Diverse, inclusive companies are also more profitable, says expert 

Gen Z employees are doing their research and simply will not apply to companies without real diversity, equity and inclusion commitments

Nessa Maguire, CEO of EudaOrg, the Irish-headquartered company whose software suite embeds and sustains diversity, equity and inclusion (DEI) for its client companies all over the world.

Evolved, diverse and inclusive companies are far more profitable and more successful at attracting and retaining talent, according to Nessa Maguire, CEO of EudaOrg.

Irish and US-based EudaOrg hosts a software suite that embeds and sustains diversity, equity and inclusion (DEI) in all areas of the business of its client companies all over the world. Its stated goal is to make the workplace fairer for one million colleagues by 2026.

“Some sectors like tech and pharma realise that embedding DEI in your business is not just about your colleagues, it is also about your suppliers and customers,” said Nessa Maguire. “Businesses need to set goals on more than just gender. Some businesses are collecting gender, age, ethnicity data, but they should start to collect more data. 

“People are all very different, and having access to data is important because sometimes we are not aware of our bias. When you are having to asking yourself ‘why are we not getting the talent we need?’, you may need to look closer at your talent acquisition software.

“For example, Ireland is now effectively at near full employment, so Irish-based employers are looking overseas for talent. Ireland is not alone in that. Global competition for talent is going to continue to grow.” 

 A global survey in 2021 by the Manufacturing Institute predicted that by 2030, as many as 2.1 million jobs could go unfilled in manufacturing if current trends in hiring and retention continue.

In another survey by recruiters Monster, 83% of Gen Z candidates said that a company's commitment to DEI is very important to them when choosing an employer. That age cohort is increasingly likely to dig deeper before committing to join a company.

It was in this context that organisation and industrial psychologists Nessa Maguire and Allison Kuschel founded EudaOrg, whose software offers the infrastructure for the delivery and measurement of diversity, equity and inclusion for client companies. From their operations based in Cork and New York, the company works with clients across the globe.  

EudaOrg’s software enables organisations to assess, analyse and action their DEI goals. EudaOrg works with companies of all sizes from big corporations to SMEs. In every case, it is important for a comprehensive buy-in across the company to properly embed DEI commitments. It is not just about the HR leader.

“John Kotter, a leading organisational change researcher, found 75% of leadership need to be bought-in to effect sustainable change,” said Nessa. “Embedding DEI is just like any other type of organizational change; it requires full engagement across the organisation.

“It is not just about HR or how you market or advertise vacancies, which is a common mistaken view of DEI. It has to filter throughout your organisation and through to your customers and your supply chain.”

 Meanwhile, the benefits of embedding EDI in a company go beyond better talent acquisition and retention. It also boosts performance and productivity.

A report on EDI published in 2023 by the BioPharmaChem Industry in Ireland cited a ResearchAndMarkets.com report which found that diverse and inclusive companies earn 2.5 times more per employee and are 35% more productive.

Naturally, access to quality data is important in managing these outcomes. More and more companies are fast becoming aware of the need to engage with measurable DEI in their organisations. For some smaller companies, however, cost can be an issue when it comes to engaging with DEI imperatives.

“You have to collect the data, but for some one big issue around DEI is the cost,” said Nessa. “A lot of products can be at a very high price point. At EudaOrg, we are very keen to focus on the SME market. Of course, we also work with very big enterprises, but we want to allow smaller companies to also be able to focus on DEI.

“Our dashboard generates data that allows you to generate goals, to evaluate how you are doing. We are doing a lot of hand-holding with the software, automating processes and bringing enterprise-grade resources to companies of all sizes.” 

 Nessa likens EudaOrg’s mission with DEI to the way that customer relationship management (CRM) has allowed companies to improve their sales performance in a measurable manner.

“The sooner you implement and embed DEI in your organisation, the better for your business,” she said. “Acting sooner than later gets you ahead of the legislative pressure that’s coming down the line. That’s why we built EudaOrg, a technology company focused on social impact.

“Our goal is to make the workplace fairer for one million colleagues by 2026. We want to make DEI accessible to businesses of all sizes. If your organisation has a limited budget, EudaOrg is the best way to cover all bases. EudaOrg will break down everything you need to do into achievable blocks of work related to the resources you have and help you progress and achieve your goals over time.

“Investing in DEI goes beyond culture and enables organisations to create well-functioning, high-performing, successful and innovative teams. With EudaOrg, companies of all sizes get access to Enterprise data insights, assessments and consultative feedback at a non-enterprise price.

“EudaOrg gives companies everything they need to create, manage, monitor their DEI goals and most importantly, drive impact in diversity, equity inclusion.” 

www.eudaorg.com