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The diversity business case

Do you know why you should care about diversity?

Global performance flow chart concept

Well managed diversity is a clear performance driver. Corporate diversity champions develop competitive advantages in various key business processes such as new product development, customer or supplier management. In addition, leveraging a diverse slate of talents increases performance in all functions, by allowing identifying the most competent individuals for a position, or enhancing quality of decision making by integrating diverse viewpoints.

Identifying the business case for diversity enhances diversity strategy effectiveness. It allows targeting the most effective levers and focusing resources to reach highest impact. Furthermore, once the key impacts of diversity on performance have been identified, shaping a compelling and credible diversity statement can strongly contribute to shifting mindsets.

On a more personal notes, several of the most committed client CEOs shared with us that creating a fair and inclusive working environment should be a key element of their legacy.

schlumberger_logo

Schlumberger launched its diversity initiative in the mid 1990, at a time where very few companies were interested in such a topic. Its business case was clear: it needed to expand the internationalization of its engineering and management teams. A compelling and clear diversity statement sustained the effort:

“Oil fields have no frontiers”.

loreal_logo

L‘Oréal’s strategic objective is to capture one billion additional consumers. Such consumers are typically significantly more diverse than their current consumer base, with more diverse social backgrounds, more men, and a wider slate of ethnic groups. Its business case for diversity is cristal clear, and understood by all:

“For L’Oréal, beauty and diversity are intimately related. Integrating the concept of diversity at all levels enables the group to carry out its mission: beauty for all”.

pwc_logo

PwC’s strategic objective is to double size by 2016, expanding geographically and across different functional areas. PwC’s business case for diversity is straightforward:

“We need to have the best available talents to serve our clients”.
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