According to a recent Harvard Business Review study, brands who have more of a diverse workforce experience a 45% growth in their market share year-on-year by unlocking innovation. The study found that we have two kinds of diversity which are inherent and acquired. Those business leaders who have both traits are known a having two dimensional diversity and as a result, out-innovate and out-perform the rest.
Brands like Johnson and Johnson have already taken action, by driving change both internally and externally, to attract, retain and develop a diverse workforce. Some brands are actively training internally to address the unconscious biases we have so they can create a positive employee experience.
Recently, Johnson and Johnson changed their policies in order to retain their employees by giving both parents eight weeks full paid parental leave globally. They have a diversity champion in the role of Chief Diversity Officer who manages and prioritises diversity across the entire organisation “What people are we bringing in, how is that diversity shaping how people think. We need to think differently about where people are coming from,” said regional marketing excellence director Alison Heatherall (campaignlive.co.uk).
Johnson and Johnson are one of many examples of organisations who are pushing the agenda for change and have already set their targets on diversity. There are some who have yet to set theirs, especially in relation to gender diversity and hiring for a new post. Real change won’t happen until targets have been set.
If you would like to explore who to make your organisation more diverse, please contact a member of our team who will be happy to help you. Contact us on 0844 800 5932 or email support@highperformanceconsultancy.com