Improving Executive Sales Diversity in 2021
6 months ago
We at LEDR Executive Solutions are committed to helping companies meet their talent goals, which also includes helping companies meet their recruiting diversity goals so that they can better connect with employees and customers.
Why does diversity matter in growing a company? These 4 main reasons explain why diversity is so important.
- Studies have shown that executive teams with women as part of the team have greater financial performance. Companies in the top quartile for executive team diversity were 25% more likely to have above-average profitability in 2019. What's more, the financial performance associated with diversity is growing over time. According to a McKinsey study, there is a 14% likelihood of above-average financial performance as a direct effect of gender diversity.
- Ethnically diverse companies outperformed their less diverse counterparts by 36% in 2019. Similarly, the financial performance of a company linked to diversity has increased over time, according to McKinsey data.
- According to some data, companies have a higher risk of being boycotted due to a lack of diversity. In 2020, nearly 40% of consumers were currently boycotting a company due to these factors. According to a Qualtrics study, about 1 in 5 of consumers stated that if a company is not diverse, it will affect whether or not they will do business with them.
- Diverse Sales Teams Increase Revenue. As the population becomes more diverse, the diversity of a business should match that so that there is representation in all ways.
These 4 clear reasons for why diversity is important in your company should be taken into consideration when hiring new employees.
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