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Why Companies Are Failing in Their Diversity, Equity and Inclusion Efforts Let's explore why it's crucial for companies to prioritize the success of their DEI leaders and equip them with the necessary resources and authority to foster an inclusive workplace.

By Clair Kim

Opinions expressed by Entrepreneur contributors are their own.

Companies care about diversity, equity and inclusion (DEI) because they know that a diverse workforce leads to greater innovation, creativity and overall success. However, despite this knowledge, many companies struggle to effectively implement DEI initiatives. In difficult economic times, it's easy for companies to cut costs and put DEI efforts on the back burner. However, this can lead to consequences such as a lack of diverse perspectives and diminished employee engagement.

Let's explore why it's crucial for companies to prioritize the success of their DEI leaders and equip them with the necessary resources and authority to foster an inclusive workplace. By doing so, companies can unlock the full potential of a diverse and empowered workforce. Our takeaways will provide practical steps that companies can implement to develop a successful DEI strategy that not only benefits the business but also supports the well-being and satisfaction of its employees.

Related: Not Where You Want to Be with Diversity and Inclusion? Consider a Bite-Sized Approach.