I am the cofounder and President of PowerToFly. I'm sharing my experiences working with America's largest companies to diversify their teams. Sometimes I'll throw in some random stories... and some studies that show the economic benefits of gender parity.
I was in media for over ten years as the sixth employee and head of the homepage at Huffington Post, the Executive Director of Digital at The Washington Post and the Founding Managing Editor of NowThis. So I've been around a bit.
Follow me on twitter @kzaleski
My cofounder Milena and I shared the note below with our team this week. We wanted to share it publicly with our community as well:
*Resources Updated Regularly*
We wanted to let you know what we're doing here at PowerToFly to help you get through this period of uncertainty, as we navigate the significant impacts of COVID-19.
This is a harsh post. So why am I writing it? Because I've seen way too many people make this mistake recently.
As the Cofounder and President of PowerToFly, I've been to my fair share of conferences and networking events. PowerToFly ran over eighty events over the last twelve months!
Recently, a recruiting manager at one of the world's largest companies told my team he was struggling to build a case for investing in more diversity-focused initiatives. His employees were questioning why their company would be spending money on diversity recruiting campaigns, including events, where women and people of color could hear why the company should be considered an inclusive place to work.
I was shocked. It's 2018. Homogeneous teams are not only bad for business and the economy as a whole, but diverse teams literally strengthen profits and innovation within workplaces.
Study after study has proven this.
Then it dawned on me that so many people are ill-equipped to make a case for the benefits of diversity in the workplace.
Don't worry. What follows is a quick guide for how to make the case. It includes research from Harvard, McKinsey, Gallup, and peer reviewed studies for you to lay out how your business could be reaching new levels of productivity, profitability, and long-term enhanced recruiting outcomes if diversity were to become a priority. Take this to your boss, skeptical colleagues, and even your uncle who argues that his male-dominated workplace doesn't need to change.
1. Diverse Teams Produce Financial Returns 33% Higher Than The Industry Mean<img lazy-loadable="true" src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8xODc3OTkyOS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYyMDkzMDIyNH0.7vg5tOhyQ7qlc3M6VfZ73SQiKcWYldcF2tllPauMs90/img.png?width=980" id="78ad9" class="rm-shortcode" data-rm-shortcode-id="d224014792f267f4222eea1085c131d6" data-rm-shortcode-name="rebelmouse-image" /><p>A <a href="https://www.mckinsey.com/business-functions/organization/our-insights/delivering-through-diversity" target="_blank">2017 McKinsey Study</a> used a data set of 1,000 companies to determine that profitability and long-term valuation increased dramatically when teams were diverse. </p><p><strong>Say this to your boss and team members:</strong></p><ul><li>This McKinsey study proves that returns rise when you have people working at your company who represent the vast array of customers you're trying to reach. </li></ul>
2. Gender Diversity Could Grow The US Economy By 5%.<img lazy-loadable="true" src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8xODc3OTk2Ni9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY0MjcwMzQ0N30.AuaBIvfo5QWmhCiba8gzuopy9hnsthizAbKezFijt0g/img.png?width=980" id="1d0c7" class="rm-shortcode" data-rm-shortcode-id="6ced79bd8f0a138a2eafc85608020676" data-rm-shortcode-name="rebelmouse-image" />
Source: Building Inclusive Economies<p>The IMF showed that closing the gender gap in labor force participation in the United States could boost GDP by an estimated 5 percent.</p><p><span></span><strong>Say this to your boss or team members:</strong></p><ul><li>When women have higher paying jobs, they create multiplier effects for their communities because they reinvest more than men do (look at the studies) into the health, nutrition, and education of their children. </li><li>It's called "<a href="https://www.cfr.org/report/building-inclusive-economies" target="_blank">womenomics</a>" and instituting it literally saved Japan from a recession when its workforce was aging out.</li></ul>