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Delivering Through Diversity - McKinsey& Company (2018)
Company Level: Any SizeType: Informational and ImplementationOur latest research improves our understanding of the correlation between diversity and company financial performance, and of the action’s companies can take to develop a robust I&D strategy, in five ways:
- Expanded, updated data set. We nearly tripled the number of countries and companies researched to 12 countries and more than 1,000 companies globally.
- Exploring diversity at different levels of the organization. We correlated financial performance with the diversity of a company’s total workforce, executive team, and board of directors, and within executive teams, we contrasted diverse representation in line versus staff roles.
- Additional lens on financial performance. We measured profitability, using EBIT margin, and longer-term value creation, using economic profit margin.
- Broader, more holistic understanding of diversity. We considered through qualitative research how both inherent (e.g., gender, ethnicity and, where possible, sexual orientation) and acquired (e.g., international work experience, education and training, socioeconomic background) forms of diversity relate to financial performance.
- Insight into company best practices. We developed in-depth profiles of 17 leading companies, articulating how they use diversity and inclusion to create value in their specific industry and geographic contexts.
This research extends and deepens the quantitative correlation analysis approach taken by Why Diversity Matters, and complements it with qualitative company research, with the practical aim of sharing insights from the experiences of companies effectively engaging with I&D.
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A Leader’s Guide: Finding and Keeping Your Next Chief Diversity Officer
Company Level: Mid-size employer (250-1000 total employees)Type: Informational and ImplementationDiversity, inclusion & equity have become headline issues, putting pressure on organizations and leaders to respond
in a meaningful way. Investors are also expressing their displeasure with discrimination allegations. Russell Reynolds
Associates’ review of 2017 and 2018 incidents involving bad executive behavior showed that companies experienced
an average 7 percent decline in market capitalization, or $4 billion, in the days and weeks following the news.In this paper, we take a data-driven approach to analyze the Chief Diversity Officer (CDO) role and what makes it successful. We examine
the career paths and competencies of today’s CDOs, based on the 234 CDOs currently at S&P 500 companies. We
then uncover the barriers many CDOs face within their organizations. Finally, we look at the actions leaders and
organizations can take to make CDOs more successful. Three key questions are addressed:1. What experiences and competencies define today’s CDOs?
2. What are the current barriers CDOs face in embedding D&I into the organization?
3. How can CEOs, CHROs and other top executives set CDOs up for success?
Download the full story PDFEY: D&I means growth
Company Level: Any SizeType: Informational and ImplementationThe ability to invite, leverage and learn from different perspectives is key to delivering the best approaches for our clients.
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Corewell Health | Why Inclusion & Diversity Matters
Company Level: Any SizeType: InformationalCorewell shares their “why” as improving the health of the communities they serve. They identified people as their #1 strategic enabler for innovation, attracting the best talent, high performing employees, delivering exceptional patient experience, and flourishing community partnerships.
Spectrum Health’s Strategic ImperativeTAGS
The Competitive Advantage of Racial Equity
Company Level: Any SizeType: Informational and ImplementationThis report details the potential gains of advancing racial equity. The article provides an overview of what racial equity is and why business should care. It touches on the dramatic shift in demographics, increased innovation, minority buying power, and much more.
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Catalyst Information Center | Why Diversity Matters
Company Level: Any SizeType: Informational
Download the full story PDFThis tool kit provides data to use in creating a D&I business case within organizations TAGS
The Business Case for Racial Equity in Michigan (May 2015)
Company Level: Any SizeType: InformationalThis report outlines the business case for racial equity in Michigan. It also provides 20 facts about racial and ethnic inequities in Michigan, estimates potential economic gains, and highlights promising policies and approaches to improve racial equity.
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Diversity Matters | McKinsey & Company
Company Level: Any SizeType: Informational and ImplementationThe “Diversity Matters” research looked at the relationship between the level of diversity (defined as a greater share
of women and a more mixed ethnic/racial composition in the leadership of large companies) and company financial
performance (measured as average EBIT 2010–2013). The research is based on financial data and leadership
demographics compiled for this purpose from hundreds of organizations and thousands of executives in the
United Kingdom, Canada, Latin America, and the United States. The size of the dataset allows for results that are
statistically significant and the analysis is the first that we are aware of that measures how much the relationship
between diversity and performance is worth in terms of increased profitability.The report includes data, steps for successful diversity programs, and techniques for overcoming bias.
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