The Business of Diversity
Of course there is a moral case for diversity – inclusion, extending opportunities for underserved, and broadening your own understanding. But there is also a tangible business case for diversifying your organization. McKinsey recently completed a study showing that companies that have gender and ethnic diversity within their leadership outperform their peers financially by more than 25%. It’s not about taking seats from the table, it’s about adding seats to the table.
Globalization, technology, and demographic shifts are three of the leading factors in the case for the business of diversity. With significant technology increases over the last few years, consumers can now do business anywhere in the globe! People naturally gravitate towards those that look, think and act like them, so if you’re not hiring people that represent the larger community, then at some point your employees and your customers are going to go somewhere else.
This is so important for white people to understand – diversity is not about taking seats from the table. It’s about adding seats and making room for a more well-rounded group.
The moral case for diversity is well-known and remains vital. As you learn more and more about the business of diversity, I hope you will decide to take your business to the next level. Top RANK is here to help, contact us for your free consultation.