The Ethics of Diversity

The Ethics of Diversity provides a practical guide as to why diversity matters for boards, companies and their stakeholders. There are important ethical
dimensions in the framing of diversity in terms of the questions asked and the solutions presented. The report seeks to provide boards with a framework for
understanding these ethical dimensions and addressing them systematically.
In the UK to improve gender diversity and the lessons learned from the multi-stakeholder approach. It looks forward and considers initiatives to improve
other dimensions of diversity. Academic and practitioner research on the various proof points for diversity are examined, including the business case and in
how board governance can be enhanced, and the risk of groupthink lessened, through improved board diversity.
The Covid-19 pandemic has amplified existing systemic risks related to inequalities and how these have been heightened further by the global focus on racial
injustices, all of which have brought a new urgency to the diversity agenda. This is particularly evident in the role that investor stewardship is increasingly
playing in driving change.
Having been involved in diversity advocacy since 2011, the pace of change in the past year, and the evolving expectations on companies, their investors and
society more generally, has been unparalleled, in my opinion. It is also important to reflect those existing systemic inequalities were already being exposed
through movements such as Me Too prior to the pandemic.
The Ethics of Diversity offers guidance on how boards can get ahead of the curve on all dimensions of diversity to achieve more inclusive and successful
corporate cultures through strategies that embrace and value diversity of thought and experience. Such strategies can also break down the barriers that
marginalized groups face within and outside organizations. In conclusion the board can embrace cognitive and experiential diversity and unlock the
sustainable business benefits that will flow.
References
– S.E. Page (2017) The Diversity Bonus: How Great Teams Pay Off in the Knowledge Economy
– L. Janis (Psychology Today Magazine, 2020) Groupthink. Retrieved from: https://30percentclub.org/initiatives/investor-group
– K.W. Phillips (2019) What is the Real Value of Diversity in Organizations? in S.E. Page (2019) The Diversity Bonus: How Great Teams Pay Off in the
Knowledge Economy