IDMG ExecSummFINAL CTI

Transcript

1

2 TASK FORCE FOR TALENT INNOVATION CO-CHAIRS MEMBERS Interpublic Group American Express AIG Knoll* AllianceBernstein Bank of America Merrill KPMG LLP Lynch ArcelorMittal Marie Claire Bloomberg LP AT&T McGraw-Hill Companies Barclays plc Booz Allen Hamilton McKesson Corporation Bristol-Myers Squibb BlackRock McKinsey & Company Boehringer Ingelheim Cisco Systems Moody’s Foundation* USA Deloitte Morgan Stanley Deutsche Bank Booz & Company New York Times BP EMD Serono Company EY BT Group* Northrop Grumman Cardinal Health GE Novartis Pharmaceuticals Central Intelligence Goldman Sachs Corp. Agency Intel Corporation Osram Johnson & Johnson Chubb Pfizer Inc.* NBCUniversal Citi* QBE North America Covidien Time Warner Schlumberger Credit Suisse* Unilever plc Siemens AG Depository Trust & Sodexo Clearing Corporation Standard Chartered Bank Eli Lilly and Company Swiss Reinsurance Co. Federal Reserve Bank of Thomson Reuters New York Towers Watson Fidelity Investments Tupperware Brands Freddie Mac UBS* Gap Inc. United Nations DPKO/ Genentech DFS/OHRM General Mills Vanguard Genpact Viacom Google White & Case LLP Hess Corporation Withers LLP Hewlett-Packard WPP HSBC Bank plc International Monetary Fund As of September 2013 *Steering Committee

3 E Ecutiv Ex Summary Executive Summary W hat does it take to win in the global marketplace? For virtually all companies regardless of sector, competitive strength and market growth depend on innovation. Gaining market share and expanding into new markets hinges on winning over new consumers or clients by identifying unmet needs and developing new products, services, and systems to fill them. Greater productivity may boost earnings, but in today’s fiercely competitive global economy, it is serial innovation that drives and sustains growth. But what drives serial innovation? CTI’s ground-breaking research reveals the engine to be a diverse workforce that’s managed by leaders who cherish Inclusive leader difference, embrace disruption, and foster a speak-up culture. behaviors effectively “unlock” the innovative potential of an inherently diverse workforce , enabling companies to increase their share of existing markets and lever open brand new ones. By encouraging a proliferation of perspectives, leaders who foster a speak-up culture also enable companies to realize greater efficiencies and trim costs—another way that Two-dimensional (2d) diversiTy innovation drives bottom-line value. describes leadership that exhibits at least three kinds of both: Inherent diversity (gender, race, age, religious background, socioeconomic background, sexual orientation, disability, nationality) Acquired diversity (cultural fluency, & generational savvy, gender smarts, social media skills, cross-functional knowledge, global mindset, military experience, language skills)

4 employees who reporT Tha T Their ideas... Win endorsement from decision-makers 63% 45% vs. Get developed or prototyped 30% vs. 48% Leaders have long recognized that an Get deployed into the marketplace inherently diverse workforce (inclusive of vs. 20% % 35 women, people of color, gay individuals) confers a competitive edge in terms of selling products (% respondents at companies WITH 2D diversity in leadership vs. % respondents at companies or services to diverse end users—what’s known WITHOUT 2D diversity in leadership) as “matching the market.” Our research shows, however, that an inherently diverse workforce can be a potent source of innovation, as diverse individuals are better attuned to the unmet needs of consumers or clients Indeed, their insight is critical to identifying and like themselves. addressing new market opportunities. We find that when teams have one or more members who represent the gender, ethnicity, culture, generation, or sexual orientation of the team’s target end user, the entire team is far more likely (as much as 158% more likely) to understand that target, increasing their likelihood of innovating effectively for that end user. Market-worthy ideas, however, aren’t innovation until they’re developed and deployed into the marketplace. To get to market, ideas require the buy-in and endorsement of decision- makers at every level. And that’s SM plays acquired diversity where Team members who reporT such a vital role in transforming T Their leader... Tha ideas into innovation. Leaders who —whose have acquired diversity 29% vs. 63% Ensures that everyone speaks up and gets heard background and experience has conferred on them an appreciation 74% vs. 34% for difference, whether that Makes it safe to risk proposing novel ideas difference is rooted in gender, age, culture, socioeconomic background, 40% vs. 82% Empowers team members to make decisions nationality, or sexual orientation— are significantly more likely to behave vs. 64% 25% inclusively than leaders who lack it . Takes advice and implements feedback 30% 73% vs. Gives actionable feedback vs. 27% 64% Shares credit for team success (% respondents whose leader has at least three acquired diversity traits vs. % respondents whose leader has NO acquired diversity traits)

