Finding the opportunities that lie beneath the uncertainty. In whats called the internet of things, sensors and actuators embedded in physical objectsfrom roadways to pacemakersare linked through wired and wireless networks, often using the same internet protocol ip that connects the internet. Mckinsey s report, diversity matters, was published in 2015, but in light of the growing discussion on diversity in the it industry, a summary of the results will prove helpful to many. Two billion people are now connected to the internet, and this number is growing by 200 million.
Everything you need to know about the famous mckinsey report. Delivering through diversity executive summary 2 ocal context matters. In fact, the diversity of the groups members matters as much as their ability and brainpower, if. Why female representation in senior management matters 4 the economic case 4 talent 4 womens contribution to corporate performance 5 no immediate change to the status quo 5 what holds women back 6 the formula for change 9 the gender diversity ecosystem 10 senior management commitment 12 methodology 18 authors 19 acknowledgements 19 contents. The paper notes that progress on gender diversity has been made in recent years and momentum has increased, but it also confirms that women are still. About the authors vivian hunt is a director in mckinseys london office, where dennis layton is a principal. Mckinsey report on fdny operations 91101 firehouse forums. According to the authors of the mckinsey report, this prompted a few interesting. The companies in the top quartile for gender diversity were 15 percent more lki ely to have fnai ncia rl eturns that were above theri natonai ilndustry median, and the companei s in the.
What directors need to know in 2018 about board diversity. Mckinsey has been examining diversity in the workplace for several. Both matrices are used to analyze companys product or business unit portfolio and facilitate the investment decisions. In this research, we looked at metrics such as financial results and the. Mckinsey has been examining diversity in the workplace for several years. For employees to follow their leaders, they want someone that they can. This is a key differentiating factor between australia and better performing, more innovative countries. As many of my website followers are aware, mckinsey released a study in 2015 entitled why diversity matters covering the benefits of corporations that housed a diverse workforce and leadership. Why diversity matters in your workplace and how to achieve it. A vast body of research documents the relationship between diversity and improved. Mckinsey would also like to thank the interviewees for their expert insights.
Why the evolving healthcare services and technology market. The study is part of a longterm partnership between leanin. I learned an enormous amount in that time, but scarcely enough for me to explain to the world the skills that mckinseyites use to succeed. He will address the business implications of diversity in the workplace and delve deeper into the genderspecific insights the research has uncovered. The authors would like to thank andrea alexander, mauricio arnau, lori dobeus, kirill dushkin, lauren miller, and katie smith for their contributions to this report. The diversity matters research looks at the relationship between the level of diversity and company financial performance. This new report, gender diversity in top management. These networks churn out huge volumes of data that flow to computers for analysis. Mckinseys examinations found that companies that allow for gender diversity within the workplace are. Our latest report, diversity matters, examined proprietary data sets for 366 public companies across a range of industries in canada, latin america, the united kingdom, and the united states. The ge mckinsey matrix is a ninebox matrix which is used as a strategy tool. Organization article january 2015 why diversity matters by vivian hunt, dennis. New mckinsey report brings wips into focus spend matters. Mckinsey updates its 2015 study on diversity supplierty news.
It has become obvious that the internet is changing our livesthe way we work, shop, search for information, communicate, and meet people. The first report, women matter, published in 2007, identified a positive relationship between corporate performance and elevated presence of women in the workplace in several. In addition to market share the ge mckinsey matrix also considers the strength of a business unit. Just last month, highprofile journalist, lisa wilkinson left the today show, after her request to be paid on par with her colleague, karl stefanovic, who was reported to be earning almost double wilkinson, was rejected by channel 9 further, radio host dave hughes from melbourne hit 101 station, took a pay cut this year to. The gemckinsey matrix is a ninecell 3 by 3 matrix used. In a bcg survey of more than 17,500 employees at companies representing a range of industries in 21 countries, only 22% of employees said that measuring the pay gap is effective. January 2015 why diversity matters vivian hunt, dennis layton, and. Corporate performance and womens representation on boards 20042008 catalyst, 2011.
Use this graphic and accompanying tool to raise awareness, move toward mobilization and action, and enact change. January 2015 why diversity matters vivian hunt, dennis layton, and sara prince new. Effective business cases set the context for diversity and identify. Diverse teams are still really good for business, mckinsey. By adapting the index, the diversity matters team was able to recognise a company that, for example, has two board members from two different ethnic minorities as being more diverse than a company with the same size board that has two. Research shows that diversity benefits corporate decisionmaking and company performance. Genderdiverse companies are 15 percent more likely to outperform, while ethnically diverse companies are 35 percent more likely. View why diversity matters mckinsey report jan 2015.
