A 2018 report titled “Delivering through Diversity” by McKinsey & Company took a deep dive into the subject of diversity at the workplace and came out with many eye-opening insights. For one, companies in the top quartile of gender diversity were 21% more likely to achieve above-average profitability. Conversely, companies in the lower quartile were 29% less likely to realize above-average profitability.
The company’s follow-up report for 2019 only reaffirms the growing impact of inclusion & diversity on profitability. And then the pandemic hit!
Do companies still care enough to champion diversity in the workplace in 2021? If not, are they justified in letting it slide down their priority list? Let’s find out.
Understanding the Post-COVID Business Landscape
The pandemic and the uncertainty surrounding it have put companies in a tough spot. Businesses are responding to the crisis differently. Some companies consider diversity & inclusion a part of their organization’s culture; others look at it as just another compliance task. Usually, the differences in intent are not apparent under normal circumstances; however, a crisis situation like a pandemic makes them conspicuous.
