In today's popular business posts and stories, you cannot scroll one or more times before you read the word digital. How we work and make decisions is knowingly or unknowingly supported by technology or data. With Alexa in every room, I am not sure my children know we actually have a light switch.
This digital revolution has transformed thinking and products in the board rooms of corporations, universities and non-profits. Hitachi Ltd. and Hitachi Consulting are at the forefront of that thinking -- producing products and supporting our customers through their digital journey. But, focusing on digital is not enough for sustainable profit and growth. Organizations must add other D-word to the everyday vernacular: Diversity.
The latest McKinsey report, “Delivering through diversity,” points out how diversity has a direct and measurable impact on a company's performance. A diverse executive team and line management is directly correlated to strong performance.
This data is not new, but unlike the digital revolution, companies have been slow to act. Diversification and inclusion programs can be hard to define and hard to implement, but we must start and we must persevere. We have to add diversity to our daily vocabulary and we take steps to provide our employees with a diverse and inclusive culture.
At Hitachi Consulting we started with the basics -- employee resource groups and an established Inclusion and Diversity Council. We continue looking at programs and best practices that can influence our diversity make-up and create a culture of inclusion.
As we kick-off our weekly celebration of International Women's Day, please engage in the discussion on social media using the hashtag #pressforprogress. Let's make diversity as significant a goal as digital.
Diversity and financial performance in 2017 In the original research, using 2014 diversity data, we found that companies in the top quartile for gender diversity on their executive teams were 15 percent more likely to experience above-average profitability than companies in the fourth quartile. In our expanded 2017 data set this number rose to 21 percent and continued to be statistically significant.