Diverse groups bring new perspectives, challenge the status quo and offer insight on how initiatives can reach a wider audience. With February being our Women in Business month, we looked at why diversity is crucial for organizational success going forward. Employees are drawn to organizations that view diversity as a primary pillar in their company. Employers are getting a similar message; our 2020 Q1 CEO Confidence Index, sent to over 1000 CEOs and business owners across Canada, reported that when it comes to diversity, 48% of their company’s inclusion efforts are targeted at attracting and retaining top talent. The below articles explore the value of adding diversity to your business model.
It’s critical to think about your entire board, their professions and the perspective they can bring to your business. Banks, for example, are commonly made up of attorneys and accountants. With a group of leaders, who have similar backgrounds, a company will continue to be stagnant in today’s business climate. It’s critical to incorporate diversity of backgrounds and variety of vantage points, enabling a company to make more well-rounded, dynamic decisions.
Beliefs about gender diversity create a self-fulfilling cycle; countries and industries that view gender diversity as important capture benefits from it. Those that don’t, don’t. HBR conducted a study across thousands of firms, spanning various industries and with operations in multiple countries to analyze the impact of diversity on productivity.
As environmental consciousness continues to be a topic of focus (see global consumers seek companies that care about environmental issues), a University of Calgary study found that organizations that appoint women to their board of directors boost their environmental performance. Of the 857 firms analyzed, read why select companies outperformed their counterparts.
The growing importance placed on employee diversity and inclusion is due to its increasingly well-documented relationship to business outcomes. If your organization is focused on diversity and inclusion going forward, they must be a top-to-bottom business strategy – not simply an HR initiative. This article analyzes statistics behind diversity and offers initiatives that will lead to an inclusive workforce.
Ellen Nicolaisen, the founder of Nikita Hair – an international hair salon group with over 150 locations across Europe with expansion in the U.S., shares her five-step guide how female leaders can rise to senior roles. This article links to a study on the effectiveness of having women as leaders in an organization; read and share with your team to elevate female employees to management positions.