1、Untapping the true potential of Belgian workforce diversity A priority for senior leadership and societyOctober 2022By Konstantinos Apostolatos,Christophe Nauts,Margot Bruynseels,Judit David and Benoit DeforcheBoston Consulting Group partners with leaders in business and society to tackle their most

2、 important challenges and capture their greatest opportunities.BCG was the pioneer in business strategy when it was founded in 1963.Today,we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholdersempowering organizations to grow,build sustainable competi

3、tive advantage,and drive positive societal impact.Our diverse,global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change.BCG delivers solutions through leading-edge management consulting,technology and design,and corporate and

4、digital ventures.We work in a uniquely collaborative model across the firm and throughout all levels of the client organization,fueled by the goal of helping our clients thrive and enabling them to make the world a better place.BCG brings strong commitment to DE&I,advancing companies to drive measur

5、able change.Google is a world leader in technology and focuses on improving the way people interact with information.Our mission is to organise the worlds information and make it universally accessible and useful.Through products and platforms like Search,Maps,Gmail,Android,Google Play,Google Cloud,

6、Chrome,and YouTube,Google plays a meaningful role in the daily lives of billions of people and has become one of the most widely-known companies in the world.Google is a subsidiary of Alphabet Inc.Google is committed to creating a diverse and inclusive workforce.Our employees thrive when we get this

7、 right.We aim to create a workplace that celebrates the diversity of our employees,customers,and users.We endeavor to build products that work for everyone by including perspectives from backgrounds that vary by,amongst others,race,ethnicity,social background,religion,gender,age,disability,sexual or

8、ientation,veteran status,and national origin.Contents04|Investing in DE&I generates business value 06|Belgian workforce holds untapped DE&I potential 10|Without action,CEO roles will continue to be occupied by white men14|Leadership does not effectively foster DE&I yet 18|There is no one-size-fits-a

9、ll diversity program 22|Greater diversity benefits all2 UNTAPPING THE TRUE POTENTIAL OF BELGIAN WORKFORCE DIVERSITYBOSTON CONSULTING GROUP X GOOGLE 3Executive summaryBelgian society is becoming increasingly diverse,supported by ongoing efforts to promote diversity,equity,and inclusion(DE&I).The same

10、 progress,however,is not reflected in the Belgian workplace.Diversity within enterprises and among entrepreneurs is significantly lower compared to Belgian society overall,and it is critically lacking amongst senior leadership teams.We have found this to be the case across both SMEs and large corpor

11、ations.The existing disparity between diversity in Belgian society and the workforce represents a missed societal and economic opportunity for businesses.As a society,everyone should be given the same opportunity to enter and progress in the workplace,and in leadership positions.Beyond this,there ar

12、e also tangible benefits from investing in DE&I,with studies demonstrating an increased ability to attract and retain talent,as well as enhanced financial,innovation and ESG performance.Without prompt and meaningful action,the next generation of leaders is likely to lack diversity as well.Today,only

13、 9%of CEOs and 18%of Executive Committee roles are taken up by women.We should expect up to 6x more female CEOs based on female representation among masters degree graduates.Diversity tends to be higher in support functions,but these roles represent less direct paths to Executive Committees or CEO r

14、oles.Similar observations on the lack of gender and cultural diversity are also observed among Belgian entrepreneurs.Only half of employees today indicate that their company has DE&I programs in place,the effectiveness of which is ques-tionable:less than 1/3rd of targeted employees have benefit-ed f

15、rom current diversity programs in place.A strong contrib-utor is senior leadership teams consistently underestimating the obstacles faced by minority groups,while simultaneously overestimating the progress that is made.Action is required to drive real change,but there is no one-size-fits-all as the

16、most effective initiatives differ by target group:while greater flexibility,remote working and wellbeing are ranked as the most important factors for women,mem-bers of the LGBTQ+community and people of colour benefit more from inclusive facilities,anti-discrimination policies and diverse career path

17、s.These findings are based on a unique survey of over 1,000 respondents of varying gender,age,colour,sexual orientation,company size,industry,seniority level and language.While we have strived to include as many dimensions as possible,we recognize that there are many more that constitute diversity.T

18、he goal of this study is to create a platform for constructive discussion on the many opportunities to strengthen DE&I in Belgian society and its workforce.4 UNTAPPING THE TRUE POTENTIAL OF BELGIAN WORKFORCE DIVERSITYInvesting in DE&I generates business valueThe existing disparity between diversity

19、in Belgian society and the workforce represents a missed societal and economic opportunity for Belgian businesses.As a society,everyone should be given the same opportunity to enter and progress in the workplace,and in leadership positions.Increased DE&I investments in businesses also prove to resul

20、t in increased attraction and retention of valuable talent,as well as in enhanced financial,innovation and ESG performance.DE&I boosts talent attraction and retention.Attract-ing young and diverse talent is undoubtedly a major business benefit.Skill scarcity and talent shortages are a pressing conce

