Fostering diverse and inclusive teams and embracing diverse practices has always been the right thing to do. However, now more than ever, there is a solid business case to get diversity, equity and inclusion (DEI) right or risk losing the unique opportunities that it affords businesses.
A diverse and inclusive workforce can be advantageous for companies — making them more innovative, more profitable and more likely to retain and attract talented employees. A survey found a correlation between diversity and innovation and profit, with companies with above-average diversity in leadership teams seeing an increase in innovation by 19%, while diversity-driven companies saw a 14% higher share of revenue from new products. 4