Why engagement and belonging are more important than ever

Understanding people’s diverse needs and experiences is at the heart of every organisation. But what can organisations do to foster a genuine sense of belonging? Shauna Greely outlines five key equality, diversity and inclusion (ED&I) factors to consider.

The pandemic has created a lot of change and uncertainty in both our professional and personal lives. As a result, anticipating and meeting stakeholder needs have become more important than ever; it has become imperative to understand people’s lived experience, whether client, member, student, or employee, particularly in an online environment. Organisations are balancing the time efficiencies that virtual ways of interacting deliver for busy professionals, remembering their innate wish to remain part of a connected, engaged and supportive community.

Recently there has been a move by companies to understand the changing needs of stakeholders, particularly around equality, diversity, and inclusion (ED&I). Companies – especially those in the accounting industry – must note the changing attitudes and experiences regarding ED&I to determine how best to meet stakeholder needs in the future.

Organisations must spend some time in understanding stakeholders needs and plan on continuing to put initiatives in place to respond to them. According to a recent survey by Chartered Accountants Ireland, there are five key factors to bear in mind when it comes to ED&I and stakeholders of an organisation:

1. Accountancy is a profession that is open to all, regardless of background. Over 70% of accountants believe this, with three out of four accountants from minority ethnicity backgrounds agreeing.
2. Organisations must do more to promote ED&I – not only because it is the correct thing to do, but also because it is strategically important. Furthermore, by actively and frequently promoting ED&I, stakeholders can see the value placed by companies on ED&I – not just for now, but for the future too.
3. Organisations must aspire to be upfront about demonstrating their support. Without visibility, stakeholders will assume that organisations have little to no interest in ED&I, so it is important to continue to meet this demand.
4. Due to the pandemic, there has been an increased pressure on the public’s mental health, which is why it’s imperative that organisations have a robust wellness and mental health support system in place. The most sought-after support among Chartered Accountants Ireland members (56%) and students (67%) is wellness and mental health support, followed by awareness campaigns. There have been fears that the pandemic could put increasing pressure on the public’s mental health, and these statistics bear this out. Recognising and fulfilling this need is critical.
5. Having ED&I training and supports in place is very important to stakeholders, and our research shows that a majority would avail of these if possible, so make sure that not only is there visible awareness around these, but also that they are easily accessible by all.

Ultimately, fostering belonging should be one of the key strategic objectives of organisations. New and improved initiatives should be considered and measured on a regular basis to generate greater awareness and promotion of ED&I across all stakeholders.

Shauna Greely FCA is Finance Business Partner of Ulster Bank, and Chair of the Diversity & Inclusion Committee at Chartered Accountants Ireland.

The Institute has recently launched Balance, the LGBTQ+ network group to generate greater awareness and promotion of LGBTQ+ inclusion. Read more about Balance and its inaugural event on the Chartered Accountants Ireland website.