21、rn for businesses seeking to remain compet-itive,so being attractive to highly capable young talent is of the utmost importance.Our survey reveals that younger talent values DE&I three times more than the older generation when selecting a new employer,and talent from minority backgrounds value it tw

22、ice as much as the general workforce.BOSTON CONSULTING GROUP X GOOGLE 5Retaining valued talent is equally important as attracting new talent.DE&I is a key factor that influences retention,as evidenced by the fact that more than 40%of resignations among employees from minority backgrounds are driven

23、by the absence of an inclusive workplace culture.(Exhibit 1)Enhanced financial,innovation and ESG performance are also significant benefits that result from increased DE&I investments.International studies have proven that DE&I investments pay off.Diverse leadership teams profit from+19pp higher inn

24、ovation revenues1,boost EBIT margins by as much as+9pp1,and the EBITDA margin by+2pp.2The results of this international study seem to be confirmed in Belgium.Among Belgiums 30 largest compa-nies,those with more diverse leadership teams have+2pp higher EBITDA margins compared to less diverse compa-ni

25、es.3 Additionally,these top Belgian companies with more diverse leadership teams also achieved 6%higher ESG scores on average.4Exhibit 1|Investing in DE&I within companies is crucial to attract and retain young,diverse talentHow we define diversity,equity and inclusionDiversity is the variety of hum

26、an differences,incl.origin,gender,race,cultural background,sexual orientation,and others and is apparent in num-bers and data.Equity is about creating fair and equal access,opportunity,and advancement for everyone by offering differentiated support to each individual.It enables diversity and inclusi

27、on by recognizing and supporting individual needs.Inclusion relates to the degree of involvement and empowerment of all people,including the perceptions and experience of working at an organization.Inclusion unlocks the power of diversity by ensuring varying perspectives are brought to light.1.BCG r

28、esearch:“How diverse leadership teams boost innovation”(2018)2.Credit Suisse research:“The CS Gender 3000 in 2021 broadening the diversity discussion”(2021)3.Analysis based on comparing the EBITDA margin of each company with its 5 closest industry peers to account for industry-specific margins,and l

29、abelling leadership teams with 20%women as more diverse(35%of set).4.ESG score extracted from Refinitiv(formerly Thomson Reuters),based on 600+company metrics,accounted for industry specifics,leading to a score between 0-100.Younger talent value DE&I 3 times more when choosing a new employer vs the

30、older generation13xMinority talent value DE&I 2 times more when choosing a new employer vs the general workforce22xNon-inclusive culture influenced job resignations for 40%of minority talent240%Attraction and retention of young,diverse talent1.Younger refers to 19-24 year-olds,older to 45+;2.Minorit

31、y includes non-white and open LGBTQ+employeesSource:BCG Belgian Diversity survey 2022(N=1012)6 UNTAPPING THE TRUE POTENTIAL OF BELGIAN WORKFORCE DIVERSITYThe Belgian workforce holds untapped DE&I potentialBelgiums societal DE&I efforts and successes have not yet been sufficiently reflected in the wo

32、rkforce.Both the overall workforce participation and the represen-tation of women,people of colour,different ethnicities and the LGBTQ+community falls below that of non-minority groups in key leadership roles.Belgiums long history and robust track record of protecting minority groups is testimony to

33、 the countrys potential to drive greater workforce diversity as well.Two key examples of societal breakthroughs in Belgium include the 1981 anti-discrimination law,and the fact that in 2003,Belgium was the second country globally to legalise same-sex marriage.In more recent times,the latest federal

34、government5 was the first to achieve gender parity,while also introducing over 100 new actions to support LGBTQ+acceptance.These actions address(i)improving societal knowledge,(ii)establishing an inclusive government,(iii)easing access to healthcare,and(iv)acting on discrimina-tory violence.BOSTON C

35、ONSULTING GROUP X GOOGLE 7Diversity in the workforceBelgian employment rate for women is 8pp lower than for men.This is in sharp contrast with the leading country in Europe,Sweden,where the gap is only 5pp.6 Given that women account for 51%7 of the Belgian popula-tion this gap represents a significa

36、nt part of the workforce.Similar observations are seen in terms of ethnic diversity8.The participation of foreign-born people in Bel-gian employment is approximately 13pp lower than that of native-born people.This equates to a 60%foreign-born employment rate,which is about 5pp below the European ave

37、rage.Despite similar disparities in employment rate between foreign-born and native-born in neighbouring countries like The Netherlands(15pp.gap),Germany and France(both 12pp.gap),the overall employment rate of foreign-born people is the lowest in Belgium.9(Exhibit 2)Despite Belgiums relative progre

38、ssiveness on LGBTQ+challenges compared to other EU countries,merely 28%of the Belgian community state that they feel at ease regarding their identity in the workplace.This is only slightly above the European average of 23%.10 In contrast,35%of people feel they can be very open in everyday life,makin

