{ "media_type": "image", "post_content": "Interesting article\n\nhttps://qz.com/work/2038103/is-mckinsey-wrong-about-the-financial-benefits-of-diversity/", "post_id": "61055c38b83fa000224e63ae", "reply_count": 17, "vote_count": 6, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }
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A diverse, inclusive culture definitely improves talented women/minority employee retention/satisfaction. On this relationship alone, the business case for diversity is clear.

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OP - What do you find interesting about this article?

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A2, since you have it figured out, what assumption(s) did I make?

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Even if there aren't any financial benefits, hope that responsible firms do care about diversity.

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Seems like it’s an inevitable byproduct of good hiring practices. Cast a wider net -> have a more diverse workforce (not just in race/sexual orientation/gender but in ideology/socioeconomic background/etc too)

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I don’t buy the financial/business advantages of diversity except in specific businesses. It’s just the right thing to do.

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Why the US became such an economic powerhouse was because we were open to talent from anywhere inside or outside our borders. One way I differentiate communism from capitalism is that communism is inherently an oligarchy/guild/"old boys club" and capitalism recognizes talent - at least in their pure forms.

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Quote from article: “Scholarly researchers have rarely found that increased diversity leads to improved financial outcomes,” Ely and Thomas explain in a 2020 article for the Harvard Business Review. “They have found that it leads to higher-quality work, better decision-making, greater team satisfaction, and more equality—under certain circumstances. Although those outcomes could conceivably make some aspects of the business more profitable, they would need to be extraordinarily consequential to affect a firm’s bottom line.”

The researchers by looking at only large companies in S&P 500 may probably have more tech firms in the sample set. They also are inadvertently looking at companies which have the least likelihood of bankruptcy. But to accurately measure returns, you need to capture the riskiness of returns and this may not be properly accounted for by the sample. As some researches I have encountered point out (from my simplistic point of view), diversity is important in innovation but also in risk mitigation. What I think they are not accounting for with their sample set is the benefits of managing the downside. I will also be cautious to measure returns only on the basis of short term balance sheet results

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"At Accenture we have an unwavering commitment to equality, inclusion and diversity. We have zero tolerance for hatred, bigotry and racism of any kind." -Julie Sweet

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Doing benchmarking for the Women’s ERG at my company, anyone willing to share if their employer offers egg freezing benefits and if so what it covers?

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Another win for diversity!

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For those who do not have a nanny or childcare but are still working, how are your days structured? Is this doable? Moving to suburbs and looking to enroll our kid in a toddler program in June. Our nanny can’t come to the suburbs so thinking about going 6 months without childcare.

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My work was very understaffed prior to COVID. I hope the healthcare industry learns from this experience and increases staffing appropriately.

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