The Business Case for Diversity, Equity, and Inclusion: 2023

By Jon Orozco

• Baby Boomer (59 to 77 years old)
• Generation X (43 to 58 years old)
• Millennial (28 to 42 years old)
• Generation Z (13 to 27 years old)
• Generation A (12 and younger)

There are several reasons Diversity, Equity, and Inclusion matter at work.

Diverse teams are often more creative and innovative. They bring together different perspectives and experiences. That leads to a broader range of ideas and solutions.

A diverse workforce helps a company better serve its customers, who come from a variety of backgrounds. That improves customer satisfaction and loyalty.

Promoting diversity and inclusion improves employee morale and reduces turnover. That saves the company money over the long run.

I hear you. You’re exhausted dealing with Gen Y’s issues (those born circa 1980 to 1995). Your first encounters with Gen Y in the 2000s involved their self-expressive, can-change-the-world attitude and computer-whizzbang personalities. It came across as self-centered, overly optimistic, and obnoxiously narcissistic. Gen Ys showed no sense of loyalty or willingness to put time in the chair the way other generations had.

The pushback and name-calling followed. They were called “Gen Me.” That did not deter them from their deep sense of purpose, their calling to build a better world and a more loving place. Office politics be damned.

Many Gen Ys experienced job termination for their vocal stances on equity, fairness, and justice. And they persisted. Gen Ys won many battles by becoming insanely focused on professional development and growth. They augmented their smarts and became the most college-educated and credentialed generation (check out the alphabet soup after their names).

Gen Ys also embraced their deep sense of empathy. They examined social justice issues and advocated for equity at work, despite the real risk of alienating other generations. They learned diplomacy. They asked for concessions around freedom and flexibility for themselves and their colleagues.

They made strategic bets on their careers as they rose. Earning promotions or changing employers every 2.5 years, on average. They sharpened their tech-savvy skills and tools (social media) to amplify their messaging as they scaled to the top of organizations. They earned a seat at the table and took a C-suite title.

And they are at it again. This time with their siblings, Gen Zs (born from 1995 to 2010). Little can be done to stop them. Gen Y and Gen Z will represent 80%+ of the global workforce by 2025 (Inc., 2021).

Gen Zs are the evolution of Gen Y. Shared values. On steroids. 60% of Gen Zs see systemic racism as very or fairly widespread in general society. Four percent more than Gen Y. Both generations (Gen Z in particular) are not afraid to talk about mental health at work. They are focused on stress and anxiety as negative factors that need to be corrected. Gen Zs also look to correct income inequality and “close the gap” between genders and races.