39、g Belgium the 4th highest ranked country in Europe after Denmark(45%),The Netherlands(43%),and Sweden(38%).Recent BCG research on LGBTQ+inclusivity reveals that 35%feel that coming out in the workplace is a disadvan-tage to their careers,which is significantly higher than the international 24%averag

40、e.This alarming data is indicative of the significant work that needs to be done to support the experience and participation of the LGBTQ+communi-ty in the Belgian workforce.Exhibit 2|Belgium lags behind on employment rate for foreign-born people compared to European average5.De Croo I6.Eurostat Emp

41、loyment and activity by sex and age-annual data(2020)7.Statbel Population by place of residence,nationality(Belgian/non-Belgian),marital status,age and gender(2020)8.While we recognize it does not capture the full extent of the relevant group of people,throughout the report nationality and origin we

42、re used as proxy data for people of colour and of diverse ethnic background9.BCG publication“Why the First Year Matters for LGBTQ+Employees”(2021)10.Survey by the European Union Agency For Fundamental Rights(N=139,799,LGBTI members aged 15+)Employment rate(%)Source:Eurostat Migrant integration stati

43、stics labour market indicators(2020)100500Switzerland8579Iceland8377Netherlands8267Germany8370France7361Belgium736065EU averageemployment rate for foreign-born peopleNative-bornForeign-born8 UNTAPPING THE TRUE POTENTIAL OF BELGIAN WORKFORCE DIVERSITYDiversity in management teamsThere is limited dive

44、rsity in the top 100 largest com-panies headquartered in Belgium,which include both large enterprises as well as SMEs11 across a wide range of industries.It remains a space dominated by white hetero-sexual men aged over 55.At present,very few Belgian CEOs publicly state that they are a member of the

45、 LGBTQ+community,which is comparable to the reality we see in the United States for example,where only four out of the Fortune 500 CEOs have come out as LGBTQ+members.In Belgian politics we do see positive changes occurring,with several politicians coming out openly.In contrast to gender,colour and

46、sexual orientation,it should be positively noted that across management teams,the representation of people that have a non-Belgian background(35%)is actually in line with Belgian society.12Across Executive Committees,only 18%of positions are taken up by women,and merely 2%by non-white individu-als.1

47、3 For CEO roles,the results are even more striking,with only 9%of Belgian CEO positions held by women,despite them accounting for 51%of the Belgian population.In terms of age,55%of existing CEOs are older than 55,while this age range comprises only 33%of the active working population.14(Exhibit 3)In

48、 Boards,we see greater diversity,with 34%of positions taken up by women.This appears promising at face value,but it is merely a case of mandatory representation,given that since 2019 all public Belgian companies are obliged to have at least a one third representation of women on their boards.The cur

49、rent board compositions comply with this regulation(which shows that quotas can work),but there have been no initiatives demonstrated to exceed the man-datory percentage.While we see a clear disparity in terms Exhibit 3|Leadership in Belgian companies is non-diverse,especially for CEO roles11.SMEs a

50、re defined as companies with less than 1,000 employees12.Statbel,Diversity according to origin in Belgium(2022);considering both Belgians with foreign background and non-Belgians13.Comparing this number to the general workforce and Belgian society is challenging as colour is typically not(allowed to

51、 be)tracked in Belgium,while we recognize it does not capture the same group of people,throughout the report nationality and origin were used as proxy data for people of colour and of ethnical diverse backgroundTop 100 companies HQed in BESource:BCG research based on management teams of top 100 Belg

52、ian companies by revenueCEOs2%Male not white89%Male white1%Female not whiteExecutive Commitee1%Male not white81%Malewhite1%Female not whiteBoard4%Male not white8%Female white17%Female white33%Female white62%Male white1%Female not whiteBOSTON CONSULTING GROUP X GOOGLE 9of gender representation,we fou

53、nd no difference in the number of board mandates accumulated by women versus men.Similar quotas are not in place for other aspects of diversi-ty,such as in the case of people of colour,who account for only 5%of Belgian board memberships.This share is higher compared to CEO and ExCom positions,but st

54、ill remains low.For both Executive Committees and Boards,diversity is lacking in critical leadership positions.In Executive Committees,diversity is mostly represented in support functions like HR,legal,and finance,where 25%of the roles are held by women.This is in sharp contrast to the 11%females re

55、presented in P&L owning roles who manage the revenue and expenses of a department or entire organiza-tion,which can be considered stepping-stones to future CEO roles.While 34%of all Board positions are filled by women,only 10%of Chairman/woman roles are taken up by women,demonstrating another signif

56、icant area of underrepresenta-tion.(Exhibit 4)The ten different chairwomen who are at the head of Belgian companies are at Port of Antwerp Bruges,Melexis,Bpost,Ethias,National Bank,Milcobel,ZNA,SWDE,H.Essers and the VRT.It should be noted that sever-al are either politically appointed or partly unde

