Inclusion and diversity in digital is a business imperative for enhanced team culture and ultimately, commercial performance. Metaphorically speaking, Digital Talent Co. encourage companies and clients to build a diverse world-class sports team, with individuals of different skills, strengths and backgrounds.
The business case for diversity is a confused one full of myths and assumptions. Digital Talent Co. is committed to demonstrating the commercial and social value of diversity and inclusion. Simply consider the research – Diversity, Social Goods Provision, and Performance in the Firm, recently published in the Journal of Economics and Management Strategy. Sara Ellison, a senior lecturer at MIT’s Department of Economics, and Wallace P. Mullin, an economist at George Washington University authored the paper. They clearly articulated why we are innately driven to work with individuals like ourselves, avoiding the unexpected benefits of diversity.
Sara Ellison elaborates that having a more diverse set of employees means you have a more diverse set of skills, which could result in an office that functions better. “Having similar employees leads to higher levels of social capital which fostered co-operation, trust and enjoyment in the workplace.”
The study however showed that social capital does not mean the office performs better. According to Ellison, “higher levels of social capital are not important enough to cause those offices to perform better. The employees might be happier, they might be more comfortable, and these might be co-operative places, but they seem to perform less well.
The economists found that shifting from an all-male or all-female office to one split evenly along gender lines could increase revenue by roughly 41 percent and used the analogy of a baseball team to explain. A baseball team entirely composed of catchers could have high esprit de corps, Ellison says, noting that a band of catchers could share experiences, equipment, or tips for handling knuckleballs. But it would not perform very well on the field.
Greater social diversity implies a greater spread of experience, which could add to the collective knowledge of a group of office workers and make the unit perform more effectively. Diverse teams can better relate to a range of demographics which leads to more competitive product or service design or marketing campaigns.
Ellison and Mullin found that just the perception of firm diversity was enough to produce greater happiness among employees, which co-related to lower levels of turnover.
Digital Talent Co. strategically partners with Women in Digital, indigenous business groups and digital communities around the world to offer a wider and more diverse talent pool to your company for a competitive edge in the marketplace.
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