Does Diversity Fuel Innovation?

by Kristina Rudic | November 07, 2017

  • My Vault
Rocio Lorenzo during her TedTalk

Rocio Lorenzo and her team took this question on headfirst, surveying over 170 companies to see if diversity leads to more innovation and if it helps companies gain a competitive advantage. What they found was a resounding “yes.” During her TED Talk below, Lorenzo explains that her team expanded the study to 1,600 companies throughout the world.

The study, which compared innovation revenue to diversity rates, proved that more diverse companies were more innovative and that more innovative companies tended to hire diverse candidates far more often than other companies. Although the study didn’t find which causes which, the results are clear.

The study focused on gender diversity, something companies reached out to Lorenzo for statistics on. She explains, “For gender diversity to have an impact on innovation, you need to have more than a 20 percent women in leadership.” But while this generation of women is the most educated in history, they are still not being put in leadership positions.

It all comes down to two decisions taken every day in organizations: who to hire and whom to develop and promote. In order for women to excel at work and grow in the ranks, Lorenzo urges all of us to become diversity advocates. 

Check out the full TED Talk below: 

Filed Under: Technology | Workplace Issues

Tags: diversity | innovation | video | women in leadership | women in the workforce

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