MAXIMIZING SUCCESS THROUGH A DIVERSE WORKFORCE
OR… “DI”SRUPTION TO OPTIMIZE SENIOR LIVING Presenter:
Randall Ian Thames Senior Partner Korn Ferry International
Outcomes of today’s session HOW TO OPERATIONALIZE DIVERSE GROUPS HOW TO SHOW GROWTH THROUGH D&I STRATEGY HOW TO MEASURE INNOVATION
REIMAGING THANKSGIVING
DIVERSITY is the ‘mix’…. INCLUSION is making the ‘mix’ work.
Dimensions of diversity
CURRENT CONSUMER POOL, BOOMERS WILL SHIFT TO FUTURE CONSUMERS, GEN X AND MILLENIALS NOT SAVING DUE TO RETIREMENT & SAVINGS MODELS NOT DEFINED
DEMOGRAPHICS SHIFTING CREATES OPERATIONAL MODEL SHIFT TO LOWER PRICEPOINTS
Diversity and inclusion Key drivers of team and business performance
Diverse and inclusive organizations outperform their peers
70% Higher growth 70% more likely to capture new markets.
75% Faster time to market 75% more likely to see ideas become productized.
35% Better
profitability
Companies with ethnically diverse executive teams 35% more likely to outperform on profitability.
83% Better innovation
Employees 83% more likely to drive innovation.
Successful companies leverage diverse and inclusive teams to make better decisions and solve complex tasks
87%
Better decisions
Make better decisions 87% of the time.
87%
Impact on performance
87% of The Most Admired Companies see positive impact of D&I on their business performance.
Š 2019 Korn Ferry. All rights reserved Sources: McKinsey, BCG, Center for Talent Innovation, Erik Larson, Korn Ferry
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Diverse and inclusive organizations outperform the competition Access to capital
Increased revenue
More innovative
Over 40% of asset owners are actively engaged in diverse board selections4
A 1% increase in diversity yields a 9X increase in sales revenue2
Diverse organizations generate 34% more of their revenues from innovative products and services1
Investors are demanding diversity in Board and Executive appointments.
Success in today’s global market relies upon diverse perspectives driving novel solutions. 1
Diverse thinking drives innovation and disruption.
Increased retention
60% of employees would have stayed if their company had been “more fair and inclusive’” 3
Employees stay when work culture accepts and encourages different voices and styles.
2017,BCG and Technical University of Munich; 2 University of Illinois, Dr John Sullivan; ;3 2017 study by Ford Foundation & Kapor Center for Social Impact of tech industry; 4 Diversity for Investors Perspective: Why and how the most forward-looking asset owners are addressing diversity and inclusion (November 2017);
TO SURVIVE Organizations need talent that matches the complexity of the world they operate in.
TO THRIVE
a
Organizations need to unlock the power and potential of all talent.
DIVERSITY AND INCLUSION IS THE KEY INGREDIENT
© 2019 Korn Ferry. All rights reserved
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