57、r govern-ment control.Exhibit 4|Diversity in leadership is higher in support functions and non-Chairman/Chairwoman roles14.Eurostat,population by age group and sex(2021);Age group 55-69 compared to total number of people between 20 and 69 years old Female whiteMale whiteFemale not whiteMale not whit

58、eExecutive CommitteesFemaleTotal:296Total:3262%18%Non-whiteTop 100 companies HQed in BESource:BCG research based on management teams of top 100 Belgian companies by revenuesP&L-owning rolesSupport roles87%2%1%10%74%1%1%24%Boards34%Female5%Non-whiteChairman/ChairwomanBoard membersTotal:93Total:88983%

59、60%6%3%0%2%11%35%10 UNTAPPING THE TRUE POTENTIAL OF BELGIAN WORKFORCE DIVERSITYWithout action,CEO roles will continue to be occupied by white menZooming in on gender diversity,we see a fundamental lack of women amongst the current Belgian leaders and entrepreneurs who are next in line to be CEOs.Fai

60、lure to rectify this will yield as little diversity in manage-ment teams tomorrow as we observe today,preventing companies from unlocking the economic and societal value diverse and inclusive workforces bring.Based on education,we would expect six times more women in CEO roles.When looking end-to-en

61、d at the path towards becoming CEO,we observe that education is not the driving factor,as women are awarded 56%of mas-ters degrees.15 Based on this we would expect six times more women in CEO positions than there are today.Nei-ther does choice of field of study fully explain such dispari-ty,as women

62、 also represent 35-40%of the more special-ised degrees in Economics and STEM.It is apparent that women advancement to CEO positions is impaired due to their underrepresentation in Executive committees and more specifically P&L owning roles.BOSTON CONSULTING GROUP X GOOGLE 11Diving deeper into the di

63、sproportionately low representation of women in CEO roles,we investigated historic data to determine whether the trends we have observed are evolving,or if the existing barriers are truly systemic.With the majority of Belgian masters degrees increasingly held by women,one would expect to see an upti

64、ck in female CEOs.Half of all Belgian masters degrees,however,were already held by women more than 20 years ago,and there has been no significant change in the num-ber of women in CEO positions in the meantime.As early as 2000-2001,around 25%of STEM masters degrees were already held by women.16These

65、 findings reinforce the view that the vast underrepre-sentation of women in CEO roles today is not related to a time lag between education and the required seniority level to become CEO.The poor diversity in leadership teams is not caused by a lack of adequate education,but by sys-temic historical i

66、ssues that cause diverse,well-educated talent to not reach crucial P&L owning roles and ascending to CEO.(Exhibit 5)Exhibit 5|Women are underrepresented x6 in CEO roles15.Extrapolated from Flemish government,“Hoger onderwijs in cijfers”(2021-2022)16.Flemish government,STEM actieplan cijfergegevens(2

67、021)%women in.Note:university enrollments extrapolated from Flemish universities assuming similar statistics in WalloniaSource:Flemish government-Hoger Onderwijs in cijfers(2021-2022)x6x4CEOP&L owning ExcomExcomMaster degree in Economics&STEMMaster degreePopulation9%11%17%35-40%51%56%12 UNTAPPING TH

68、E TRUE POTENTIAL OF BELGIAN WORKFORCE DIVERSITYThe same challenges are also observed amongst entrepreneurs.Focusing on female entrepreneurship in Belgium,the participation of women is currently signifi-cantly lower than that of men.In 2020,just 1 in 10 women in Belgium were entrepreneurs,while 2 in

69、10 men pursued the route.Shedding further light on the divide in this seg-ment,only 22%of female entrepreneurs have managed to build their businesses to the point of employing others,versus 31%of male entrepreneurs.17Several factors could be driving this disparity,of which confidence is an important

70、 one.Research reveals that 58%of women fear that they do not have the required management skills,as opposed to 48%of men.In addition,9%more men say they see opportunities to start a new business.18 According to global research,this disparity is driven further by the fact that women typically have le

71、ss access to funding,due to a lower likelihood that venture capital is backing diverse entrepreneurs.19The difference in womens networks vs mens is another factor that could limit the growth potential of enterprises established by women.Women typically have more women in their network than men,and g

72、iven that women are less likely to be entrepreneurs,a womans network is likely to contain fewer fellow entrepreneurs and female role models.Only 45%of women indicate that their network contains an entrepreneur,contrasted by 52%of men.20 This provides them with less opportunity to infor-mally learn f

73、rom others who have started businesses.These statistics are a clear testimony that additional support needs to be provided to equip women with the confidence and opportunities they need to start business-es,and to grow from entrepreneurs towards becoming Belgian CEOs of the future.Turning our focus

74、to diversity in origin,we see that only 20%of entrepreneurs are foreign-born,a statistic that contrasts their representation in society.While this is higher than the European average of 12%,and in line with Austria and Sweden,there is still a 15pp gap between Belgians and non-Belgians who start busi

