Davos 2015 - The Diversity Dividend | Summary and Q&A

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February 4, 2015
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World Economic Forum
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Davos 2015 - The Diversity Dividend

TL;DR

Greater diversity in the workplace leads to higher shareholder dividends and improved corporate performance, but organizations and countries must address unconscious bias and implement effective policies to fully reap the benefits.

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Questions & Answers

Q: What is the most compelling evidence that diversity in the workplace boosts financial performance?

Research shows that companies with more women on their boards have higher returns on capital and sales. Another study found that having women on boards in China reduced the likelihood of fraud and regulatory violations.

Q: How can organizations address unconscious bias among their teams?

Creating an environment of inclusivity and fostering dialogue about unconscious bias can help to address it. It is also important to have visible senior executives who are committed to diversity and actively seek out diverse perspectives.

Q: How can we promote greater diversity at the leadership level in industries like financial services?

Affirmative action policies that set targets and measure progress can be effective in increasing diversity. It is also important to challenge stereotypes and change perceptions of certain industries to attract a more diverse talent pool.

Q: How can we reduce unconscious bias from a young age?

Education and awareness are key. Teaching young children about diversity, challenging stereotypes, and promoting inclusivity can help reduce unconscious bias from an early age.

Summary & Key Takeaways

  • The panel discusses the evidence linking diversity in the workplace to better financial performance and improved corporate governance.

  • Evidence shows that companies with more women on their boards have higher returns on capital and sales.

  • The panel also highlights the importance of disability inclusion and the need for childcare facilities to support working parents.

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