In the modern workplace, the importance of diverse leadership cannot be overstated.
However, when we talk about diversity, we refer to a broad-spectrum of identities encompassing race and ethnicity, gender, cultural background, age, sexual orientation, disabilities, and different educational backgrounds, among many others. According to a report by the Canadian Securities Administrators the number of board seats occupied by women in publicly listed Canadian companies increased from about 11% to 27% over the last nine years.
Diversity in leadership ensures that leadership or management teams reflect a wide variety of human experiences and perspectives. Yet people of colour (or racialized people) hold only about 10.4% of board positions across various sectors in eight major Canadian cities, according to a study by Toronto Metropolitan University’s Diversity Institute. This underrepresentation, as one indicator, means that many experiences and perspectives are missing from leadership discussions and might limit innovation.
Diverse leadership improves company culture
A diverse leadership team brings a wealth of experiences and perspectives that can transform company culture. According to Catalyst, diverse leadership fosters an inclusive environment where employees feel valued and understood, regardless of their background. This inclusivity boosts morale, maximizes productivity, and enhances teamwork. Thus, leading to a more cohesive and motivated workforce.
This blog was written by Michael Bach, consultant to Build Force Canada. Continue reading at buildforce.ca/en/resource-centre ■