Diversity + Inclusion = Better Decision Making At Work
According to the research, teams outperform individual decision makers 66% of the time, and decision making improves as team diversity increases. Compared to individual decision makers, all-male teams make better business decisions 58% of the time, while gender diverse teams do so 73% of the time. Teams that also include a wide range of ages and different geographic locations make better business decisions 87% of the time.
Diversity drives better decisions
The study analysed around 600 business decisions made by 200 teams, across a range of companies. Researchers found that when diverse teams (of three or more people) made a business decision, they outperformed individual decision-makers up to 87 per cent of the time. Diverse teams were also shown to make decisions faster than individual workers, and benefited from a 60 per cent improvement on decision-making.
Resources from Tuti Scott
Investing to improve the lives of women and girls is a powerful catalyst for positive social change. Another way to get involved is to support and participate in the larger ecosystem of networks and organizations that engage investors, the business community, and leaders in gender lens philanthropy, investing, and social justice work.
Why Diverse Teams Are Smarter
From the Harvard Business Review: In recent years a body of research has revealed another, more nuanced benefit of workplace diversity: non-homogenous teams are simply smarter. Working with people who are different from you may challenge your brain to overcome its stale ways of thinking and sharpen its performance.
Studies show that countries with more women in government have healthier populations
From Business Insider: Compared to men in government, women politicians are more likely to substantively advance women's rights in areas such as pay equity, violence against women, health care, and family policy. Research has shown that women in government tend to work in more collaborative and bipartisan ways and employ a more democratic leadership style compared to men's more autocratic style. Women are also more effective at building coalitions and reaching consensus.
Research: Women Are Better Leaders During a Crisis
There has been a lot said about how women have done a better job leading during the Covid-19 crisis than men. According to an analysis of 360-degree assessments conducted between March and June of this year, women were rated by those who work with them as more effective. The gap between men and women in the pandemic is even larger than previously measured, possibly indicating that women tend to perform better in a crisis. In fact, women were rated more positively on 13 of the 19 competencies that comprise overall leadership effectiveness in the authors’ assessment.
Companies led by women have happier workers. What’s the secret?
From the Boston Globe: The survey found that at companies where women make up more than half the executive team, employees feel more confident in their employers’ overall goals and strategies; they find communication to be more effective and the mission more clearly defined, in turn leading to a greater belief in the company’s product or service; and they report having more autonomy, specifically expressing satisfaction in work-from-home policies and less micromanagement.
Why Diversity and Inclusion Matter: Quick Take
From Catalyst: Research from Catalyst and around the world has found that diversity and inclusion benefit individuals, organizations, teams, and society. The data and findings are selected from a vast body of research on the benefits of diversity and inclusion in the workplace, with an emphasis on studies published in the last few years.
Women Matter: Ten years of insights into gender diversity
From Mckinsey & Company: A decade into our research, we highlight key findings—and invite 16 global leaders to look at how to increase gender diversity in corporations and imagine the inclusive company of the future.