Employee resource groups (ERGs) are a win – win – win. They create space, equity, and inclusion for individuals from historically disadvantaged communities. They create a better workplace culture and comfortable environment, which leads to more productivity and profitability. And ERGs give us an incredible model for what can be done in terms of fixing disparities, creating new opportunities, and forming spaces of inclusion – a microcosm of what can be done on a societal level.
Unfortunately, many times we tend to view ERGs with small lenses – only viewing them as groups for inclusion. More fun or “feel good” than substantial, societal, and organizational. But if you invest in your ERGs, develop them, and allow them to expand and flourish, you’ll have a tool that can truly impact your company and the world around you.
The potential of ERGs:
ERGs create workplaces that are more diverse and inclusive, and diverse companies are more productive, innovative, and profitable. A McKinsey study reported that corporations identified as more diverse and inclusive are 35% more likely to outperform their competitors. So, while the competition focuses on one point of view or mines all their resources from a singular well of talent, your multicultural, gendered, and experienced team will be steps ahead.
The increase in inclusion that ERGs help with increases your company’s market share. Harvard Business Review reported that diverse companies are 70% more likely to capture new markets. Although this is a huge increase, it does seem pretty simple. The more people you include, the more comfortable they feel, and the more they will contribute their diverse ideas, which only translates into conquering new markets through new services, products, and other offerings.
There’s a direct correlation between inclusive workplaces and innovative workplaces. With inclusion, there are a million more opportunities to “think outside of the box” to discover that ground-breaking game changer that will propel an organization.
ERGs create a space for people who normally are excluded. So when people have a sense of belonging where they feel they are truly seen, heard, and valuable, they are more engaged, productive, and experience more longevity within an organization. The old motto, “A happy employee is a productive employee,” is true and ERGs create spaces and opportunities for more fun, togetherness, inclusion, and team building.
ERGs keep you honest and solidify organizational integrity. Not only do ERGs create groups based around shared interests or identities, but they also work on equitable frameworks, policies, procedures, and pipelines that will keep an organization fair and out of the news. While other industries and companies are in the headlines because of discrimination suits, bad marketing, or horrible stats on workplace diversity, thanks to fully developed ERGs, you have something that money can’t buy – a clean conscious.
ERGs, as a first step, can be fun and a way to bring people together to foster conversation and inclusion. But once you realize all ERGs can actually do, the monumental impact they can have on an organization, and how that impacts the world at large, you’ll become excited with the possibility and rush to dive further into developing your ERGs.
My name is Jessica Cox, and I can help you kick off an ERG event and raise awareness of the resources and goals your ERG has. Contact my team today to schedule a call to find out more.