Employee Benefit News June 28, 2022
While diversity has been top of mind for many hiring managers and recruiters, it seems to rarely touch the executive level — and that’s costing companies.
With 86% of Fortune 500 CEOs being white men, there is little room for anyone else to share influence over a company’s mission and direction. And yet, McKinsey found that companies that scored in the top quartile for gender diversity on executive teams were 25% more likely to have above-average profitability than companies that scored towards the bottom. Meanwhile, those at the top for ethnic and cultural diversity outperformed by 36% in profitability.
Robert Petrarca, co-founder and CEO of Maxine’s Heavenly, a natural, homemade-style cookie company, knows firsthand what diverse leadership looks like...
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