75、nesses.This shows that more must be done to help remove existing barriers to entry.Some key factors include a potential lack of vital language skills,as well as a lack of recognition of degrees and capabilities.21Diversity is crucial to drive innovation and new ideas.Without diversity,you often reac

76、h decisions much faster,but you miss the richness of different opinions.Actively embracing these different viewpoints can be a challenge for leaders however,as it makes decision processes less harmonious.Fostering diversity is a long-term effort.Diversity initiatives drive change in the long-term,wh

77、ile employ-ees sometimes come with(too)high short-term expec-tations,resulting in a perception of ineffectiveness.A common pitfall is trying to solve all diversity challenges at the same time,while it is in fact prioritization and persistence that are the key factors to success.There is no one-size-

78、fits-all when addressing DE&I.It is important to identify the most pressing challenges at a sufficiently granular level in order to develop tailored initiatives.What works well in one part of the organization,might not work at all in another.I have found a continuous and data-driven approach to Anet

79、te Bhm CHRO bpost How to foster diversity in large companies be most effective.The key is to listen,discover what challenges are present where,and assign resources on the ground engaging in focus groups to reach targeted solutions.Allyship stands out as an essential requisite to create a truly diver

80、se organization.While often well-intended,minority groups do not want to feel different or be singled out by specific programs.In-stead,creating a culture of“allies”who change their own behaviour to foster inclusion is much more effec-tive.It is crucial for the ones not naturally part of the minorit

81、y group to stand up,and push the initiatives forward all together.“Creating harmony in your management team by selecting similar people results in easier decision making in the short term,but foregoes the value of diverse viewpoints”17.Fgov economie“Vouwelijk ondernemerschap-Internationale vergelijk

82、ing van de tewerkstellings-en ondernemerschapsgraad bij vrouwen”(2022)18.Research by VOKA&UGent“Ondernemerschapscultuur en ondernemend gedrag in Vlaanderen:situatie 2020”(2021)19.Harvard Business Review-Why women get less funding(2017)20.Research by VOKA&UGent“Ondernemerschapscultuur en ondernemend

83、gedrag in Vlaanderen:situatie 2020”(2021)21.FOD Economie ondernemerschap en diversiteitBOSTON CONSULTING GROUP X GOOGLE 1314 UNTAPPING THE TRUE POTENTIAL OF BELGIAN WORKFORCE DIVERSITYLeadership does not effectively foster DE&I yetIn order to foster diversity in the workforce and allow individuals t

84、o reach their full potential,targeted DE&I programs are being established by companies.Despite these positive efforts,we observe that only half of the respondents indicate their company has implemented a diversity program.This result can mean two things:either only half of the companies have actuall

85、y implemented a program,or employees are unaware of them.Those that have been set up often do not deliver the desired impact,with only 10-35%of targeted employees benefiting.Our research shows that those responsible for diversity pro-grams struggle to create impact,as they frequently under-estimate

86、the challenges to DE&I in their company.At the same time,many of them overestimate the progress that has already been made.BOSTON CONSULTING GROUP X GOOGLE 15Exhibit 6|DE&I programs are not widely implemented,and those that are in place miss impactThere is a widespread lack of DE&I programs,and thos

87、e in place are not impactful.Across both large enterprises and SMEs,we found that only 52%of respon-dents indicate their company has a program for either gender,racial or LGBTQ diversity in place.Merely 18%indicate there are active programs for all three categories,which is well below leading countr

88、ies such as Sweden,Finland,and The Netherlands.Moreover,only 10-35%of concerned employees have expe-rienced any personal benefit from the current DE&I pro-grams in place.In the case of gender programs,which are the most widely implemented,only 13%of women say they have personally benefited from thes

89、e.On the other hand,LGBTQ+programs are implemented the least but are considered more effective,with 34%stating that they are beneficial.(Exhibit 6)Source:BCG Belgian Diversity Survey Belgium 2022(N=1012)%of target group benefiting from specific program%of respondents who indicated yes%of respondents

90、 who indicated no52%My company has a diversity program in place50036%42%27%GenderRaceLGBTQ+50013%35%34%GenderRaceLGBTQ+I have personally benefited from the diversity programOnly 52%of survey respondents indicate their company has a diversity program in placeGender and race programs most frequently i

91、n placeOnly 13-35%of targeted employees indicate they have benefited from current diversity programsMy company has a program in place to foster race/gender/LGBTQ+diversity16 UNTAPPING THE TRUE POTENTIAL OF BELGIAN WORKFORCE DIVERSITYExhibit 7|Leaders overestimate the effectiveness of current program

92、s,while challenges remain underestimatedWhy are existing DE&I programs so ineffective?Is it surprising if one considers the non-diverse nature of current leadership teams?We observe that leaders typically overestimate the effectiveness of current programs,while challenges remain underestimated.Limit

