![]() ![]() The consultancy found that companies in the top quartile outperformed those in the fourth by 36 percent in terms of profitability in 2019, marginally up from 33 percent in 2017 and 35 percent in 2014. In terms of ethnic and cultural diversity, McKinsey & Co’s conclusions were equally compelling. That number was up from 21 percent in 2017 and 15 percent in 2014. ![]() In May last year, global consultancy McKinsey & Co published an extensive report based on analysis that found that in 2019, companies in the top quartile of gender diversity on executive teams were 25 percent more likely to experience above-average profitability than peer companies in the fourth quartile. The report should foment an already well-documented economic incentive for creating workplaces that proudly reflect the demographic makeup of the broader communities in which they operate. “These findings can be considered to support the view that socially progressive corporate policies and diversity management pay off and create value for the firm.” “Taken as a whole, our empirical findings provide strong evidence to suggest that LGBT-friendly corporate policies enhance firm performance,” they conclude.
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