Diversity & Inclusion Improve Growth & Profitability
The FCS Diversity & Inclusion Steering Committee is committed to providing a platform for improving diversity within financial services through education, engagement and leadership. Diversity, equity and inclusion are not only better for the people who need to be brought into our organizations and career journeys, but they directly benefit the companies in our industry – from our financial institutions to our creative agencies to our media partners. We invite our colleagues to consider the following:
How women’s employment boosts growth and income.
“Men and women complement each other in the workplace in terms of different skills and perspectives, including different attitudes toward risk and collaboration. As a result, increasing women’s employment boosts growth and incomes more than previously estimated, exceeding the improvement that comes simply from adding workers.” (1)
How diverse teams outperform on profitability.
“Companies in the top-quartile for gender diversity on executive teams were 21% more likely to outperform on profitability. Companies in the top-quartile for ethnic/cultural diversity on executive teams were 33% more likely to have industry-leading profitability. That this relationship continues to be strong suggests that inclusion of highly diverse individuals – and the myriad ways in which diversity exists beyond gender (e.g., LGBTQ+, age/generation, international experience) – can be a key differentiator among companies.” (2)
Let’s continue to band together to drive continuous change and improvements for the good of all by sharing stories and educating one another.
(1) Era Dabla-Norris and Kalpana Kochhar, “Closing the Gender Gap,” International Monetary Fund (March 2019), https://www.imf.org/external/pubs/ft/fandd/2019/03/closing-the-gender-gap-dabla.htm.
(2) Vivian Hunt, et. al. “Delivering through Diversity,” McKinsey & Company (January 2018), https://www.mckinsey.com/business-functions/organization/our-insights/delivering-through-diversity.