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Inclusivity = Innovation : The Hidden ROI of Diverse Workplaces
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In this episode of The Inclusive Edge: The Power of Diversity, I explore the transformative impact of diversity on business innovation and success with special guest Gill Cooke, an Inclusion Consultant. Together, we unpack the hidden return on investment (ROI) of fostering inclusivity in the workplace.
Key Highlights:
The Business Case for Diversity:
Andrea and Gill dive into data-driven insights, such as McKinsey's finding that companies with ethnically diverse leadership teams are 36% more likely to outperform peers financially. They also discuss how diversity drives innovation, with companies boasting diverse leadership generating higher revenues from innovative products.
Barriers and Misconceptions:
We discuss how despite the clear benefits, many organisations struggle to embrace diversity due to misconceptions about costs, resistance to change, or a lack of leadership accountability. .
Actionable Takeaways:
Gill offers practical steps for building inclusive workplaces, such as diversifying recruitment pipelines, offering inclusive leadership training, and leveraging metrics to track progress. .
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