Twenty-five percent of cases in court result in a judgement of $500,000 or more. Coming from a representative study of small- and medium-sized organizations conducted by the insurance industry, this risk should not be taken lightly. On top of the judgement costs, factor in the cost of defense and the average duration of the matter at 275 days - three-quarters of the year. Can you afford that?
Up until now the "business case" for diversity, equity, and inclusion matters has focused on th
e benefits it can bring to your organization. Don't get me wrong - those are huge, and you will miss the boat on achieving your mission, reaching your target audiences, maximizing innovation, and improving profit if you aren't paying attention to these in your company. But along with those losses, you can have some real, tangible expenses on your balance sheet if you are leaving your workplace parity considerations for later.
If you are ready to get started or need some help taking the next step, contact Workplace Equity Partners today.