Why does diversity and inclusion in the workplace matter?
If you’re considering whether diversity and inclusion is a worthwhile investment for your organisation, or you’re trying to make a business case to the senior leadership for diversity and inclusion work, you’ll be pleased to know that there is plenty of evidence out there to help you. Here are some stats you need to know about the impact of diversity and inclusion in the workplace.
Diversity and inclusion make businesses more successful
Diverse teams are 35% more likely to outperform their competitors.
(McKinsey)
Diverse teams are 87% better at making decisions.
Decisions made and executed by diverse teams deliver 60% better results.
(Forbes)
Diverse teams have 19% higher rates of innovation.
(Forbes)
Diversity improves team performance by 30%.
(Gartner)
Diversity and inclusion improve teamwork
Inclusion increases employee engagement by up to 83%.
(Deloitte)
Diversity boosts company efficiency by $729 to $1590 per year per employee.
(NBS)
Employees who feel their organisation is inclusive are three times more likely to be happy in their job.
(BCG)
Inclusion reduces absenteeism – a 10% increase in perception of inclusion adds one working day per year per employee.
(Catalyst)
Diversity and inclusion increase revenue
Diverse management teams achieve 19% higher revenue.
(BCG)
Diverse companies generate 2.3 times higher cashflow per employee.
(Deloitte)
Diverse companies are 36% more profitable.
(Gartner)
Diverse companies are 70% more likely to capture new markets.
Diverse organisations generate a 66% higher return on equity.
(Deloitte)
Diversity and inclusion boost recruitment and retention
76% of candidates consider diversity to be an important factor in their choice of employer.
39% of jobseekers won’t even apply for a role if they don’t consider the organisation to be inclusive.
(McKinsey)
62% of employees would reject a job offer from an organisation with a culture that wasn’t inclusive.
Inclusion increases staff retention by 50%.
Diversity and inclusion attract customers
Up to 50% of customers’ purchasing decisions are influenced by an organisation’s support for equality.
(Deloitte)
Consumers are four to six times more likely to buy from and champion a brand with a strong sense of purpose.
(CSR Wire)
57% of consumers are more loyal to brands that commit to addressing social inequalities.
(Deloitte)
64% of consumers were motivated to take action by an inclusive ad.
(Google)
Inclusive ads increase purchase intent by 23%.
53% of UK people say their purchase decisions are influenced by a brand’s diversity and inclusion efforts.
(Kantar)
Want to know how you can gain all these amazing benefits for your organisation? Email hello@watchthisspace.uk to learn about building a diverse and inclusive culture.
