By Daniel Tencer
New York — Workplace diversity programs — derided by some as politically correct pandering or little more than public-relations stunts — have become key to driving innovation among the world’s most prominent businesses, says a study from Forbes Insights.
“For global companies, diversity is no longer simply a matter of creating a heterogeneous workforce, but using that workforce to innovate and give it a competitive advantage in the marketplace,” the report states. “Competition for talent is fierce in today’s global economy, so companies need to have plans in place to recruit, develop, and retain a diverse workforce.”
The survey is a sign that globalization may have had a positive, if unplanned, benefit: An increasingly multicultural workforce within the world’s major multinationals.
Of the 321 companies with more than $500 million in revenue surveyed, 85 per cent agreed or strongly agreed that diversity is key to driving innovation in the workplace.
The survey lists AT&T, L’Oreal USA and Mattel as sponsors.