Stay in Your Lane, your favorite franchise consulting company here to tell you about the superpowers of diversity, equity, and inclusion (DEI) in the business world and franchise space. Not only does DEI help create a fairer and more inclusive society, but it’s also got some serious sales-boosting potential! (WE LOVE A BIGGER BOTTOM LINE, don’t you?) Check out these facts and sources that prove DEI can make your bottom line shine!
Winning over the hearts (and wallets) of diverse customers: Did you know that a whopping 83% of millennials surveyed by Deloitte think about a company’s DEI creds when they shop? And, according to the HRC Foundation, 67% of consumers would wave goodbye to a brand that didn’t support LGBTQ rights. So, by embracing DEI, businesses can charm a diverse crowd of customers and watch those sales figures soar!
Boosting employee happiness and productivity: McKinsey & Company discovered that companies with more diverse teams perform better financially. Plus, a Glassdoor study found that 67% of job seekers care about workforce diversity when choosing their dream job. By celebrating diversity and fostering inclusivity, businesses can snatch up top talent and watch their employee engagement and productivity rocket – hello, sales success!
Supercharging decision-making and problem-solving: The clever folks at Harvard Business Review found that diverse teams are like problem-solving superheroes compared to homogeneous ones. And Deloitte revealed that inclusive teams make better business decisions up to 87% of the time! By assembling teams with a mix of backgrounds and perspectives, businesses can make smarter choices and solve problems like a boss – leading to potential sales growth.
Buffing up your company’s rep: The HRC Foundation discovered that a solid 61% of consumers would be more likely to buy from a company that supports LGBTQ rights. So, by championing DEI initiatives, businesses can polish their reputation, build customer loyalty, and potentially watch their sales shoot up!
At Stay in Your Lane, we’re DEI cheerleaders in the franchising world! We offer empathy and diversity training to help our clients create more inclusive and equitable franchise systems. By valuing diversity and championing inclusivity, our clients can woo diverse customers, franchisees, and top talent, sharpen their decision-making and problem-solving, and enhance their reputation – all leading to potential sales growth, and franchise sales!
To sum it up, DEI initiatives can turbocharge sales by attracting and retaining diverse customers, pumping up employee engagement and productivity, improving decision-making and problem-solving, and making your company shine like a star. By embracing DEI initiatives, businesses can not only boost their bottom line but also contribute to a more equitable and inclusive society. So, let’s all stay in our lane and make DEI a top priority in our businesses! ✨