Abstract: A Successful Company is One Which Implements DEI Not Only as a Moral Obligation but also as a Business Imperative The global market for Diversity and Inclusion (D&I) estimated at US$7.
New York, Jan. 14, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report "Global Diversity and Inclusion (D&I) Industry" – https://www.reportlinker.com/p06219616/?utm_source=GNW
5 Billion in the year 2020, is projected to reach a revised size of US$15.4 Billion by 2026, growing at a CAGR of 12.6% over the analysis period. Employee Resource Groups (ERGs), one of the segments analyzed in the report, is projected to grow at a 12.1% CAGR to reach US$5 Billion by the end of the analysis period. Employee Resource Groups (ERG) are employer-recognized workplace groups voluntarily led by employees. ERGs, also known as affinity groups, business resource groups or employee/team member networks, are popular in many big companies today. These groups offer a unique, employee-driven way to achieve a cohesive work environment. Growth in the External Partnerships segment is readjusted to a revised 11.5% CAGR for the next 7-year period. The market in the U.S. is estimated at US$3.8 Billion in the year 2021. The country currently accounts for a 45.5% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$1.8 Billion in the year 2026 trailing a CAGR of 11.4% through the analysis period. Among the other noteworthy geographic markets are Canada and Europe, each forecast to grow at 9.7% and 12.4% respectively over the analysis period.
We live in an increasingly complex and interconnected world where shaped by globalization and technological advancements diversity has become the fabric of modern society. Companies eager to establish a strong presence in a variety of emerging new markets have initiated the global gold rush for multicultural markets, diverse employees, and untapped consumer bases. Success in global markets requires multicultural initiatives and a sustained effort to integrate distinct demographic and cultural diversity into an inclusive environment that fits into the broader vision of the company`s growth and advancement. This is opening up rich opportunities for companies to spearhead growth by leveraging their access to a diverse talent pool. While global diversity of the labor force is good and beneficial for companies to enhance creativity and drive innovation, the same also challenges long held traditional business ideas and assumptions. Companies are being forced to effect major structural reorganizations spanning all key areas of business operations, marketing, talent recruitment and retention functions.
Even from a business standpoint, the case for diversity in workplace is overwhelming given its ability to foster innovation, creativity and empathy in ways that homogeneous environments can never do. As markets evolve to become more competitive than ever before and the business environment gets tougher amid the crisis, companies need to remain alert, aware, agile and responsive to remain afloat, profitable and successful. To be successful in a world that is constantly changing, companies need to be leading the change rather than responding to it. Companies with more diverse teams and inclusive are better able to lead change than those with a more homogeneous workforce. A strong organizational culture and robust structural foundation are critical for achieving agility that comes from internal strength. Diverse companies earn 2.5 times higher cash flow per employee and inclusive teams are productive by over 35%. High-diversity environments and all-inclusive culture has clear benefits and advantages.
Yet, global DEI initiatives are particularly challenging to successfully implement and measure. Achieving real equality and inclusion is a challenging task and over 65% of employees are of the opinion that their managers do not foster an inclusive environment. Achieving greater diversity in the workplace is relatively easier as it represents the mix or the make-up of an entity. However, the inclusion piece of the puzzle is more complex and ensuring the same is immensely tough as it involves integration of the contributions, presence and perspectives of different groups of people into the environment. Inclusion is all about making the mix work together as a cohesive whole by respecting, welcoming and valuing the diversity of every individual`s unique background, experiences, race, ethnicity, sexual orientation, gender identity, faith, tradition, and most importantly perspectives. An inclusive culture allows for collaborative daily learnings, full freedom to decide and experiment, provides excellent mobility across the organization, and encourages long term thinking. Diversity without inclusion can create a toxic culture and similarly inclusion without diversity can create an uncreative and infertile environment where a company can stagnant.
