Diversity Was Supposed to Make Us Rich. Not So Much.

Submitted by Matt on Fri, 2024-06-28 22:25

Article here. Excerpt:

'When management consulting firm McKinsey declared in 2015 that it had found a link between profits and executive racial and gender diversity, it was a breakthrough. The research was used by investors, lobbyists and regulators to push for more women and minority groups on boards, and to justify investing in companies that appointed them.

Unfortunately, the research doesn’t show what everyone thought it showed.

There are obvious benefits of diverse corporate leadership for society, both in providing role models and in showing a commitment to promoting the best people, irrespective of skin color or gender. But doing it because it is the right thing is not the same as doing it because it makes more money.'

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Comments

... that pursuing "diversity" is to pursue acquiring talent w/out regard to race and gender when in fact it's just the opposite. Watch out for gas-lighting even in an article debunking a so-called "diversity" myth.

One ought not be against a "diverse" group or team as such. What one ought to be is meritocratic however. Having a certain gender (or skin color) does not warrant the presence of any merit of any kind.

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Submitted by Matt on Fri, 2024-06-28 23:04