Diversity, Equity, and Inclusion (DEI) in the workplace have undergone a paradigm shift over the past few decades. With more organizations recognizing the importance of pursuing DEI as a strategy for the future, the same thought is slowly permeating educational institutions.
Earlier DEI initiatives were seen as an aspect to enhance the goodwill of an organization or as part of the CSR activity. However, today DEI as a concept has clearly established the business case. Organizations that don’t recognize this face the risk of serious consequences for their survival.
Recently Stanford’s business school released its third DEI Report, a major and important document of the challenges and struggles of the last year, including the disproportionate effects of the Covid-19 pandemic on minorities in the Stanford community and beyond. Seeking to lead by example, the Stanford Graduate School of Business published its first DEI Report in 2019 and launched its Action Plan for Racial Equity in 2020. These efforts included a series of goals that include creating an inclusive classroom and learning experience, cultivating a welcoming campus, and empowering underrepresented communities.
The whole purpose of an educational institution releasing a DEI Report each year is to make sure that they can measure what they are doing. Change in this space can be slow and a well-defined matrix to measure the progress can help them achieve their goals in the long run. And this is clearly visible as Stanford’s DEI efforts have not been in vain.
Students of color now account for 48% of the U.S. citizens and permanent residents enrolled in the MBA class of 2023, up from 39% just two cohorts ago. In the last two years, the admissions team has increased the number of underrepresented students in the Stanford Business School’s cohorts by 20%.
For any educational institution looking at increasing diversity, measuring its progress through matrices is definitely the first step. However, progress shouldn’t just be measured in numbers. There are a few other covert parameters that the institution must keep in mind to enhance its DEI journey.
-Have Role Models: When students from the under-represented sections of the society are enrolled in educational institutions, it is imperative for the institutions to ensure they have many role models to look up to and seek help. One effective way to ensure the same is by providing opportunities for the students to network with someone that went through a similar institution.
-Level the playing field: One of the reasons why it becomes difficult for students from under-represented groups to pursue higher education is the economic aspect or the financial constraints. Educational institutions can help students from low-income households facing intergenerational wealth disparities. Look at extending financial support to family members during and after their studies by providing financial aid. It can help a long way in increasing diversity and ensuring equity.