Diversity is the solution, not a problem to solve pwc uk. Aug 19, 2014 ge mckinsey matrix is a very similar portfolio evaluation framework to bcg matrix. This article is adapted from the report diversity matters pdf1,732kb, which was rereleased in february 2015. It should come as no surprise that more diverse companies and institutions are achieving better performance. The ge mckinsey matrix bears a strong resemblance to the bcg matrix. The nets sweeping impact on growth, jobs, and prosperity.
The promsi e of gol bal standards in heatlhcare october 2012. When one understands that the role of the library is a doubleedged sword, diversity comes to hold a vital place. Download delivering through diversity, the full report on which this article is based pdf 7 mb. The important statistics that are missing from most diversity. Use this graphic and accompanying tool to raise awareness. Gina valle, phd diversity trainer, speaker, author. Matters team was able to recognise a company that, for example, has two board members from two different ethnic minorities as being more diverse than a company with the same size board that has two board members from the same ethnic minority see box.
Jul 01, 2015 new mckinsey report brings wips into focus. Mckinsey filetype pdf mckinsey filetype pdf mckinsey filetype pdf download. Gender diversity on corporate boards has been widely discussed, and many ongoing initiatives study and promote gender diversity in fields traditionally dominated by men, including computing. Oct 18, 2017 product portfolio with mckinsey matrix design examples if you are working in investments area, then likely you are familiar with ge mckinsey matrix. In this compendium and those that will follow, we offer mckinseys global perspective in the key risk areas that are affecting the performance of the worlds leading companiescredit risk, enterprise risk management and risk culture, operational. The bank enables diversity in payment types and providers through the policy and rules we set and the infrastructure we operate. Mckinsey recently completed a follow up study to that report in which they analyzed more than 1,000 companies across 12 countries, looking at. Mckinsey would like to thank gs1 for its contribution to the analysis and fact base which provide the foundation of this report. Its important to us to be a leader on this, and our announcement was met. Leaders work to create diverse and inclusive workplaces in ing which women can advance must make the connection between diversity initiatives and their organizations business goals. Mckinsey filetype pdf is a global management consulting firm that. However, from the dominant cultures perspective, diversity in libraries is a threat because it challenges normalized knowledge, ideas, and practices. The internet of things csci 6433 internet protocols. Women matter 2 women matter 2 i 3 how exactly do female leaders positively influence corporate performance.
Gender diversity is equitable or fair representation of people of different genders. Firms who have diversity and inclusion as a business. Most organisations, including mckinsey, have work to do in taking full advantage of the opportunity that a more diverse. Why the evolving healthcare services and technology market matters within our market map, we then segmented the offerings into four groups. Sep 28, 2017 mckinsey s report, diversity matters, was published in 2015, but in light of the growing discussion on diversity in the it industry, a summary of the results will prove helpful to many. This article is adapted from the report diversity matters pdf1,732kb, which was. Pdf leadership integrity and diversity in the workplace.
About the authors vivian hunt is a senior partner in mckinsey s london office, where sundiatu dixonfyle is a senior expert. The important statistics that are missing from most diversity reports. Moving corporate culture, moving boundaries, is the latest in the women matter series. For the past ten years, mckinsey has been researching to build the case for greater parity in the economy and in corporations top management, and to understand the levers to make change happen. In the end, each one of us needs to decide if we want to work towards a solution, or not. Companies in the top quartile of racialethnic diversity were 35 percent more likely to have financial returns above their national industry median. Looking at sectors is the key 17 to understanding competitiveness and growth 2. Women in the workplace 2016 is a comprehensive study of the state of women in corporate america. Patterns in sector contributions to growth 23 challenge conventional wisdom 2. Mckinsey s report examines the relationship between the level of diversity defined. See getting the most from your diversity dollars, bcg report, june 2017. Diversity matters because we increasingly live in a global world that has become deeply interconnected.
In my opinion, this is one of the most cited sources that is used to justify the business case for diversity in organisations, when i say that i mean people generally use this report as evidence to support their argument when claiming that diversity is good for business, specifically because it leads to more profits. This article is adapted from the report diversity matters, on mckinsey. L on gender, while there is plenty more to do, some companies lead the way in both absolute average diversity and representation in topquartile australia, uk, and us companies make up over 70% of this group. N 589 companies 6 geographies for ethnicity 1 average economic profit. About the authors vivian hunt is a director in mckinsey s london office, where dennis layton is a principal. For more detail on each study, see catalyst, why diversity matters 20. Women in the workplace national multifamily housing council. Vivian hunt is a director in mckinseys london office, where dennis layton is a principal. The findings suggest that while some of our firms are as good as any in the world, we still have a substantial tail of firms that are mediocre, especially in their approach to people management. Bcg is only a four cell matrix, while ge mckinsey is a nine cell matrix. Solving tools and management techniques of the worlds top strategic. Mckinsey released a new diversity matters report that finds that the companies in the top quartile for gender and racial or ethnic diversity are more likely to outperform above national industry means. As a followup to its why diversity matters study in 2015, mckinsey analyzed more than 1,000 companies across 12 countries, looking at their respective profits and value creation. The effect of employee diversity on innovation pdf.
