Let’s talk about the new buzzword of the corporate world: allyship. Though you’ve probably heard a lot about it in recent months, it’s for good reason. Allyship is all about building and improving upon your relationships with marginalized groups, and it’s becoming increasingly crucial in the modern business landscape. Harvard Business Review even noted DEI improvement efforts as one of their nine tips for businesses this year.
Not only does allyship help to increase diversity and productivity, but it also leads to lower employee turnover. Companies prioritizing allyship and inclusion in their work cultures have better employee retention rates, improved performance, and are more likely to be recommended as awesome places to work.
So, what exactly is allyship? It’s a long-term process requiring dedication and consistency, but it’s worth it. By supporting and amplifying the team’s voices, allyship has the power to drive progress and diversify companies in 2023 and beyond.
Research backs it up—companies that promote allyship and inclusivity in the workplace tend to be more efficient and outdo their competition in employee retention. Employees of these companies are half as likely to leave, more likely to improve their performance, and up to one and a half times more likely to recommend their organizations as great places to work. This can all be traced back to their emphasis on inclusion and diversity.
Talk to your employees!
No one knows your company’s strengths (and potential weaknesses) better than those working within it—and they deserve a say, too! When trying to prioritize allyship within your ranks, be sure to talk to your staff about where they feel your blindspots may be.
Surveys show that about 80% of employees want to work for businesses emphasizing DEI efforts, while only a third say they’re satisfied with their company’s current response. They also found this group to be the happiest in their position, as well as feeling more respected and fairly compensated than other surveyed employees.
Reach out to your staff and encourage an open dialogue about how they feel about your company’s culture, both on an individual and team level. Listen to their experiences, keep an open mind to their opinions, and respond with improvements to address their concerns.
Level up your office!
Here’s the great news: making changes to benefit your employees will, in turn, benefit your company, too. Creating a safe, inclusive workplace will undoubtedly improve employee morale and, therefore, productivity. I like to say, “Keep a happy staff, and business will last!”
One study even found that companies that prioritized gender diversity and inclusion at the executive level were 25% more likely to have increased profitability than their counterparts—and these numbers are only on the rise. These statistics are up from 21% in 2017 and 15% in 2014 and continue to grow every year. This same study also found that businesses that had over 30% of female employees on their executive board were more likely to surpass their competition with less representation on their boards by as much as 48%.
This is all to say that representation really does matter; it could be what makes the difference in your company’s success metrics. Let’s get on board with allyship together and make 2023 a year of progress and diversity for businesses.
Annie Raygoza: I am the Director of Client Services at Clear Digital, a digital agency that specializes in marketing and advertising for B2B brands. I dedicated my time to building client relationships, and my team at Clear Digital has garnered a 90% client retention rate.
As a woman in marketing, advertising, and technology, I understand the importance of representing and advocating for women in the field.