A global study has found that companies with greater cultural and gender diversity financially outperform companies with less diverse workforce.
Organisations with proportionally higher gender and cultural diversity on its executive teams were 33% more likely to outperform less diverse companies (McKinsey & Co., Delivering Through Diversity’, Jan 2018).
The study revealed the correlation was a global phenomenon with over 1,000 companies in 12 countries reporting similar data.
What can we learn from these results?
Firstly, the attributes of a more inclusive workforce go a long way in explaining how greater profit is linked to greater diversity.
Companies with a diverse workforce were able to attract top talent, enhance their customer focus, increase employee satisfaction and improve their internal decision making process, the analysis revealed.
An inclusive and culturally diverse workforce is able to voice differing opinions and perspectives, allowing for more thought-out ideas and ultimately, better decisions.
Having employees of different backgrounds enable businesses to relate to its multicultural customers and better strategies to focus on the unique requirements of each culture or ethnicity.
In our globalized and rapidly evolving workplace, diversity within an organization is no longer a ‘good to have’, it has become a ‘must have.’
Are you ready to unlock these benefits for your company to thrive in the modern economy? Start the conversation with us now.
We help employers meet their gender and cultural diversity objectives by connecting them to professional talent from all cultural backgrounds. Visit us at www.globalcq.com. Contact us at firstname.lastname@example.org