The CSRD requirements: Reporting on risks and opportunities
March 16, 2023
Countless studies have shown that diversity, equity, and inclusion improves not only the work quality but also fosters creativity.
In this brief article, we aim to explore the key benefits of creating inclusive workplaces and how we strive to achieve that here at Nexio Projects.
Why diversity, equity, and inclusion matters
Increased innovation and creativity
Research has shown that diverse teams lead to higher levels of innovation and creativity. A study by McKinsey found that companies with diverse executive teams were 33% more likely to outperform their industry peers in terms of profitability. Diverse perspectives and experiences bring fresh ideas, problem-solving approaches, and unique insights, fostering innovation within the company.
Enhanced financial performance
Companies that prioritise DEI have been found to achieve better financial performance. A report by Boston Consulting Group revealed that companies with diverse management teams had 19% higher revenue due to innovation compared to companies with less diversity.
Expanded talent pool and improved recruitment
Fostering a diverse and inclusive workplace attracts top talent from a wider pool. Companies that prioritise DEI are more likely to appeal to a diverse range of candidates, making it easier to attract qualified individuals from different backgrounds. This expands the talent pool and increases the chances of hiring the best candidates for the job.
Enhanced employee engagement and retention
Research from Great Place to Work found that diverse and inclusive companies have employee retention rates 5.4 times higher than non-inclusive companies.
Improved decision-making
Diverse teams are known to make better decisions. A study published in the Harvard Business Review found that diverse teams outperformed homogeneous teams in decision-making tasks by up to 87%. Diverse perspectives and backgrounds challenge cognitive biases, encourage critical thinking, and lead to more comprehensive and well-rounded decision-making processes.
DEI at Nexio Projects
Nexio Projects actively advocates for diversity, equity, and inclusion in the workplace. Diversity among our team members improves decision-making, bringing different perspectives and possible solutions to our attention.
We’ve been a diverse team since the very beginning of Nexio Projects so we had to make sure to have the right policies in place and the right procedures, to be a very diverse and especially inclusive workplace.
This is why we embrace a diverse workforce, to understand the needs of our customers and increase our specialism. We believe that enhancing diversity and inclusion in the workplace improves work quality and fosters creativity.
The numbers don’t lie. We have over 20 nationalities, as well as an equal gender balance, being our team composed of 53% women, of whom two are in executive positions. We promote women’s inclusivity in the workplace through our Women of Nexio Projects initiative, established in 2021.
Women in our company organise quarterly seminars and workshops addressing issues pertinent to gender-based discrimination and equality. In 2022, topics included “Women’s Health in the Workplace”, “Resilience”, and “Solidarity”.
Other pillars of our DEI strategy are:
Fair and equal recruitment
At Nexio Projects we guarantee a recruitment procedure that is fair, transparent and reduces unconscious biases. We utilise the Equalture platform, through which all candidates undergo a diversified selection process, testing their skills in several areas.
Wage equity
At Nexio Projects we guarantee equal pay for equal scope and contribution. Multiple studies have shown that one of the reasons why men have higher salaries than women is due to salary negotiations. As we want to promote gender equality, we do not negotiate pay increases.
Performance cycles
At Nexio Projects, we believe in fostering employee growth, development, and continuous improvement. To ensure that our employees are supported in their professional journey, we have implemented comprehensive Performance Cycles, designed to provide regular feedback, set goals, and encourage self-reflection.
Inclusive work culture
At Nexio Projects, we strive to create an inclusive workplace where team members are fully appreciated for the true version of themselves. As of 2024, we have started a Queer Circle, for employees who identify as a part of LGBTQIA+ community or an ally of this community to have a safe space where they can be themselves to the fullest extent.
Additionally, we create a workplace free of harassment, and discrimination to make all employees comfortable, providing awareness training and the necessary communication channels.
