Leverage Diversity to be More Successful
Increasing diversity and inclusion in organizations is not about “doing the right thing” but rather is essential to the success of organizations. Catalyst helps organizations build the business case for diversity and inclusion, starting with our Why Diversity Matters.
In the Workplace
Bringing diverse talent into the workplace is essential but not enough. In order to maximize the benefits of a vast array of talents, backgrounds, work styles, and interests, you need proactive supports, described in Catalyst’s series of Practices, that embed inclusion into talent management systems, work designs, and measures of team effectiveness, and reinforce it as an essential management behavior.
In the Marketplace
The more an organization’s workforce mirrors its markets, the more likely it is to understand consumer needs and build relationships that deliver long-term value. Organizations that serve other businesses find that clients in many fields are becoming more diverse, and are demanding greater diversity from their service providers and business partners.
Supplier diversity allows you to benefit from broad access to the best value, highest quality, and most competitive goods and services. It also expands the vitality of communities, embeds strong values of corporate citizenship, and creates the win-win advantage of making competitive bid opportunities available to all. Diversity throughout the supply chain drives home diversity and inclusion’s (D&I) impact on workplaces, smaller businesses, families, and communities. Helpful resources include the National Minority Supplier Development Council, Women’s Business Enterprise National Council, SBA 8(a) (a directory of federally certified minority and woman-owned businesses), and the National Gay & Lesbian Chamber of Commerce.
D&I does not only refer to what happens within the confines of an organization. The reputation of an organization is determined by its actions within its communities as much as it is by operations among employees. Corporate governance, ethical behavior, and transparency are all critical mandates for running successful businesses, and many enterprises benefit greatly by promoting “open innovation” and soliciting ideas from diverse constituents of their larger communities. Catalyst's report, Gender and Corporate Social Responsibility: It’s A Matter of Sustainability, has found that gender-inclusive leadership and corporate social responsibility (CSR) are linked, leading to sustainable big wins for companies and society.