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DATE
JUL 2022
TABLES
34
PAGES
325
EDITION
3
PRICE
USD 5800
CODE
MCP23190
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Global Diversity and Inclusion (D&I) Market to Reach US$15.4 Billion by 2026
The global market for Diversity and Inclusion (D&I) estimated at US$9.3 Billion in the year 2022, is projected to reach a revised size of US$15.4 Billion by 2026, growing at a CAGR of 12.6% over the analysis period. Employee Resource Groups (ERGs), one of the segments analyzed in the report, is projected to grow at a 12.1% CAGR to reach US$5 Billion by the end of the analysis period. Employee Resource Groups (ERG) are employer-recognized workplace groups voluntarily led by employees. ERGs, also known as affinity groups, business resource groups or employee/team member networks, are popular in many big companies today. These groups offer a unique, employee-driven way to achieve a cohesive work environment. Growth in the External Partnerships segment is readjusted to a revised 11.5% CAGR for the next 7-year period. The market in the U.S. is estimated at US$4.3 Billion in the year 2022. The country currently accounts for a 45.5% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$1.8 Billion in the year 2026 trailing a CAGR of 11.4% through the analysis period. Among the other noteworthy geographic markets are Canada and Europe, each forecast to grow at 9.7% and 12.4% respectively over the analysis period.
We live in an increasingly complex and interconnected world where shaped by globalization and technological advancements diversity has become the fabric of modern society. Companies eager to establish a strong presence in a variety of emerging new markets have initiated the global gold rush for multicultural markets, diverse employees, and untapped consumer bases. Success in global markets requires multicultural initiatives and a sustained effort to integrate distinct demographic and cultural diversity into an inclusive environment that fits into the broader vision of the company`s growth and advancement. This is opening up rich opportunities for companies to spearhead growth by leveraging their access to a diverse talent pool. While global diversity of the labor force is good and beneficial for companies to enhance creativity and drive innovation, the same also challenges long held traditional business ideas and assumptions. Companies are being forced to effect major structural reorganizations spanning all key areas of business operations, marketing, talent recruitment and retention functions.
Even from a business standpoint, the case for diversity in workplace is overwhelming given its ability to foster innovation, creativity and empathy in ways that homogeneous environments can never do. As markets evolve to become more competitive than ever before and the business environment gets tougher amid the crisis, companies need to remain alert, aware, agile and responsive to remain afloat, profitable and successful. To be successful in a world that is constantly changing, companies need to be leading the change rather than responding to it. Companies with more diverse teams and inclusive are better able to lead change than those with a more homogeneous workforce. A strong organizational culture and robust structural foundation are critical for achieving agility that comes from internal strength. Diverse companies earn 2.5 times higher cash flow per employee and inclusive teams are productive by over 35%. High-diversity environments and all-inclusive culture has clear benefits and advantages.
Yet, global DEI initiatives are particularly challenging to successfully implement and measure. Achieving real equality and inclusion is a challenging task and over 65% of employees are of the opinion that their managers do not foster an inclusive environment. Achieving greater diversity in the workplace is relatively easier as it represents the mix or the make-up of an entity. However, the inclusion piece of the puzzle is more complex and ensuring the same is immensely tough as it involves integration of the contributions, presence and perspectives of different groups of people into the environment. Inclusion is all about making the mix work together as a cohesive whole by respecting, welcoming and valuing the diversity of every individual`s unique background, experiences, race, ethnicity, sexual orientation, gender identity, faith, tradition, and most importantly perspectives. An inclusive culture allows for collaborative daily learnings, full freedom to decide and experiment, provides excellent mobility across the organization, and encourages long term thinking. Diversity without inclusion can create a toxic culture and similarly inclusion without diversity can create an uncreative and infertile environment where a company can stagnant.
SELECT PLAYERS
Affirmity; AllenComm; Artesian Collaborative, LLC; Atrixware, LLC; Berkshire; CABEM Technologies, LLC; CTM Unlimited; Deloitte; DiversityResources.com Inc; HR Learning Center LLC; HR Unlimited, Inc.; HR Works, Inc.; Ideal; International Multicultural Institute; Korn Ferry; OutSolve; Peak Performance, Inc.; PeopleScout; PRISM International, Inc.; PwC Advisory Co., LLC; Spectra Diversity LLC; Trupp HR, Inc.
