Future Market Leaders have a Diverse Workplace
Globally, women account for 60% of college graduates, but only 3% have leading roles - we still have a long way to go to accomplish a truly diverse workplace. Many organizations give low priority to a more diverse workplace, according to research from Kantar Public commissioned by the Dutch Ministry of Social Affairs and Employment. A lost opportunity, as diversity in age, sexual orientation, race, gender, and ethnicity creates value for your organization. This article elaborates on the benefits of creating a more diverse workplace.
The importance of diversity
Talent is scarce today, and this will only increase. Among the biggest fears of CEOs worldwide, is failure to onboard talent and further grow their organization. Organizations lacking diversity will face the increasing challenge of employing new talents. According to research from BCG, more diverse organizations benefit from more engaged and ambitious employees, greater innovation, and higher revenues.
For instance, research from BCG shows that Fortune 500 companies with at least three female directors have a 50% increase in ROE. Organizations with above-average diversity even saw their earnings before interest and taxes (EBIT) increase with 9 percentage points. Others with above-average diversity in their management reported innovation revenues of 19% higher than their competitors. Further, PwC reports that increasing the number of female employees could spike the GDP by 5% in the US, 11% in Italy, and 27% in India; and that’s without taking the positive social impact into account.
This does not only hold up for gender diversity. Organizations focusing on race and ethnic diversity show great results as well. For example, Cisco, Accenture and Adobe show both great financial results and high diversity, Fortune shows. McKinsey reports that organizations in the top quartiles of racial and ethnic diversity are 35% more likely to show higher financial results than industry medians across the US, UK, Canada and Latin America. A linear correlation was even found between ethnic diversity and better financial performance in the US: for every 10% increase in racial and ethnic diversity in senior-executive teams, EBIT rises by 0.8%.
Diversity at Google and Atos
We at Google and Atos both have a diversity program. Google’s Diversity website highlights Google’s efforts towards increasing its internal diversity. The website also provides lessons and best practices to achieve equality.
In March 2019, Google.org shared that we are granting $5 million to UnidosUS, the Young Women's Christian Association and the Hispanic Heritage Foundation. These funds will be used to bring computer science (CS) education to over one million Latino students and their families by 2022. This includes CS First, Google’s coding curriculum for elementary and middle school students. Additionally, it will support students' learning experience, helping them explore CS and offering culturally relevant resources to engage parents.
The grant is part of Google.org’s 2019 pledge to grant $25 million to improve access to CS and AI education for black and Latino students across the US. This initiative will help these students develop the technical skills and confidence they need for the future, and help prepare them to succeed in the careers they pursue. Please download our diversity report here for additional information.
Likewise, Atos deeply cares about diversity. With robust programs in place to support our five Diversity Dimensions (Gender, Accessibility, LGBT, Generations, and Culture), our 120,000 global employees are encouraged to contribute to our culture of inclusivity. Our LGBT and Allies groups provide support, guidance, and resources to our employees. Together with senior staff support, these groups ensure that Atos is a safe, inclusive workplace for our employees. Atos has partnered with the United Nations, and has signed the LGBTI Standards of Conduct For Business. Finally, in support L’Autre Cercle’s mission to combat discrimination, Atos has signed their charter.
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- Employers talk about diversity in the workplace
- View on diversity by BCG
- How diverse leadership teams boost innovation
- Why diversity matters
- Five reasons why inclusion and diversity matter
- Google Diversity Annual Report
- Diversity at Atos
- Diversity at Google
- Helping Latino Students to Code
- The 100 best workplaces for diversity