We use cookies to improve your experience on our website. Research shows that there is a direct correlation between high-skilled immigration and an increase in the level of innovation and economic performance in cities and regions. They are all international melting pots with a high concentration of immigrants. It now includes employees with diverse religious and political beliefs, education, socioeconomic backgrounds, sexual orientation, cultures and even disabilities. The company's filing status is listed as Active and its File Number is L19000117754. This 2016 survey shows that 47% of millennials are actively looking for diversity and inclusion when sizing up potential employers. According to the 2018 Hays Asia Diversity and Inclusion report, improved company culture, leadership and greater innovation were the top three benefits of diversity identified by respondents. The results revealed that businesses run by culturally diverse leadership teams were more likely to develop new products than those with homogenous leadership. People from diverse backgrounds might actually alter the behavior of a group’s social majority in ways that lead to improved and more accurate group thinking. I'm a subscriber, but I don't have an HBR.org account. The 2018 Deloitte Millennial Survey shows that 74% of these individuals believe their organization is more innovative when it has a culture of inclusion. Diversity and inclusion cannot be a one-time campaign or a one-off initiative. However, there was a perception among a significant proportion of participants that access to pay, jobs and career opportunities for those of equal ability could be hampered by factors such as age, disability, ethnicity, gender, family commitments, marital status, race, religion and sexuality. McKinsey’s most recent Delivering Through Diversity report found corporations that embrace gender diversity on their executive teams were more competitive and 21% more likely to experience above-average profitability. This tiny South-East Asian island nation, with a population of just over five million, is today one of the globe’s heavyweight financial centres. They also had a 27% likelihood of outperforming their peers on longer-term value creation. Need help getting access? They view the ideal workplace as a supportive environment that gives space to varying perspectives on a given issue. One possible reason for this difference was that white jurors on diverse panels recalled evidence more accurately. By the time I was 18, I could speak five languages and had friends from the Chinese, Indian, Malay and Eurasian communities, who between them hailed from several religious backgrounds. Striving to increase workplace diversity is not an empty slogan — it is a good business decision. The coming together of people of different ethnicities with different experiences in cities and societies is a key driver of innovation. Harvard Business Publishing is an affiliate of Harvard Business School. Having built and scaled a multinational enterprise over nearly two decades, I’ve learned that diversity in the workplace is an asset for both businesses and their employees, in its capacity to foster innovation, creativity and empathy in ways that homogeneous environments seldom do. More innovative, more profitable ... greater diversity isn't just a moral imperative. Enter your email address and we'll send you a link to reset your password. Discover more than 56 million tracks, create your own playlists, and share your favourite tracks with your friends. Diverse teams are more likely to constantly reexamine facts and remain objective. All rights reserved. David Rock is cofounder of the Neuroleadership Institute, a consultant and author of Your Brain at Work. A recent survey shows that business leaders can't ignore their employees' health and well-being if they want to prosper, as well as recover, after the pandemic.
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