DIVERSITY ATLAS FOR BUSINESSES AND CORPORATES
Diversity Atlas enables companies to utilise diversity as a driver of improved business performance and gain an edge over competitors.
Emerging business and academic research indicates that diversity within teams and at various levels is positively correlated with enhanced business performance. Companies with greater ethnic and cultural diversity at the leadership level are 33% more likely to have industry leading profitability. Furthermore, companies in the lowest quartile for both gender and ethnic/cultural diversity were 29% less likely to achieve above average profitability (McKinsey Report, 2018).
A recent BCG study suggests that increasing the diversity of leadership teams leads to more and better innovation and improved financial performance. Companies with more diverse management teams have 19% higher revenues due to innovation (Boston Consulting Group, 2018).
Why is this the case? The answer is complex and varied. Generally speaking, people from diverse backgrounds and with lived experiences, see and experience the world in different ways. This diversity translates into the workplace by seeing the same problem in different ways and in generating different solutions and ideas. This is a powerful asset – “In a fast changing business environment, such responsiveness leaves companies better positioned to adapt.” (Boston Consulting Group, 2017).
HOW DIVERSITY ATLAS CAN HELP YOUR ORGANISATION
Use the data generated by Diversity Atlas to survey baseline staff diversity, identify gaps, establish targets and track your progress over time, then use the deeper intersectional insights* generated by the tool to feed into your engagement strategies to ensure your workforce is inclusive and responsive to employee needs. Diversity Atlas is the gateway to reaping the improved business performance that arises from better diversity and engagement.
* Intersectional insights ensure that your gender parity strategies, for example, take into account intersectional factors such as ethnicity, position level, age and disability.