Diversity is no longer a pet project on the sidelines of corporate life.
A number of trends indicate that companies with a diverse workforce are likely to perform better in the years to come.
According to official data, the amount of mutual fund assets under management (AuM) is shifting from the Global North to emerging markets. AuM decreased by 10% in Europe in the past three years, while it increased by 37.6% in Brazil and Chile and by 19.2% in Asia including China, India and Korea.
Multinationals from emerging economies are engaging more and more with businesses in Europe and the US. Companies with a diverse staff will find it easier to understand these new business partners. A diverse workforce brings a mixture of experiences and resources that employers will be able to turn into a powerful competitive advantage when dealing with other parts of the world.
And let’s not forget that Generation Y is coming into the workforce and is looking for jobs that resonate with their values. Inclusion ranks high among them. Gen Y is used to being in contact with people from other cultures. Social networking and online games have turned their world into a digital orange.
Annette Verschuren, President and CEO of The Home Depot for Canada and Asia, believes that the business secret of the future will be about including and inspiring people who in the past we thought did not belong.
Bieneosa Ebite and I will be talking about Cross Cultural PR and Diversity at the CIPR in October. Bienosa is the managing director of Bright Star Public Relations and a founding member of the UK Black and Asian PR Networking Group, which aims to encourage diversity in the PR industry.
Click here to join us on 12 October.
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