Here’s the truth–everyone nods and agrees on how important it is to address the lack of diversity and inclusion, but ultimately nothing changes.
It’s a seemingly hard, complicated discussion that has become a core topic of the industry, but not a business imperative because there’s a hard time connecting what could be classified as social good to one thing – profitability.
We’ve proven time and time again the inaccuracy of this line of thinking – that diversity is a social good issue – by the more than $4.8 trillion dollars controlled by underrepresented minorities and how that has cost recently “color-blind” corporations billions in revenue or brand value.
By continuing to lead with culturally stale teams who are disengaged and disinterested in the consumers of today, executives are losing out on billions in revenue for their company. Even if your company hasn’t found itself in hot water for offending consumers, you are still failing to capture savings and revenue.