Interview
The Business Case for Investing in Diversity
- Diverse asset management teams and companies with strong diversity cultures are projected to outperform market and competitive benchmarks while generating authentic products and maintaining brand trust.
- Broader representation on boards and in workplace demographics is expected to drive long-term outperformance, while educating women and connecting them to capital in developing nations is predicted to increase GDP over the long term.
- Millennial consumption is forecasted to rise by 10% to 15% over the next five years, whereas Baby Boomer consumption is expected to decline by 5% to 10% during the same period.
- Goldman Sachs intends to review results of its global voting policy regarding boards lacking women early next year and will engage companies to improve workplace demographic disclosure for the remainder of this year and into 2021.
- The firm anticipates that diverse talent will eventually enter the organization naturally, thereby reducing the future need for explicit discussions regarding diversity metrics.