“Diversity and Inclusion” is a pretty buzzy phrase these days. For some it’s aspirational, for others it’s uncomfortable, and some of us get angry about it. Fact is, for many healthcare companies the value of D&I is misunderstood as something soft and fuzzy, a feel-good workshop or a day of training to check a culture box.
But here’s another perspective: The best companies - the clinics, pharmaceutical companies, hospitals, and healthcare agencies that are getting the best talent, outperforming competitors, and increasing market share - are leveraging D&I strategies for business success. They’re responding to facts like:
By 2025, 75% of working-age professionals will be Millennials, and Generation Z is about to come into the workforce en masse. These workers have a fresh and new approach to everything from management to workplace structure.
- 10% of LGBT talent have left a position that was unwelcoming. Your best researcher, most capable manager, or top sales producer could be out the door because of an uncomfortable work environment that often isn’t intentional.
And in healthcare, inclusive strategies transcend boardrooms and affect patients in beds. Consider:
- People of color get less effective health care than Caucasians, and more unnecessary and economically inefficient care. While 5 % of white Medicare patients with Dementia received a feeding tube, 17 % of Blacks and 13 % of Hispanics did.
- By 2025, 300 million will be people aged 65 or older. Additional healthcare resources and service innovation is needed to deliver to an aging population.
- Studies indicate minorities are 1.5x more likely to suffer from Diabetes and 1.2x more likely to struggle with obesity yet are less likely to receive proper mental health care.