The Power of Diversity

The benefits of a diverse work group have been proven in a number of studies. Sangeeta Bharadwaj-Badal, a lead Gallup scientist, noted that the financial results of gender-diverse business units outperformed single gender units by 57 percent. Harvard researchers, in a survey of 250 businesses, found that more diverse businesses produced 18 to 69 percent more net income, plus they had better sales performance. In the same study, 91 percent of diverse companies reported greater customer satisfaction. According to the Covenant Investment Management, the average annualized return for S&P 500 companies with poor diversity was 7.9 percent, much lower than the 18.3 percent for more diverse entities.

The mobility function has an important role to play in increasing diversity and thus business performance by taking into account the diversity of relocating employees, as well as that of the destination work group. Paragon Relocation assists companies in achieving their talent management goals through policy design, implementation and the management of relocation programs. To learn more, click here.