10 Ways to Enhance DEIB in Compensation and Benefits

February 12, 2024
5 min read

In a dynamic and ever-changing workplace landscape, Diversity, Equity, Inclusion, and Belonging (DEIB) are vital to success and longevity. Businesses must scrutinize every facet of their operations to ensure they don’t fall behind.  The HR consulting experts at Next Level Benefits recommend the following ways to make sure your organization is at the top of your game when it comes to DEIB in your compensation and benefits offerings.

1. Conduct Internal Pay Equity Analyses

Detect and rectify potential discriminatory pay practices to foster a fair and inclusive compensation structure.

2. Communicate Financial Planning Resources

Ensure transparent communication of financial planning resources during significant events like pay raises, annual bonuses, or stock grants.

3. Address Social Determinants of Health

Understand how modifying and expanding employer-sponsored benefits can positively impact social determinants of health.

4. Diversify Health Service Providers

Ensure diversity among physical and mental health service providers, either through insurance or alternative benefits solutions.

5. Implement Gender-Neutral Communication

Foster inclusivity by using gender-neutral terms in all employee communications.

6. Vendor Pronoun Inclusivity

Mandate benefits vendors to use appropriate pronouns and non-binary terms when communicating with employees.

7. Select DEIB-Supportive Benefit Providers

Opt for benefits vendors, such as Included Health, that actively champion DEIB and the LGBTQ+ community.

8. Inclusive Paid Holidays

Recognize the importance of diversity by including paid days off for Martin Luther King Jr. Day and Juneteenth. Add floating holidays for personal observances.

9. Utilize Employee Resource Groups (ERGs)

Leverage ERGs to gather feedback on unmet needs and establish a task force for further research and action.

10. Participate in Corporate Equality Index

Join the Human Rights Campaign Foundation’s Corporate Equality Index and openly share the results.

By implementing these recommendations, your organization will not only comply with DEIB principles but also lead the charge in fostering an environment of true equality and belonging. Need help getting started? Contact the people consulting experts at Next Level Benefits to stay ahead in the pursuit of workplace excellence!

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