Without inclusion, business leaders are not getting the most out of their diverse workforce. This poses an often-overlooked risk to general business health; when employees feel they don’t belong, they disengage and underperform.
Because there continues to be a lack of understanding of what inclusion is in practice, many leaders don’t know how to build systems and adopt policies that maximize productivity while providing equity of opportunity.
Research shows numerous organizational and business outcomes from taking inclusion to the next level, for example:
Higher Revenue – Organizations with more diverse management teams have 19% higher revenue. (Boston Consulting Group)
Higher Attraction and Retention of Talent – 67% of job seekers said a diverse workforce is important when considering job offers. (Glassdoor)
Increased Innovation – Inclusive companies are 1.7 times more likely to be innovation leaders in their market. (Josh Bersin Academy)
Competitiveness – Gender-diverse companies are 15% more likely to outperform competitors and ethnically-diverse companies are 35% more likely to do the same. (McKinsey)
Other important, yet often-overlooked outcomes of inclusion include:
Greater Emotional Intelligence
A More Engaged Workforce
Higher Leadership Team Cohesion
Improved Corporate Reputation & Goodwill
Stronger Connections with Employees
There is significant evidence that 1:1 coaching is a highly effective learning strategy for leaders because:
DEI insights can be very sensitive, so a confidential one-on-one discussion is the only way to get complete honesty.
The topics and focus are customized to each individual leader’s needs and assessment results.
The coach is an accountability partner to ensure the leader is taking action to implement what they’ve learned; and is a sounding board to consolidate and reflect on those learnings.
The flexibility of coaching makes it easier to work around a leader’s schedule.
An International Coaching Federation (ICF) study showed the following powerful results:
80% of people who receive coaching report an increase in self-confidence (note: a lack of confidence in the topic is often what keeps leaders from discussing diversity with employees)
Over 70% benefit from improved work performance, relationships and communication skills (key to inclusion)
86% of companies report that they recouped their investment in coaching and more (may be a significantly better return than training)