“Embrace inclusion in everything you do.”
Korn Ferry collaborates annually with Fortune to identify the World’s Most Admired Companies [WMACs] and analyze what they have in common. One thing these companies understand is that diversity and inclusion is not an HR program, but a winning business strategy. It means understanding, accepting, and valuing differences between people, and creating a collaborative, supportive, and respectful work environment in which everyone can participate.
The case for diversity and inclusion [D&I] is overwhelming. Organizations that make D&I a priority find it easier to attract top talent, break into new markets, innovate, and build a good reputation. The leading WMACs have made great strides in becoming more diverse and inclusive and are consequently reaping the benefits.
How do top WMACs do diversity and inclusion so well?
Taking diversity seriously
WMACs put D&I at the heart of their company culture and see it as a significant competitive advantage. With more experiences, backgrounds and perspectives comes more opportunity for innovation. It’s a win-win.
The buck stops at the top
Those at the top (and those aspiring to be) are expected to drive measurable results in their business units and departments, using metrics such as turnover and employee productivity. Leaders need to get on board, or they won’t progress.
Closing the wage gap
People paid fairly are happier, more motivated and engaged, and more loyal to their employers. WMACs actively monitor pay equity globally, and analyze the root cause of any pay disparities.
Building a talent pipeline
WMACs specifically target women and other underrepresented groups for development. Mentoring and other formal development programs ensure that internal talent is properly nurtured, driving ever-improving diversity in the long term.
Making diversity everyone’s responsibility
WMACs expect all employees to understand the business case for D&I and embrace inclusion in everything they do. It’s embedded throughout the organization, because it’s seen as fundamental to success.
Korn Ferry works with organizations to develop workplaces that attract, retain and release the full potential of diverse talent. We can help you create an environment in which a diverse workforce is the key to your success.
Since 1997, Korn Ferry has partnered with Fortune magazine to identify and rank the World's Most Admired Companies [WMAC]. We survey top executives and directors from eligible companies, along with financial analysts, to identify the companies that enjoy the strongest reputations within their industries and across all sectors. Find out more >>