It's Time to Talk about Race at Work

CHAPTER 4The Business Case for Diversity

Here's a fact that may come as a surprise to you: Businesses that are diverse do better in every way that matters in business. No exceptions. Study after study proves again and again that diverse businesses perform better on every metric that businesses use to evaluate success:¹

• Higher sales
• Higher profits
• Better company reputation
• Enhanced company image
• Higher brand value
• Customer growth—in new customer acquisition and customer expenditures
• Higher customer satisfaction
• Greater customer loyalty
• Better customer insights and ability to anticipate customer needs
• Greater ability to attract and recruit talent
• Better quality of employee applicants
• Broader talent base with new and untapped perspectives
• Better problem-solving
• Better employee performance and productivity
• Higher levels of employee engagement
• Higher levels of employee satisfaction
• Reduced employee absenteeism
• Better employee retention
• Increased creativity
• More solutions
• Increased adaptability
• Greater innovation
• Higher market share
• A better, sharper, two-sided, competitive “edge”:
  • The first “edge” that diverse companies have is that they are equipped to serve their diverse customers better. Customer service improves when staff can communicate effectively with customers from a range of backgrounds. When you have a diverse team, they bring their insights and experience to the table. They're going to deliver a better customer experience because they understand what diverse customers ...