Diversity and inclusion are not luxuries reserved for high-performing companies in flush times. They constitute a powerful lever for improving performance—and they are more critical than ever as companies aim to accelerate out of the downturn.
BCG brings deep expertise in driving measurable change in diversity, equity, and inclusion (DEI). Our work enables clients to build teams that fully reflect the diversity in the world and the communities they serve—and empowers them to advance their businesses and our society.
We recognize the significant value that diversity, equity, and inclusion can unlock—for individuals, organizations, and societies—and the need to do better. To this end, we partner with companies to implement proven diversity strategies and diversity and inclusion best practices.
The facts are clear: companies with diverse workforces and inclusive workplaces—defined as those where women and people of color reported positive experiences at work—were far less affected by the global financial crisis. From 2007 to 2009, the S&P 500 index declined by more than 35% during the crisis while the stocks of inclusive companies actually increased by 14%.
Organizations with greater diversity beat their less-diverse counterparts on a range of measures, diversity and inclusion research shows.
And yet, many corporate DEI initiatives are not delivering—for employees or employers. While 98% of employees who responded to our 2018 Global Diversity Survey said that their company had a gender diversity program in place, only about 25% felt that they have personally benefited from a diversity intervention.
We are committed to driving measurable change for various racial, ethnic, and cultural groups, including Black and Indigenous people, people of color, women, the LGBTQ community, military service members and veterans, and people with disabilities. We help companies reimagine their business strategy in a way that eliminates systemic bias, sparks broader social change, and creates competitive advantage.
Our holistic approach to achieving sustainable impact in diversity, equity, and inclusion is built on three pillars of action.
Our diversity, equity, and inclusion consulting team partners with the private and public sector to create a diversity strategy and develop solutions for advancing DEI in the workplace. These are some of our experts on the topic.
Building a New Culture of Diversity, Equity, and Inclusion.
BCG partnered with a leading global industrial goods manufacturer to develop new programs and processes to help the company achieve its ambitious DEI goals. The work resulted in a clear five-year plan on strategic DEI priorities, meaningful advocacy from senior leadership, and active top-down involvement in shaping and executing the new DEI strategy.
Creating a More Diverse and Inclusive Workforce
BCG helped a Middle Eastern oil and gas company analyze recruiting data to uncover DEI gaps in the talent pipeline. Through the analysis, the company was able to shape new DEI policies and programs for building a more diverse workforce.
Using Technology to Improve Diversity and Inclusion.
BCG helped a North American oil and gas company assess employee performance evaluation data to develop dashboards that track DEI progress throughout the organization. These dashboards enabled the company to identify opportunities and address pain points to improve DEI initiatives moving forward.
Leveraging Data to Drive Diversity and Inclusion Innovation.
BCG partnered with a Latin American telco company to analyze and leverage quantitative and qualitative data for innovation hackathons. Through these hackathons, the organization was able to design a diversity and inclusion intervention that truly elevated its DEI strategy.
Working caregivers—particularly women—left the workforce in record numbers during the pandemic. Now they're returning to work, and companies must deliver the support employees need to make the workplace inclusive and sustainable—or risk losing top talent again.
Companies must take a more comprehensive approach to diversity and apply a more nuanced lens for analyzing diversity data. Deaveraging is essential to formulate the right DEI strategy.