What is the Meaning of Equity in a Workplace?
Sometimes people confuse between the terms equity and equality and use them interchangeably. While the two terms may sound similar, there is a significant difference between them.
Workplace equity refers to policies instituted that support inclusion and diversity in an organization. The term is built on the principle of providing fair opportunities to all employees as per their specific needs regardless of their gender, culture, or region.
It is a unique form of equality that does not allocate the same amount of opportunities and resources to everyone. However, those with limited access to the organization’s resources, get more support to capitalize on the fair advantage of opportunities distribution within a specific enterprise.
On the other hand, equality let all employees enjoy the same resources in an organization, irrespective of the pre-existing barriers they may face. The aspect dictates that all workers who are at the same level should have an equal distribution of resources, opportunities, and money. By embracing the practice, you stand to build a strong company culture. However, equality doesn’t address the issue of unfair status quo or underrepresentation.