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 firstname.lastname@example.org.
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:
There also needs to be an understanding of the toll that caring takes on the mental, and sometimes physical, health of the individual. The constant mental burden of ensuring that both children and the elderly are cared for needs to be recognised by managers, followed by an honest discussion with employees about how best to manage and support it.
Next year will see some kind of embarrassing calamity related to artificial intelligence and hiring. That’s according to Forrester’s predictions for 2024, which prophesied that the heavy use of AI by both candidates and recruiters will lead to at least one well-known company to hire a nonexistent candidate, and at least one business to hire a real candidate for a nonexistent job.
Management is a task most of us simply learn on the job—and those jobs are changing at a rapid speed. Now, it’s more common to talk about learning mindsets and skills training as if leadership is yet another talent you have to develop yourself.