THE BUSINESS CASE BEHIND STRIVING TO ACHIEVE AND MANTAIN DIVERSITY
One dominant understanding shared by Hadley-Reynolds, our clients, and the diverse group of professionals whom we engage is this: diversity at all levels—up through executives—is and will increasingly be a key factor enabling leading organizations to think differently, act differently, and ultimately realize differentiated results for their customers, employees, shareholders, and others involved. Evidence shows this happening now.
A Recent Study by McKinsey & Company puts it well
We know intuitively that diversity matters.
It is also increasingly empirically clear that diversity makes sense in purely business terms. The latest studies find that companies in the top quartile for gender or racial and ethnic diversity are more likely to have financial returns above their national industry medians.
Companies in the bottom quartile of cultivating diversity and inclusiveness are statistically less likely to achieve above-average returns. And diversity is likely a competitive differentiator that shifts market share toward more diverse companies over time. Read more here…
—Excerpt from Why Diversity Matters, McKinsey & Company, January 2015
Other pieces that enlighten the business case for diversity:
Guess Who Doesn’t Fit In at Work, New York Times, May 30, 2015
Matt Damon Faces Online Backlash After Dismissing Diversity Behind The Camera in Hollywood, Washington Post, September 16, 2015