the top quartile of racial and ethnic diversity are 35% more likely to have financial returns higher than their respective national industry medians. (Source)
DEI Statistics for Job Seeker Preferences
76% of employees and job seekers consider a company’s diversity and inclusion important when evaluating job offers. (Source)
DEI Statistics for Employee Retention
If employees experience or witness bias, discrimination, or disrespect, then they are 1.4 times more likely to quit. (Source)
Leadership and Representation
The top DEI statistics for 2024 that you must consider in relation to leadership and representation are:
DEI Statistics for Gender Diversity
Companies in the top 10% for financial performance have 29% of their leadership roles filled by women, as compared to companies with lower financial performance, which have only 23% female leaders. (Source)
DEI Statistics for Racial Diversity
In a McKinsey study, it was found that companies in the top 25% for cultural and ethnic diversity were 36% more profitable than companies falling in the bottom quarter. (Source)
DEI Statistics for Board Diversity
More than half of Fortune 500 companies have boards where women and individuals from underrepresented racial and ethnic groups occupy 40% of the seats. (Source)
DEI statistics in this domain will help you understand the impact of DEI on employee experience, thus giving you insights into areas that need improvement to enhance employee satisfaction and performance.
DEI Statistics for Employee Engagement
A Gallup study found that companies with high levels of both gender diversity and employee engagement have 46% to 58% higher financial performance compared to companies with low levels in both areas. (Source)
DEI Statistics for Discrimination and Harassment
In the past year, 43% of women experienced non-inclusive behaviors in their workplace.
Also, 4 in 10 women experienced harassment, microaggression, or both at their workplace in the past year. (Source)
DEI Statistics for Diversity Training Effectiveness
An InStride study found that 92% of business leaders believe that a strong workforce education program will help them achieve the diversity and inclusion goals of their organization. (Source)
DEI Statistics for Promotion Disparity
In a McKinsey report, it was found that for every 100 men promoted from their entry-level jobs to become managers, only 87 women were promoted. To top this bad ratio, only 73 women of color were promoted in comparison to the promotion of 100 colored men. (Source)
A survey by Deloitte found that one-third of survey respondents want to move to a company that is more LGBTQ+ inclusive. This increases to half of the respondents when they are part of an ethnic minority group. (Source)
DEI Statistics for Age Diversity
14% of adults working or looking for new work were not hired for a job that they applied for in the past 2 years because of their age. (Source)
To improve the problem-solving skills and productivity of your organization, you must hire an age-diverse workforce.
DEI Statistics for Disability Employment Gap
The employment-population ratio for persons with disabilities is 22.5%, while for persons without disabilities, it is 65.7%. (Source)
This highlights the significant employment gap, which is also preventing organizations from earning 1.6x more revenue, 2.6x more net income, and 2x more economic profit. (Source)
DEI Statistics for Mental Health
48% of Generation Z individuals and 47% of millennials said that mental health support and policies of an organization are among the factors that they assess when considering a potential employer. (Source)
They consider this factor along with other factors like DEI practices, gender equality efforts, and the people of the organization. Thus, to make sure that your organization does not lose out on some of the top talents because of poor mental health support within your organization, you must improve them.
DEI in the workplace results in positive effects on an organization’s finances. However, its absence also leads to detrimental effects that you would want to avoid.
DEI Statistics for Economic Benefits
Employees of a diverse company have 2.5x higher cash flow than companies that are not diverse. This is because inclusive teams are 35 percent more productive. (Source)
DEI Statistics for Profit Margins
In the latest Diversity Wins: How Inclusion Matters, McKinsey found that companies with the highest gender diversity on their executive teams were 25% more likely to achieve above-average profitability compared to those with the lowest gender diversity. (Source)
Companies with high ethnic and cultural diversity were 36% more profitable than those with low diversity.
Thus, ethnic and cultural diversity will have a stronger effect on your organization’s performance than gender diversity.
DEI Statistics for Ethnic Pay Gap
A study by the Pew Research Center found that in 2022 a black woman was earning only 70% and a Hispanic woman was earning only 65% of what a white man was earning.
In the case of white women, they were able to earn 83% of what white men were earning, while an Asian woman was able to earn 93% of what a white man was earning, making them the closest to achieving pay parity with white men. (Source)
Educational and Skills Gap
As the workplace evolves, it is crucial that you address the educational and skills gaps among your employees. By understanding DEI statistics related to these gaps, you will be able to better prepare and adapt your workforce strategies.
DEI Statistics for Access to Opportunities
By 2027, 60% of workers will need training, yet currently, only 50% have access to sufficient training opportunities.
Among firm skills-training priorities in the next five years, teaching employees to use AI and big data comes in third and will be given top priority by 42% of surveyed companies.
Two-thirds of companies expect to see a return on investment in skills training within a year of the investment, whether in the form of enhanced cross-role mobility, increased worker satisfaction, or enhanced worker productivity. (Source)
Future Trends and Predictions
It is important that you go through the top DEI statistics 2024 in terms of future trends and predictions, as it will help you prepare your organization for potential challenges and opportunities related to a diverse and inclusive work environment.
DEI Statistics for Demographic Changes
By 2060, it is projected that there will be one child for every three working-age adults, shifting the U.S. population from being youth-dependent to old-age dependent. (Source)
DEI Statistics and Technological Advancements
The DEI technology market, valued at $5.3 billion, is highly fragmented. Therefore, by using technology-driven DEI approaches, you will lead both financially and in driving positive change. (Source)
If you want to ensure your organization’s success and competitiveness, you must make your workforce and work environment diverse and inclusive. Diversity in thinking will enhance innovation by 20% while also helping you reduce risks by 30%.
This will help you improve employee retention and engagement, as well as the financial performance of your organization. Diverse teams also bring a wider range of perspectives, leading to better decision-making and problem-solving. Additionally, initiating mentoring and training programs can promote inclusivity, support diverse talent, and build a fair work culture.
To advance your DEI strategies, consider partnering with Engagedly. With Engagedly, you can easily conduct employee engagement surveys and gain insights into the effectiveness of your DEI strategies and policies.
1. What are the statistics on diversity in the workplace?
Diversity statistics show how well diverse groups are represented across various levels within your organization, starting from entry-level positions to senior management roles. They will also help you assess the performance of your organization in creating an inclusive and equitable work environment.
2. What is the impact of technological advancements on DEI initiatives?
Technological advancements significantly impact DEI initiatives by providing tools for improved data collection and analysis. They will help you track and measure diversity metrics more effectively, support more targeted and efficient training programs, and make DEI resources more accessible.
3. What are DEI metrics, and how are they used?
These are quantitative measures used to track and evaluate diversity, equality, and inclusion within an organization. For example, representation metrics, pay equity metrics, employee experience metrics, and promotion rates are some of the most common DEI metrics.
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Kylee Stone
Kylee Stone supports the professional services team as a CX intern and psychology SME. She leverages her innate creativity with extensive background in psychology to support client experience and organizational functions. Kylee is completing her master’s degree in Industrial-Organizational psychology at the University of Missouri Science and Technology emphasizing in Applied workplace psychology and Statistical Methods.
