Improved diversity can result in better products, better marketing and a better customer experience, as companies then have a staff base which properly understands the needs of all end users. Modern technology means that if you don’t adapt your offer to meet customers’ needs, a competitor will quickly develop a product or service which does.
- Women are, on average, more empathetic than men, with recent research confirming that women have a higher average Emotional Quotient (EQ) – 50/80 compared with 40/80 for men. (Translational Psychiatry, 2018) https://www.livescience.com/61987-empathy-women-men.html
- With 80% of purchasing decisions in the UK made by women, firms with diverse leadership teams are likely to have a better understanding of market behaviour. (McKinsey & Co research quoted in Diversity and Inclusion Toolkit, RAEng)
- In the highways and transportation sector, 73% of firms see client pressure as a reason for improving diversity and inclusion and 59% want to better represent the demographics of customers. (Routes to Diversity & Inclusion, CIHT, October 2015)
- Organisations that successfully create an inclusive culture have 39% higher customer satisfaction scores than those that do not. (Gallup workplace studies quoted in Diversity and Inclusion Toolkit, RAEng)
- When employees feel their organisation is committed to diversity and inclusion, responsiveness to changing customer needs is increased by more than 30%. (Deloitte research quoted in Creating cultures where all engineers thrive. A unique study of inclusion across UK engineering, RAEng, 2017)