5 Six inclusive behaviors, we find, are highly correlated with a “speak-up” culture, or an organizational environment where everyone feels free to volunteer opinions, suggest unorthodox approaches, or propose solutions that fly in the face of established practice. Leaders who exhibit at least three of these six behaviors unlock innovative capacity by unlocking the full spectrum of perspectives, opinions, and toolkits that diverse Team members who reporT Tha T They feel... individuals bring to problem-solving. While critical at the team level, such leaders are especially Welcome and included in their team transformative at the top, because they’re the vs. 51% 87 % ones who determine organizational culture by socializing their behaviors. Brilliant individuals Free to express their views and opinions and high-performing teams cannot deliver in a vs. 87 % 46% culture where channels for experimentation don’t exist, failure is penalized, and the loudest voice in That their ideas are heard and recognized the room is that of the leader. vs. 37% % 74 when leadership Indeed, our research shows that (% respondents whose leader exhibits at least three inclusive behaviors vs. % respondents whose lacks innate or acquired diversity , or fails to foster leader exhibits NO inclusive behaviors) a speak-up culture, fewer ideas with market potential make it to market . Ideas from women, people of color, LGBTs, and Gen-Ys are less likely to win the endorsement they need to go forward because 56% of leaders don’t value ideas they don’t personally see a need for—a veritable chokehold when an organization’s leaders are predominantly Caucasian, male, and heterosexual, and come from similar educational and socioeconomic backgrounds. In short, the data strongly suggest that homogeneity stifles innovation. Fully 78% of our survey sample work for such a company. 40 Groupthink is a problem vs. % on their team 25 › Leadership at their company does 62 vs. T... employees who reporT Tha not perceive value in ideas they % don’t personally see a need for 37 › 48 Ideas at their firm rarely vs. % make it to market 26 › (% respondents at companies WITHOUT 2D diversity in leadership vs. % respondents at companies WITH 2D diversity in leadership)

6 Companies that harness both innate diversity in their workforce and acquired diversity in leadership are measurably more innovative Employees at than companies that fail to harness these drivers. companies with 2D diversity are more likely than employees at non-diverse companies to take risks, challenge the status quo, and embrace a diverse array of inputs. They’re also employees who reporT 75% more likely (35% vs. 20%) to see their ideas move Tha T Their Team... through the pipeline and make it to the marketplace. 67 Embraces the input of a diverse vs. our findings demonstrate a Most dramatically, % array of its members 40 robust correlation between highly innovative, diverse companies and market growth . Diversity 50 Is not afraid to challenge the pays a handsome dividend: employees at publicly vs. % status quo traded companies with 2D diversity are 70% 29 more likely (46% vs. 27%) than employees at 43 vs. non-diverse publicly traded companies to report Is not afraid to fail % 22 that their firm captured a new market in the past 12 months, and 45% more likely (48% vs. 33%) to 40 Takes risks report that their firm improved market share in that vs. % same time-frame. 21 (% respondents at companies WITH 2D diversity in leadership vs. % respondents whose leader In the final analysis, our research shows, companies exhibits NO inclusive behaviors) with multicultural workforces have the means at hand to grow and sustain innovation. The secret isn’t a surfeit of creativity, although creativity helps. It isn’t a lone genius, although genius never hurts. Rather, innovative capacity resides in an inherently diverse workforce where leaders prize difference, value every voice, and manage rather than suppress disruption. If innovation is the Holy Grail, then diversity should be a company’s unrelenting quest. employees who reporT Tha T in The lasT 12 monThs Their firm... 48 vs. Improved market share % 33 › 46 vs. Captured a new market % 27 › (% respondents at publicly traded companies WITH 2D diversity in leadership vs. % respondents at publicly traded companies WITHOUT 2D diversity in leadership)

7 For more information or to purchase the complete report, INNOVATION, DIVERSITY AND MARKET GROWTH, visit www.talentinnovation.org Creative direction /Design: Winer Idea Group Cover Design: Asha Tyska McLaughlin © 2013 Center for Talent Innovation. All rights reserved. Unauthorized reproduction or transmission of any part of this publication in any form or by any means, mechanical or electronic, is prohibited. The analyses and opinions represented in this report are solely those of the authors.

8 The Center for Talent Innovation is a nonprofit think tank based in New York City. CTI’s flagship project is the Task Force for Talent Innovation—a private-sector task force focused on helping organizations leverage their talent across the divides of gender, generation, geography and culture. The 75 global corporations and organizations that constitute the Task Force, representing six million employees and operating in 192 countries around the world, are united by an understanding that the full realization of the talent pool is at the heart of competitive advantage and economic success. 1841 Broadway, Suite 300, New York, NY 10023 | TalentInnovation.org

Related documents

Assessment of Minority Voting Rights Access

Assessment of Minority Voting Rights Access

AN ASSESSMENT OF MINORITY VOTING RIGHTS ACCESS IN THE UNITED STATES An Assessment of MINORITY VOTING RIGHTS ACCESS in the United States ★ ★ ★ ★ ★ ★ ★ ★ ★ ★ 018 STATUTORY REPORT 2 U.S. COMMISSION ON CI...

