LEADERSHIP REVIEW: “THE BUSINESS CASE”
Why do companies decide to create and implement Diversity & Inclusion initiatives in their organizations? It is a journey that begins with the decision that a company makes to promote diversity & inclusion as part of their strategic planning process particularly as it affects their internal stakeholders (employees) and external stakeholders: customers, regulators, suppliers, and the communities where they live and conduct their businesses.
See how two major corporations value diversity.
The culture of an organization is its brand. First the whys?
- Improved retention
- Employee satisfaction tied to productivity and aligns with customer satisfaction
- Positive vs. Negative PR
- Prevention of lawsuits
- Market penetration and increased market share
- Supports compliance requirements
- Diversity and inclusion is the right thing to do and it is becoming a business imperative in today’s global economy
- 43% of companies offer holidays based on employees religious or cultural situations
- Racially diverse teams outperform non-diverse ones by 35%
- *Blind apps and resumes lead to 5X more women hired (*minimizes bias)
- Bilingual employees earn 10% more revenue
- Teams where men and women are equal earn 41% more revenue