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InSmartBudget > Startups > Building A Business That Thrives In Uncertain Economic Times

Building A Business That Thrives In Uncertain Economic Times

News Room By News Room July 18, 2023 8 Min Read
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Operations Officer of Epoch Education, Inc. Leader in Organizational & Structural Transformation. Expert Facilitator for ED&I.

The last several years haven’t been easy. We’ve faced a global pandemic, supply chain issues, a deeply polarized nation and, most recently, rapidly rising inflation. Taken together, these things have led to a difficult economic climate for large and small businesses alike. The bottom line, it’s been a scary time, and the indicators seem to suggest that the bumpy ride is far from over.

No matter what industry you’re in, surviving and thriving in times like these requires innovation, resilience and adaptability. One of the best ways to build a business with those specific traits is to create and foster a culture of true diversity, equity and inclusivity.

The data supports this. Companies that are ethnically diverse, for example, are 35% more likely to outperform their peers. The same research found that gender-diverse companies are 15% more likely to outperform. And organizations whose management teams have the highest representation of women have far greater corporate financial performance than those whose teams have the lowest female representation.

Despite all the research supporting the value of inclusivity in the workplace, however, many organizations struggle to make DE&I a reality. After working with clients in a wide range of industries, it’s become clear that one of the biggest reasons for this is that while many people recognize the need for more diversity and inclusion, they don’t know how to achieve it.

Luckily, there’s a solution to this problem, and it’s far simpler than you may realize. By utilizing two tools—Compassionate Dialogue™ and the RIR Protocol—you can equip everyone at your organization to safely and effectively work through differences, address microaggressions and engage in difficult conversations. The end result is a deeply inclusive workplace where people are empowered to use their unique strengths, experiences and mindsets to innovate and solve problems together, rather than drowning in the kind of fear and disengagement that blocks creativity, productivity and engagement.

Organizations Are People First

It’s tempting to think of diversity and inclusion as one more box to be checked. In other words, require your employees to complete a quick course, make sure they pass the “final” with a score of 70% or better and then add a checkmark to that requirement in their personnel files. Rinse and repeat annually.

If you want to create a culture where inclusion is more than a buzzword, though (and if you hope to reap its benefits), you need to go deeper. Organizations are made up of people, after all, and people need more than a cookie-cutter course once a year to make real and lasting change. They need a way to think through their own implicit biases (whatever those are) about diversity and inclusion. And they need a way to safely address potentially triggering comments and situations.

This brings us back to Compassionate Dialogue. Compassionate Dialogue is a framework that, when implemented properly, builds trust, safety and belonging within groups and organizations. Ultimately, the goal of this framework is to give everyone in your organization a way to understand one another and, if a problem occurs between two or more of your people, to offer a way to reach a resolution together.

If this feels easier said than done, don’t worry. By following a simple formula—the RIR (recognize, interrupt, repair) Protocol—you and your employees can safely respond to any situation. The protocol has two huge benefits: First, it can be used by anyone, even if the person they’re interacting with isn’t using the protocol. Second, it is perfect for situations where someone is frustrated, triggered or overwhelmed by a comment or action they don’t know how to handle.

This second benefit is especially crucial because it is in these difficult situations that people often blow up, swallow their anger (only to have it fester inside until it erupts) or write the other person off. By giving people a way to avoid these responses, the protocol naturally drives down discord and instead boosts morale, engagement, productivity and profits.

The RIR Protocol

To help you understand how to use the RIR Protocol, let’s pretend someone in your organization says something that offends you. First, recognize how their comment makes you feel. Does your body tense up? Does your gut tighten? Do you feel hot or cold? Don’t judge what comes up—just notice it. Getting in touch with your feelings will help ensure you aren’t controlled by them.

Second, interrupt. This is key to opening up a dialogue. Interrupting can also help you develop your understanding of what really happened. Interrupting can be as simple as asking the other person to explain why they said or did the thing that triggered you. One caveat to this step: Make sure you stay genuinely curious as you go through this stage—this is key to ensuring that both parties feel safe to explore what happened.

Finally, repair. The goal of this step is to get more information and demonstrate empathy, not to get the other person to agree with you. There are lots of ways that you might engage in repair—have a follow-up conversation with the other person, share your own experience with them or even invite them to grab a quick coffee. Whatever action you take, keep in mind that this step is important in creating a culture where everyone is safe to be themselves.

Move Forward, Together

We have seen it time and again: When you learn to engage in Compassionate Dialogue and utilize the RIR Protocol, inclusivity becomes far easier. That’s because, rather than spending time trying to avoid conflict by creating an artificially homogeneous environment, you create a space where people can both have their own thoughts and feel supported in expressing themselves.

As a result, your (diverse) team can work together cohesively. Innovation can skyrocket because people feel psychologically safe to be themselves. When misunderstandings arise, they won’t derail your people or your organization. And best of all, your organization will be able to survive, thrive and grow—even in these challenging economic times.

Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?

Read the full article here

News Room July 18, 2023 July 18, 2023
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