More organizations are thinking about what works and what doesn't work in the field of diversity. A lot of literature has already been published in the field of diversity, but the question I regularly hear from organizations is: "What works and what doesn't work?" Do you recognize that feeling that you are short on time? Your time is precious and you want to have an immediate effect with the diversity approach you use. No time to read extensive reports? For you, we summarize the main findings of McKinsey's diversity studies (2015 en 2018).
Diversity Matters & Delivering through Diversity
These studies show that companies perform better when they have many diverse teams. One of the observations is that companies that actively pursue diversity and inclusion have a 35% higher profit margin than companies of a comparable caliber without a diversity approach. The benefits of diversity and inclusion affect the following areas:
- better recruitment of talented people,
- a better focus on customers,
- increased employee satisfaction, and
- better decision making.
What should you do to get these results?
- Commit and create a cascading effect;
- Link the diversity and inclusion policy to the growth strategy;
- Create an initiatives portfolio; and
- Provide customized initiatives.
Change in organizational culture
From my experience as a diversity and inclusion advisor, I have noticed that building a diverse and inclusive organizational culture is a long-term process. Diversity does not happen by itself. It does not start with a memo from the management and does not end with the recruitment of a few individuals from the target groups who are "missing" within an organization. It requires a change in the organizational culture.
Diversity doesn't happen by itself
You can do this by means of training and advice programs with dedicated ambassadors within the organization. It is important to implement the right actions in the field of:
- Inclusive leadership
- Organizational processes
- Inclusive organizational culture