Select Competitors (Total 120 Featured)
Affirmity
AllenComm
Artesian Collaborative, LLC
Atrixware, LLC
Berkshire
CABEM Technologies, LLC
CTM Unlimited
Deloitte
DiversityResources.com Inc
HR Learning Center LLC
HR Unlimited, Inc.
HR Works, Inc.
Ideal
International Multicultural Institute
Korn Ferry
OutSolve
Peak Performance, Inc.
PeopleScout
PRISM International, Inc.
PwC Advisory Co., LLC
Spectra Diversity LLC
Trupp HR, Inc.
Read the full report: https://www.reportlinker.com/p06219616/?utm_source=GNW
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. DIVERSITY & INCLUSION, A REVOLUTION IN THE WORKPLACE
Diversity & Inclusion In The Workplace: A Fact Check
Humanity?s Struggle With Diversity. Why is it so Hard to
Achieve Equality?
EXHIBIT 1: This is What We Are: % Share Breakdown of World
Population by Race
EXHIBIT 2: It Makes Sense to Look for Cultural Survival &
Importance in the Continued Use of Traditional Languages &
Dialects: Global Number of People Speaking Native Languages
as of the Year 2021
EXHIBIT 3: The World is Truly a Global Village: Breakdown of
Ethnic Groups As a % of Total Population of Select Countries
EXHIBIT 4: Prevailing Corporate Sentiments on Diversity &
Inclusion (In %)
Labor Globalization is the New Reality
Globalization Triggers Migration of Skilled Labor to Developed
Countries
EXHIBIT 5: Attracting & Retaining Globally Mobile Skilled
Migrants is the New Norm: Immigrant Workers as % of Total
Labor Force in Developed Countries
The Current State of Diversity in the U.S., A Land of Cultural
Diversity
What Does this Mean for Companies? It Means the Dawn of a New
Era of D&I Is Upon the Corporate World
EXHIBIT 6: How Are Top Companies Currently Scoring on the
Diversity & Inclusion Front: Breakdown of Score as of the Year
2021
As Economic Conditions Toughen, Diversifying DNA To Elicit
Tangible, Creative Outcomes Is the Only Way for Companies to
Survive
What?s the Challenge?
EXHIBIT 7: A Strong Yet Exceedingly Patchy & Uncertain Recovery
Shaped by New Variants Comes Into Play: World Economic Growth
Projections (Real GDP, Annual % Change) for 2020 through 2022
Now is the Time for Reimagining the Post Pandemic Organization &
for Workforce Planning to Achieve Competitive Advantage
Post-COVID-19
EXHIBIT 8: Corporate Roles & Opportunities for Diversity &
Inclusion is Increasing by the Day: % Increase in Diversity &
Leadership Roles & Titles on LinkedIn 2015 Vs 2021
EXHIBIT 9: It?s Only the Marginalized Who Appreciate the Value
of Business Diversity: % of White People & People of Color Who
Believe Business Diversity Is Not Crucial for Professional
Success
What We Know & What We Don?t: A Review
Importance of Diverse Workforce & Diversity in Recruitment is
What Every HR Department Knows
EXHIBIT 10: Here?s Evidence that Workplace Diversity Attracts
Top Talent: % of Job Seekers Who Consider Diverse Workforce
Before Accepting Job Offers
EXHIBIT 11: Want to Increase Profitability Then Its Time to See
How Diverse Your Workforce Is: Revenue Performance of
Companies With High & Low Diversity Scores
Economic Benefits of Diverse Workforce & Inclusive Work
Environment Are Well Acknowledged Facts
Including ALL in the Fold, Here?s What Companies Do Not Know
A Recap of Challenges Plaguing Successful Implementation of D&I
Programs
Symptoms of a Workplace Lacking D&I
Microaggression, the Often Overlooked Yet Critical Symptom of a
Non-Inclusive Work Environment
So What Can Companies to Do to Achieve their D&I Goals?
