| | DECEMBER - JANUARYMANAGEHRMAGAZINE.COM9Based on the McKinsey study " Why Diversity Matters, " here are a few incredible business benefits of inclusion within an organisation. Gender-diverse executives were 15% more likely to generate above-average profitability. A racially and ethnically diverse staff has a 35% performance advantage over those who don't. Diverse companies attain 19% higher revenue.This doesn't include the benefit of having varied viewpoints to contribute to processes, products and services. The ubiquitous adage "think outside the box" best suits a diverse staff. By definition, a homogenous staff is a box created unto itself, leaving those within it unaware, with invaluable perspective and money being almost literally left on the table.Additionally, DEI introduces the rest of the world to those who never thought to venture outside their limited purview. The world and markets are diverse; therefore, corporations should have an equally diverse staff to target diverse markets appropriately. The predominant rising untapped market is also part of the fastest-growing population--multicultural millennials. This community includes diverse communities and those compassionate to diverse communities and social issues. Multicultural millennials comprise the largest growing population in the United States, projected to go from 75 to 81 million by 2036. This population is more engaged on social media, in tune with social issues and prioritises working for and spending money with socially responsible companies with values that match theirs. Nielsen reported that this growing market spends more than $65 billion annually and influences upward of $1 trillion in total consumer spending. Although it may appear that with all the corporate restructuring and changes occurring with business and the greater society, the valiant DEI fight will fade into the sunset, there is still hope. As a Black woman and mother of two who's had doors closed in her face due to her race, her gender, her being a mother in the corporate world and her dyslexia diagnosis, I know far too well the despair and hopelessness that accompanies the definite BOOM of a slammed door. But I also know the infinite possibility of what lies on the other side of opportunity's door if we take our time and open it. DEI is not just a moral imperative but a powerful business strategy; diverse teams drive higher profitability and innovation, making it essential for organisations to commit to long-term, systemic change to unlock true potential and opportunity
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