To put it simply, promoting diversity and inclusion is the right thing to do. From a qualitative point of view, it seems like a diverse and inclusive workplace would result in a more successful business, but does the data support it?
The good news is that the answer is yes! We still have some work to do when it comes to diversity and inclusion in the workplace, but at least we have the proof that there are hard and fast benefits.
- Many studies, including one from Credit Suisse, have found links between improved performance and increased gender diversity in senior management ranks.
- McKinsey found that companies in the top quartile for gender diversity are 15 percent more likely to have financial returns above the national industry median. Companies in the top quartile for ethnic diversity are 35 percent more likely to have financial returns above the industry median.
- In the U.S., for every 10 percent increase in racial and ethnic diversity on the senior-executive team, earnings before interest and taxes (EBIT) rise 0 .8 percent. (McKinsey)
- Having women in board positions is positively linked to the organization’s economic growth and social responsiveness (source)
- Companies that are effective at creating inclusion outperform those that are not in the following categories: Customer satisfaction (+39%), Productivity (+22%), Profitability (+27), Turnover (-22%).
What positive impact has a diverse workforce made at your workplace?
Download this collection of case studies to see how six leading organization are incorporating diversity and inclusion into their corporate cultures.