There is no shortage of empirical data on why creating an inclusive culture is so imperative. Including stakeholders with diverse perspectives, experiences, perceptions and mindsets creates diversity of thought. It increases collective intelligence, leads to better problem solving and cultivates creativity. In short, cognitive diversity is key to innovation, forward focused thinking and growth mindset, all of which is necessary to drive competitive advantage, profitability and ROI. Quite simply, business goals, objectives and strategies can only truly be achieved in a culture that is grounded in cultivating and valuing all stakeholders equally. An organizational culture that values creativity and collaboration – where everyone’s voice is heard – builds stronger teams and produces better outcomes.
The business world is rapidly changing. We see it every day in technology, in the globalization of the economy and in the diversity of consumer culture. Who is working in the business world is changing too. Research estimates that approximately 10,000 baby boomers will retire per day through at least 2030 at age 65 or older. Replacing them are millennials and Generation Z who hold different views of the workplace. These generations’ values include collaboration, meaning and feedback in the companies in which they work. They have a clear expectation of equal access to opportunities. Companies need to be adaptive and agile in order to attract and retain this new pool of diverse talent, which is crucial to ensuring marketplace advantage, healthy margins and sustainability in the workplace of tomorrow.