Identity economics is an area of economics that brings a social context to economic analysis. The research on identity economics was started by George Akerlof and Rachel Kranton. Identity economics actually makes the greatest connection with sociology and similar social sciences because identity means to improve institutions and society as a whole. Identity is owned by every person on earth and it actually answers the question "who am I", and the answer to this question is received by persons from the groups to which they belong. Identities are found everywhere and are different (there are personal, but also social identities). Until recently, it was important for organizations to achieve only organizational goals, and today the focus is on employees. The elements of identity are social categories, norms and ideals, and identity utility. People divide themselves and others into social categories, norms represent unwritten rules relating to the acceptable and expected behavior of group members, while the ideal is to imagine something or someone in a completely perfect character that serves as a role model to whom one aspires. Identity utility is a gain when actions are aligned with norms and ideals and a loss if they are not. The most common division of norms is the formal one (law-written norms and rules) and informal (unwritten rules passed down from generation to generation). A very popular topic today is diversity identity management in organizations, taking into account the fact that most successful organizations operate globally where diversity in the workplace is more common than ever and identities are more complex. When it comes to diversity, there is also the appearance of discrimination, prejudice, but also stereotypes and it is for this reason that the categorization and grouping of the social environment occurs. Empirical research on the importance of identity economy for management practice was conducted through an anonymous online survey. The results of the research indicate that it is necessary to invest in education – to raise awareness of discrimination and prejudice (how to reduce them) and to teach about ways to protect against discrimination and suppress discrimination (more information).