Diversity and inclusion lead to more innovation, more opportunities for all, better access to talent, and better business performance.
1. Diversity and inclusion is quite simply the right thing to do
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It’s about creating equal opportunities for everyone and we can all see signs of progress. But the statistics make it equally clear that there’s still a long way to go.
Take gender equality. Women account for 60% of college graduates but only 3% of leaders worldwide. Women and girls also represent two-thirds of the world’s illiterate population. That’s a movement led by UN Women, which aims to mobilise 1 billion men and boys in support of gender equality.
2. It’s good for business
Companies that embrace diversity gain higher market share and a competitive edge in accessing new markets a ‘diversity dividend’ first quantified in a recent study by the center for Talent Innovation . Business leaders increasingly recognise this. Recently 85% of the CEOs were surveyed whose companies have a formal diversity and inclusiveness strategy said it’s improved their bottom line.
3. If organisations don’t manage diversity properly, they’ll get left behind
Workplace equality is in the mind for businesses, governments, regulators, society, and most important of all the vital talent that will drive their future success. Companies that don’t focus on diversity are not moving with the times .77% of CEO said they already have a diversity and inclusion strategy or plan to adopt one in the next 12 months and the talent they want to recruit supports this view: other PwC research shows that 86% of female and 74% of male millennials consider employers’ policies on diversity, equality and inclusion when deciding which company to work for.
4. Diversity plugs the talent gap for businesses – and is also good for society
Today, one of the biggest concerns for CEOs worldwide is not having the right people to
run and grow their businesses. So they’re starting to look to diversity as a way to address this issue.
Good workplace diversity doesn’t just benefit the businesses themselves, but also the economies they operate in. This shows that increasing the level of female employment could help raise GDP by 5% in the US, 11% in Italy, and 27% in India and that’s before you start to quantify the positive social impacts that would also arise.
5. Diversity and inclusion bring us all opportunities to learn from others and grow
Working with people from different backgrounds and with different experiences and working styles, we learn and get another view. Diverse views make for better decisions, and thus drive a high-performance culture. The benefits of diversity are clear and this does not mean that embracing diversity is always easy.
Adopting the right pitch with respect to talent management
• Talent driven organisations endeavouring to win the talent war adopt a long term, holistic and systemic view of their talent, leveraged from an integrated process of how to think and deal with their talent from an overall organisational perspective.
• As a concrete expression of this posture they craft a strategic talent plan which time wise is closely aligned to and in direct support of their business strategy.
• Without such a strategic posture, talent management in an organisation will be fragmented, reactive and driven by short term, operational talent needs.
Establishing a convincing business case strategic talent management in the organisation owned by all stakeholders
• Adopting the strategic talent posture, a convincing business case for talent management must