Executive Briefings

Diversity in Employment Leads to Innovation, Market Growth, Study Says

All of us aspire to work for leaders who truly value our input. We're looking for a "speak-up culture" - the kind of workplace where we feel welcome and included, free to express our views and opinions, and confident that our ideas will be heard and recognized. But it's not just employees who benefit from this kind of workplace culture. So do employers and shareholders.

Research conducted at the Center for Talent Innovation reveals a remarkable correlation between inclusive leadership, innovative output and market growth. We find that at publicly traded companies with two-dimensional diversity - where the senior leadership team has both inherent diversity in terms of gender, age and race, and an acquired appreciation for difference based on experience and learning - employees are 70 percent more likely than those at non-diverse publicly traded companies to report having captured a new market in the last year and 45 percent more likely to report having grown market share.

For example, the insights of one Indian female banker translated into innovation that boosted net sales at two branches by 127 percent and 75 percent within two years. Her insight? Local women - wage-earners, entrepreneurs, and purse-string holders - were looking for a more welcoming, less condescending experience when they went to deposit money, apply for credit, choose savings and investment products, and ask for financial advice.

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Research conducted at the Center for Talent Innovation reveals a remarkable correlation between inclusive leadership, innovative output and market growth. We find that at publicly traded companies with two-dimensional diversity - where the senior leadership team has both inherent diversity in terms of gender, age and race, and an acquired appreciation for difference based on experience and learning - employees are 70 percent more likely than those at non-diverse publicly traded companies to report having captured a new market in the last year and 45 percent more likely to report having grown market share.

For example, the insights of one Indian female banker translated into innovation that boosted net sales at two branches by 127 percent and 75 percent within two years. Her insight? Local women - wage-earners, entrepreneurs, and purse-string holders - were looking for a more welcoming, less condescending experience when they went to deposit money, apply for credit, choose savings and investment products, and ask for financial advice.

Read Full Article