TechDiversity wants to show and inspire leaders on how to leverage DE+I for real business outcomes and a competitive edge
Diversity, Equity and Inclusion (DE+I) is a potent tool for business growth, when diversity, equity, and inclusion (DE+I) are integrated into the DNA of an organization, the broader business strategy and key business outcomes become more attainable. By prioritizing DE+I, organisations can cultivate a culture that embraces diversity and promotes inclusivity, which in turn can lead to a more engaged and productive workforce, better decision-making, and improved innovation. This can ultimately contribute to the achievement of key business goals and outcomes.
In summary, DE+I in workforces can provide a competitive edge for
organisations in several ways:
- Access to a wider talent
- Increased creativity and innovation
- Better decision-making
- Improved reputation and brand image
- Improved employee engagement and retention
A Boston Consulting Group study found that companies with more diverse management teams have 19% higher revenues due to innovation.
Research that supports DE&I as a main driver for business growth
- A Forbes insight study revealed that diversity is a key driver of innovation in the workplace
- McKinsey’s latest report shows not only that the business case remains robust but also that the relationship between diversity on executive teams and the likelihood of financial outperformance has strengthened over time
- Research shows that inclusive teams perform up to 30% better in high-diversity environments, according to Gartner
- Organisations with a DE+I strategy help with recruitment and winning top talent, Harvard Business Review reports that having a high sense of belonging can increase job performance by 56% or more, reduce turnover by 50%, and significantly decrease the number of sick days
- The business case for ethnic and cultural diversity is strong, in 2019, companies in the top quartile bested those in the fourth quartile by 36 percent in profitability. Notably, the likelihood of outperformance continues to be higher for diversity in ethnicity than in gender. (Source McKinsey)
- According to the Tech Council of Australia’s research, more women enter the tech workforce after the age of 25 than
before the age of 25, a talent pool waiting to be leveraged.
- Another 2020 report from the Australian Computer Society, found that women and people from culturally and linguistically diverse backgrounds remain underrepresented in the Australian technology industry. The report found that only 28% of the industry workforce is made up of women, and just 3% of the workforce identifies as Aboriginal or Torres Strait Islander. Again, an excellent talent pool for leaders to nurture and grow, and another reason to ensure organisations are attractive to diverse groups.
Ways we help leaders leverage the power of DE+I to meet their business goals
Send HR and DE+I specialists to our Academy
Sending your HR and DEI specialists to our DE+I academy can provide your organisation with benefits we outlined above such as increased innovation, a competitive edge and more. By providing specialised training, our academy can help HR and DE+I specialists develop the skills they need to think more strategically about diversity, equity, and inclusion as part of a business driver. This can lead to a more comprehensive and effective DE+I strategy that takes into account the bigger goals of a business such as growth and workforce happiness and productivity.
“The TechDiversity Academy has been a fabulous program. There is a lot to learn, both from skilled facilitators as well as from the rich and robust discussions from a diverse group of participants”, Jennifer Tod, 2022 Course Participant, Head of People & Culture, Littlepay
Explore our DE+I delivery partners
TechDiversity works with a carefully selected network of DE+I delivery partners, browse our categories to find your perfect partner, they are all experts in their field from DE+I recruitment, DE+I measurement to leadership coaching.
Attend our DE+I Awards
Many business leaders attend our annual awards night to get an understanding of how their peers are implementing and benefiting from DE&I strategies. They bring management teams to showcase DE+I as a business enabler, invite HR and DE+I specialists to inspire them even more. With ticket pricing to suit every budget, it’s a popular choice for leaders. Learn more.