The Diversity Question, and Why It Matters

“We are all different, which is great because we are all unique. Without diversity life would be very boring.” — Catherine Pulsifer

Diversity is one of the most talked about (and Google searched!) topics surrounding contemporary discussion on equality, political issues, and yes, the professional domain. We here at ThinkTank are committed to curating a diverse team that collaborates their different areas of expertise for the same mission.

We understand the immediate and long-term benefits: our clients, both consultants and enterprise transformation teams, are guided from a multitude of perspectives that come full-circle in regards to managing a group of individuals. Here are just four of the questions that come up when companies choose to prioritize diversity:

What is diversity? Though today’s political dialogue tends to focus on the racial and gender sectors, there are  more ways in which your team can be diverse. Diversity can come in many forms, including the skills, gender, interests, homeplaces, languages, and racial or ethnic backgrounds of your team members. These qualities are not the only methods to “measure” diversity, but they can be a good start in evaluating your team’s potential. 

How can diversity contribute to a positive workplace culture? A positive workplace is one in which everyone feels supported and valued. When management says yes to diversity, they are also saying yes to unique skills, backgrounds, and traits. Employees will feel that they are not just at work to complete a task, but rather that their expertise is essential to the success of the organization. And, they can learn from others in the process!

How does diversity play into the fiscal side of an organization? The complex financial sector offers a simple answer to this one: it pays to have a diverse team. In fact, companies ranking in the top quartile of racial and ethnic diversity bring in 35% more ROI than companies that don’t. A team of unique individuals can connect with a broader scope of clientele, as well as achieve pointed solutions from educated backgrounds. Thus, the company aids more clients in finding better results – a real win-win.

How can I incorporate diversity into my corporate strategy? One of the worst maladies that can infect a business is what we like to call “Yes-Man Syndrome.” This is when everyone in the group agrees, no questions asked. While this may seem like a winning moment, it is in fact very dangerous. Often the best partner is your biggest critic, someone who will make you think through your strategy and anticipate obstacles. These key steps can only be completed by a team who challenges each other with different perspectives. A platform like ThinkTank can help. ThinkTank incorporates buy-in with your alignment strategy, ensuring that your diverse team can achieve the most.