SEGMENTS
» Segment (Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment, Other Segments)
GEOGRAPHIES
» World » USA » Canada » Europe » France » Germany » Italy » UK » Rest of Europe » Asia-Pacific » Rest of World
TABLE OF CONTENTS
I. METHODOLOGY |
II. EXECUTIVE SUMMARY |
1. MARKET OVERVIEW |
Influencer Market Insights |
Diversity and Inclusion (D&I) – Global Key Competitors Percentage Market Share in 2022 (E) |
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E) |
Diversity & Inclusion In The Workplace: A Fact Check |
Humanity’s Struggle With Diversity. Why is it so Hard to Achieve Equality? |
Table: This is What We Are: % Share Breakdown of World Population by Race |
Table: It Makes Sense to Look for Cultural Survival & Importance in the Continued Use of Traditional Languages & Dialects: Global Number of People Speaking Native Languages as of the Year 2021 |
Table: The World is Truly a Global Village: Breakdown of Ethnic Groups As a % of Total Population of Select Countries |
Table: Prevailing Corporate Sentiments on Diversity & Inclusion (In %) |
Labor Globalization is the New Reality |
Globalization Triggers Migration of Skilled Labor to Developed Countries |
Table: Attracting & Retaining Globally Mobile Skilled Migrants is the New Norm: Immigrant Workers as % of Total Labor Force in Developed Countries |
The Current State of Diversity in the U.S., A Land of Cultural Diversity |
What Does this Mean for Companies? It Means the Dawn of a New Era of D&I Is Upon the Corporate World |
Table: How Are Top Companies Currently Scoring on the Diversity & Inclusion Front: Breakdown of Score as of the Year 2021 |
As Economic Conditions Toughen, Diversifying DNA To Elicit Tangible, Creative Outcomes Is the Only Way for Companies to Survive |
What’s the Challenge? |
EXHIBIT 7: A Strong Yet Exceedingly Patchy & Uncertain Recovery Shaped by New Variants Comes Into Play: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022 |
Now is the Time for Reimagining the Post Pandemic Organization & for Workforce Planning to Achieve Competitive Advantage Post-COVID-19 |
Table: Corporate Roles & Opportunities for Diversity & Inclusion is Increasing by the Day: % Increase in Diversity & Leadership Roles & Titles on LinkedIn 2015 Vs 2021 |
EXHIBIT 9: It’s Only the Marginalized Who Appreciate the Value of Business Diversity: % of White People & People of Color Who Believe Business Diversity Is Not Crucial for Professional Success |
What We Know & What We Don’t: A Review |
Importance of Diverse Workforce & Diversity in Recruitment is What Every HR Department Knows |
Table: Here’s Evidence that Workplace Diversity Attracts Top Talent: % of Job Seekers Who Consider Diverse Workforce Before Accepting Job Offers |
Table: Want to Increase Profitability Then Its Time to See How Diverse Your Workforce Is: Revenue Performance of Companies With High & Low Diversity Scores |
Economic Benefits of Diverse Workforce & Inclusive Work Environment Are Well Acknowledged Facts |
Including ALL in the Fold, Here’s What Companies Do Not Know |
A Recap of Challenges Plaguing Successful Implementation of D&I Programs |
Symptoms of a Workplace Lacking D&I |
Microaggression, the Often Overlooked Yet Critical Symptom of a Non-Inclusive Work Environment |
So What Can Companies to Do to Achieve their D&I Goals? |
Implement D&I Best Practices in the Workplace |
Acknowledging the Fact that Inclusive Leadership Vital to Success |
Never Underestimate the Role of Manager Training & Bias Awareness in Achieving D&I Goals |
Identifying & Addressing D&I Challenges |
2. FOCUS ON SELECT PLAYERS |
3. MARKET TRENDS & DRIVERS |
Diversity Hiring Picks Up as Millennial and Gen Z Job Seekers Prefer Companies with Workplace Diversity |
Table: Global Workforce Composition: % Breakdown of Male Vs Female Employees as of the Year 2021 |
Table: Global Workforce Composition: % Breakdown by Race & Ethnicity as of the Year 2021 |
Table: Gender Disparity of People in Leadership Role Continues to Remain: Gender of People in Managerial & CEO Roles in Fortune 500 Companies as of the Year 2021 |
Racial Discrimination Still Remains Rife in Workplaces in Europe & North America |
Table: Despite the Fact Diversity is Beneficial for a Company, the Reality is that Corporate Leaders Remain White & Male: Representation of Workforce in the U.S. by Role, Gender & Race as of the Year 2021 |
What is Racial Discrimination? |
Racism Remains the Bitter Reality Despite Laws |
Slow Progress: Racism Continues to Survive & Thrive |
