Just the Facts... On DEI
February 12, 2024
Diverse companies are better companies.

Diversity programming in corporate America is coming under fire. But, it shouldn't. 


Diverse companies are more profitable. For every 1% increase in diversity, a company can predict 3-9% increase in sales revenue, according to McKinsey.

Diverse companies are more creative. A recent study at the University of Michigan showed that groups of diverse problem solvers could outperform groups of high-ability problem solvers. https://odeo.hq.nasa.gov/documents/DiverseProblemSolvers_TAGGED.pdf

Diverse companies are more innovative. A recent study by Harvard Business Review found that the most diverse companies were also the most innovative, showing 19% more innovation revenues, and allowing them to market a greater range of products to consumers. https://hbr.org/2018/01/how-and-where-diversity-drives-financial-performance

Diverse companies are more attractive to top talent. A recent survey conducted by GlassDoor found that 76% of employees and job seekers report a diverse workforce is an important factor when evaluating companies and job offers. And, 32% of job seekers report they wouldn’t even apply to a company with a lack of diversity amongst its employees. https://www.glassdoor.com/employers/blog/diversity-inclusion-workplace-survey/

Diversity is just as important for retention as it is for hiring. In a recent Deloitte study, 72% of senior executives said they would leave their company for one that valued diversity. https://www.cnbc.com/2017/07/26/75-percent-of-execs-would-leave-their-company-for-one-that-values-diversity.html

Companies with women in leadership consistently outperform companies with less gender diversity. According to McKinsey, companies with executive levels comprised of over 30% women are 48% more likely to outperform companies with less gender diversity. https://www.mckinsey.com/featured-insights/diversity-and-inclusion/diversity-wins-how-inclusion-matters


Less than 1% of all VC funding goes to Black-owned companies (despite Black-owned companies being among the fastest growing in the United States).

Only 5% of companies are run by women, and only 8% of Fortune 500 companies are run by women.

Black women continue to make 67 cents for every dollar paid to white, non-Hispanic men.

Most senior leaders continue to be white. According to the US Census Bureau, over 75% of managers are white, 83% of senior managers are white, and 85% of executives are white. https://www.cnbc.com/2020/06/11/companies-are-making-bold-promises-about-greater-diversity-theres-a-long-way-to-go.html


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