"Companies in the top quartile for racial and ethnic diversity are 35% more likely to have financial returns above their respective national industry medians.
Companies in the top quartile for gender diversity are 15% more likely to have financial returns above their respective national industry medians.
In the United States, there is a linear relationship between racial and ethnic diversity and better financial performance: for every 10% increase in racial and ethnic diversity on the senior-executive team, earnings before interest and taxes (EBIT) rise 0.8%.
Racial and ethnic diversity has a stronger impact on financial performance in the United States than gender diversity, perhaps because earlier efforts to increase women’s representation in the top levels of business have already yielded positive results.
The unequal performance of companies in the same industry and the same country implies that diversity is a competitive differentiator shifting market share toward more diverse companies."
From McKinsey & Company (#2): (link) - more pictures and graphs here
"Companies in the top 25th percentile for gender diversity on their executive teams were 21% more likely to experience above-average profits.
We found a positive correlation between gender diversity on executive teams and both our measures of financial performance: top-quartile companies on executive-level gender diversity worldwide had a 21% likelihood of outperforming their fourth-quartile industry peers on EBIT margin, and they also had a 27% likelihood of outperforming fourth-quartile peers on longer-term value creation, as measured using an economic-profit (EP) margin.
Companies in the fourth quartile on both gender and ethnic diversity are more likely to underperform their industry peers on profitability: 29% in our 2017 data set."
"Companies that reported above-average diversity on their management teams also reported innovation revenue that was 19% higher than that of companies with below-average leadership diversity — 45% of total revenue versus just 26%.
These organizations also reported better overall financial performance: EBIT margins that were 9% higher than those of companies with below-average diversity on their management teams."
A passive approach [to increasing diversity] is guaranteed to fail. (In fact, even active efforts don’t always succeed. BCG’s recent research on gender diversity shows that 91% of companies have a program in place, yet only 27% of women say they have actually benefited from it."
So, now your left brain can finally support what your right brain (or heart, gasp!) has been telling you to do for years.