Mighty diversity results in mighty money! Improving your company’s diversity and inclusion results in improvement in the bottom line — profitability.
This common thread has been woven into local presentations, events and webinars. I’m listening! The idea, supported by research, is that hiring for diversity results in improved bottom line, partnerships and collaborations, increased revenue and productivity. Employee contentedness improves as well. Providing employees financial strength improves education, contributions to local communities, health. Companies thrive too!
Ethnically Diverse Companies Outperform….35% !!!!!
Much important work is being done to train and encourage companies and organizations to hire for more diversity, and yet there rallying cry that it’s not enough, we can do better. Hiring for diversity is the right thing to do for people, and yet some are uncomfortable, try to assimilate, or can’t let go of stereotypes. When hitting roadblocks, remember that diversity results in improved bottom line and company profits.
Because if I’ve said it once, I’ve said it a million times… A more diverse community results in more diverse startups. Which become more diverse companies. And more diverse companies are more successful. Fact.Rick Turoczy – Silicon Florist regarding Portland Business Journal Article*
Diversity is a broad term, as race, gender, ranges of ability, ranges of age and experience can contribute to diversity. Each person brings their own education, experience, insights and brilliance and when there is the diversity of race, gender, abilities, age and experience, team wisdom can be elevated, productivity enhanced, revenues improved, social good bestowed.* It’s been talked about for years and yet action has been paltry.
“Diversity Kaleidoscope of Hope”Cole Reed
Cole Reed spoke to a group for LinkedIn Local PDX in June 2019 about Diversity Mindset for Best Workplace Productivity, about her experience as a CEO and then an entrepreneur. Her experiences are many and varied and as she was talking about mindsets for success, she spoke about diversity in the workplace being a contributor to making more money. Masterful during her engaging presentation at getting the audience to think for themselves, attendees started talking about how important it is to have a place where individuals can make contributions and rise in their abilities. Cole has a passion to support businesses, strengthen community and engage with everyone to work together to strengthen the fabric of our communities, we all have the potential to be a contributing thread.
“When diversity lives, we can make more money, create a bigger pond” support communities. “DEI (Diversity, Equity, Inclusion) is good for the bottom line”Cole Reed
Neurological Effects Matter
At the ninth World Domination Summit in Portland Oregon, I attended an Academy entitled Neuro Science of Diversity and Inclusion with Paloma Medina of 11:11 Academies.
It was a fascinating look at human and animal responses of frontal cortex (thinking and reasoning) and amygdala responses (fright, flight, fight types of responses). Stress responses are important for survival. But when a person repeatedly doesn’t get a job even through they are qualified, or when they are pulled over in their car and afraid they may be shot, or a host of other scenarios, the stress can become chronic and unhealthy. The same can happen at a workplace unless the person feels as though they are included and contributing, the prefrontal cortex of reason and decision are in charge. Paloma said that a result of diversity and inclusion in workplaces can result in better outcomes and results, including money.
Diversity Results in Improved Bottom Line versus “Culture Fit”
As a hiring manager for a new company, I had 3 states and 14 sales positions to fill in 12 cities. We were told to hire “young, hungry, up to 3 years of experience. A good fit for the culture.” I hired for people who knew their communities and had great capability; SE Asian, Latino and Latina, Black, some of whom had more than the 3 years of experience.
…. Like-Mindedness Is Dangerous ….Mae Busch*
As upper management always has the final interview, there was feedback on the candidates. One of my candidates for a territory had a stellar track record, terrific relationships in the area, but was over 50. My manager was not happy about that hire. The team gelled really well, they had expertise to share, and they soared to become the number one district in the country. The “old” representative was #1 in the nation. Each of them were in the top 10%. And yet my manager held some of those hire against me, not a “culture fit.” The team seemed to like each other, laugh and learn together, they were all very unique.
Anyone over 40 was not a good culture fit!Blog author
I felt good about the mix of life experience, work experience, cultural insights, and range of time walking on the planet. The results were great for our district team, the company made money, my team received higher than average raises, a couple of them went on to promotion. I was forced out 2 weeks before they won their awards for their best year and shared a week long trip to a sunny beach location. This was years ago. We did good things for our company and each team member had a chance to be rewarded. My entire team was an outlier, not a culture fit. While an N of 1 that was not an experiment, this team showed me that I did the right thing.
