Diversity is great for business
Companies in the top quartile for racial and ethnic diversity are 35 percent more likely to have financial returns above their respective national industry medians.
Reaping the benefits of diversity…
I’m an old-man on my soapbox right now, but I’m tired of this rhetoric that diversity is great for the bottom line. I’m tired of it because I feel like the economic benefits supersedes the moral imperative for diversity. I feel like every company went through this conversation:
Woman: I think I’ll work here.
Woman: I wish there were more people like me here.
White Man CEO: Yeah we’ll look into that.
White Man CEO: (Googles for something…) Well hey, it’s good for business so sure.
(Company hires a diversity coordinator).
I get it. Business is business and more non-“white dudes” aren’t going to join a company unless theirs a business reason.
But let’s not forget the real reason diversity matters. Everybody deserves a chance at doing something great. You busted your ass while your parents held down two jobs so you could learn to code? Awesome. Are our profits going to take a hit because you happen to be black? Maybe, maybe not. But honestly, it the most likely worst-case is probably not worse then the white guy who spends most of his work hours on the surf board.
At the end of the day, we’re going to take over your institutions whether or not it makes business sense, but because it’s the right thing to do.