By 2050, the United States will be a minority-majority, and as this happens, companies driven to succeed must embrace diversity with open arms. The consumer market and the labor market are becoming increasingly different, with a myriad of people from various backgrounds and lifestyles. As this happens, companies are realizing the impact that this can have across the board, whether it boils down to the group vision, productivity, and team connectivity. According to McKinsey’s 2018 report titled Delivering through Diversity, culturally diverse companies are 33% more profitable than companies without ethnic diversity, and companies with gender-diverse executive teams are 21% more profitable than those that are male-dominated. Here are a few companies succeeding in proudly implementing their diversity strategy to guide you on your way! 

Accenture

Listed first on the “2019 Refinitiv Global Diversity & Inclusion Index”, Accenture has recognized that diversity and inclusion must be a business priority to drive innovation in the company. CEO Julie Sweet has committed to creating a gender-balanced workforce by 2025 and is extremely transparent with their updated progress. Three categories that have developed an innovation mindset and “equality first” culture are (1) Bold Leadership: to set D&I Targets, (2) Empowering Environment: to have creative freedom, and (3) Comprehensive Action: to put policies into practice. They have really emphasized the correlation between diversity and inclusion, and innovation, showing how they can better adapt to consumer demands at any turn. 

AT&T

Named #1 on Diversity Inc’s Top 50 Companies for Diversity, AT&T’s efforts towards D&I Initiatives have not gone unnoticed by its global customer base. Their US management teams are currently 37% female and almost 44% of people of color. They’ve created over 58 ERGs dedicated to bringing employees into important conversations, Believe Initiatives to taking place to make a local change in underserved communities, and a Supplier Diversity Program to engage with diverse businesses and purchase their products and services. Overall, AT&T echoes through their words and actions of the importance of a diverse workforce for more innovative solutions. 

Apple 

CEO Tim Cook has proved again and again how a diverse organization can foster a culture of innovation and improve financial results over time. Cook recruited directly from underrepresented groups of women and BIPOC by transforming traditional hiring practices. He transparently shared these numbers with his customer market, and the company’s performance under this leadership has been at an all-time high. Apple is a top performer in the tech sector and Cook attributes this slow and steady growth to the company’s emphasis on D&I for innovation.

In a Fortune ranking of the “World’s Most Admired Companies”, we have key takeaways of how these leaders have stood out from their peers in several key areas. WMACs hold leaders accountable for driving diversity and inclusion, link diversity and inclusion to the organization’s business strategy, focus on equity, and transparently share diversity success stories and progress. Share your progress with us! 

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“How Diversity Powers Some of the Biggest Companies - PMG - Digital Agency.” PMG, 6 Jan. 2020, www.pmg.com/blog/how-diversity-powers-some-of-the-biggest-companies/.

Hunt, Vivian, et al. “Delivering through Diversity.” McKinsey&Company, Jan. 2018, www.mckinsey.com/~/media/McKinsey/Business%20Functions/Organization/Our%20Insights/Delivering%20through%20diversity/Delivering-through-diversity_full-report.ashx.

Polonskaia, Alina. Royal, Mark. “How the world’s most admired companies drive D&I.” Human Resource Executive. 10 December 2019, https://hrexecutive.com/how-the-worlds-most-admired-companies-drive-diversity-and-inclusion/