The benefits of forging an inclusive culture are clear, but we still have some way to go.
There is now a wealth of data on the benefits of diversity and inclusion. For example, research from BCG shows that companies with more diverse leadership teams report that 45% of their revenue comes from innovation, compared with 26% for less diverse leadership teams. McKinsey data shows that more gender-diverse executive teams are 21% more likely to generate profits that are above average in their sector.
Data also shows that when companies create an inclusive culture, they have happier and more engaged employees, bigger talent pools to recruit from and are more productive. Clients actively seek out diverse and inclusive companies. People want to work for employers with good employment practices and they want to feel both valued and free to be their “authentic selves” at work, no matter their background or differences.
However, as the figures and quotes in the infographic below suggest, companies – and the accountancy profession – have some way to go in embracing diversity and inclusion. A lack of diversity is visible at the top of companies and a large proportion of accountants have witnessed discrimination.
This series aims to show how chartered accountants can help to encourage an inclusive profession.