93、ed awareness and past experience with diverse teams prevents leadership teams from understanding the real challenges involved,and what it takes to drive meaningful change.Consistent with this,we found that underrepresented groups feel there are much greater barriers to diversity in the work-place th

94、an those in leadership positions do.In the case of women,34%agree that there are obstacles in their organisa-tions that hamper gender diversity,while just 23%of hetero-sexual men over the age of 45 see it the same way.We observe even greater contrasts when focusing on barriers to racial and LGBTQ+di

95、versity,with disparities of-52%and-60%respectively.Another key observation is that 58%of senior level employ-ees stated that their companies have become more diverse in the past three years,while in contrast,just 43%of junior level employees shared this view.This indicates that there is an overestim

96、ation of program success amongst current leadership teams.(Exhibit 7)There are obstacles to gender,race/ethnicity,LGBTQ+diversity and inclusion in my company”My company has become more diverse over the past 3 years”Source:BCG Belgian Diversity Survey Belgium 2022(N=1012)Hetero men aged 45+Respective

97、 minority groupJunior level employeeSenior level employee%Respondents who agree obstacles exist for.%Respondents who agree60034%23%Women-32%48%23%Racially/ethnically diverse people-52%43%17%LGBTQ+-60%43%58%+35%BOSTON CONSULTING GROUP X GOOGLE 1718 UNTAPPING THE TRUE POTENTIAL OF BELGIAN WORKFORCE DI

98、VERSITYThere is no one-size-fits-all diversity programThe actions to unlock the true DE&I potential of the Belgian workforce must focus both on companies and entrepreneurship.With distinct actions to be taken for each.Unlocking DE&I potential in companiesTo make their programs truly effective,leader

99、s have to look holistically at their actions across three major themes:(i)transparency and accountability,(ii)inclusive communication and advocacy and(iii)support structures.It should be noted that the most effective actions differ by diversity group.In order to reach full potential,leaders need to

100、be aware of the specific requirements of each group before acting.Any meaningful change to unlock the true potential of DE&I in Belgium starts with leadership.By truly under-standing and acknowledging the existing challenges,leaders can enhance the effectiveness of their existing DE&I pro-grams or b

101、uild new ones.Given the wide range of actions one could take,the key question is:“where do we start?”BOSTON CONSULTING GROUP X GOOGLE 19Leaders should look holistically at actions across three major themes.BCG has developed a comprehen-sive framework with over 300 potential actions across(i)transpar

102、ency and accountability,(ii)inclusive communi-cation and advocacy and(iii)support structures.Together,these have the potential to drive impact across recruiting,retention and advancement of valuable diverse talent.Transparency and accountability focuses on building an understanding of the current DE

103、&I progress within a com-pany by measuring and reporting on key DE&I KPIs.This involves tracking promotions and considerations for pro-motion rates by diversity groups at all levels of the compa-ny.Annual pay equity auditing and regular pulse checks on employee experience should also be implemented,

104、en-abling companies to track trends and disparities linked to minority groups,and help define key DE&I priorities.It builds on that understanding to set clear targets backed by financial implications,such as leadership bonuses.Inclusive communication and advocacy lifts taboos on diver-sity topics,he

105、lps to build understanding across the entire organization,and ensures messaging resonates with all employees,not just with those who are part of the majority group.Examples of advocating for DE&I through clear communication start with an open and safe dialogue between leadership teams and diverse gr

106、oups,establishing allyships for different minority groups,recognizing and promoting multicultural holidays or major events and voicing public support statements for equity causes.To improve communications,inclusive language should be used in all job postings,and clear guidance should be shared regar

107、ding the available benefits for all employees.Support structures ensure minority groups get the infrastruc-ture,knowledge,and network they need to not only do their job,but to also advance in their career.It ranges from offer-ing inclusive facilities such as prayer rooms,breastfeeding areas,and gend

108、er-neutral bathrooms,to building specific networks for minority groups as well as offering flexible work programs.Examples of this could include flexible hours,working from home,and wellbeing programs.The major themes outlined above should be embedded in the organisation though policies that support

109、 things like pay parity,anti-discrimination measures,and LGBTQ+friendly healthcare policies.This helps to ensure that actions do not depend on individuals,but are a truly inte-grated part of the organization.DE&I actions targeting employees should focus on more than just recruitment and retention,bu

110、t also on advance-ment.Companies must ensure that not only a more di-verse pool of employees is hired and retained,but that they also have the ability to advance their careers at the same rate and pace as non-minority groupsThere is no-one-size-fits-all solution.Our survey of the Belgian workforce i

111、ndicates that the perceived effectiveness of each action and program highly differs by target group.Respondents were asked to rank the five most impactful 20 UNTAPPING THE TRUE POTENTIAL OF BELGIAN WORKFORCE DIVERSITYactions according to them,both for programs that were in place in their workplace a

