Everything You Need To Know About Delivering through Diversity The Follow Up Study To The Famous McKinsey Report [Report Breakdown]

Today, I want to talk about the McKinsey Report: Delivering Through Diversity. This is a study that you can think of as the follow up to the celebrated Diversity Matters report from 2015.

As discussed previously, the 2015 report is one of the most cited sources that is used to justify the business case for diversity in organisations.

I dedicated a whole show to the report because it so widely referenced and so often misrepresented or misquoted.

I think this new report is important because of how it will be interpreted. Also because I don’t imagine many people will carefully read it in order to understand the true meaning of the findings presented. That said, I’m sure it has a lot to offer.

In todays show I discuss several things including:

  • Why the Delivering Through Diversity report is important
  • The Key findings of the report.
  • The Key limitations of the report and much much more.

Here’s some of what I share in the show:

The New Report Addresses the Limitations of the Previous Report:

I explain how this report attempts to provide more evidence to support the relationship between diversity and business performance and broadens the scope of the study to address previous limitations:

“What I immediately like about this report is that it appears to recognise the limitations of the previous report and attempts to address them, which is always a good sign”

Companies pay a penalty for not being diverse:

I describe how the research shows not only is there a relationship between diversity and business performance, the data suggests that ignoring this relationship results in financial penalties:

“Companies in the fourth quartile on both gender and ethnic diversity are more likely to underperform their industry peers financially. Specifically, they are 29% more likely than the other three quartiles to underperform on profitability”

Define Inclusion & Diversity Priorities Based on a Specific Business Growth Strategy:

I explain the importance of using Inclusive practices to achieve strategically relevant goals for an organisation; describing how this takes time and investment:

Companies succeeding on Inclusion and Diversity are able to clearly articulate the link between Inclusion goals and specific business growth priorities. Often as a result of investment in internal research to understand their specific value drivers and circumstances”

Show notes

Here are some selected links to for the resources and reports I discuss in the episode.

Why Diversity Matters: A Review of the “McKinsey Report”

Diversity Matters: “The McKinsey Report”

Delivering Through Diversity 

Green Park Leadership Index

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The Elements of Inclusion #4

Leaders must collaborate innovatively to leverage cultural expertise and drive business performance.

  • Why inclusive outcomes are driven by innovation
  • How developing a business case for diversity and inclusion specific to your organisation is a competitive advantage
  • Why novelty is at the heart of your inclusion journey

The Elements of Inclusion #3

Leaders must establish systems to ensure that everyone shares the same advantages and benefits. These processes will create incentives for inclusive behaviours.

  • How to augment your team with the tools and insights they need to prevent structural disadvantage
  • Why reinforcing generative norms ensures everyone belongs in the organisation
  • How inclusive representations can be embedded to promote an inclusive culture

The Elements of Inclusion #2

Leaders must redefine career development relationships to support inclusive performance.
  • Why traditional mentor relationships must be revised for an inclusive workplace
  • How leaders must embrace networks of developmental relationships for individual growth
  • Why established workplace norms must evolve for inclusion in the modern workplace

The Elements of Inclusion #1

Leaders must properly socialise people and socialise inclusive ideas by providing an environment for the cultural learning needed for an active role in an inclusive organisation

  • How your socialisation processes must evolve to encourage the sustainable cultivation of inclusive competencies
  • Why Leaders must consistently negotiate the line between organisational commitment and personal authenticity to promote performance
  • How developing intersectional self awareness can help leaders to leverage individual employee experiences