McKinsey has always maintained that diversity at the workplace, is not only morally and ethically imperative, but also highly beneficial to the actual bottom line of any business. Business research first held in 2014, confirmed that companies with greater gender diversity outperformed the others by fifteen percent. This, rose to twenty- one percent two years later, and then to twenty- five percent by the year 2019. Likewise, for companies whose talent recruitment strategies are geared up to hiring from across ethnicities, performed a whopping thirty- six percent better the same year. This is true for both the US and the UK. One area where greater diversity is still needed is at the board and executive levels. The gap between the companies that are the winners, and those that are laggards, is widening. The overall sentiment towards diversity is quite positive among the people. But the sentiment on inclusion is less positive. Companies need to take bold action to ensure inclusion takes place, in spite of some resistance from certain quarters. A systematic and business- led approach is warranted at this stage.

Source:https://www.mckinsey.com/featured-insights/diversity-and-inclusion/diversity-wins-how-inclusion-matters

Uploaded Date:29 May 2020