Diversity & Inclusion in 2016

Earlier this month we read an interesting article in Forbes Magazine by Josh Bersin, a researcher responsible for a recent two year Deloitte Talent Management study which states: “Companies that embrace diversity and inclusion in all aspects of their business statistically outperform their peers.” The study focuses on diversity and inclusion from a Human Resources (employment, management and leadership) perspective. Between June 2013 and July 2014, we wrote several posts based on the book The Inclusion Dividend: Why Investing in Diversity and Inclusion Pays Off by Mark Kaplan and Mason Donovan. Deloitte’s research goes a step forward in documenting how companies that are committed to diversity and inclusion (D&I) benefit – in a very real financial sense. In Bersin’s Business Impact Of The High Performers section; he details how “… companies at levels 3 and 4, who we label inclusive and managed talent companies, are quite exceptional businesses. Specifically, over the period we studied, these companies are:

• 2.3 times higher cash flow per employee over a three-year period
• The smaller companies had 13 times higher mean cash flow from operations
• 1.8 times more likely to be change-ready and 1.7 times more likely to be innovation leaders in their market

In short, these level 3 and level 4 companies are not just better at HR – they are higher performing companies measured by business, financial, and talent outcomes.”

In his conclusion, Bersin notes: “We live in an increasingly diverse world – strong businesses reflect this society. Take inclusion and diversity and put it high on your agenda for 2016.”

While we SDMWVLGBTBE (Small, Disadvantaged, Disabled, Minority, Women, Veteran, Lesbian, Gay, Bisexual or Transgendered Business Enterprise) owners may not have such detailed research statistics available, we can certainly attest to how our certified businesses bring unique solutions and value-add to each of our customers’ purchases. Because our customers value D&I in procurement, we are able to grow our businesses.  And, as we said in April 2015, ” … being involved in the SDMWVLGBTBE community should mean more than taking advantage of opportunities.”  We’ve often written about walking the walk, creating our own opportunities for and supporting other SDMWVLGBTBE businesses. Climbing up on our soap box yet again, we believe that members of the SDMWVLGBTBE community should support other members when looking to engage project partners or establish new procurement resources. We expect our potential clients to “walk the walk” to engage with us. It only seems fair that we join them in this walk.

So, in 2016, we urge everyone to commit and make it the best year yet for diversity and inclusion in our own businesses and in support of our customers.

Happy New Year!