DEI has become an important indicator for global enterprises, and how to truly implement it from policy to culture has become a tangible experience for employees at all levels is the core challenge faced by Taiwanese and international enterprises. The 2024 DBTA Diversity & Inclusion Vision Award brings together the perspectives of experts and scholars at home and abroad to bring the key to corporate governance in the era of science and technology.
The 2024 Diversity for Better Tomorrow Awards (DBTA) came to a successful conclusion on October 24, with nearly 100 business representatives and important VIPs from NGOs, businesses, government units and academia gathered to participate in the grand event and work together to create a vision for the common good.
There are 3 highlights of DEI practice in Taiwan: generational integration, international vision, and innovative thinking
The Diversity & Inclusion Vision Awards, organized by Wusi Media, have been held for the first time in 2022 and are now in their third session, with new awards such as "Best Family-Friendly Workplace", "Best Cross-generational Inclusion Enterprise", "Best DEI Enlightenment Award", and "Best Sustainable Development Contribution Award" this year, looking forward to discovering more companies' best practices in the DEI field.
In addition to being more diverse in the design of the awards, the judging team invited Professor Xie Yingzhe of the Institute of Science and Technology Management of National Tsing Hua University, Zhou Changxiang, General Manager of Ruizhe Management Consultants Co., Ltd., and Jaclyn Tsai, Chairman of the Asian Fintech Alliance, to gather the cooperation experience and academic insights between the industry and the government, in addition to commending excellent DEI enterprise practices, but also aligning with international trends to accelerate Taiwan to become a DEI indicator region in Asia.
Photo: (Front row, from left) Representative of Women's Rescue Foundation Huang Ziyan / CEO of Modern Women's Foundation Qiu Shuhua / Chairman of Asia Fintech Alliance / Zhou Changxiang, General Manager of Ruizhe Management Consultants Co., Ltd. / Professor Xie Yingzhe of the Institute of Science and Technology Management of National Tsing Hua / Zhang Weixuan, CEO of Wusi Media / and all the awardees
This year, more than 50 companies have registered for the award across 21 industries, of which local companies account for 62.5% of all applicants, which is the highest in the past, showing that DEI diversity and inclusion have taken root in Taiwan and gradually grown out of Taiwan's local DEI ecosystem.
The judging team also pointed out the important breakthroughs of Taiwanese companies in DEI policies, especially observing that local enterprises are gradually institutionalizing the cross-generational inclusion policy, and praised foreign companies for their active investment in DEI strategies, and constantly trying creative and diversified practices to provide reference for local companies and set a model for the industry.
From Big E to Big S, a new trend of DEI in the era of big sustainability
From the perspective of academic research, Professor Xie Yingzhe shared his observations on future trends with the distinguished guests. He pointed out that in the past, companies tended to pay more attention to E (Environment) when promoting ESG, but in the future, the trend will be more focused on S (Social) social responsibility, and TISFD (The Taskforce on Inequality and Social-related Financial Disclosures) will play an important role.
Picture: Xie Yingzhe, Professor of the Institute of Science and Technology Management, National Tsing Hua University
Zhou Changxiang, General Manager, also pointed out that TISFD will become a new guideline for corporate ESG reporting, prompting companies to be more transparent in their financial disclosures and strengthen their impact on society.
He also recommends that companies should integrate DEI into their decision-making and culture from the director level, and use sustainability committees and diversity indicators to achieve a more inclusive work environment that supports employees' mental health and work balance, thereby increasing employees' well-being and sense of belonging.
The era of great sustainability leads us to a different world.
Zhou Changxiang, General Manager of Ruizhe Management Consulting Co., Ltd
AI for DEI: Technology-driven DEI presents new challenges
Technological advancements have accelerated the drive for DEI, but they have also brought new challenges. As the Chair of the Asian Fintech Alliance, Jaclyn Tsai is the only woman to lead 14 countries to invest in financial and technological innovation.
Speaking at the ceremony, he pointed out that the promotion of new technologies can make the disadvantaged in the past no longer disadvantaged, for example, people with disabilities can do things that could not be achieved in the past with the help of new technologies. In the virtual world, people can play different identities and achieve ideals and goals that cannot be achieved in reality.
