Diversity–particularly among genders–increases a business’s bottom line, according to a new study from DDI, The Conference Board, and EY. The study, dubbed the Global Leadership Forecast, looked at demographic data from over 2,400 organizations in 54 countries.
The upshot was that while women currently represent less than a third (29%) of all leadership roles–most of which are junior management positions–companies that have at least 30% gender diversity overall, and more than 20% at the senior level, outperform their less diverse counterparts in key leadership and business outcomes.
For example, companies with greater gender diversity reported they are twice as likely to have their leaders work together to create new solutions and opportunities, 1.5 times more likely to work across an organization’s silos and exhibit a growth culture, and 1.7 times more likely to have strong leadership.
Overall, the study revealed, gender diversity contributed to these companies being 1.4 times more likely to have sustained profitable growth.