31. Corporate diversity: if you don’t measure it, it won’t get done
Dec 20, 2019
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Celia Huber, Senior partner at McKinsey, discusses the importance of measuring diversity and inclusion in businesses, the role of private equity in fostering diversity, and the need for transparency and accountability in corporate diversity efforts. It also explores the lack of representation in C-suites and provides insights on visible excellence and inclusive behavior.
High-performing companies exhibit greater diversity, although it may not directly drive performance.
Promoting diverse women, particularly at the entry to first-level management stage, is crucial for improving diversity.
Deep dives
Diversity and High Performance
Research shows that high-performing companies are more diverse across industries and countries. Although diversity may not directly drive performance, every successful company exhibits greater diversity.
Challenges in Advancing Diversity
The Women in the Workplace survey reveals that diversity is not consistently improving, with women often facing barriers in career progression. Companies must focus on promoting diverse women, especially at the entry to first-level management stage.
Creating an Inclusive Environment
Being the only diverse individual in the room negatively affects inclusion and can lead to decreased job satisfaction. To foster inclusivity, companies should focus on mentorship and sponsorship, as well as cultivate an inclusive leadership culture.
Read more > Listen to the podcast (duration: 24:13) > At our CFO Forum in London, senior partners Celia Huber and Vivian Hunt led a discussion on corporate diversity, sharing insights from McKinsey’s ongoing research and answering questions from attendees. This episode is an edited recording of the session. Celia begins with an introduction of McKinsey’s work with LeanIn.org and theWall Street Journal surveying the state of diversity in the corporate world.