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Research Triangle Park—— “Proof Point” – I hear this phrase a lot, especially when organizations reassess global challenges and those within their own communities. The C-suite and board-level rationale is simple: show me what it means to allocate resources when I craft a budget for the challenges I face now and those I expect to face in the next 12 to 24 months.
Last week, I was Black Men’s XCEL Summit, a premier gathering focused on giving Black men the tools to advance through every level of leadership, from entry-level management to the C-suite. Again, I’ve heard the phrase “proof point” being used not only to demonstrate the link between DEI and professional development, but also as an exclamation mark addressing the general link between culture and economy.
capitalism is not racist
part of the summit is fireside to chat with and Kirk MacDonaldCEO GroupMGlobal Communications Group’s Media Division WPP. as a host Derek DingleExecutive Vice President and Chief Content Officer black business, told the crowd that McDonald’s was arguably the most important black leader in advertising. The reach of WPP is incredible. The company currently runs one out of every three ad messages on all platforms worldwide.
Highlighting the strong link between DEI and return on investment (ROI), MacDonald put it bluntly: “Capitalism is not racist. If you’re making money, everyone will work with you to overcome their problems.”
The power of McDonald’s proof point lies in the simplicity of the message.That’s why Diversity Movement Tie DEI programs closely to business outcomes and talk about “real world” results, just as leaders expect ROI from other business units.
This connection between doing what’s right for the world and the business is a fundamental point of proof that C-suites need, but there are still questions in some quarters, as if they’re having trouble dealing with the disconnect between head and heart. They Would like to believe that DEI programs create excellent ROI, but there are still some factors that hinder their large-scale implementation.
McDonald’s leadership at GroupM provides him with a unique macro perspective. From this vantage point, he succinctly explains the proof point: “Good for culture – good for business. Let’s do the right thing, but also have a positive business impact.”
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Why DEI Matters – Proof Points
With unstable economic and political conditions forcing leaders to reassess where they allocate resources, I’ll go back to basics – showing evidence why a great workplace matters now more than ever. We must make C-Suite a reality by gathering evidence and then using that data to demonstrate the critical link between culture and success.
Breaking down the data into topics, I divided them into engagement, innovation, and profitability. In each case, these numbers prove that creating a great workplace can deliver a significant ROI that is measurable and based on actual results.
promise
The contemporary workplace has changed, not only physically becoming a virtual or hybrid environment, but also in the way employees interact with their organizations and with each other. What is a lack of engagement that costs employers? According to a Gallup report, there is about $300 billion in the United States alone.
A healthy culture is a business imperative.Data backs what we’ve learned: DEI improved got engaged and agilewhich is critical to creating a stronger, forward-looking culture.
innovation
Building a successful organization is a talent race against global competitors. DEI programs—rather than draining resources—actually create an environment in which employees perform better. In a tight talent market, another benefit is that potential employees are attracted to a diverse company that lives up to its values.
What we’ve seen is that leveraging DEI as a tool to change culture leads to greater innovation and better productivity and make a decision within the team. The overall result is higher revenue and profitability through greater efficiency.
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Profitability
Building a stronger culture not only leads to greater revenue, but success, but it enables organizations to reduce resource-draining factors such as turnover and low employee morale. From this perspective, culture has a public-facing value, as well as an important value within a company.
Simply adding more female leaders could lead to greater profitability, according to research compiled by the organization Leadership InstituteFor example, companies with women in leadership roles were found to be more profitable compared to peer organizations.
One of the most powerful aspects of creating a great workplace is its direct impact on any organization’s most important ambassadors – its own employees. The simple fact is that happy employees are more productive and generally don’t want to leave their positions.A study from University of Oxford Said Business School Reveals that happy employees are 13% more productive each week. The result for leaders is that these teammates gain productivity for every hour they work each day, or about 200 hours or more per year. Which executive is willing to give up the output of each employee?
When I get back to McDonald’s insightful point: “Good for culture — good for business. Let’s do the right thing while also having a positive business impact,” I thought of the benefits of creating a culture-focused organization based on real-world proof points. We can build better organizations with greater engagement, innovation and profitability, while transforming the lives of our employees, communities and families.
My own last piece of evidence is that culture-focused organizations lead to stronger, more competitive workplaces filled with people who strive to be their best professionally. The transformations that happen at work naturally carry over into their personal lives, helping to build a better world.
About the author
Donald Thompson is CEO and co-founder Diversity Movement. his leadership memoirs, Underrated: The CEO’s Unlikely Path to Success, is now available.He has extensive experience as executive leadership and board member, including for digital marketing agencies go west. Donald is a thought leader in goal achievement, culture change, and driving exponential growth. An entrepreneur, keynote speaker, author, certified diversity executive (CDE) and executive coach, he also serves on the boards of organizations in marketing, healthcare, banking, technology and sports. Donald is “High Octane Leadership“Podcast. The Movement for Diversity (TDM) enables organizations to build and strengthen cultures by connecting real-world business outcomes to diversity, equity and inclusion through a scalable subscription-based employee experience platform. Microlearning platform,”Micro-Videos in Diversity Movements,” was recently rated as fast company “Ideas that change the world in 2022. ” DEI Navigator is a “Chief Diversity Officer in a Box” subscription service that provides SMBs with tools, advice and content that lead to action and results.connect or follow him LinkedIn understand more.