Diversity Wins: How Inclusion Matters, the third report by McKinsey & Company on gender and ethnic diversity in the workplace, reveals that companies embracing diversity are more robust and achieve better financial returns than their competitors. The study analyzed over 1,000 large companies across 15 countries.
Expert Insights on Inclusion
Linda Schubring, author of Unfolded and president of Leadership Vision Consulting, emphasizes that intercultural relationships expand leadership perspectives and judgment. This enhanced judgment leads to new adaptations of products and services, opening new markets, building brand loyalty, and ensuring regulatory compliance.
While embracing diversity may sound logical and practical, Schubring notes that implementing a company environment that embraces cultural diversity is challenging. She stresses that the first step is learning to communicate in terms that resonate with everyone, which is both work and challenging.
Key Takeaways
- Diverse companies are more robust and profitable.
- Intercultural relationships improve leadership judgment.
- Inclusion opens new markets and builds brand loyalty.
- Effective communication is the foundation of diversity initiatives.
Schubring joined Conversations That Matter to discuss the how-to and benefits of embracing diversity within organizations. The full video is available at vancouversun.com/tag/conversations-that-matter.
