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#TechDiversity Discussion: Making Business Sense Out of Diversity
- on-demand event
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Recorded on September 18, 2020
McKinsey’s research shows that gender-diverse companies are 25% more likely to outperform their peers and ethnically-diverse companies are 36% more likely to do the same. Furthermore Gartner research finds that in a diverse and inclusive workforce performance improves by 12%, intent to stay by 20% and team collaboration and commitment improve by about 50%. But why?
Following on from the success of our last webinar, where we looked at how diversity can support a post COVID-19 recovery strategy, we also touched on why it makes business sense to promote a fully inclusive workforce, where we took a deeper dive into exploring the why.
There is a growing awareness among organisations for the demand to embrace workplace diversity from a corporate responsibility angle, there are a number of equally compelling reasons from a business standpoint too.
Repeatedly, diverse companies are able to demonstrate they are better at winning top talent, orientating themselves better with their customers and improving decision making. But what are the metrics to prove this?
Kat Barnett is the Director, Employer Success for JAPAC at Oracle
Hiam Sakakini, Founder & Culture Transformation Expert | The Culture Equation
Watch the recording, where our expert panel will provide key insights into:
- How they demonstrate the business value of diversity
- Ways to benchmark the performance of diversity and inclusion
- Tapping into diverse talent pools
Topic of conversation
The discussion kicked off with a question from one of our participants on how to increase diversity within the workplace. Hiam shared that the first thing a diverse workforce is drawn to is an organisation with a clear purpose and the ‘why’ diverse talent should be attracted to an organisation.
Beyond this comes the ‘how’ for organisations on how to achieve those values that attract diverse talent. I’m glad Hiam flipped the conversation over as to what a diverse workforce is drawn to, much of the general conversations I’ve had around diversity has been focused on how organisations can recruit a diverse workforce.
It is an important point for organisations to take on board, they should first look at their own values and purpose to ensure that they attract a diverse workforce. Hiam references Satya Nadella, CEO, Microsoft and his belief that a winning culture means moving from a know-it-all mindset to a learn-it-all one - this type of mindset is key to attracting a diverse workforce.
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