Many studies of D&I quantify how diversity correlates to higher profitability and value creation. McKinsey’s most recent study, Delivering Through Diversity, provides a broad base of tangible benefits that are useful in creating a compelling business case. Companies in the top-quartile for ethnic/cultural diversity on executive teams were 33% more likely to have industry-leading profitability, according to the study.
Organizations that have made D&I an integral part of their businesses are experiencing 83% improvement in their ability to innovate, 42% increase in team collaboration effectiveness, and 31% improvement in customer responsiveness, according to Deloitte.
A study by the American Sociological Association found that companies with the highest levels of racial diversity attain 15 times the sales revenues of those organizations with the lowest levels of diversity.