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Data-Driven Benefits to Diversity
Diversity and inclusion are hot topics in today’s business world, but many don’t realize that they are more than optics. Research has proven that a diverse talent pool is key to competitive advantage and economic success.
Diversity Attracts Top Talent
Aside from simply being the “right thing to do”, one of the core benefits of diversity is it’s importance to job seekers. In a survey by popular job search site Indeed, 77% of job seekers surveyed said that inclusion and diversity were very important factors when considering a company for employment.
Diversity Drives Innovation
Studies have also shown that a more diverse talent pool is pivotal to competitive advantage and economic success. Paul Wolf, SVP of HR at Indeed notes that “Diversity is integral to the ecosystem of a company, it enables an organization to innovate and adapt in a fast-changing environment. It’s a business imperative driving real business results.” And the data backs him up, showing that companies with more diversity in their leadership teams are more successful.
Diversity Drives Financial Success
Multiple studies from McKinsey & Company have shown that ethnic and gender diversity improves corporate financial performance. In fact, the numbers show that companies ranked in the top 25 percent in talent pool diversity are 35 percent more likely to have financial returns higher than their industry medians, numbers that make clear case that cultivating a healthy, diverse workplace not only improves company culture, but also leads to a robust bottom line.
Want to know more?
Listen in on Bloomberg as Vivian Hunt, managing partner at McKinsey & Co., talks about the business benefits that companies are seeing from increased workforce diversity. Plus, we’ve got more Stout takeaways and insight into diversity and cultivating inclusion.