Make decisions twice as fast with half the meetings25 June 2020
To mark the end of Pride month and Tuesday’s International Women in Engineering Day, I'm going to share with you some pretty convincing statistics about why you should be actively building diverse teams...
🟥 Inclusive teams make better business decisions up to 87% of the time (Forbes/Cloverpop, 2017)
🟧 Teams that follow an inclusive process make decisions twice as fast with half the meetings (Forbes/Cloverpop, 2017)
🟨 Companies with at least one woman on the board outperform rivals by 26% over six years (Credit Suisse, 2012)
🟩 US public companies with a diverse executive board have a 95% higher return on equity (Economic Geography, 2015)
🟦 Businesses run by culturally diverse teams are more likely to create new products (Economic Geography, 2015)
🟪 The most diverse enterprises are also the most innovative with 19% higher innovation revenues (Harvard Business Review/Boston Consulting Group, 2018)
To quote Soichiro Honda:
If you hire only those people you understand, the company will never get people better than you are. Always remember that you often find outstanding people among those you don't particularly like.
Honda’s sage advice shouldn’t just apply to finding new employees but should extend to your partners, associates, advisors and suppliers too.
At EBHQ we’re active advocates for diversity and inclusion in our respective fields. If you’re interested in documenting your organisation’s diversity and inclusion policy in a way that showcases and celebrates what you do, then drop me an email or book a fuss-free call. My amazing behind-the-scenes team and I would love to help you 🌈