Companies have devoted more resources to diversity and innovation during the pandemic

The number of companies that have made progress in diversity management and innovation has been increasing over the past two years, especially during the pandemic. Sixty percent acknowledge that they have devoted increased human, financial and organizational resources to managing inclusion and driving innovation during this period.

This is one of the data provided by the second‘‘Índice de Innodiversidad 2021’, carried out by the Fundación para la Diversidad, an organization in charge of promoting diversity management in Spain and the Fundación IE;n encargada de impulsar la gestión de la gestión de la diversidad en España y la Fundación IE, de IE University, en colaboraciónón HP y Pfizer.

 The innodiversity, a concept coined by the authors of the study, Celia de Anca, vice dean of Étics, Diversity and Inclusion at IE University, and Salvador Aragón, general director of Innovation at IE University, increases the competitiveness of the organization, based on the ability of companies to jointly manage diversity and innovation.

In Spain, 38% of companies already have diversity management policies in place. A percentage that varies depending on the size of the company: 44% of large Spanish companies already have policies in this regard; ten points above the value of 2019, followed by small (36%) and medium-sized companies (26%).

“innovationón and diversity are two inseparable pillars. Diversity in teams boosts creativity and innovation, determinants for improving the efficiency and competitiveness of companies. Betting on the management of innodiversity only brings benefits for companies, regardless of their size and sector of activity," says Sergio Rodríguez, general manager of Pfizer Spain.

Business leaders are increasingly assuming that one of the greatest strengths of organizations lies in the talent and diversity of the people who make them up. In addition, most companies are working to intensify their innovation policies, with the aim of improving their competitiveness.

Digitization has brought with it new ways of understanding business and teams. Only the union of Innovation and Diversity will be the catalyst to generate an ecosystem of social and economic growth, capable of responding to the challenges we must face to build a better future," said Helena Herrero, president of HP Southern Europe.

PANDEMIA AS A CATALYST

The crisis caused by Covid-19 has also been felt in the area of diversity and innovation. But contrary to what one might think, the healthcare crisis has meant a pushback in terms of improvement efforts in these areas.

As a response to the new social and economic environment, the Spanish business fabric has been able to see innovation as the key tool for adapting to the new business ecosystem, and 74% of companies already manage it in some form, through the use of new technologies and the creation of specific teams.

The processes in which companies innovate the most are mainly focused on the business model, as a response to the new crisis environment, with the aim of exploring other value propositions that allow them to compete in an increasingly demanding market.

Thus, from being present in 57% of companies, it has increased to 66%. Companies have discovered that they can be disruptive, and are looking to bring about a significant change in the market, making use of innovation.

Similarly, the Spanish business fabric has reinforced its commitment to innovation in internal processes, which has grown to 71%, followed by the generation of new products;new products or services to adapt their offer to current needs (70 %), and the management of customer relations, a process in which 68 % of companies already innovate.

With regard to the type of diversity, it is particularly striking how 87% of companies have focused on gender equality management; the commitment to people with disabilities (73%) and senior talent (71%) are the next in the ranking, which closes the interest in the talent of staff belonging to the LGTBI group (45%).

 

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