by ANKA WITTENBERG
Originally published: February 15, 2017
More and more businesses are making a conscious effort to understand and promote the business benefits of diversity and inclusion. Their value does not lack external validation -- a recent McKinsey study shows that, “Companies in the top quartile for racial and ethnic diversity are 35 percent more likely to have financial returns above their respective national industry medians." And numerous other respected organizations around the world -- from Gallup to Credit Suisse ESG to PwC -- all provide strong evidence that link diversity to improved financial performance.
So, once we accept that the connection is clear, how do we start to improve corporate diversity? The first step is examining how we attract and hire diverse talent.
Often our greatest obstacle to embracing diversity and inclusion is not the proof of their value, but resistance to change -- both consciously and unconsciously. Tackling the obvious biases of others involves braving corporate and political turmoil and challenging the “status quo.” Typically, our organizational decision-making processes follow the way things have always been done.