Dive Brief:
- Diversity, inclusion and fairness are considered the "most differentiating, predictive practices that directly correlate with high performing global companies," according to Josh Bersin, founder of Bersin by Deloitte and a principal with Deloitte Consulting.
- Writing at CLO online, Bersin says processes such as leadership development, onboarding, sales training and succession management need to happen and that they "drive inclusion and a feeling of openness." Learning plays a key role in that outcome.
- The new data was a result his firm's comprehensive research on talent management, “High-Impact Talent Management 2015.”
Dive Insight:
Bersin writes that the research revealed some "astounding" things, but after studying 450 global companies, employers with highly inclusive cultures generated significantly higher cash flow, profitability and employee retention over a three-year period.
Not only did those winning employers offer a great diversity and inclusion program, they built what Bersin calls "a truly inclusive" talent system as well. Representing only 10% of the sample, those employers built inclusive thinking and diversity conversations throughout their talent systems, especially in learning.
Bersin writes that most of the differentiating practices, in fact, reside in L&D's wheelhouse, citing TD Bank, a leading Canadian financial company. TD Bank began its journey in 2004 and since then the company has deployed a variety of employee experience programs, including a diversity leadership council. It imbues diversity into every training program offered.