112、nd those that were not yet active.The actions deemed most effective overall were the options to work flexibly(e.g.,part time),as well as the option to work remotely and wellbeing programs(mental and physical).Despite wellbeing programs being useful for all,it does prove to be even more valuable for

113、minority groups,given the additional challenges they face,as well as the potentially higher access barriers to wellbeing activities outside of the workplace.22 When comparing these results by minority group,the top three selections resonate more with women than with peo-ple of colour(POC)and LGBTQ+m

114、embers of the workforce,which indicates that companies need to consider customiz-ing their solutions for each group.It also implies that no singular program can fully unlock the diversity potential of an organisation,but at least a handful of targeted actions and programs need to be put in place.(Ex

115、hibit 8)The main actions deemed most effective by women are the options to work flexibly(marked in top 5 by 35%of women vs 29%overall),the option to work remote(32%vs 25%)and well-being programs(both mental and physical,24%similar to overall).As women continue to typically take on more caretaking ro

116、les,they often prefer the option to work flexible hours or remotely so they can combine that role easier with their career.The typical balancing act of these responsibilities might also explain why women value wellbeing programs particularly highly.Considering the LGBTQ+community,the action deemed t

117、o have most impact is LGBTQ+friendly facilities and policies such as gender-neutral bathrooms,as well as non-binary choices on forms and surveys(marked in top 5 by 25%of LGBTQ+respondents vs 11%overall).Second are anti-discrimination policies(24%vs 22%overall),as they ensure fair treatment and the f

118、act that actions do not depend on individuals but are outspoken and embedded in corporate processes.The third most effective action is LGBTQ-friendly healthcare(22%vs 11%)such as adoption leave and coverage for same-sex partners,creating equal rights compared to straight people for major life events

119、.The LGBTQ+respondents consider LGBTQ+friendly facilities and policies such as gender-neutral bathrooms,as well as non-binary choices on forms and surveys(marked in top 5 by 25%of LGBTQ+respondents vs 11%overall)to have most impact.Second are anti-discrimination policies(24%vs 22%overall),as they en

120、sure fair treatment and the fact that actions do not depend on individuals but are outspoken and embedded in corporate processes.The third most effective action is LGBTQ-friendly healthcare(22%vs 11%)22.Forbes,The Essential Role Of Mental Health For A Diverse,Inclusive Workplace(2020)23.The Masterca

121、rd Index of Women Entrepreneurs(2021)Exhibit 8|DE&I programs are not a one size fits all and should be catered to the target minority groupWomenLGBTQ+POCOption to work remotelyWellbeing programs Option to work flexiblyAnti-discrimination policiesLGBTQ+friendly facilities and policiesAnti-discriminat

122、ion policiesLGBTQ+friendly healthcare policiesEnabling divers career paths across roles and regions Wellbeing programs BOSTON CONSULTING GROUP X GOOGLE 21such as adoption leave and coverage for same-sex partners,creating equal rights compared to straight people for major life events.Actions deemed m

123、ost effective by people of color include anti-discrimination policies(marked in top 5 by 26%of people of color vs 22%overall),enabling diverse career paths across roles and regions(22%vs 16%)and the option to work remotely(22%vs 25%).Again,anti-discrimination policies ensure fair treatment and the f

124、act that actions do not depend on individuals but are outspoken and embed-ded in corporate processes.Enhancing diversity in entrepreneurshipFemale entrepreneurship is also a key factor in driving workforce diversity.Not only is this a potential path to-wards CEO positions,but it will also promote fu

125、ture eco-nomic growth.Research23 shows that economies where woman entrepreneurship flourishes have five common factors and conditions:(i)a high rate of womens enrol-ment in tertiary education;(ii)easy and fair access to finance;(iii)strong government driven small business programs;(iv)high represent

126、ation of women in leadership roles,and(v)positive attitudes towards entrepreneurship in general.Unlocking the potential of diversity to address the war for talent in SMEs.The war for talent is ever so present for Belgian SMEs:there is a structural im-balance between vacancies and finding the right c

127、andi-dates.Minority groups are often overlooked but can be critical to secure survival of our economy.SMEs face additional unique barriers compared to large corporations.A recent survey from Unizo among its members in Flanders and Brussels indicated that the lack of knowledge of Dutch or French rep-

128、resents the largest barrier for a more diverse workforce in SMEs.While many are open to hire people from a migration background(93%)or above the age of 55(80%),more than 70%of survey respondents indicate they would likely not hire someone who does not master Dutch.Action is required to bring DE&I to

129、 the forefront in SMEs.Entrepreneurs wear many hats at the same time;they are CEO,CFO,CHRO,etc.,preventing them from focusing on all fronts at once.Unizo has launched ETAB(Elk Talent aan Boord)to help them set and implement an inclusive HR approach e.g.,by designing specific learning paths and ensur

130、ing perfor-mance reviews etc.are designed in an inclusive way.“With the war on talent being more present than ever before now is the time to embrace the potential of diversity.It is the only way to secure long term growth and wellbeing!”Danny Van Assche Managing Director Unizo Diversity is critical

