Combating ‘Diversity Fatigue’ Is Key to Creating a Truly Inclusive Workplace
By Dea Chincuanco
From Issue 3, 2024 of Breakbulk Magazine.
The ever-growing global demand for power, driven by both the massive energy consumption of progressive nations and the projected growth of emerging markets, underscores the importance of sustainable power generation, as highlighted in the IEA World Energy Outlook 2021.
To meet the evolving needs of the marketplace, innovative solutions for power generation and emissions reduction have received substantial economic and political inputs, while energy companies have responded by updating (if not innovating) their value propositions, investing in power generating technology, generative AI capabilities, acquisitions, organizational restructuring, and assets – all of which require financing. These inputs for increased productivity are normative, but is the same true for Employee Value Proposition (EVP)?
Although the immediate concerns of the Great Resignation may have eased post-pandemic, talent acquisition and retention remain one of the greatest resource inputs in profitability. While this concept is not novel, it warrants closer examination.
Are material incentives truly equitable? Is there alignment between organizational values and the actions of leadership? Ultimately, is EVP a checkbox or a genuine priority?
Undoubtedly, profitability is essential for corporations to thrive and sustain themselves. Material offerings are a single aspect to consider in achieving (leveled) parity, but it is predominantly the corporate values that lead to its structure – a structure fostering professional growth and providing opportunities within revenue generating divisions, potentially leading to advancement into senior leadership and the C-suite.
A recent piece in the Wall Street Journal titled “Women Aren’t Getting the Big Jobs at Goldman Sachs, and They’re Heading for the Exits” was thought-provoking yet laced with typical criticism. It described how professional women advancing into leadership often find their roles limited to non-revenue-generating functions, hindering their potential for growth into C-suite positions.
Moreover, it pointed out instances where the few women who did progress faced challenges, as some top leaders would undermine their capability in board meetings or public arenas, making it difficult to envision them leading at a higher level.
This reality is further underscored by a forecast presented at the World Economic Forum’s Davos Agenda in January 2023, indicating that “It will take 155 years to reach gender parity in the Political Empowerment subindex of the World Economic Forum’s Global Gender Gap Report.”
To move the needle today for a better tomorrow, it is essential to remain vigilant against Diversity, Equity and Inclusion (D&EI) fatigue. Engaging with organizations such as Catalyst, founded in 1962, and participating in Catalyst’s Men Advocating Real Change (MARC) initiative can have significant impact.
Enbridge, the Canadian multinational pipeline and energy company, was honored with a Catalyst award in 2022 for their diversity dashboard, which fosters transparency with both internal and external stakeholders.
Mobilizing measuring tools in ethical business practices such as those provided by Ethisphere, which aims to advance the standards of ethical business practice, enables professional leaders to be more conscientious and strategic in their long-term planning towards a brighter future for all.
Dea Chincuanco is president of dship Carriers Americas.
TOP PHOTO CREDIT: dship Carriers
