5 Diversity and Inclusion Examples From Leadership Teams
Five benefits that stem from diversity in the workplace and in leadership include enhanced performance, boosted creativity, increased retention, profit growth, and improved collaboration.
Blog Post
8 minute read
Feb 07, 2024
The world is far from black and white, and there is rarely a single available solution or path forward. Curating a diverse leadership team brings in additional perspectives that facilitate stronger ideation and problem-solving.
Diversity equity and inclusion (DEI) have become a cornerstone in the modern workplace, influencing not only culture but oftentimes the bottom line as well. Fostering diversity within leadership teams isn’t just about ethics, it's a strategic advantage.
Let’s delve into diversity and inclusion, explore examples of their implementation, and uncover the tangible benefits they bring to leadership teams.
To support diversity and inclusion in the workplace, many organizations create employee resource groups. Read about how they work and their benefits in Impact’s blog, 5 Best Practices for Employee Resource Groups.
What Is Diversity and Inclusion in the Workplace?
Diversity encompasses the unique qualities and characteristics that make individuals different from one another, including race, gender, age, ethnicity, religion, sexual orientation, and more.
Inclusion refers to creating an environment where all individuals feel valued, respected, empowered to contribute their ideas, and can blossom through supported professional development.
Diversity and Inclusion Examples
To put these concepts into perspective, let's explore some real-world examples of companies successfully embracing diversity and inclusion.
Accenture might be one of the best examples of a diverse and inclusive workplace that we have available. The company makes a point to consider diversity and inclusion in every initiative, organizational goal, and operation they establish.
“Recognition for the global professional services firm’s commitment to diversity and inclusion continues to come thick and fast, with the latest accolade positioning Accenture as the number one most diverse and inclusive company in the US – taking top spot in DiversityInc’s Top 50 Companies for Diversity list.”
Many other organizations are rising up and emphasizing DEI initiatives as well, as the benefits continue to speak for themselves.
Sodexo is another company that’s paving the way in terms of diversity, and they’re reaping the benefits. As a food services and facilities management company, they might not have the household name recognition that Nike does, but they’re moving mountains when it comes to DEI initiatives.
In fact, they were just honored for the 6th time by the National LGBT Chamber of Commerce (NGLCC) who recognized them as a 2023 Best-of-the-Best Corporation for Inclusion.
Clorox is another great example of diversity improving the workplace, as they’ve made a point to emphasize a culture of inclusion through their IDEA initiative (Inclusion, Diversity, Equity, and Advocacy) which has resulted in a 78% positive employee response to inclusion.
5 Benefits of Diversity in Leadership
Many benefits stem from building a diverse leadership team and company culture like an improved customer experience, a better company reputation, and accelerated problem solving but we’re just going to focus on the following five.
Diverse leadership teams consistently outperform their counterparts in terms of overall performance. The collection of varied perspectives, skills, and experiences results in a more well-rounded approach to problem-solving.
“Our analysis found that the most inclusive decision-making and execution teams performed 60% better than average.”
Diversity in thought equips teams to navigate complex challenges with greater agility, ultimately leading to better decision-making and execution. This higher performance can also be linked to how individuals operate within a supportive, diverse, and inclusive environment.
Individual employees perform their best when they have the support they need to flourish, which elevates the team and organization as a whole.
2. Boosted Creativity
Diversity is a catalyst for creativity. When individuals from different backgrounds collaborate, they bring a rich tapestry of ideas and solutions. The synergy of diverse perspectives sparks innovation, enabling companies to remain competitive in a rapidly evolving marketplace.
“One of the benefits of diversity is that it brings different ways of thinking, seeing, and solving problems to the table. As a group leader, you can use diversity to enhance creativity by embracing these different perspectives and inviting them to contribute to the group's goals.”
Creativity influences a wide variety of business processes including innovation, problem-solving, marketing, and even research and development. By creating effective diversity and inclusion initiatives, you can build a more diverse company that sees creativity infused throughout every layer of the business.
3. Increased Retention
Employees are more likely to stay committed to a company that values and appreciates their unique contributions. A diverse and inclusive workplace cultivates a sense of belonging where individuals feel seen and heard. This fosters a strong sense of loyalty, reducing turnover rates and contributing to the establishment of a workforce that is deeply invested in the organization's success.
More than ever before, employees want to work for companies that share their values, and diversity, equity, and inclusion have become a pressing issue for many.
“Employees who feel included within their organizations are about three times more likely than other peers to feel excited by and committed to organization missions, according to McKinsey.”
4. Profit Growth
Beyond the ethics and cultural benefits, there's a compelling financial incentive for companies to invest in diversity.
Research consistently indicates that organizations with diverse leadership teams experience higher profitability. This isn't merely about ticking boxes on a checklist, it's about recognizing the economic benefits of having a leadership team that reflects the diverse demographics of customers and markets.
“Companies with highly diverse teams noticed a significant increase in cash flow — to the tune of 2.5 times per employee.”
A variety of perspectives leads to a broader understanding of consumer needs, ultimately driving business growth.
5. Improved Collaboration
Diversity fuels collaboration. When team members embrace different perspectives, they learn from one another, resulting in more effective and innovative solutions.
In an environment where collaboration is valued and encouraged, diverse teams flourish. This collaborative spirit becomes a driving force behind achieving organizational goals, as individuals leverage their unique strengths to collectively propel the team forward.
Wrapping Up on Diversity and Inclusion in the Workplace
Embracing diversity and fostering inclusion is not just a checkbox on a corporate agenda, it's a roadmap to success.
As we move forward in the business world, let's remember that diversity is not a problem to be solved but an opportunity to be embraced. By learning from the experiences of successful organizations, we can pave the way for more inclusive, innovative, and high-performing leadership teams.
One of the best ways to encourage and promote diversity in the workplace is through the creation of employee resource groups that provide support and help in creating an inclusive environment. Read Impact’s blog, 5 Best Practices for Employee Resource Groups to learn more about how they work and their benefits.
