For example, cosmetic giant L’Oréal attributes much if its impressive success in emerging markets to its multicultural product development teams.
Multiple voices, perspectives, and personalities bouncing off one another can give rise to out-of-the-box thinking.
Diversity Inc annually recognizes the top 50 most diverse companies and measures their success against the broader market.
Recent research from Mc Kinsey also underscores the fact that diversity is good for a business’s bottom line.
From the Virgin Group to Disney and Pricewaterhouse Coopers, organizations across industries are embracing the benefits of a diverse workforce.
But with benefits, necessarily come challenges of working across borders, cultures, and languages.
By offering a platform for the open exchange of ideas, businesses can reap the biggest benefits of diversity in the workplace.
Benefits: Our culture influences the way in which we see the world.Even brand taglines can get badly lost in translation.A frequently cited example is from KFC in China, whose chicken was marketed as so tasty, you’ll “eat your fingers off!“One of the main reasons I chose Hult was the incredible diversity of students and the international element we possess here.Studying and sharing a campus with students from different nationalities has been an awe-inspiring experience.
In fact, ethnically diverse companies were shown to be 35% more likely to have financial returns above the national industry median.