Oregon Women’s Health Network events hosted by Della Rae hone in on issues with a laser focus, the panel discussions are riveting and conversation around them is intense and important. The topic of DEI is touched frequently and with Dells’a background in HR, she guides conversations beautifully. We’ve all seen for years, job postings and company websites that state a goal of diversity in hiring. And yet often HR departments are all white, hiring managers aren’t well trained to hire and words only that, words without meeting directives. . This isn’t a new concept, what is new is a growing deep cry that accountability is lacking, action needs to happen!
“Are you practicing What you Preach or Just Preaching?”Della Rae
“DEI is an opportunity”Court Morse
If Court Morse is presenting, I want to be there! I heard Court Morse present twice, B Local group event and LinkedIn Local PDX. Their message is profound: living and working with diversity, equity and inclusion can reduce harm and is an opportunity. Why is it uncomfortable? Still?
“Seek knowledge, spread peace! “Hussein Al-Baiaty
Hussein Al-Baiaty spent a bit of his childhood in a refugee camp with his family in Iraq. From that place to the U.S. to becoming a business owner, he champions peace, possibility and understanding of refugees and helps through a subset of his company The Printory called Refutees. During a great presentation he mentioned that when a refugee child is in class, other children often perform better, learn more. It’s about knowing each other’s stories, gaining empathy, striving.
“A Diverse Gathering Where the People Aren’t Talking About Diversity”Stephen Green
Built Festival and Built Oregon – champions Diversity by supporting entrepreneurs, businesses, communities.
Money was mentioned as a bonus to diversity during an online event with the wonderful Trudi Lebron and Louiza Doran of That’s Not How That Works podcast and Working Towards Woke coaching. They mentioned there is research and data demonstrating diverse companies and organizations that foster teamwork and contributions make more money. Again, diversity results in improved bottom line.
Diversity of generations, genders, races, backgrounds and experiences in human teams helps increase diversity of thought, strengthens teams and communities, and is a high tide that raises all boats. Our planet thrives on biodiversity, human teams can thrive on diversity, equity, inclusion.
Definition of diversityMiriam Webster
1: the condition of having or being composed of differing elements : VARIETY especially : the inclusion of different types of people (such as people of different races or cultures) in a group or organization programs intended to promote diversity in schools
2: an instance of being composed of differing elements or qualities : an instance of being diverse a diversity of opinion
Even in 2019 the vast majority of pitch fest, business awards and celebrations of entrepreneurship appear to have little diversity. Pitch Black and Pitch Latino were created because there has been so little opportunity for minority founders to pitch for investments and support. Investing in minority companies is shockingly low. And year after year many pitches and awards continue to go to non-minority companies.
Business partners, support, collaborate and supply to each other. Diversity is needed in collaborations outside of companies in addition to the array of employees within them. Minority owned companies need to be noticed, our communities need them to be supported, it’s better for everyone. Money lifts communities.
“The Western world needs innovation, widely spread ownership and diverse firms that adapt fast to society’s needs. That is the really enlightened kind of capitalism.”The Economist August 24th 2019
Mighty Epiphyte supports companies and helps enhance mission and values.
CONTACT US: @mightyepiphyte | firstname.lastname@example.org | Learn More Here #mightyadvocate Kim is a mighty advocate for people, planet, profit and the greater good.
*References and Awesome Articles!
Charts and graphs couresty of: Jen Coyne, Co-Founder & CEO: The PEAK Fleetand Cinthia Manuel, Founder & CEO, Autentica Consulting
Post by Stephen Green on Medium.com, “We Out Here (yes, even in Portland)”
Paloma Medina 11:11 TED – The Neurology of Equity, Diversity and Inclusion
McKinsey July 2015 Why Diversity Matters
McKinssey 2018 Delivering Through Diversity 2018 Report
CSR headlines – High-Impact Diversity and Inclusion – Bersin by Deloitte
Trudi Lebron & Louiza Doran – That’s Not How That Works
Malia Spencer in the Portland Business Journal Oct 31, 2019 Connecting People of Color in the “Whitest” City in America
Della Rae, Director Oregon Women’s Health Network
Louis Woods PhD Dumb Sh*t White People Say Vol 1
B Lab UK in Medium Jun 11 How Businesses Can Create Brighter Futures for People Seeking Refuge
And So Much More!