Top 10: Diversity and Inclusion Initiatives

The global D&I market was valued at US$10.9bn in 2023 and is expected to reach US$24.4bn by the end of the decade.

But why is D&I so important?

McKinsey found that companies in the top quartile for racial and ethnic diversity are 35% more likely to have financial returns above their respective national industry medians.

And according to SAP Insights, inclusive companies are 1.7 times more likely to be innovative and get 2.3 times more cash flow per employee.

On 12 November, Sustainability LIVE: Diversity & Inclusion will foster connections between the leading diversity and inclusion leaders worldwide.

To get your free virtual ticket, click here.

​​​​​​​But it’s not just about money and the fact it makes business sense. The significance of D&I extends beyond financial metrics. 

It’s about creating workplaces that reflect the diverse societies they serve, fostering innovation through varied perspectives and building a culture of belonging where all employees can thrive. 

As companies like the below demonstrate, effective D&I strategies can transform organisational culture, enhance employee engagement and drive sustainable business growth.

Here are 10 companies that demonstrate the benefits of different D&I strategies and initiatives, along with the positives they bring.

10. Community outreach and education

Company example: Hershey

Hershey’s Pathways Project focuses on increasing diversity by implementing new hiring policies and improving access to education for Black and Brown communities. 

This initiative includes providing unconscious bias training, mentorship and leadership development programmes to cultivate previously underrepresented talent — both within the company and in the broader community.

Hershey co-created the Pathways Project in 2020 with employees. Along with it, the confectionary giant set ambitious DE&I goals to hold itself accountable to creating a more diverse and inclusive workplace.

Alicia Petross, the company’s Chief Diversity Officer, says the Pathways Project “is our five-year plan to make our company even more diverse and inclusive”.

She adds: “We’re are focused on joining the organisation, growing careers and expanding unconscious bias awareness.”

9. Diversity recruiting programmes

Company example: Amazon

Amazon has set ambitious goals to double the number of US Black employees at senior levels year-over-year and increase the hiring of US Black employees at mid-levels by at least 30% year-over-year. 

These targeted recruiting efforts aim to significantly improve representation across the company's workforce.

Amazon says: “We believe that building a welcoming and inclusive culture is essential to people doing their best work and what we can achieve as a company. We recruit individuals from diverse backgrounds and foster an inclusive workplace. 

“We take steps to ensure employees have a sense of belonging, feel valued and are able to succeed and thrive.”

Amazon data shows 26.5% of the company’s entire US workforce identifies as Black or African American with a further 22.8% identifying as Latinx.

8. Pay parity initiatives

Company example: Cisco 

Pay parity focuses on equal pay across the workforce, regardless of gender or other factors such as race or background. 

“Pay parity is an ongoing commitment for us,” digital communications technology giant Cisco says.

It adds in its pay parity report: “Cisco is also proud to have taken a national leadership role in

advancing fair pay for everyone, as one of the 28 founding signers of the White House Equal Pay Pledge. 

“We’ve joined forces with 24 companies across multiple industries to form the Employers for Pay Equity Consortium to help make the promise of fair pay a reality for all employees.”

7. Mentorship programmes for underrepresented groups

Company example: Salesforce 

Committed to ‘closing the racial wealth gap’, Salesforce says it supports the economic empowerment of underrepresented communities by building more inclusive supplier diversity strategies. 

“This includes launching our Supplier Diversity Academy, a six-month accelerator programme for small businesses that are owned by underrepresented minorities, women, veterans, disabled or LGBTQ+ individuals,” it says. 

On top of this, Salesforce has provided hands-on support for 50 Black-owned businesses in the form of mentorship and sponsorship programmes focused on business development. 

Salesforce is also in its third year of a mentorship programme that will provide 10 Hispanic and Latinx-owned business founders with sponsorship, education and networking opportunities to help grow and develop their businesses.

6. Diverse hiring panels

Company example: Pinterest

A diverse interview panel facilitates a range of perspectives on how suitable a candidate is for a position. Interviewers from a range of backgrounds and demographics are likely to submit a wider range of questions as the interview is planned, which can highlight the benefits of different lived experiences.

In 2015, Pinterest — one of the world’s fastest-growing tech companies — ensured diversity became the heart of its talent recruitment by “going on record with our hiring goals for 2016”, ensuring visibility and transparency about its workforce.

Then, in its 2020 annual report, Pinterest said it is making an even stronger effort to increase representation at the leadership level by proactively building relationships with internal and external talent — requiring at least two underrepresented candidates at the final interview for any leadership role — and setting specific leadership hiring goals and metrics.

By the end of 2020, the company met many of its diversity goals. Its data showed that 30% of leadership roles and 29% of engineering roles were held by women, as well as 12% of US leadership roles and 8% of US engineering roles being held by members of underrepresented communities.

