Panel, Conference Presentation
Businesses That Thrive Through Diversity and Inclusion
Milken InstitutePatricia Milligan, Troy Carter, Marcia Page, Lucy Parker, John Stackhouse, Kelvin Thompson, Pat Milligan, Martha Nussbaum, Caroline O, Rachel Bronson, Martha Minow, Nancy Kanwisher, Lucie King Jr, Patricia Wilson, Jayma Adams, Anne K
- Current progress toward diverse workforce representation is insufficient to meet the 2020 deadline for diversity and inclusion goals, with the entertainment media sector lagging behind strategic commitments.
- Innovation relies on diverse populations, as the global business environment is projected to become profoundly complex within five years, rendering homogeneous leadership models ineffective.
- In financial services, the trajectory from 16% to 30% female executives is estimated to take 30 years, with potential for reported numbers to move backward if changes are not enforced.
- The executive search industry faces structural hurdles where distressed clients often resist diverse candidate slates, necessitating early relationship building to secure a pipeline for the next five years.
- Achieving specific representation targets, such as 40% diverse board membership, requires top-down leadership tone, rigorous measurement, and the removal of barriers associated with the "gray ceiling."
- Failure to access capital or remove homogeneity may stall necessary changes, while consumer activism is expected to hold founders and boards accountable for inclusive actions.
- Organizations that embrace increasing global complexity through diversity are forecast to succeed, whereas those relying on similar thinking patterns are predicted to face failure.
- The search industry plans to partner with private equity and alternatives sectors to drive urgency, while leaders are expected to win by taking risks on individuals not yet fully fit for purpose.