Diversity and inclusion are important themes that are increasingly present in the corporate environment. In startups, specifically, these themes are crucial, as they can be the key to the company’s success.
A study by McKinsey & Company consultancy revealed that the most diverse organizations are 33% more likely to have above-average profit than the least diverse.
Another study by the Boston Consulting Group found that startups led by women manage to attract 2.5 times more investments than startups led by men.
These data show that diversity and inclusion are not only ethical issues, but also strategic ones that make the difference between success and failure. In this article, I’m going to talk about how diversity and inclusion can drive innovation in startups.
The impact of diversity on innovation
Diversity contributes to innovation in many areas. A diverse team, for example, brings different perspectives and experiences, which can lead to innovative ideas.
In addition, so-called “groupthink” is avoided, in which everyone shares the same ideas and perspectives, limiting creativity and innovation.
An example of how diversity drives innovation is Airbnb. In 2015, she launched a campaign to hire more women and people from ethnic minorities on the design team.
The result was a series of new functionalities and resources that improved the user experience, such as the possibility of booking rooms adapted for people with disabilities.
The importance of inclusion in innovation
Inclusion is just as important as diversity, as there is no point in having a diverse team if members do not feel included and valued.
In this sense, it can be said that an inclusive team is one in which everyone feels free to express their ideas and opinions, without fear of reprisals or discrimination.
A Harvard University study showed that inclusive teams are more creative and innovative than teams where people feel less comfortable expressing their ideas. In addition, inclusion helps retain talent.
Conclusion
What I have to say is that in the startup world, where creativity and innovation are essential to success, diversity and inclusion make the difference.
Therefore, it is important to invest in policies and practices that promote diversity and inclusion at all levels of the company.
This includes creating recruitment programs targeting ethnic minorities, women and people with disabilities, implementing training on diversity and inclusion, promoting an inclusive work environment, among other initiatives.
The result will be a company that is stronger, more profitable and better prepared to face the challenges of the market. Does it make sense?
