How Does Workforce Diversity Affect Business Performance?
Research has shown that diverse teams outperform homogeneous ones. A study by McKinsey & Company found that companies in the top quartile for racial and ethnic diversity are 35% more likely to have financial returns above their respective national industry medians. Similarly, gender-diverse companies are 15% more likely to outperform their peers. Diverse teams are better at problem-solving and decision-making, leading to improved business performance.