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The Big Questions #4 - Raven Strategic

The Big Questions #4

If CEO’s, Directors and Boards all agree that cultural diversity is so important…Why do so few business leaders embrace cultural diversity successfully?

By Daryl Raven

In the global business world – our goals are almost universally the same – so much so that they transcend every major aspect of humanity. Irrespective of geography, ethnicity, age or gender – business leaders all seek out strategies which will deliver quality, better products and services, entrance into new markets, innovation, growth, profitability and most importantly – to attract and retain top talent.
So why – even though every single business leader around the world is seeking the same outcomes – do so few businesses actually embrace cultural diversity in business and capitalise on the world of different ideas, knowledge, history and perspectives that are out there?

Do you embrace cultural diversity in your leadership team? In your advisory panels? In your research? The organic benefits that come from establishing a diverse, multi-cultural workforce will help to super-charge the achievement of those universal business goals – So what is holding you back?

“Businesses are more likely to achieve their top strategic business priorities when they’re adept at recognizing and adapting to other cultures, work styles and varied customer behaviours”

Here are a few key points to help you as a business leader further embrace the completely necessary theme of cultural diversity in your workplace.

Businesses are more likely to achieve their top strategic business priorities when they’re adept at recognizing and adapting to other cultures, work styles and varied customer behaviours. For example – how many times do you find yourself ruminating about how to get through to a key customer, or when you see a constant inability to convert a specific lead into a deal. Think about this:

– Cultural diversity stimulates greater productivity through the coming together of various experiences, perspectives, and work styles – creating a more sensitive approach to generic tasks. Maybe diversity will open the door you can‘t seem to open at the moment!
– A multi-cultural workforce organically creates a team with diverse talents, different ideas, and varied skill sets which will successfully spark creativity and promote innovation. Maybe a new more diverse work force will uncover an even more valuable ‘door’ you hadn’t even thought to open until now…?
– Businesses with effective diversity and inclusion strategies increase their chances of finding the best people for the job solely by being open to recruiting from a wider, and more rich diverse pool of candidates. Hiring the best people helps to solidify trust and engagement – and staff are therefore less likely to leave. This mitigates the risks of turnover and helps reduce the incredibly high costs of bad recruitment.

Installing a culturally diverse workplace into a company structure isn’t going to be achieved by pressing a magic button – it takes time, hard work and determined leadership. In fact, Harvard Business Review has even decreed that actively creating diverse teams in itself produces better results for businesses – because the leaders who take the time to do so have already chosen a path that is harder to do than the alternatives – this is a great trait for a business leader to aspire to.
There are pitfalls and common fail points that as a business leader you MUST avoid when beginning to embrace diversity:
– You must have a documented diversification strategy. You can not ‘wing it’ and be successful.
– Don’t become ‘diverse’ on paper or start on this path with a lack of sincerity. A lack of integrity in your process will be obvious and can actually introduce new biases, instead of eliminating them.
– Training, education and understanding are essential to integrate old and new in any change management process – Diversity change is no different.
– Senior management must walk the walk – authenticity and truth are the key.

If you’re interested in starting on the path towards diversification in your business but are struggling to formulate a plan, or meaningfully take a first step, we would love to hear from you and would welcome a discussion on how Raven Strategic might help you business in this essential business evolution.

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