Implement D&I Best Practices in the Workplace
Acknowledging the Fact that Inclusive Leadership Vital to Success
Never Underestimate the Role of Manager Training & Bias
Awareness in Achieving D&I Goals
Identifying & Addressing D&I Challenges
2. INFLUENCER INSIGHTS
3. FOCUS ON SELECT PLAYERS
4. WHAT?S BUZZING IN THE D&I SPACE
Diversity Hiring Picks Up as Millennial and Gen Z Job Seekers
Prefer Companies with Workplace Diversity
EXHIBIT 12: Global Workforce Composition: % Breakdown of Male
Vs Female Employees as of the Year 2021
EXHIBIT 13: Global Workforce Composition: % Breakdown by Race &
Ethnicity as of the Year 2021
EXHIBIT 14: Gender Disparity of People in Leadership Role
Continues to Remain: Gender of People in Managerial & CEO
Roles in Fortune 500 Companies as of the Year 2021
Racial Discrimination Still Remains Rife in Workplaces in
Europe & North America
EXHIBIT 15: Despite the Fact Diversity is Beneficial for a
Company, the Reality is that Corporate Leaders Remain White &
Male: Representation of Workforce in the U.S. by Role, Gender &
Race as of the Year 2021
What is Racial Discrimination?
Racism Remains the Bitter Reality Despite Laws
Slow Progress: Racism Continues to Survive & Thrive
Sexism & Racism: A Tough Combination for Women of Color
Ways to Effectively Deal with Racial Discrimination at Workplaces
Female Empowerment Still Remains Weak as Evidenced by
Representation in Governments/Public & Corporate Sector
EXHIBIT 16: Top Reasons Why Women Continue to be Under
Represented in Companies & Politics Worldwide
A New LGBTQ Workforce is Here! Are We Ready to Create a More
LGBTQ Inclusive Workplace?
EXHIBIT 17: Composition of LGBTQ Workforce (In %) by Age Group
as of the Year 2021
EXHIBIT 18: % of LGBTQ Workforce Who Experience Discrimination
in the Workplace
Important Role of Employee Resource Groups (ERGs) in Achieving
Diversity in the Workplace
Technology Comes to the Aid of D&I Implementation
Using AI to Eliminate Biases
5. GLOBAL MARKET PERSPECTIVE
Table 1: World Current & Future Analysis for Diversity and
Inclusion (D&I) by Geographic Region – USA, Canada, Europe,
Asia-Pacific and Rest of World Markets – Independent Analysis
of Annual Spending in US$ Million for Years 2020 through 2027
and % CAGR
Table 2: World 7-Year Perspective for Diversity and Inclusion
(D&I) by Geographic Region – Percentage Breakdown of Value
Spending for USA, Canada, Europe, Asia-Pacific and Rest of
World Markets for Years 2020 & 2027
Table 3: World Current & Future Analysis for Employee Resource
Groups (ERGs) by Geographic Region – USA, Canada, Europe,
Asia-Pacific and Rest of World Markets – Independent Analysis
of Annual Spending in US$ Million for Years 2020 through 2027
and % CAGR
Table 4: World 7-Year Perspective for Employee Resource Groups
(ERGs) by Geographic Region – Percentage Breakdown of Value
Spending for USA, Canada, Europe, Asia-Pacific and Rest of
World for Years 2020 & 2027
Table 5: World Current & Future Analysis for External
Partnerships by Geographic Region – USA, Canada, Europe,
Asia-Pacific and Rest of World Markets – Independent Analysis
of Annual Spending in US$ Million for Years 2020 through 2027
and % CAGR
Table 6: World 7-Year Perspective for External Partnerships by
Geographic Region – Percentage Breakdown of Value Spending for
USA, Canada, Europe, Asia-Pacific and Rest of World for Years
2020 & 2027
Table 7: World Current & Future Analysis for Training &
Development by Geographic Region – USA, Canada, Europe,
Asia-Pacific and Rest of World Markets – Independent Analysis
of Annual Spending in US$ Million for Years 2020 through 2027
and % CAGR
Table 8: World 7-Year Perspective for Training & Development by
