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Global Diversity and Inclusion (D&I) Industry

Global Diversity and Inclusion (D&I) Industry

  • Publish Date:October 2022

  • Number of Pages:325

  • Report ID:6219616

  • Format:PDF

  • Publisher:Global Industry Analysts

$ 5800

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Abstract:

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Global Diversity and Inclusion (D&I) Market to Reach $17.2 Billion by 2027
Global Diversity and Inclusion (D&I) market, estimated at US$7.5 Billion in 2020 is projected to reach US$17.2 Billion by 2027, registering a compounded annual growth rate (CAGR) of 12.6% over the analysis period 2020-2027. United States represents the largest regional market for Diversity and Inclusion (D&I), estimated at US$3.4 Billion in 2020. United States is forecast to emerge as the fastest growing regional market with a CAGR of more than 13% 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 Competitors (Total 120 Featured)
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.

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?
This is What We Are: % Share Breakdown of World Population by Race
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
The World is Truly a Global Village: Breakdown of Ethnic Groups
As a % of Total Population of Select Countries
Prevailing Corporate Sentiments on Diversity & Inclusion (In %)
Labor Globalization is the New Reality
Globalization Triggers Migration of Skilled Labor to Developed
Countries
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
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?
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
Corporate Roles & Opportunities for Diversity & Inclusion is
Increasing by the Day: % Increase in Diversity & Leadership
Roles & Titles on LinkedIn 2015 Vs 2021
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
Here?s Evidence that Workplace Diversity Attracts Top Talent: %
of Job Seekers Who Consider Diverse Workforce Before Accepting
Job Offers
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
Global Workforce Composition: % Breakdown of Male Vs Female
Employees as of the Year 2021
Global Workforce Composition: % Breakdown by Race & Ethnicity
as of the Year 2021
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
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
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?
Composition of LGBTQ Workforce (In %) by Age Group as of the
Year 2021
% 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
Table 1: 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

Table 2: 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

Table 3: 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

Table 4: 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

Table 5: 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

Table 6: 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

Table 7: 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

Table 8: 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

Table 9: 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

Table 10: 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

Table 11: 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

Table 12: 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

III. MARKET ANALYSIS

UNITED STATES
The Current State of Diversity in the U.S., A Land of Cultural
Diversity
Diversity and Inclusion (D&I) Market Presence - Strong/Active/
Niche/Trivial - Key Competitors in the United States for 2022
(E)
Table 13: 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

Table 14: 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
Table 15: 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

Table 16: 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)
Table 17: 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

Table 18: 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

Table 19: 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

Table 20: 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)
Table 21: 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

Table 22: 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)
Table 23: 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

Table 24: 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
Table 25: 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

Table 26: 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)
Table 27: 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

Table 28: 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
Table 29: 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

Table 30: 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)
Table 31: 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

Table 32: 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
Table 33: 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

Table 34: 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

Methodology

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The data is gathered from a wide range of sources, including industry reports, government statistics, and company financials. This data is then analyzed and cross-referenced to ensure its accuracy and reliability. Next, primary interviews are conducted with industry experts and key stakeholders to gather their insights and perspectives on the market. This information is then combined with the data collected to provide a complete picture of the market. Macro-economic factor analysis is also carried out to understand the impact of external factors on the market. Finally, country-level data analysis is performed to understand the market dynamics in specific regions and countries.

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