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Volume 23 No. 14
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Highlights of McKinsey’s diversity report

In 2015, consulting firm McKinsey & Co.’s “Why Diversity Matters” report revealed a positive, statistically significant correlation between executive team diversity and financial performance. The company last year conducted an extensive re-fielding of that study, which included a deep dive into the personnel makeup of 1,007 companies across 12 countries. Select U.S. data from that “Delivering through Diversity” report is presented here.

 Companies in the top quartile for gender diversity on their executive teams were 21% more likely to experience above-average profitability than companies in the fourth quartile. Similarly, the top one-quarter of the companies that were more ethnically/culturally diverse were 33% more profitable than the least diverse companies.

 Sodexo and its Centerplate division operate food and beverage at nine major league sports venues in the U.S. and are the dominant third-party concessionaire on college campuses. The company’s internal research, according to McKinsey, “revealed that greater representation of women in management positions — between 40% and 60% women — correlated with superior performance on measures such as customer satisfaction and employee engagement.”

 Seven women are on the company’s BOD, according to its most recent shareholder meeting, as are 37% of its executive committee and nearly half of its 460,000 employees worldwide.