Inclusion and Diversity

In the world we live in today and will be a part of tomorrow, Diversity in all its forms already is and still will be a given. What needs attention today and will continue to require thoughtfulness and choice is, Inclusion.

Diversity that goes beyond the commonly considered dimensions such as gender, age, religion, sexual preferences, disabilities etc. to consider aspects such as neurodiversity, communication style, personality, interaction style, leadership style etc.; where leveraged and celebrated give rise to increased Bottom-line and Belonging. There are multiple studies that have drawn strong linkage between organizations’ that have worked on creating inclusive cultures and the results they have been able to achieve. Some such statistics are:

• Cognitive diversity can enhance team innovation by up to 20%. (Source: Deloitte, The diversity and inclusion revolution: Eight powerful truths)
• A 2019 study by McKinney shows that companies in the top quartile for gender diversity on executive teams were 25% more likely to have above-average profitability than companies in the fourth quartile. In fact, A substantial differential likelihood of outperformance—48% separates the most from the least gender- diverse companies.
• In terms of ethnic and cultural diversity, the 2019 study by McKinney shows that top-quartile companies outperformed those in the fourth one by 36% in profitability.
• By 2025, the workforce is expected to account for up to 75% of the millennial generation.
• 83% of all millennials are more likely to be actively engaged if they believe their company stimulates a diverse and inclusive culture. (Source: Deloitte Australia)