DEI in Asia: Leverage Unique Characteristics for a Competitive Edge
Companies and organisations can leverage cultural context and social dynamics in Asian countries for effective DEI initiatives.
Across the globe, Diversity, Equity, and Inclusion (DEI) are much more than buzzwords. They have proven positive effects on business performance and innovation.
While commitment to DEI is increasingly universal, the optimal path to better DEI performance is not a one-size-fits-all blueprint. Companies and organisations should be aware of the local cultural context and social dynamics to implement the most effective DEI initiatives or upgrades to existing strategies.
The Asia-Pacific (APAC) region’s rich cultural tapestry provides an excellent example.
Stakeholders and culture are key to DEI success
Embedding DEI into your organisational DNA goes beyond implementing global directives or transplanting initiatives from elsewhere. The core to success is adapting DEI principles to the diverse Asian context. It is about crafting strategies that resonate with local realities.
However, some universal principles do apply. They include:
Engaging stakeholders: stakeholders' knowledge and impact on DEI initiatives make stakeholder engagement a core factor for success. For example, they can illuminate unique challenges and possibilities of local contexts. Their insights can inform DEI strategies and ensure they are globally informed and locally relevant.
Recognising cultural nuances: Context is crucial to success. Asia is a rich tapestry covering a spectrum of cultural and social norms. Recognising and respecting these differences is vital. It means understanding that while certain DEI principles might be universally accepted, their implementation could vary based on regional sentiments.
It should be noted that cultural nuances and specifics can also act as DEI enablers. For example, Asian cultures often value things like a holistic view, group-oriented focus, tradition, and emphasis on harmony and balance. Integrating these areas and values into DEI initiatives can increase their likelihood of success.
Gain competitive advantages through DEI
As mentioned, DEI should be viewed as much more than a compliance exercise. Proactive companies stand to gain competitive advantages through DEI. The advantages include:
Innovation: diverse workforces bring a medley of perspectives. In business terms, this can translate to more innovative solutions, fresh ideas, and a broader viewpoint. In the fast-paced Asian markets, this could be the difference between leading the pack or playing catch-up.
Business performance: studies have shown a direct correlation between DEI and better business outcomes. From increased profitability to enhanced brand reputation, the benefits are multifaceted and far-reaching.
Talent attraction and retention: the modern workforce prioritises workplaces that uphold DEI values, especially the millennial and Gen-Z cohorts. By championing these principles, companies attract top-tier talent and ensure their retention.
Five steps to get started with DEI
Companies looking to start DEI initiatives or expand existing efforts may look to the steps below as a guideline for approaching the subject.
Assessing your current situation: take stock of where you stand – and what you want to achieve. DEI assessments or reviews can be a tool to gauge your existing situation and lay the foundation for future efforts. Comparing your performance against external benchmarks can also help create a comprehensive understanding of your DEI situation.
Leveraging diversity in context: as is the case elsewhere, Asia-Pacific businesses should ensure that DEI efforts actively engage with regional contexts. Acknowledging the socioeconomic, political, and cultural nuances of countries within the region in DEI frameworks is vital to success.
Turning strategy into continuous action: DEI commitment is about actionable, measurable policies and constant effort. Socialising and spreading DEI principles helps ensure that employees, stakeholders, and operations are fully aligned. Revisit initiatives and goals regularly.
Embracing a holistic DEI perspective: APAC companies should strive to address DEI holistically. For example, gender equality includes many aspects beyond the gender pay gap.
Leading DEI with engagement: leadership buy-in and robust employee engagement are central to DEI's success. Active senior leadership support and employee feedback help steer the organisation’s DEI vision.
DEI is more than just an organisational aspiration. It is an internal and external drive for better business performance in a modern business environment. Viewing DEI as more than a legal imperative is core, but companies operating in the Asia-Pacific should also be aware of changing legal requirements. Staying updated and compliant is an opportunity for continual growth toward a more inclusive future.
Finally, an ambitious DEI vision, supported by concrete KPIs, can guide companies' long-term efforts. This vision, however, should not be static. As companies progress, mature, and learn, their DEI strategies should evolve. This ensures it remains relevant, practical, and in tune with global and regional shifts.