This effort was overseen by a steering committee of 11 senior executives from gsa member companies and mckinsey. The day centered on three presentations from by our guest speakers. It most commonly refers to an equitable ratio of men and women, but may also include people of nonbinary genders. Board diversity is good for a companys bottom line and strengthens other aspects of board performance, says meredith miller, chief corporate governance officer, uaw retiree medical benefits trust. The ge mckinsey matrix does not only consider growth, it mainly considers market attractiveness. Volume 2 price proposal for information technology. Lareina yee is a senior partner in the san francisco office.
Leadership integrity and diversity are significant factors in the relationship between leader and employee in the workplace. This was the obvious question raised by mckinsey s 2007 study women matter, which established a correlation between how well a company performs and the proportion of women it has in its management team. There will bethe inevitable unwavering, and even unflattering look at tactics and strategies, the effort to identify what could have been done differently or better, for use in the future, but the fact remains what those firefighters or firemen, to use ms. Product portfolio with mckinsey matrix design examples blog.
Using technology to improve workforce collaboration. Statistical overview on the benefits of diversity and inclusion for. Gender diversity in the workplace increases sales, customers and. Matters of gender equality are once again a hot topic in australia. New research makes it increasingly clear that companies with.
Mckinsey insights our latest thinking, delivered seamlessly to ipad or android devices. That is why my work is in diversity to look for solutions and share them. This article is adapted from the report diversity matters pdf 1,732kb, which was rereleased in february 2015. Aug 28, 2015 5 takeaways from mckinseys diversity matters report for the legal profession diversity isnt a buzzword, its essential to running a successful business. The first report, women matter, published in 2007, identified a positive relationship between corporate performance and elevated presence of women in the workplace in several western. Through the women matter and women in the workplace series, as well as the mckinsey global institute s reports, we have developed a global and regional understanding of the situation, built a clear economic case for change at both the macro and micro levels, and identified common barriers and change drivers across the world, as well as specific issues or gaps to fix in some regions. Such a policy signals the organizations commitment to diversity, champions subsequent implementation and.
We often perceive diversity as creating an harmonious and tolerant environment. I based this book on my own experience as a mckinsey associate from 1989 to 1992. Home digital downloads research documents why diversity matters mckinsey. Why diversity matters in your workplace and how to. Learn more about why diversity is a way of life at mckinsey. Diversity matters 3 analysis of the data from the group of 366 companies revealed a statistically significant connection between diversity and financial performance. Mckinsey matrix pdf mckinsey matrix pdf mckinsey matrix pdf download.
Your new strategy for gender diversity in recruitment. Jan 18, 2018 as a followup to its why diversity matters study in 2015, mckinsey analyzed more than 1,000 companies across 12 countries, looking at their respective profits and value creation. The diversity matters research looks at the relationship between the level of diversity. Through the women matter and women in the workplace series, as well as the mckinsey global institutes reports, we have developed a global and regional understanding of the situation, built a clear. Vivian hunt is a director in mckinsey s london office, where dennis layton is a principal. View basket kpmg meet the millennials june 2017 has been added to your basket.
A 2016 mckinsey study found that women in corporate america were hired and promoted at lower rates than men. An important catalyst is the renewal of rtgs, where we are making both policy. Jul 01, 2015 in this article, we look at 1 what is the ge mckinsey matrix, 2 understanding the matrix, 3 applying the matrix to your business, and 4 some examples. It helps multibusiness corporations evaluate business portfolios and prioritize investments among different business units in a. For a selection of earlier research on this topic, see. Mckinsey matrix pdf of product portfolio management, the general electricmckinsey matrix is still widely used for the analysis of competitive scenarios. Noonans choice of words did on that morning was a thing of great love, ultimate courage, and quintessential americanness. The following data and findings are selected from a vast body of research on the benefits of diversity 1 and inclusion 2 in the workplace, with an emphasis on studies published in the last few years. Mckinsey global institute 7 contents executive summary 9 1. Matters mckinsey, 2014 was used in devising a corporate diversity metric1. Each of the projects that diversity matters undertakes works towards that goal. Mckinsey diversity matters database likelihood of financial performance 1 above national industry median, by diversity quartile 2 percent, n991 companies 12 geographies for gender. Management matters in australia world management survey.
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