Great Place To Work introduces Four Equities framework

Great Place To Work has introduced the Four Equities framework to guide and support organisations in fostering diversity, equity, inclusion and belonging (DEIB).

Progress in the Four Equities not only enhances employee recruitment and retention but also boosts overall business performance. When employees feel valued, they are more likely to become brand ambassadors and long-term advocates for their organisation.

Great Place To Work US research has also highlighted the impact of inclusion on employee satisfaction, well-being and loyalty. Employees who trust that they and their colleagues will be treated fairly, regardless of race, gender, sexual orientation or age, are more engaged.

As such, an inclusive workplace can attract a diverse talent pool and ensure that they remain with the organisation. Therefore, diversity and inclusion have become critical components of a strong employee retention strategy, leading to a more productive, engaged and committed workforce.

It’s important to understand that diversity means having different people represented in an organisation, whilst inclusion ensures everyone can contribute and influence all levels of the workplace and belonging means everyone feels safe and can bring their full, unique selves to work.

‘Belonging’ in the workplace therefore involves employees feeling their unique identities are accepted and appreciated by their organisation and that they are treated as ‘insiders’ and encouraged to retain their uniqueness, which means valuing diverse aspects of their identity, such as being a parent, of a particular race or of a particular sexual orientation.

US Research has revealed that when employees experience belonging in the workplace, they are:

•Three times more likely to feel people look forward to coming to work
•Three times more likely to say their workplace is fun
•Five times more likely to want to stay at their organisation long-term

Four Equities 

The Four Equities, part of a three-year global research initiative called The Great Transformation, encompass:

• Equity of Representation: Ensures your workforce reflects the communities and clients you serve across all demographics, roles and leadership levels.
• Equity of Compensation: Conducts thorough audits to ensure fair pay, considering qualifications, skills and external factors impacting financial well-being.
• Equity of Opportunity: Ensures all employees have the chance to grow and develop by analysing promotion data and access to training across different identities.
• Equity of Well-being: Fosters a sense of inclusion, belonging and purpose, considering employees’ entire backgrounds and external burdens.