In a PwC study, more than 80% of participants said an employer’s policy on diversity, equality and inclusion is an important factor when deciding whether or not to work for that company.
BENEFITS OF INCLUSION
We’re not just blowing smoke! Here are a few proven ways your company can benefit from an inclusive environment…
New markets and customers -- A Gartner study found that gender-diverse and inclusive teams outperformed their less inclusive counterparts by 50%. Plus, according to a McKinsey & Company report, diversity fosters innovation and creativity through a greater variety of problem-solving approaches, perspectives and ideas, and diversifying your team can boost productivity by 35%.
Innovative products and services -- "Diversity enhances creativity. It encourages the search for novel information and perspectives, leading to better decision making and problem solving." (Katherine W. Phillips, Ph.D., Columbia Business School)
Financial performance -- A study by the Boston Consulting Group found companies with above-average total diversity had 19% higher innovation revenues and 9 percentage points higher EBIT margins than companies with below-average diversity.
Attract and maintain talent -- 70% of respondents in a Yello survey said they would consider looking for a new job if their employer didn’t demonstrate a commitment to diversity.
Internal/external brand loyalty -- In a Deloitte survey, 83% of millennials reported higher levels of engagement when they believed their company fosters an inclusive culture.
Community contribution -- According to a Glassdoor survey, 67% of candidates seek out diverse companies. Result: A McKinsey study found GDP could increase 26% by equally diversifying the workforce.
Does your company provide an inclusive environment? Are you sure? What do your employees think?
Call FIG Strategy & Consulting to schedule a DEI audit and find out for sure.
1-800-834-4946 for a free consultation, or click here.