Magazine article New Zealand Management

Inbox: The Diverse Benefits of Diversity

Magazine article New Zealand Management

Inbox: The Diverse Benefits of Diversity

Article excerpt

NZ business leaders are, on the whole, pretty positive about their own diversity policies, according to joint Hay Group/NZ Management magazine research.

For the past three years, Hay Group and NZ Management magazine have teamed up to identify and celebrate NZ's Most Reputable Organisations. (See "NZ's most reputable organisations: Why good leaders matter" in NZ Management magazine September 2012 issue.)

This year, as part of our research we also asked senior NZ executives about their own diversity policies and what benefits, if any, they derive from them.

While several respondents told us in general terms that a more diverse workforce was a better reflection of both wider society and their own organisation's client base, many others laid out the specific business benefits.

Diversity provides an "ability to capture emerging and growing income and customer streams", according to one respondent. Another spoke of "gaining access to skills that are often not recognised by organisations with a narrow focus".

Better decision-making and planning, and broader perspectives also featured in the replies.

Several business leaders highlighted the benefits of fresh thinking. As one put it, "diversity will allow us to avoid group think". …

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