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McKinsey's most recent Delivering Through Diversity report found organizations that
embrace gender diversity on their executive teams were 21% more likely to experience above-
average profitability. These diverse organizations also had a 27% likelihood of outperforming
their peers on longer-term value creation. Concerning gender diversity, estimates state that
closing the gender gap would add $28 trillion to the value of the global economy by 2025, a 26%
increase.
4
Also, a study from Bersin by Deloitte found diverse companies see 2.3 times the cash
flow per employee when compared to their less diverse peers.
5
Admissibly, these findings are
significant as it shows that diversity is not just a metric to be strived for; it is an integral part of a
successful revenue-generating business.
6
Diversity is Financially Smart
"Companies are discovering that, by supporting and promoting a diverse and inclusive
workplace, they are gaining benefits that go beyond the optics."
1
— Vijay Eswaran,
Executive Chairman,
QI Group of Companies.
The financial impact of a diverse workforce makes diversity a no-brainer.
2
A Boston Consulting
Group study found organizations with more diverse management teams have 19% higher
innovation revenues.
3
The Importance of an Inclusive
Workplace
"We may have all come on different ships,
but we're in the same boat now."
— Martin Luther King, Jr.
In this era of globalization, diversity in an
organization is more than gender, race, and
ethnicity. Well-known for first using the
phrase "managing diversity," former Harvard
Business School Professor R. Roosevelt
Thomas contends, "Diversity is not just
about race, ethnicity, and gender. Rather, it
includes other ways in which people differ
from one another, including age, background,
education, work role, and personality."
8
Later,
Mor Barak of the USC School of Social Work
and Marshall School of Business coined the
term "inclusive workplace" referring to a
model work environment that welcomes
diversity on all levels.
9
1
https://www.weforum.org/agenda/2019/04/business-case-for-diversity-in-the-workplace/
2
https://medium.com/@SusanJoseph1786/rating-innovation-an-innovators-take-3814344a852d
3
https://www.bcg.com/publications/2018/how-diverse-leadership-teams-boost-innovation.aspx
4
https://www.mckinsey.com/business-functions/organization/our-insights/delivering-through-diversity
5
https://fortune.com/2017/06/07/fortune-500-diversity/
6
https://www.mckinsey.com/business-functions/organization/our-insights/delivering-through-diversity
7
https://www.mckinsey.com/business-functions/organization/our-insights/delivering-through-diversity
8
https://hbr.org/1990/03/from-affirmative-action-to-affirming-diversity
9
Managing Diversity Toward a Globally Inclusive Workplace (SAGE Publications), Mor Barak, of the USC School of Social
Work and Marshall School of Business
7
