#FactsandStats: Diversity leads to better business performance.
We’re always talking about diversity from an ethnicity and gender point of view but more and more focus needs emphasised on diversity and inclusion for those with disabilities. The source of talent should be the matter however if the industry opens itself up to more sources of talent there would be more source of creative and strategic output for agencies, businesses and brands alike.
That’s not to downplay the importance of diversity in the commonly discussed areas such as gender and ethnicity and the same principles apply. It only makes sense that a team with a wider perspective has a better chance of discerning how to approach creative problems. Great minds think alike but greater minds think differently.
- One conspicuous absence in the industry data is on disability. 14.2% of Londoners identify as having activity-limiting health problems or disabilities – that is a big section of society and talent to be ignoring.
- McKinsey found that there is a direct, linear relationship between increased ethnic diversity in senior-exec positions and financial performance. Companies in the top quartile of ethnic diversity were 35% more likely to outperform others in industry; likewise those in top quartile of gender diversity were 15% more likely to outperform respective industry medians.