Why No Company Should Have A Diversity Goal

Why No Company Should Have A Diversity Goal
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Diversity should not be a goal on its own. Instead it should be a strategy to achieve other results. Including more diverse perspectives and thinking leads to more diverse solutions which increase profits and growth rates. Now you have two reasons to overcome trust, cultural and inertia issues to embrace diversity and inclusion: 1) It’s the right thing to do; 2) It’s an essential strategy on the way to profitability and growth.

As Patrick Foulis pointed out in the Economist, “The arguments in favour of diversity are powerful:” more women in the workplace, western societies changed by mass immigration, growing assertiveness by gays and lesbians, diverse teams being more creative, innovative, and producing better ideas, and the Peterson Institute study noting that having at least 30% of women in C-suites and boards typically leads to a 15% increase in profits.

HATCH

At the most recent HATCH experience we heard strong, emotional stories of diversity and inclusion in action.

Oman Frame, who teaches a course in Race, Class and Gender, challenged us to challenge the system and our role in it, arguing against privilege, racism and bias against sexual preference and in favor of systemic change, equality and positive action. If we walk by an injustice, we condone it. We must be brave enough to work together to undo our personal bias and change the system.

International attorney Kimberley Motley took us through stories of child brides (read slaves), abused workers and children abducted in the UK and sent to Afghanistan. She’s an advocate of “justness - using laws for their intended purpose: to protect,” working systems from the inside out. She pointed out three barriers: 1) people not knowing their legal rights, 2) laws on the books but super ceded by tribal customs, and 3) a lack of people or lawyers willing to fight for justice. Kimberly suggests that protecting these people is protecting ourselves.

SheWorx CEO Lisa Wang was a four-time national champion rhythmic gymnast. She told us about the gymnastic judging biases and behind-the-scenes give and take. She’s seen that play out in the business world as well where “men are judged on potential and women on experience”. She urged us to tackle big things and watch the “small paper cuts” aware of our biases, speaking up in little moments and refusing to be compliant or complicit.

CEO Convention

At the CEO Connection Mid-Market CEO Convention, literally the day after HATCH, we explored the economic side of diversity. A breakout panel on “Leveraging Diversity: A Key To Your Future Workplace” included the National Urban League’s Donald Cravins, the Girl Scout’s Andrea Bastiani Archibald, Washington DC’s Department of Employment Services’ Van Freeman and KRStrategy’s Kathryn Ritchie.

Cravins had a wonderful description of diversity versus inclusion. He suggested that diversity is being invited to the dance. Inclusion is actually being asked to dance. Building on that, supplier diversity would be caring about the diversity of the band.

The panel proposed three areas of approach:

  1. Strategic leadership – Considering the strategic economic implications of taking advantage of increased diversity to tap into different talent pools, boost talent retention, bring buying power to new diverse groups of people, grow your market.
  2. Internal actions – Taking the time to build a culture that encourages and supports diversity in your organization structure, talent acquisition and development practices and measuring results. One relatively simple idea is to apply football’s “Rooney Rule,” insisting that your pool of final candidates be diverse on the way to selecting the most qualified of them.
  3. External actions – Being courageous and taking a public stance on relevant diversity topics, partnering with diverse university intern-placement programs, organizations and suppliers.

The CEO Connection will probably not have a breakout panel on diversity next year. It’s too important a subject to leave to those self-selecting to tackle it. Next year, diversity will be a plenary session with all attending. I know HATCHers Frame, Motley and Wang would agree. Do you?

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