Diversity & Inclusion: What role can Executive Search play? Diversity Inclusion Survey Report | Page 7

M cKinsey’s research showed that companies with ethnically diverse leadership are 33% more likely to outperform on profitability, and 21% more likely to have above-average profitability if they have gender diverse leadership teams. BCG and the Technical University of Munich found a direct correlation between innovation, diversity in leadership teams, and profitability of new product releases. They discovered that four types of diversity bolster innovation - industry background, country of origin, career path, and gender diversity. Deloitte Australia research shows that inclusive teams outperform their peers by 80% in team-based assessments. Diversity & Inclusion is firmly on the boardroom agenda and companies are actively looking to improve equality in their recruiting practices. This is a trend that is not going away and which many companies are tackling head on, both internally and through their suppliers. Search firms should seek to understand why Diversity & Inclusion is important to each of their clients, for the business case can vary greatly from client to client. The why can then inform the how – how can search firms support their client’s Diversity & Inclusion vision? “Diversity makes businesses more successful. Our biggest opportunity is making our clients more successful.” Susan Oliver, Battalia Winston McKinsey, ‘Delivering Through Diversity’, 2018. The BCG & The Technical University of Munich, ‘The Mix That Matters, Innovation Through Diversity’, 2017. Deloitte Australia, ‘Waiter, is that inclusion in my soup? A new recipe to improve business performance’, 2013. www.invenias.com | [email protected] / 7