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Greater productivity may boost earnings, but in today’s fiercely competitive global economy, it is serial innovation that drives and sustains growth. But what drives serial innovation? CTI’s ground-breaking research reveals the engine to be a diverse workforce. Read the report here which highlights some key points and observations.
Leaders have long recognized that an inherently diverse workforce (inclusive of women, people of color, gay individuals) confers a competitive edge in terms of selling products or services to diverse end users—what’s known as “matching the market.”
Our research shows, however, that an inherently diverse workforce can be a potent source of innovation, as diverse individuals are better attuned to the unmet needs of consumers or clients like themselves.
Indeed, their insight is critical to identifying and addressing new market opportunities. We find that when teams have one or more members who represent the gender, ethnicity, culture, generation, or sexual orientation of the team’s target end user, the entire team is far more likely (as much as 158% more likely) to understand that target, increasing their likelihood of innovating effectively for that end user.
About the CTI
The Center for Talent Innovation is a nonprofit think tank based in New York City. CTI’s flagship project is the Task Force for Talent Innovation—a private-sector task force focused on helping organizations leverage their talent across the divides of gender, generation, geography and culture.