Imagine a workplace where diverse perspectives merge to create groundbreaking innovations. A company where diversity is not just a cliché but a source of growth and success. Does that sound like a distant dream? It’s not. In a constantly evolving world, diversity and inclusion are the keys to navigating complex challenges and seizing new opportunities. But how do we get there? As a passionate advocate for diversity in business, I have seen what works—and what doesn’t. It’s time to take a critical look at our own biases and act proactively.

Are you ready to challenge the status quo and create a more inclusive future?

The Value of Diversity

Despite many initiatives and discussions over the years, the numbers show that we still have a long way to go. Although there is a lot of talk about diversity and inclusion, not enough has been done. Diversity is about more than just gender— however research arguments show that starting with gender is a good beginning to train our bias muscle. For example, a study by the Peterson Institute for International Economics found that companies with at least 30% female executives are more likely to outperform those that don't. We have to start somewhere, and small differences can spark a larger movement. 

Diversity is not just a matter of fairness; it has been proved that it improves complex decision- making and drives growth. The skeptics are still out there, but the evidence is clear: diversity creates business value, and we should continue striving for change. By focusing on diversity, companies not only enhance their performance but also foster a more inclusive and innovative work environment. This, in turn, attracts top talent, improves employee satisfaction, and strengthens brand reputation.

Challenges and Solutions

Some leaders still see diversity and inclusion as abstract concepts that can be dealt with by the HR department. It is crucial that diversity becomes a strategic priority at the top executive level. The first step is to measure it—measurable results ensure that initiatives are not forgotten in daily operations. Some companies, for example, have introduced bonuses based on various parameters, with diversity being one of them. Another concrete example of how to work purposefully with diversity is to offer sponsorships to young women in business. However, it is also important to maintain a balance and avoid creating new divides and discrimination.

A 2023 study shows that 75% of Danish companies are working on diversity, but many of them have no written policies or concrete efforts, which prevents them from taking real action. To drive action, I have gathered a group of leaders from major Danish companies that have already implemented various initiatives and strategies to embrace diversity, equity and inclusion in their organizations. I have established an Executive Diversity Advisory Board, where we will attempt to create tangible actions in this domain.

It Starts with Us

As professionals in executive search, we have a unique opportunity to drive change. By prioritizing diversity in our searches, we can identify and attract a broader spectrum of talent. By actively working on our own biases, we can ensure a fairer recruitment process. It is time for us as recruitment specialists to take responsibility and use our position to promote an inclusive culture in business.

The demands on leadership are also changing with the increased focus on diversity. Future leaders must be able to lead a diverse workforce, which requires new leadership skills and adaptability. It can be more challenging to lead a diverse team than a homogeneous one. But when you bring together a diverse team, there is less likelihood of blind spots and thus broader perspectives.

Diversity, Equity, and Inclusion is not a one-size-fits-all solution. It requires adaptation and understanding of the individual company's needs. By focusing on concrete actions and measurable results, we can inspire and guide leaders to take steps towards a more inclusive and effective workplace. Imagine a future where diversity is not just an ambition but a reality. Where differences are celebrated, and every single employee feels valued and included. It is not just a vision but a necessity for surviving and thriving in an increasingly complex and globalized world. It is time to act—and it starts with us.

By:

Peter Mangaard
Managing Partner at Mangaard & Partners