When Goldman Sachs announced they would refuse to take a company public unless it had at least one “diverse” board member, diversity data became required reading for many investors. Firms (pre or post IPO) increasingly need to disclose such statistics or face more visible scrutiny from investors.
We all now know the value of diversity- better decisions and problem-solving are often reached; its positive long-term impact; an overall higher ROI-all; are beyond dispute. In addition, Goldman Sachs found that such firms performed “significantly better” with at least one female director than those without.
But let’s be clear; diversity is only one part of the equation. The other component must be inclusion, which drives innovation and delivers tangible results.
The IWD 2020 theme #EachforEqual reinforces this point.
We can and should choose inclusion rather than reviewing the diversity checklist.
Inclusion is to accept and appreciate diversity. Organizations will discuss how to be more diverse, but are often caught on the horns of their leadership teams which self-replicate, operating from similarity biases and narrow succession bands.