5. Inclusive leadership training

Company example: Accenture 

Accenture made inclusive leadership and unconscious bias training mandatory for all new employees back in 2018, with the aim to complete the training for its entire workforce by 2019.

Having topped Refinitiv’s Diversity & Inclusion Index — which identifies the 100 publicly traded companies with the most diverse and inclusive workplaces — on numerous occasions, Accenture talks the talk while walking the walk.

It has invested heavily in learning and development opportunities for its employees, with a strong focus on inclusive leadership training. 

“It is the richness of the diversity of our people and our people creating a sense of belonging for each other — for each and every one of us, all 721,000 — that creates the conditions to achieve this prestigious recognition,” said Accenture Senior Advisor Ellyn Shook during her time as Accenture’s Chief Leadership and Human Resources Officer. 

“Our people are our greatest source of competitive differentiation and the unique backgrounds, perspectives and experiences they bring fuel our ability to innovate on behalf of clients.”

4.  Employee resource groups (ERGs)

Company example: Johnson & Johnson

An employee resource group (ERG) is a voluntary network of employees who share common characteristics or experiences and come together to support each other.

Johnson & Johnson’s 12 ERGs focus on shared identities, affinities and experiences, with the company working to apply these perspectives to initiatives that create for all who work at the business.

As well as this, the company boasts both a comprehensive DE&I vision and mission: the former is for every person at Johnson & Johnson “to use their unique experiences, abilities and backgrounds, together – to spark solutions that create a better, healthier world”.

Its mission thereafter is to make diversity and inclusion core to how it operates day in, day out.

CEO Joaquin Duato says: “Our global DEI strategy has enabled us to build teams that reflect the diversity of the communities we serve, tailor tools and resources to meet individual needs and improve our systems and processes so everyone has the opportunity to reach their full potential.”

3.  Pay equity analysis

Company example: Ingka Group/IKEA

IKEA conducts regular pay equity analyses as part of its commitment to gender equality and fair compensation. 

Although its gender pay gap report focuses on gender in the binary sense as is required by law, IKEA acknowledges that gender identity goes beyond the binary definitions. 

“We have a systematic and comprehensive approach to LGBT+ inclusion to minimise discrimination against people of all sexual orientations and gender identities,” IKEA says.

IKEA’s push toward gender equity started as early as 2002 with its then-CEO setting it as a priority.

The results speak for themselves: In 2023, Ingka Group achieved 50/50 gender representation and pay equity across all operations and functions.

Ulrika Biesèrt, Ingka Group’s Global P&C Manager, says: “At Ingka Group, we believe that gender equality at home and at work lie at the core of gender equality in society. 

“Around the world, fair and equitable opportunities for women are, at best, stalling. We all must do more to achieve gender parity.”

2. Self-identification campaigns

Company example: PepsiCo

PepsiCo’s sheer size and scale means it takes a data-driven approach to DE&I.

Two years ago, the beverages giant rolled out a global self-ID campaign, designed for those with disabilities, for LGBTQ+ people and for veterans.

The brand says that this audit allows it to understand the makeup of its workforce in order to then make its programming more relevant, compelling and inclusive.

The campaign leveraged tech tools and trainings to incentivise self-ID across the entire business globally, involving its LGBTQI+ ERG for feedback and advice.

The campaign, which included internal training on the importance of self-ID and pronoun disclosure, was successful with 12,475 employees across 33 countries voluntarily self-identifying their sexual orientation or gender identity.

“The ultimate objective is to become a company that’s focused on equity and genuinely inclusive,’ says Ramon Laguarta, Chairman and CEO.

1. Supplier diversity and inclusion programmes

Company example: Walmart

As the world’s largest retailer, Walmart continues to build an inclusive supply chain that reflects its customers and members — coupled with the belief that it’s imperative to provide products and services that meet their needs. 

This commitment aligns with Walmart’s core purpose and values, focusing on creating opportunities and promoting well-being.

Walmart President and CEO Doug McMillon says: “We are a people-led, tech-powered omnichannel retailer serving customers and members in countries around the world. 

“As such, we are uniquely positioned to work with a diverse range of suppliers and entrepreneurs to offer our customers and members a broad assortment of relevant products that not only delivers on value and quality, but also help to promote growth and elevate small and medium-sized businesses.”

In fiscal year 2023, Walmart’s spend with diverse-, women- and veteran-owned businesses exceeded US$13bn in the US alone. This significant investment demonstrates the company’s ongoing commitment to supplier diversity and inclusion.

By fostering an inclusive supply chain, Walmart not only enhances its product offerings but also contributes to the economic growth of diverse communities. 

This strategy ultimately allows the company to better serve its customers while promoting social progress and business success simultaneously.

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