Geographic Region – Percentage Breakdown of Value Spending for
USA, Canada, Europe, Asia-Pacific and Rest of World for Years
2020 & 2027
Table 9: World Current & Future Analysis for Recruitment by
Geographic Region – USA, Canada, Europe, Asia-Pacific and Rest
of World Markets – Independent Analysis of Annual Spending in
US$ Million for Years 2020 through 2027 and % CAGR
Table 10: World 7-Year Perspective for Recruitment by
Geographic Region – Percentage Breakdown of Value Spending for
USA, Canada, Europe, Asia-Pacific and Rest of World for Years
2020 & 2027
Table 11: World Current & Future Analysis for Other Segments by
Geographic Region – USA, Canada, Europe, Asia-Pacific and Rest
of World Markets – Independent Analysis of Annual Spending in
US$ Million for Years 2020 through 2027 and % CAGR
Table 12: World 7-Year Perspective for Other Segments by
Geographic Region – Percentage Breakdown of Value Spending for
USA, Canada, Europe, Asia-Pacific and Rest of World for Years
2020 & 2027
III. MARKET ANALYSIS
UNITED STATES
Table 13: USA Current & Future Analysis for Diversity and
Inclusion (D&I) by Segment – Employee Resource Groups (ERGs),
External Partnerships, Training & Development, Recruitment and
Other Segments – Independent Analysis of Annual Spending in US$
Million for the Years 2020 through 2027 and % CAGR
Table 14: USA 7-Year Perspective for Diversity and Inclusion
(D&I) by Segment – Percentage Breakdown of Value Spending for
Employee Resource Groups (ERGs), External Partnerships,
Training & Development, Recruitment and Other Segments for the
Years 2020 & 2027
CANADA
Table 15: Canada Current & Future Analysis for Diversity and
Inclusion (D&I) by Segment – Employee Resource Groups (ERGs),
External Partnerships, Training & Development, Recruitment and
Other Segments – Independent Analysis of Annual Spending in US$
Million for the Years 2020 through 2027 and % CAGR
Table 16: Canada 7-Year Perspective for Diversity and Inclusion
(D&I) by Segment – Percentage Breakdown of Value Spending for
Employee Resource Groups (ERGs), External Partnerships,
Training & Development, Recruitment and Other Segments for the
Years 2020 & 2027
EUROPE
Table 17: Europe Current & Future Analysis for Diversity and
Inclusion (D&I) by Geographic Region – France, Germany, Italy,
UK and Rest of Europe Markets – Independent Analysis of Annual
Spending in US$ Million for Years 2020 through 2027 and % CAGR
Table 18: Europe 7-Year Perspective for Diversity and Inclusion
(D&I) by Geographic Region – Percentage Breakdown of Value
Spending for France, Germany, Italy, UK and Rest of Europe
Markets for Years 2020 & 2027
Table 19: Europe Current & Future Analysis for Diversity and
Inclusion (D&I) by Segment – Employee Resource Groups (ERGs),
External Partnerships, Training & Development, Recruitment and
Other Segments – Independent Analysis of Annual Spending in US$
Million for the Years 2020 through 2027 and % CAGR
Table 20: Europe 7-Year Perspective for Diversity and Inclusion
(D&I) by Segment – Percentage Breakdown of Value Spending for
Employee Resource Groups (ERGs), External Partnerships,
Training & Development, Recruitment and Other Segments for the
Years 2020 & 2027
FRANCE
Table 21: France Current & Future Analysis for Diversity and
Inclusion (D&I) by Segment – Employee Resource Groups (ERGs),
External Partnerships, Training & Development, Recruitment and
Other Segments – Independent Analysis of Annual Spending in US$
Million for the Years 2020 through 2027 and % CAGR
Table 22: France 7-Year Perspective for Diversity and Inclusion
(D&I) by Segment – Percentage Breakdown of Value Spending for
Employee Resource Groups (ERGs), External Partnerships,
