Antoine Andrews is the Chief Diversity & Social Impact Officer at SurveyMonkey.
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As people, many of us have a deep personal investment in the trending social issues that are contributing to the diversity, equity and inclusion (DEI) conversation. But as business leaders, how do we engage in these topics with authenticity, compassion and empathy? And what is the ripple effect of empowering employees to do the same?
In my experience, purpose-driven individuals bring a high level of determination, problem solving and heart to their professional roles. Their job fulfillment is fueled by being part of a company with goals that closely align with their own personal values and interest in social issues. A recent study we conducted at SurveyMonkey found that about 6 out of 10 workers approve of business leaders weighing in on social issues, and 78% want to work for a company that values DEI.
With this trend on the rise, companies are addressing social issues more than ever before to differentiate themselves in increasingly competitive markets—taking not only a public stand but also actively driving change. We’re each accountable for contributing to positive social stewardship, regardless of our identity, title or level of expertise. Addressing social issues is a critical piece of the DEI equation, so it’s essential for organizations to invest valuable time and energy toward this.
For those leaders on the fence, here are four compelling reasons to address social issues as part of your organization’s DEI strategy.
1. A unified mission is empowering.
Combining DEI and social impact efforts can be immensely valuable for both a company and its employees. This essential pairing enables organizations to put their values into action under the umbrella of a combined strategy. I’ve personally seen it play out in many ways, from teams introducing new, highly accessible DEI-specific training and policies to instituting third-party diversity programs and purposefully electing to support small businesses.
These intentional choices exemplify how employees across all functions and levels play a role in embedding DEI throughout the business. I’ve found that when employees understand they are the stewards to—rather than merely beneficiaries of—the DEI and social impact work underway, they feel empowered to participate. This results in a more positive employee experience overall.
2. Employee engagement and retention improve.
Prioritizing DEI and social impact efforts is key to employee engagement and retention. According to a 2020 Deloitte study, purpose-driven companies have 40% higher levels of workforce retention than their competitors. Another study found that corporate social responsibility is the third most important driver of employee engagement.
Today’s professionals have more choices than ever when it comes to finding an employer with similar values to their own, which is an important contributor to professional fulfillment. They’re also very savvy about this. They know corporate claims about theoretical DEI and social concerns aren’t the same as actions that drive change. It’s therefore vital to keep in mind that current and potential employees are watching, and accountability for delivering on DEI and social impact claims is highly expected.
3. Employees are happier.
You might wonder how addressing social issues relates to employee happiness? The better question may be “How doesn’t it?” The pursuit of happiness is a fundamental element of today’s workforce. Happier employees are more productive, engaged and creative. As a result, companies may see lower absenteeism and increased retention.
Our study found that when companies’ actions don’t match their stated values, they may be perceived as deceptive, hypocritical and misaligned with the authentic employee experience. Around 24% of workers surveyed said their company either isn’t doing enough or is doing nothing around DEI, which severely impacted their workplace satisfaction. This extended to their overall feelings about their jobs, including their opinions about pay and career advancement opportunities.
Therefore, this clear tie between job satisfaction and DEI may be more important now than ever if companies want to retain their top talent.
4. You’re seen as a standout to customers.
Finally, being actively involved in the changes around high-visibility social issues has an impact on your company’s brand image. A 2021 PwC study found that 76% of consumers were more likely to engage with brands that were vocal about supporting social issues. The flip side, of course, is that they were more likely to end any relationship with a business that wasn’t committed to environmental, social and governance issues. So, openly supporting social issues can set you apart from the competition in the eyes of existing and potential customers.
Bottom line?
The evidence is clear: DEI and social impact efforts are deeply personal factors that impact employee engagement and satisfaction, customer perceptions and, ultimately, business results.
But studies and statistics aside, successfully addressing social issues tracks back to whether your company’s moral compass—that set of values quietly beating at the heart of everything you do—is truly woven into all of your business decisions. If the heart is truly there, the ripple effect will be felt far and wide.
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