Sexism & Racism: A Tough Combination for Women of Color |
Ways to Effectively Deal with Racial Discrimination at Workplaces |
Female Empowerment Still Remains Weak as Evidenced by Representation in Governments/Public & Corporate Sector |
Table: Top Reasons Why Women Continue to be Under Represented in Companies & Politics Worldwide |
A New LGBTQ Workforce is Here! Are We Ready to Create a More LGBTQ Inclusive Workplace? |
Table: Composition of LGBTQ Workforce (In %) by Age Group as of the Year 2021 |
Table: % of LGBTQ Workforce Who Experience Discrimination in the Workplace |
Important Role of Employee Resource Groups (ERGs) in Achieving Diversity in the Workplace |
Technology Comes to the Aid of D&I Implementation |
Using AI to Eliminate Biases |
4. GLOBAL MARKET PERSPECTIVE |
World Recent Past, Current & Future Analysis for Diversity and Inclusion (D&I) by Geographic Region - USA, Canada, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Spending in US$ Million for Years 2020 through 2027 and % CAGR |
World 7-Year Perspective for Diversity and Inclusion (D&I) by Geographic Region - Percentage Breakdown of Value Spending for USA, Canada, Europe, Asia-Pacific and Rest of World Markets for Years 2021 & 2027 |
World Recent Past, Current & Future Analysis for Employee Resource Groups (ERGs) by Geographic Region - USA, Canada, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Spending in US$ Million for Years 2020 through 2027 and % CAGR |
World 7-Year Perspective for Employee Resource Groups (ERGs) by Geographic Region - Percentage Breakdown of Value Spending for USA, Canada, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027 |
World Recent Past, Current & Future Analysis for External Partnerships by Geographic Region - USA, Canada, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Spending in US$ Million for Years 2020 through 2027 and % CAGR |
World 7-Year Perspective for External Partnerships by Geographic Region - Percentage Breakdown of Value Spending for USA, Canada, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027 |
World Recent Past, Current & Future Analysis for Training & Development by Geographic Region - USA, Canada, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Spending in US$ Million for Years 2020 through 2027 and % CAGR |
World 7-Year Perspective for Training & Development by Geographic Region - Percentage Breakdown of Value Spending for USA, Canada, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027 |
World Recent Past, Current & Future Analysis for Recruitment by Geographic Region - USA, Canada, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Spending in US$ Million for Years 2020 through 2027 and % CAGR |
World 7-Year Perspective for Recruitment by Geographic Region - Percentage Breakdown of Value Spending for USA, Canada, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027 |
World Recent Past, Current & Future Analysis for Other Segments by Geographic Region - USA, Canada, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Spending in US$ Million for Years 2020 through 2027 and % CAGR |
World 7-Year Perspective for Other Segments by Geographic Region - Percentage Breakdown of Value Spending for USA, Canada, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027 |
The Current State of Diversity in the U.S., A Land of Cultural Diversity |
III. MARKET ANALYSIS |
UNITED STATES |
Diversity and Inclusion (D&I) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E) |
USA Recent Past, Current & Future Analysis for Diversity and Inclusion (D&I) by Segment - Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments - Independent Analysis of Annual Spending in US$ Million for the Years 2020 through 2027 and % CAGR |
USA 7-Year Perspective for Diversity and Inclusion (D&I) by Segment - Percentage Breakdown of Value Spending for Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments for the Years 2021 & 2027 |
CANADA |
Canada Recent Past, Current & Future Analysis for Diversity and Inclusion (D&I) by Segment - Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments - Independent Analysis of Annual Spending in US$ Million for the Years 2020 through 2027 and % CAGR |
Canada 7-Year Perspective for Diversity and Inclusion (D&I) by Segment - Percentage Breakdown of Value Spending for Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments for the Years 2021 & 2027 |
EUROPE |
Diversity and Inclusion (D&I) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E) |
