The thought-provoking article below is the second in our series of essential reads ahead of the Women in Leadership Forum and the Pharma Insight Briefing on Diversity & Innovation, which will take place this October 5 and 6, respectively, during the CPhI Congress in Barcelona. Borderless Consultants Rosalie Harrison, June Nilsson and Niels-Peter van Doorn will present.
The Diversity Matters report from global research company McKinsey highlights the benefits of gender and ethnic diversity to business. The study of 366 public companies in North and Latin America, and the UK showed that companies in the top quartile for women in management roles are 15% more likely to have earnings above the median for their industry. When it comes to racial and ethnic diversity, this figure jumps to 30%.
Fostering diversity requires intent, will and commitment, and there are clearly strong business drivers to support companies who make the effort.
Can’t attend CPhI this year? We’d be happy to come to your business or your conference to discuss these issues further in an alternative forum. Contact us at leaders@borderless.net.
This week’s read: Why Diversity Matters (McKinsey)>
Enjoy the read and we invite you to share your thoughts on why diversity matters via Twitter @borderlessexec #WomeninLeadership #DiversityMatters.
Bonus summer reading:
We’ve all worked for bosses who could have been better — in some cases much better — but inexplicably they remain in charge. Barbara Kellerman has been studying that phenomenon for much of her career. Her latest book, “Leadership from Bad to Worse: What Happens When Bad Festers,” is both a cautionary tale and a call to action.
CEOs are spending more time on making the business case for their environmental and social commitments, and they’re building more rigorous mechanisms for addressing thorny issues and mitigating PR risks. To avoid communications missteps, CEOs should ensure they have the organizational capabilities and tools in place to monitor and analyze emerging issues and to gauge the sentiment of key stakeholders.
The vast majority of business leaders responding to a recent survey said they’re concerned they can’t train employees quickly enough to keep up with AI and tech developments in the next three years. A similar amount said AI and other tech disruptions will require companies to rethink skills, resources and new ways of doing work.