Photo: Jacy Chua, Chairman of the Asian Fintech Alliance
Jaclyn Tsai shared her forward-looking perspective, pointing out that in the future, the boundary between the virtual and the real will be more blurred, and how to allow everyone to maintain their true selves in the virtual world, and how to define fairness and justice in the virtual world will be questions that need to be pondered. He also emphasized that in order to achieve diversity and inclusion in technology, there must be a DEI concept and inclusive environment at the source of creators.
In order to achieve DEI in technology, the people who create new technologies must consider the value of inclusion, which is a responsibility from the bottom of their hearts.
Japanese scholars talked about the trend of DEI in Japan and looked forward to the exchange and sharing of cross-border experience between Taiwan and Japan
In order to provide a diverse international perspective, the organizer of this ceremony specially invited Hiromi Tanaka, associate professor of the Department of Human Development and Welfare at Osaka Public University in Japan, to share the trends and insights of DEI in Japan in the form of audio and video.
Hiromi Tanaka, Associate Professor , Department of Human Development and Welfare, Osaka Public University, Japan
Professor Hiromi Tanaka pointed out that the Ministry of Economy, Trade and Industry (METI) has launched the "Diversity Action Guidelines" tool to help companies improve their DEI practices in order to promote diverse talent management. However, there is still work to be done on issues such as the proportion of female executives and the empowerment of representative groups.
She also looks forward to learning and exchange between Taiwan and Japan, sharing ideas and practical experiences, supporting each other, and working together to build a future where everyone has the opportunity to thrive.
DEI must be driven both from the top up and from the bottom up.
Enterprises are implementing DEI and employees are not feeling it? Creating a sense of belonging is the key to the sustainability of talents
The "2024 Diversity and Inclusion Trend Report" conducted a two-way survey of employees and management, and received 1,079 corporate and 801 employee voices, and saw that enterprises still face challenges such as cognitive gaps, ineffective communication channels, and lack of a sense of belonging in DEI practices.
The survey report pointed out that there is a high gap between employees and enterprises in terms of satisfaction with policies and practices, and only 28.74% of employees are satisfied with the cultural policy of psychological safety and sense of belonging, and there is a difference of 29.96% between the satisfaction of employees and 58.70% of managers.
Photo: Guo Fuzhi, Chief Operating Officer of Wusi Media
On how to solve the problem of cognitive differences and sense of belonging, Guo Fuzhi, Chief Operating Officer of Wusi Media, pointed out that "effective empathy communication" is the key, and suggested that the management should try non-violent communication to help understand each other's needs and discuss solutions to the key problems. He also reminded that "the point is not to win or lose, but to create a win-win situation."
Inclusion is more sustainable than competition, and when everyone has a DEI concept, they can lead the organization to create sustainability.
Photo: Guo Fuzhi, Chief Operating Officer of Wusi Media
Make DEI a part of your culture
In this Diversity & Inclusion Vision Award, we not only saw the progress and breakthroughs of local Taiwanese enterprises in DEI practice, but also analyzed the role of DEI in the future world from different fields and international perspectives, and found that enterprises are facing practical challenges through data surveys. After the ceremony, many corporate VIPs still stayed on-site to exchange practical experience, and many companies promised to continue to promote DEI policies.
During the ceremony, the jury also expressed high praise for Wusi Media, and Professor Xie Yingzhe especially cited Wusi Media's innovation in the implementation of the DEI concept; Jaclyn Tsai also affirmed our efforts in the diversity and inclusion initiative and looked forward to continuing to move forward together. General Manager Zhou Changxiang also hopes that benchmark companies such as Wusi Media can serve as a model for learning and inspire more enterprises to move towards a more inclusive and diverse future.
In 2023, DEI has experienced a large-scale reaction in the United States, causing many enterprises and organizations to reflect on whether the practice of multiple values is in line with the original intention. In 2024, on the other side of the world, in Taiwan, there is a group of impact companies that are continuing to advocate for DEI for a better future.
We believe that the best practices of all companies will become an important nutrient for the DEI ecosystem, and we hope that these successful experiences will inspire more companies to take action to achieve a more diverse and inclusive workplace.