10 Ways to Incorporate Diversity, Equity, Inclusion, and Belonging into Employee Compensation and Benefits

June 30, 2022
5 min read

With more and more employers making and keeping Diversity, Equity, Inclusion, and Belonging a top priority, there are many areas of the workplace to consider. Business leaders need to ensure they’re doing all they can to bring DEIB into their compensation and benefits offerings.

The 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.

  1. Conduct an internal pay equity analysis to detect potential discriminatory pay practices.
  2. Ensure financial planning resources are provided and adequately communicated to employees. Leverage these resources at key moments such as when a pay raise takes effect, an annual bonus is paid out, or stock grants come due.
  3. Understand the social determinants of health and how modifying and expanding employer-sponsored benefits program can affect change.
  4. Ensure there are diverse providers for physical and mental health services either through your insurance provider or through another benefits solution.
  5. Ensure gender neutral terms are used in all employee communication so as not to exclude any particular individual.  
  6. Require benefits vendors to use appropriate pronouns/non-binary terms when speaking with or communicating to employees.
  7. Use benefits vendors, like Included Health, that publicly support and champion Diversity, Equity, Inclusion, and Belonging and the LGBTQ+ community.
  8. Ensure your paid holidays include paid days off for Martin Luther King Jr. Day and Juneteenth. Add floating holidays so that employees can celebrate and observe times of the year that are special to them.
  9. Leverage Employee Resource Groups (ERGs) to solicit feedback on unmet needs and create a task force for research and action.
  10. Participate in the Human Rights Campaign Foundation’s Corporate Equality Index and share the results.
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