Employing more women and more women leaders, along with ethnically or culturally diverse individuals, is no longer only a moral imperative. Multiple studies have proven that diversity has a real impact on a company’s bottom line.
In fact, companies with higher gender diversity at an executive level are “21% more likely to experience above-average profitability than their peers,” according to McKinsey’s 2018 “Delivering Through Diversity” report.
Furthermore, the report found that companies that embraced ethnic and cultural diversity, were “33% more likely to excel in profitability”.
At the recent Virgin Atlantic Business is an Adventure event hosted in partnership with Investec, journalist Claire Mawisa hosted a panel of experts on the topic of how diversity and inclusion can drive the innovation and profitability of business.
On the panel was Faith Popcorn - futurist, author, and founder and CEO of marketing consulting firm BrainReserve; Thando Hopa - diversity advocate, model and lawyer; Dr Tashmia Ismail-Saville – CEO of the Youth Employment Service; and Dr Marc Kahn – Investec’s global head of Human Resources and Organisational Development.
What became very clear from the panel was that diversity cannot be a simple box-ticking exercise to ensure adequate representation. To stay relevant and profitable, a company needs to build a truly inclusive culture that gives all groups a voice and makes it easy for them to bring their whole self to work.
Listen to the full podcast
Learn more about why business success relies on a diverse and inclusive workforce. Listen to the full panel discussion here.
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