MHWest & Co., Inc.
MANAGEMENT & EDUCATION CONSULTANTS
Marilyn H. West
Chair & CEO

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Phone: 
888.937.8904

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Diversity and the Bottom Line

For years many people have made efforts to include those who are considered different. Yet, there are many who also work hard at excluding those who are different. Whether you choose to include or exclude individuals, there are consequences for both. Let's focus on the business side and look at the value proposition. M. H. West & Co. Inc. (WEST) research and experience indicate that companies that are diverse and inclusive driven will perform better financially and they hold on to customers and employees with a generally higher degree of customer and employee satisfaction.

 

But let's be realistic, there are those whose preference is to work and associate with people who are similar to them. Marilyn West, WEST's Chair & CEO, understands this because she works within groups that reflect who she is: a female, Afro-American, business owner, parent, college trustee, senior and more. However, Marilyn believes that she has benefitted significantly by including those that are different in her business, professional, personal and learning networks. For example, if she only joined women business organizations like the National Association of Women Business Owners, she may miss out on opportunities of interacting with businesses that have a wider range of ownership, such as the Chambers of Commerce. As to age, Marilyn comments that while she enjoys interacting with the Pre-Baby Boomers, Baby-Boomers, Generation X, Generation Y, she is learning much from younger Millennials. Balance is key.

 

Jennifer Dulski, president and chief operating officer of Change.org, told The New York Times recently "diversity is perspective and you want to understand the differing perspectives of your user base. Diverse groups engage in "creative conflict", which leads to better decision-making, introduces new ideas into discussions and increases creativity and innovation." Additionally, because of social media and the mobility of populations to travel throughout the world, the likelihood of encountering an individual or business different than yours is 100%. So how can you begin to build a diversity platform in your business that is sustainable? Below are a few questions that you may wish to consider in creating or strengthening your diversity program.

 

1.  Is governance and the executive leadership willing to make a commitment?

 

2.  Does the CEO understand that diversity is driven by that person and others in the C-Suite?

 

3.  Are your prepared to accept that diversity is not a short-term program or two hour training?

 

4.  Is there an understanding that inclusion and representation are different in defining diversity?

 

5.  What criteria will you use to define diversity?

 

6.  Have you obtained the opinions of your internal customers about diversity?

 

7.  Do you have the resources to create and sustain diversity? Diversity requires upfront resources. Diversity is reflected in company literature, website, and any photos or artwork on the walls. Language in printed material is inclusive and speaks to everyone regardless of gender, race, sexual orientation, religion, physical ability, or any other diversity dimension.

 

8.  Is the environment comfortable for all those that are included in the business framework to succeed-the governance, executives, employees, customers?

 

9.  Are there populations that you are now serving that you would like to serve to a greater extent?

 

10.  What does diversity look like today? What did it look like five years ago? What will it look like 5 years from now?

 

11.  How much can your bottom line be exceeded using a more diverse customer/supplier base in existing and new markets?

 

If you are searching for diversity and inclusion guidance that align with specific challenges and opportunities for your business, connect with Marilyn West today --- [email protected].


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