In McKinsey’s latest report on diversity, equity, and inclusion (DEI), “Diversity Matters Even More”, the consultancy firm highlights that the business case for DEI is now stronger than ever.
This report, part of a series that started in 2015, demonstrates a clear link between leadership diversity and higher financial returns as well as broader holistic impacts.
*This post was originally published on LinkedIn.
🎯 Increased financial performance: Companies with top-quartile representation for gender and ethnic diversity in executive teams are more likely to outperform financially.
🎯 Progress in gender diversity: There has been notable progress in gender representation in leadership, with a significant impact on financial performance.
🎯 Ethnic diversity still lagging: Despite improvements, there remains a gap in ethnic representation at the top levels.
🎯 Holistic impact: Diverse leadership correlates with higher social and environmental impact scores.
🎯 Strategies for change: McKinsey outlines five key strategies to effectively implement DEI, emphasizing the importance of a systematic, purpose-led approach, local adaptation, fostering belonging, empowering allies, and acting on feedback.
The report is a call to action for companies to not only increase diverse representation but to integrate DEI into their core mission for sustainable and inclusive growth.
📖 Read the full report for detailed insights and strategies.
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