Karen Greenbaum is President and CEO of the global Association of Executive Search and Leadership Consultants (AESC).
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Innovation thrives when diverse perspectives come together. When decision-makers bring the same perspectives, information, thought processes and ideologies to the table, they look at situations through a narrow lens. This limits the chance for novel ideas to emerge and diminishes a team’s ability to turn challenges into opportunities.
It's the infusion of diverse cultural backgrounds, education and unique life experiences that brings about fresh ideas. Only then can teams look at a situation—whether it's creating a new product or service, entering a new market or pitching a new client—through a new, broader lens. And it's a lens that encapsulates varied lived experiences and sparks creativity and problem-solving.
Inclusive Innovation In Action
Over the last decade, research has proven that inclusion is the catalyst for innovation. In 2020, the World Economic Forum reported that when companies foster inclusive cultures, they can see up to higher rates of innovation by around 20% and a near-equivalent increase in revenue. Many organizations have illuminated this positive effect through action. Here are three examples of products and services that arose from innovation.
• OXO Good Grips: This line of accessible kitchen tools was created through the collaboration of OXO founder Sam Farber and his wife, Betsey, who suffered from arthritis. The couple wanted to make everyday life easier for people of all abilities. Having Betsey's perspective and lived experience using kitchen tools led to the line's innovative design and opened the door to new markets.
• Women’s Health Access Matters (WHAM): Founded by Carolee Lee in 2018, WHAM works to address the lack of research on the economic costs, benefits and social impacts of attention to sex- and gender-related health. With a commitment to funding women’s health research, this organization helps show that greater investment could generate billions of dollars for the economy and save many lives.
• IKEA's ThisAble Campaign: In 2019, Swedish retail company IKEA developed 13 open-source 3D-printed furniture add-ons to solve accessibility issues. This democratized the company's popular home furniture, allowing it to tap into new markets.
These are just a few examples. As you look around, you’ll find that nearly every invention was designed by someone or a team of individuals with a new perspective.
How To Create A Truly Inclusive Environment
For my organization’s latest research on diversity, equity and inclusion, we conducted interviews with 52 leaders committed to creating long-lasting inclusion. Here are some of the most effective ways they identified to build an environment that harnesses inclusion for the benefit of the business.
• Representation In Leadership Matters: It's vital that professionals with diverse backgrounds see themselves represented in an organization's high-level roles. Ensure your recruitment processes are inclusive to reduce bias. For example, you can actively put together diverse hiring committees and interview panels.
• Accountability Motivates: Identify internal and external accountability measures, and incentivize employees to prioritize and attain DEI goals.
• Engagement Must Come From All Directions: Everyone, whether they're in executive or junior roles, needs to be involved in DEI efforts. Harness the power of a multifaceted approach to engage your entire workforce.
• The Proof Is In The Policies: Ensure your organization has strong, accessible antidiscrimination policies that are strongly enforced.
• Metrics Are A Must-Have: Set benchmarks and track key DEI metrics, such as employee engagement or applicant demographics. This can help ensure your organization is directing its efforts toward the strategies that prove most impactful.
• There Are No Easy Solutions: Understand the barriers your organization will face as it attempts to build an inclusive environment. Be prepared to address them through clear and inclusive processes, programs, training and policies.
When you embed DEI in how your company operates and create accountability, you can drive improvements inside and beyond your walls.
Creating A Competitive Advantage And Unlocking Potential
The journey toward innovation begins with recognizing the importance of diverse lived experiences and actively creating spaces where everyone feels they belong and have a voice. By fostering environments where diverse perspectives are both represented and valued, organizations can unlock a wealth of creative potential.
Innovation creates a competitive advantage that can lead to financial growth, new markets, enhanced performance and overall success. You must strive to access the power of diversity and inclusivity to unleash your organization's full potential.
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