131、to solve SMEs biggest challenge 22 UNTAPPING THE TRUE POTENTIAL OF BELGIAN WORKFORCE DIVERSITYGreater diversity benefits allBelgiums societal DE&I efforts and successes have not yet been reflected in the workforce,with both overall workforce participation and representation in key leadership positio

132、ns of women,people of colour and LGBTQ+below that of non-minority groups.Without meaningful change,challenges will persist.Current leadership teams are attempting to put DE&I programs in place to drive progress,but the existing lack of diversity is hampering their ultimate effectiveness,as a predomi

133、nantly white male leadership does not fully understand and recognize the hurdles minority groups are facing.When we look more closely at gender diversity in leadership positions,we see that the lack of women in leadership teams is due to the fact that women are not well represented in roles that are

134、 most likely to lead to future CEO positions(P&L owning roles and entrepreneurial roles).The disruption of non-diverse leadership teams and ineffective diversity programs will empower minority groups in the wider workforce,and in decision-making roles.With improved representation,our society becomes

135、 more inclusive whilst opening up routes towards higher workforce participation.At the same time,significant busi-BOSTON CONSULTING GROUP X GOOGLE 23ness value is unlocked due to the fact that investing in DE&I has proven to boost talent attraction and retention.It is also proven to enhance financia

136、l,innovation and ESG performance.Leaders must address this issue holistically by taking specific actions across(i)transparency and accountability,(ii)inclusive communication and advocacy and(iii)support structures.Actions should look beyond recruitment and also include retention and advancement.The

137、most effec-tive actions differ by group,with the option to work flexible hours being most effective for women,LGBTQ+friendly facilities and policies ranked highest by the LGBTQ+com-munity,and anti-discrimination policies for people of colour(POC).In order to achieve the true potential of a more dive

138、rse Belgian workforce,leaders must be acutely aware of the specific requirements of each group before acting and define priorities to focus their efforts.While all meaningful changes start with leadership,it is in our collective best interests to work together to create a more diverse and inclusive

139、workforce,and a concerted effort is required to do so.Political leaders should show the example within the scope of their responsibilities.I have made it a priority to integrate the dimension of DE&I in a travers-al way in the coordination of the recovery plan;from consulting with organizations in d

140、rafting the plan(e.g.,National Superior Council of people with disabilities)to an assessment by the Institute for Gender Equality of the outcome of each project.In the monitoring of the plan,we are committed to report on specific minority groups for eligible projects,e.g.,collecting data by gender,a

141、ge,etc.for all training and reskilling projects.Driving change for Women in STEM is a priority on the Science Policy front.We aim to promote the role of women in scientific fields and encourage them to apply.We do this for example by visiting schools,accompanied by female scientists,to share their e

142、xperi-ence with young students and introduce the students to these role models.Recent trends show us that we are making progress:in 2021,the European Space Agency(ESA)recruitment campaign had 23%Belgian female applicants while in 2008 it was only 16%.“The underrepresentation of women in STEM is not

143、a fatality and we must continue to fight for a fair representation of women in these fields”Thomas Dermine State Secretary for Science Policy,Recovery Program and Strategic Investments at Belgian Federal Government How political leaders can advance diversity24 UNTAPPING THE TRUE POTENTIAL OF BELGIAN

144、 WORKFORCE DIVERSITYAbout the AuthorsKonstantinos Apostolatos is a Managing Director and Senior Partner at the Brussels office of BCG.You may contact him at Apostolatos.KMargot Bruynseels is a Consultant at the Brussels office of BCG.You may contact her at Bruynseels.MBenoit Deforche is an Associate

145、 at the Brussels office of BCG.You may contact him at Deforche.BChristophe Nauts is a Managing Director and Partner at the Brussels office of BCG.You may contact him at Nauts.CJudit David is Growth Program Senior Manager at the Brussels office of BCG.You may contact her at David.JAcknowledgmentsThe

146、authors thank Google Belgium,specifically Thierry Geerts,Andy Serdons and Laura Dings for sharing their passion for the topic,their collaboration,and valuable contributions to the report.These rich and engaged discussions have allowed the authors to push their thinking further.They would also like t

147、o thank Thomas Dermine,State Secretary for Science Policy,Recovery Program and Strategic Investments at Belgian Federal Government and his cabinet,Anette Bhm,CHRO at bpost and Danny Van Assche,Managing Director UNIZO for sharing their personal and/or their organizations view on diversity in the Belg

148、ian workforce.Finally,the authors thank Julien Schmetz,Laura Rochdi,Emma Lein and Pamela Solis for their important contributions to this work,and Tom Ball for writing support.For information or permission to reprint,please contact BCG at .To find the latest BCG content and register to receive e-alerts on this topic or others,please visit .Follow Boston Consulting Group on Facebook and Twitter.Boston Consulting Group 2022.All rights reserved.11/22