MONO-CULTURE MULTI-CULTURE - Champions for Change€¦ · The highest rated companies for LGBTI...
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The highest rated companies for LGBTI inclusion consistently outperform the stockmarket. 5 Our Case for Change Diversity and inclusion is proven to lead to better commercial results. The companies in the top quartile of gender diversity are... more likely to financially outperform their industry. 1 Companies in the top quartile of ethnic diversity are 35% more likely to financially outperform their industry. 1 MULTI-CULTURE PERFORMANCE 35% MONO-CULTURE 15 % 33 38 more ethnic diversity = more market share more gender diversity = more market share Companies with a high ethnic diversity are 33% more likely to have higher than average market share... ...and companies with high gender diversity are 38% more likely to have higher than average market share. 2 Companies with at least one female exec outperform the stockmarket by 37% and companies with at least 30% female exec outperform the stockmarket by 173% 3 Companies with female board members are 26% more profitable than companies with all-male boards. 4 Women in boards Workplace diversity 173 % 26 % Financial performance More creativity and innovation Happier People Demographically diverse groups make better decisions and produce more innovations,because they bring in different perspectives 6 and help guard against ‘groupthink’ and false consensus effect bias (which causes individuals to overestimate the number of people who see the world as they do). 7 A workforce that better reflects New Zealand’s diversity provides a ‘real’ perspective of needs. When teams have members with traits in common with the end user, the entire team better understands that user. 8 The millennial generation seeks out employers with a strong record on equality and diversity, 9 and when an employee perceives their cultural beliefs are included in a workplace, it benefits job outcomes, career satisfaction, organisation commitment and retention. 10 say they’re better at attracting top talent say their business performance has been enhanced 77 % 78 % 85 % 90 % CEOs who’ve led strategies to promote diversity & inclusion see these results in effect 11 say they’re better at innovating say they’ve enhanced customer satisfaction This research proves the business case for diversity and inclusion – better still, it vindicates the even more compelling human case for warmly embracing the rich diversity of New Zealand throughout our workplaces and boardrooms. — Dame Jenny Shipley 1 McKinsey & Company, Diversity Matters, 2015 2 University of Illinois, Does Diversity Pay?, 2009 3 Eureka Report, Gender Balance Buys Better Results, 2015 4 Credit Suisse, The CS Gender 3000: Women in Senior Management, 2015 5 Miller & Parker, Open for Business, 2015 6 Columbia Business School, 2016 7 Griswold, 2013, Bourke, 2016 8 State Services Commission, 2016, Columbia Business School, 2016 9 PwC, A New Era of Talent, 2015 10 Haar & Brougham, Perceptions of Cultural Inclusion, 2013 11 PwC, A New Era of Talent, 2015 “
Transcript of MONO-CULTURE MULTI-CULTURE - Champions for Change€¦ · The highest rated companies for LGBTI...
The highest rated companies for LGBTI inclusionconsistently outperform the stockmarket. 5
Our Case for ChangeDiversity and inclusion is provento lead to better commercial results.
The companies in the top quartile of gender diversity are...
more likely to financially outperform their industry.1
Companies in the top quartile of ethnic diversity are 35% more likely to financially outperform their industry.1
MULTI-CULTURE
PERFORM
AN
CE
35%
MONO-CULTURE
15%
3338more ethnic diversity = more market share
more gender diversity = more market share
Companies with a high ethnic diversity are 33% more likely to have higher than average market share...
...and companies with high gender diversity are 38% more likely to have higher than average market share.2
Companies with at least one female exec outperform the stockmarket by 37% and companies with at least 30% female exec outperform the stockmarket by 173% 3
Companies with female board members are 26% more profitable than companies with all-male boards.4
Women in boards
Workplace diversity
173%
26%
Financial performance
More creativityand innovation
Happier PeopleDemographically diverse groups make
better decisions and produce more innovations,because they bring in
different perspectives 6 and help guard against ‘groupthink’ and false consensus effect bias (which causes individuals to
overestimate the number of people who see the world as they do). 7
A workforce that better reflects New Zealand’s diversity provides a ‘real’
perspective of needs. When teams have members with traits in common with the
end user, the entire team better understands that user. 8
The millennial generation seeks out employers with a strong record on
equality and diversity,9 and when an employee perceives their cultural beliefs are included in a workplace, it benefits
job outcomes, career satisfaction, organisation commitment and
retention.10
say they’rebetter at attracting
top talent
say their businessperformance hasbeen enhanced
77%78%85%90%
CEOs who’ve led strategies to promote diversity& inclusion see these results in effect 11
say they’re betterat innovating
say they’veenhanced customer
satisfaction
This research proves the business case for diversity and inclusion – better still, it vindicates the even more
compelling human case for warmly embracing the rich diversity of New Zealand throughout our workplaces
and boardrooms.
— Dame Jenny Shipley
1 McKinsey & Company, Diversity Matters, 20152 University of Illinois, Does Diversity Pay?, 20093 Eureka Report, Gender Balance Buys Better Results, 20154 Credit Suisse, The CS Gender 3000: Women in Senior Management, 20155 Miller & Parker, Open for Business, 20156 Columbia Business School, 20167 Griswold, 2013, Bourke, 20168 State Services Commission, 2016, Columbia Business School, 20169 PwC, A New Era of Talent, 201510 Haar & Brougham, Perceptions of Cultural Inclusion, 201311 PwC, A New Era of Talent, 2015
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