Research shows a statistically significant relationship between management diversity and innovation, as companies with higher levels of gender diversity achieve more revenue from new products and services.
Workplace diversity as a concept gets tossed around a lot in the business world, and oftentimes right out the window. But for the numbers cruncher in you, consider there is compelling evidence that suggests diversity can significantly enhance an organization’s top-line performance, especially those that rely on creativity and innovation.
I happened upon this topic randomly the other night while perusing the TED talk website. In an installment I viewed (see below), Rocío Lorenzo, a partner and managing director of Boston Consulting Group, discussed research she conducted in an initial survey of 171 companies set up with the Technical University of Munich.
The talk was all of about 10 minutes, but let me summarize some key aspects. Lorenzo and her team wanted to find out if diversity can lead to more innovation. Does it actually help companies gain a competitive advantage? The answer was an emphatic yes.
She eventually expanded the study to more than 1,700 companies across the United States, France, Germany, China, Brazil, India, Switzerland and Austria. The 2016 survey encompassed a variety of industries and company sizes…