Most companies do not have diversity actions – 05/24/2023 – Market

Most companies in Latin America do not have diversity programs aimed at disadvantaged socioeconomic groups, according to a study by McKinsey consulting carried out with more than 5,000 people in six countries in the region.

“Although about 80% of companies have programs aimed at women, and half strive to attract LGBTQIA+ employees, only a third of companies indicate having actions or programs aimed at employees with less favorable socioeconomic conditions”, says the report.

The study, entitled “Socioeconomic diversity in the work environment”, points out that, in recent years, Latin American companies have become more inclusive and equitable in relation to historically underrepresented groups, such as women, blacks, browns, yellows and the LGBT+ community.

Actions aimed at this audience can contribute to the well-being of employees in the workplace. According to the survey, 39% of workers at companies committed to equity and inclusion actions say they are very happy in their jobs. On the other hand, only 11% of professionals from locations that do not develop diversity programs report similar levels of satisfaction.

In addition to greater satisfaction reported by employees, promoting socioeconomic diversity can bring long-term benefits to corporations and society at large.

“Investing in socioeconomic diversity can allow companies to benefit from the unique skills and talents that people from different backgrounds have to offer,” the report says.

“By promoting the access and inclusion of people with less favorable economic conditions, companies can indirectly contribute to increasing the chances of upward social mobility”, he adds.

The study warns that the concern with inclusion cannot occur only at the hiring stage.

According to the survey, only 35% of respondents with less favorable socioeconomic conditions claim to have intermediate or advanced English, compared to 66% of employees with more favorable conditions.

Therefore, the report says that it is necessary to invest in training actions for the workforce, such as offering language and specific software courses, in order to help employees develop these skills after they are hired.

“The truth is that second language proficiency is not a measure of a candidate’s ability, but access to opportunities,” the director of equity and inclusion at a technology company told McKinsey.