Europe Recent Past, Current & Future Analysis for Diversity and Inclusion (D&I) by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Spending in US$ Million for Years 2020 through 2027 and % CAGR |
Europe 7-Year Perspective for Diversity and Inclusion (D&I) by Geographic Region - Percentage Breakdown of Value Spending for France, Germany, Italy, UK and Rest of Europe Markets for Years 2021 & 2027 |
Europe Recent Past, Current & Future Analysis for Diversity and Inclusion (D&I) by Segment - Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments - Independent Analysis of Annual Spending in US$ Million for the Years 2020 through 2027 and % CAGR |
Europe 7-Year Perspective for Diversity and Inclusion (D&I) by Segment - Percentage Breakdown of Value Spending for Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments for the Years 2021 & 2027 |
FRANCE |
Diversity and Inclusion (D&I) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E) |
France Recent Past, Current & Future Analysis for Diversity and Inclusion (D&I) by Segment - Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments - Independent Analysis of Annual Spending in US$ Million for the Years 2020 through 2027 and % CAGR |
France 7-Year Perspective for Diversity and Inclusion (D&I) by Segment - Percentage Breakdown of Value Spending for Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments for the Years 2021 & 2027 |
GERMANY |
Diversity and Inclusion (D&I) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E) |
Germany Recent Past, Current & Future Analysis for Diversity and Inclusion (D&I) by Segment - Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments - Independent Analysis of Annual Spending in US$ Million for the Years 2020 through 2027 and % CAGR |
Germany 7-Year Perspective for Diversity and Inclusion (D&I) by Segment - Percentage Breakdown of Value Spending for Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments for the Years 2021 & 2027 |
ITALY |
Italy Recent Past, Current & Future Analysis for Diversity and Inclusion (D&I) by Segment - Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments - Independent Analysis of Annual Spending in US$ Million for the Years 2020 through 2027 and % CAGR |
Italy 7-Year Perspective for Diversity and Inclusion (D&I) by Segment - Percentage Breakdown of Value Spending for Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments for the Years 2021 & 2027 |
UNITED KINGDOM |
Diversity and Inclusion (D&I) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E) |
UK Recent Past, Current & Future Analysis for Diversity and Inclusion (D&I) by Segment - Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments - Independent Analysis of Annual Spending in US$ Million for the Years 2020 through 2027 and % CAGR |
UK 7-Year Perspective for Diversity and Inclusion (D&I) by Segment - Percentage Breakdown of Value Spending for Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments for the Years 2021 & 2027 |
REST OF EUROPE |
Rest of Europe Recent Past, Current & Future Analysis for Diversity and Inclusion (D&I) by Segment - Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments - Independent Analysis of Annual Spending in US$ Million for the Years 2020 through 2027 and % CAGR |
Rest of Europe 7-Year Perspective for Diversity and Inclusion (D&I) by Segment - Percentage Breakdown of Value Spending for Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments for the Years 2021 & 2027 |
ASIA-PACIFIC |
Diversity and Inclusion (D&I) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E) |
Asia-Pacific Recent Past, Current & Future Analysis for Diversity and Inclusion (D&I) by Segment - Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments - Independent Analysis of Annual Spending in US$ Million for the Years 2020 through 2027 and % CAGR |
Asia-Pacific 7-Year Perspective for Diversity and Inclusion (D&I) by Segment - Percentage Breakdown of Value Spending for Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments for the Years 2021 & 2027 |
REST OF WORLD |
Rest of World Recent Past, Current & Future Analysis for Diversity and Inclusion (D&I) by Segment - Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments - Independent Analysis of Annual Spending in US$ Million for the Years 2020 through 2027 and % CAGR |
Rest of World 7-Year Perspective for Diversity and Inclusion (D&I) by Segment - Percentage Breakdown of Value Spending for Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments for the Years 2021 & 2027 |
IV. COMPETITION |
Total Companies Profiled: 120 |
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