Multiple studies of leading organizations have proven that diverse organizations perform better, have higher employee satisfaction, have better financial returns and are more innovative than the worst performing companies on diversity .
The financial dimensions
Analysis by McKinsey, a global consulting firm that has been researching the impact of diversity since 2015, shows that companies with the highest proportion of gender diversity in leadership teams were 25% more likely to have above-average profitability, compared to the companies that performed the worst in terms of diversity. The latest data is from 2019, from a study called “Diversity Wins”, which showed that companies with greater cultural diversity in their teams had 36% higher profits.
In the field of innovation
When employees “think their organization is committed to and supportive of diversity, and feel included,” their ability to innovate increases by 83%, according to a Deloitte study.
People of different genders, ages and abilities give a different perspective on the product or service that the company is already in the development stage. The participation of diverse groups increases the value of the team, and more and more companies understand this.
Better decisions
In a study commissioned by Forbes in 2017 that analyzed approximately 600 business decisions made by 200 different business teams in a wide variety of companies over two years, it was proven that inclusive teams make better business decisions up to 87% of the time. Teams that follow an inclusive process make decisions 2 times faster with half the number of meetings. Decisions made and executed by diverse teams lead to 60% better results.
Strong employer brand
Companies where diversity is clearly communicated are more attractive as an employer brand. 54% of female respondents and 45% of male respondents said they have researched whether a company had diversity and inclusion policies when deciding to accept a position, according to a report by PricewaterhouseCoopers.
Companies can take advantage of existing diversity by including more diverse employees in business decisions.
