Companies with Successful Diversity Programs

February 15, 2016
Diversity is one of the core growth principals of successful organizations with the concept of ROI-Based Diversity following a simple proposition: the more audiences you market your services or products to, the more opportunities you create to generate revenue. Accordingly, the more diverse potential customers that you have in your pipeline, the more opportunities you have to increase your revenue.

ROI-Based Diversity acknowledges the globalization of the business world and the need for even the smallest businesses to market to multiple demographics. “One size fits all” doesn’t cut it in our rapidly changing world and different demographics respond to different cultural nuances. Regardless of the channels you’re using, your marketing messages need to be flexible and be designed for the cultural markets you are looking to attract.

In the most basic of terms, Diversity = Revenue.

In order to market to such a diverse channel, you must start from the inside and work your way out. The more diverse a company is from within, the more diverse they can market themselves to their consumers. When a company champions diversity, which functions as a social cause, they become more appealing to today’s selective consumers. Consumers aren’t as interested in simply buying a product – they want to buy a feeling. If a company can market its diversity, they can truly increase their profit margin while experiencing all of the internal benefits of diversity and inclusion to their organization.

Diversity Inc. published the list of the top companies leading the way in diverse practices both in and out of the work place. Coming in at number one for the 2015 poll is Novartis Pharmaceuticals Corp, who attribute their success to three factors; Innovation, Integrity and Inclusion. Being in the field that Novartis is in, diversity of thinking leads to innovative solutions, the company’s diversity gives it the ability to find creative solutions and bring drugs to new marketplaces. The company’s outstanding merit in inclusion is accredited to using their talent pipeline to represent more “under-represented” groups, with the most significant results for women.

The growing conscious effort to capitalize on diversity and inclusion is a trend that is only making companies more successful. In today’s world, diversity in the workplace is no longer a nice-to-have, but a must-have for organizations that want to maintain competitive advantage in a global environment. Diverse and inclusive organizations are able to deploy a wide range of knowledge and skills, reach out to a varied client base, and motivate talented employees from all backgrounds to perform their best. Many Organizations these days are using mentoring to enable diversity within the workplace, for more information on mentoring for diversity solutions, click here.

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