Training & Development, Recruitment and Other Segments for the
Years 2020 & 2027
GERMANY
Table 23: Germany Current & Future Analysis for Diversity and
Inclusion (D&I) by Segment – Employee Resource Groups (ERGs),
External Partnerships, Training & Development, Recruitment and
Other Segments – Independent Analysis of Annual Spending in US$
Million for the Years 2020 through 2027 and % CAGR
Table 24: Germany 7-Year Perspective for Diversity and
Inclusion (D&I) by Segment – Percentage Breakdown of Value
Spending for Employee Resource Groups (ERGs), External
Partnerships, Training & Development, Recruitment and Other
Segments for the Years 2020 & 2027
ITALY
Table 25: Italy Current & Future Analysis for Diversity and
Inclusion (D&I) by Segment – Employee Resource Groups (ERGs),
External Partnerships, Training & Development, Recruitment and
Other Segments – Independent Analysis of Annual Spending in US$
Million for the Years 2020 through 2027 and % CAGR
Table 26: Italy 7-Year Perspective for Diversity and Inclusion
(D&I) by Segment – Percentage Breakdown of Value Spending for
Employee Resource Groups (ERGs), External Partnerships,
Training & Development, Recruitment and Other Segments for the
Years 2020 & 2027
UNITED KINGDOM
Table 27: UK Current & Future Analysis for Diversity and
Inclusion (D&I) by Segment – Employee Resource Groups (ERGs),
External Partnerships, Training & Development, Recruitment and
Other Segments – Independent Analysis of Annual Spending in US$
Million for the Years 2020 through 2027 and % CAGR
Table 28: UK 7-Year Perspective for Diversity and Inclusion
(D&I) by Segment – Percentage Breakdown of Value Spending for
Employee Resource Groups (ERGs), External Partnerships,
Training & Development, Recruitment and Other Segments for the
Years 2020 & 2027
REST OF EUROPE
Table 29: Rest of Europe Current & Future Analysis for
Diversity and Inclusion (D&I) by Segment – Employee Resource
Groups (ERGs), External Partnerships, Training & Development,
Recruitment and Other Segments – Independent Analysis of Annual
Spending in US$ Million for the Years 2020 through 2027 and %
CAGR
Table 30: Rest of Europe 7-Year Perspective for Diversity and
Inclusion (D&I) by Segment – Percentage Breakdown of Value
Spending for Employee Resource Groups (ERGs), External
Partnerships, Training & Development, Recruitment and Other
Segments for the Years 2020 & 2027
ASIA-PACIFIC
Table 31: Asia-Pacific Current & Future Analysis for Diversity
and Inclusion (D&I) by Segment – Employee Resource Groups
(ERGs), External Partnerships, Training & Development,
Recruitment and Other Segments – Independent Analysis of Annual
Spending in US$ Million for the Years 2020 through 2027 and %
CAGR
Table 32: Asia-Pacific 7-Year Perspective for Diversity and
Inclusion (D&I) by Segment – Percentage Breakdown of Value
Spending for Employee Resource Groups (ERGs), External
Partnerships, Training & Development, Recruitment and Other
Segments for the Years 2020 & 2027
REST OF WORLD
Table 33: Rest of World Current & Future Analysis for Diversity
and Inclusion (D&I) by Segment – Employee Resource Groups
(ERGs), External Partnerships, Training & Development,
Recruitment and Other Segments – Independent Analysis of Annual
Spending in US$ Million for the Years 2020 through 2027 and %
CAGR
Table 34: Rest of World 7-Year Perspective for Diversity and
Inclusion (D&I) by Segment – Percentage Breakdown of Value
Spending for Employee Resource Groups (ERGs), External
Partnerships, Training & Development, Recruitment and Other
Segments for the Years 2020 & 2027
IV. KEY PROPONENT COMPANIES
Total Companies Profiled: 120
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