Diversity, Equity, Inclusion + Belonging

about the DEI+B task force

The vision of the IAPD Diversity, Equity, Inclusion and Belonging Task Force (DEI+B) is to make the performance plastics industry a place where everyone will feel welcome in our organizations and have great careers. The task force will provide resources for member companies to adopt and implement DEI+B practices with an emphasis on the business ROI. 

 

why is DEI+B necessary for the performance plastics industry?



DEI+B is here. More than ever before, the workforce, suppliers, customers and investors in the performance plastics industry consist of diverse populations. 

Adjusting company culture to DEI+B is required to attract top talent and foster diverse relationships with customers and suppliers.

Nurturing a diverse workforce supports innovation and improves our products and services. It develops and maintains safe and welcoming company cultures.


  

 

 

about DEI+B

What is Diversity, Equity, Inclusion and Belonging?

Diversity is the idea that each person is unique.

Characteristics that make us unique are:
  • Race
  • Gender
  • Ethnicity (culture)
  • Color
  • Age
  • Sexual orientation
  • Gender identity
  • National origin (where you were born)
  • Religion
  • Physical ability
  • Family and domestic status
  • Economic status

Equity means providing everyone with equal access to opportunity. Equity recognizes that each person has different circumstances. Equity means allocating the exact resources and opportunities needed to reach an equal outcome (Toke, 2022).



Inclusion is when everyone is included, visible, heard and considered.

An inclusive workplace is one where all candidates and employees feel welcome. It provides all candidates with opportunities for employment, success in the job, and advancement within the organization. Inclusion could be considered the foundation upon which all diversity efforts are built.

 

Belonging is when each individual employee feels like a valued member of the organization.  

They bring their full authentic self to work.
Understanding diversity, equity, inclusion and belonging (DEI+B) in the workplace is a valuable mindset to attract top talent and retain current employees.

DEI+B is a philosophy that recognizes and honors the value of diverse voices, and centers inclusivity and employee wellbeing as fundamental components of success. These four concepts work together to boost team dynamics, productivity, and innovation within organizations. 

Before beginning to implement new practices, it’s important to fully understand each component, both individually and how they work together. DEI+B is not a one-time initiative – it's a lifetime of educating and listening to everyone in the company.

the business case for DEI+B

How is DEI+B linked to increased profitability?

Just as sustainability was once a “nice-to-have” quality for a company and is now a necessity, embracing a diverse and inclusive workforce is quickly becoming a requirement for organizations.  Having a diverse workforce impacts the bottom line for businesses in a number of ways. 

Diversity impacts the bottom line for businesses of all sectors and sizes: 

1. Diversity attracts talent.

Companies that embrace diversity appeal to a broader range of job seekers, giving those companies a better chance to attract top talent. Simply put, diverse companies appeal to a diverse candidate pool. 



Diversity includes a wide array of human dimensions including race, sexual orientation, gender identity, ethnicity, age, national origin, economic circumstance, religion, physical ability and family/domestic status.

 
2. Companies that employ people with diverse backgrounds and experiences benefit from having multiple perspectives.

Diverse teams engage in richer brainstorming sessions, often resulting in more creative solutions to business challenges. 

 

 

3. Diverse companies develop products and services that appeal to a broader market.

A diverse team is more likely to relate to the wants, needs and pain points of a diverse market. Diversity allows companies to offer products and services that appeal to a broader base of customers.

4. Diverse companies resonate with investors.

Investors are increasingly choosing companies that champion diversity. Having a more diverse workforce gives firms a better chance of attracting capital.
5. It's the right thing to do.
  
The IAPD Diversity, Equity, Inclusion and Belonging Task Force frequently updates its resources. It is recommended you bookmark this page and check back often.
 

 

 

Sources
McMahon, A. M. (2011). Does Workplace Diversity Matter? A Survey Of Empirical Studies On Diversity And Firm Performance, 2000-09. Journal of Diversity Management (JDM), 5(2). https://doi.org/10.19030/jdm.v5i2.808
Azevedo, P., & Svanberg, C. (2020). Making Your Organisation More Inclusive, Inclusion and Diversity Case Studies [Review of Making Your Organisation More Inclusive, Inclusion and Diversity Case Studies]. In embracedifference.ert.eu (pp. 10–11). The European Round Table for Industry (ERT). https://embracedifference.ert.eu/wp-content/uploads/2020/09/ERT_embracing_difference_V26-1.pdf
 
Toke, N. (n.d.). Equality vs Equity: Understand the difference [2022] | Diversity for Social ImpactTM. https://diversity.social/equality-vs-equity/#:~:text=Equality%20is%20defined%20as%20the%20state%20where%20everybody

Dixon-Fyle, S., Dolan, K., Hunt, V., & Prince, S. (2020, May 19). Diversity wins: How inclusion matters. McKinsey & Company; www.mckinsey.com. https://www.mckinsey.com/featured-insights/diversity-and-inclusion/diversity-wins-how-inclusion-matters