More info »
ayout 1

ayout 1

0465039146-FM:FM 12/5/06 12:25 AM Page i C O D E

More info »
v-dem democracy_report_2018

v-dem democracy_report_2018

INSTITUTE Varieties of Democracy Democracy for All? V-Dem Annu Al Democr Acy r eport 2018

More info »
usmlecontentoutline

usmlecontentoutline

® USMLE Content Outline A Joint Program of the Federation of State Medical Boards ® of the United States, Inc., and the National Board of Medical Examiners

More info »
Federal Public Key Infrastructure (PKI) X.509 Certificate and CRL Extensions Profile

Federal Public Key Infrastructure (PKI) X.509 Certificate and CRL Extensions Profile

Fede r a l KI) P ub lic K e y I n fr as tr uc t u re ( P X. 50 9 C e rti f i ca te an d s CRL E x t e n s i on P r f ile o July 1 7 , 2017

More info »
U7112 UCARE CONNECT + MEDICARE PROVIDERDIR MAY 2019 DATA.sv

U7112 UCARE CONNECT + MEDICARE PROVIDERDIR MAY 2019 DATA.sv

UCare Connect + Medicare Provider and Pharmacy Directory Introduction This Provider and Pharmacy Directory includes information about the provider and pharmacy types in UCare Connect + Medicare and li...

More info »
u7112 connectplus directories 2019

u7112 connectplus directories 2019

UCare Connect + Medicare Provider and Pharmacy Directory Introduction This Provider and Pharmacy Directory includes information about the provider and pharmacy types in UCare Connect + Medicare and li...

More info »
doj final opinion

doj final opinion

UNITED STAT ES DIS TRICT COURT IC F OR THE D ISTR T OF CO LU M BIA UNITED STAT F AMERICA, : ES O : : la in t if f, P 99 No. on cti l A vi Ci : 96 (GK) -24 : and : TOBACCO-F UND, : REE KIDS ACTION F : ...

More info »
CBEC Electoral Board Decisions

CBEC Electoral Board Decisions

BOARD OF ELECTION COMMISSIONERS THE CITY OF CHICAGO FOR INDEX OF ELECTORAL BOARD DECISIONS April 201 4

More info »
HLCOneSizeFinal

HLCOneSizeFinal

A G U E G , A N N A D L , C S L U A L T T One Si ze Does Not Fit Al l: I U P S R E O H Mee ti ng the Hea lth Ca re Nee ds of Diver se Popul ati on s n A o i S t n a a N p s e h h o t t f o Karen L. Co...

More info »
Layout 1

Layout 1

PUB LI C SE RVIC E REFORM ... BUT NOT AS WE KNOW IT! A sto ry of how democra cy can make pu blic services genu inely eff icie nt Hil ary Wainwr ight wi th Math ew Litt le

More info »
The News Media and Peace Processes: The Middle East and Northern Ireland

The News Media and Peace Processes: The Middle East and Northern Ireland

News Media and Th e P eace Pro c e s s e s The Middle East and Northern Ireland Gadi Wo l f s fe l d United States I nstitute of Pe a c e

More info »
Wilshire Community Plan

Wilshire Community Plan

W I RE IL SH l u n i t y P m a n C m o BLE O T CONT E NTS A F C TIV I TY A L OG M U NI T Y P L A N M C O I. I ntroduct i on II. F un c t i o n of the C o mm unity P l a n II I . L a nd Us e P oli c ie...

More info »
CalCOFI Atlas 33

CalCOFI Atlas 33

THE EARLY STAGES IN OF THE FISHES CALIFORNIA CURRENT REGION CALIFORNIA FISHERIES COOPERATIVE OCEANIC INVESTIGATIONS ATLAS NO. 33 BY THE SPONSORED STATES OF COMMERCE DEPARTMENT UNITED OCEANIC AND ATMOS...

More info »
TCRP Report 108 – Car Sharing: Where and How It Succeeds

TCRP Report 108 – Car Sharing: Where and How It Succeeds

DOWNTOWN BOISE P arking Strategic Plan APPENDIX D1 TCRP Report 108 Car-Sharing: Where and How it Succeeds

More info »
Form 5B: Service Sites Instructions

Form 5B: Service Sites Instructions

Instru r Form 5B: Service S ites ons fo cti nd rou : Backg 1 Spe cifically, the scope of proje ct de fines the in PIN ect, as des Sites ed ve elemen 2008-01. f fi ts th at comp rise the scope of proj ...

More info »
2064261 2019 03 29 order granting plaintiffs  msj

2064261 2019 03 29 order granting plaintiffs msj

Case 3:17-cv-01017-BEN-JLB Document 87 Filed 03/29/19 PageID.8055 Page 1 of 86 1 2 3 4 5 6 UNITED STATES DISTRICT COURT 7 SOUTHERN DISTRICT OF CALIFORNIA 8 9 , 3:17cv1017 Case No.: VIRGINIA DUNCAN, et...

More info »
2019 County Directory  working

2019 County Directory working

Livingston County Directory 2019 Geneseo, New York www.livingstoncounty.us

More info »
six books

six books

SIX BOOKS OF THE COMMONWEALTH by ODIN JEAN B M. J. TOOLEY Abridged and translated by L BL ACKWEL L OXF ORD BASI PRINT ED IN GREAT BR ITAI N IN THE CI TY OF OX FORD AT T HE AL DEN PRESS BOUND BY ALL BI...

More info »