06 Oct Capitalizing on Talent Diversity
One reason society, organizations, and technology aren’t inclusive is because managing diverse talent is complex. Diverse cultures, race, gender, and age offer a wide range of perspectives, complicating systems designed for one norm, not outliers, to maintain quality efficiently. Efficiency, by definition, forces trade-offs, choosing one way of doing things.
Efficiency is just one strategy for profitability – and has been the strategy of choice for the past 20 years as organizations globalized.
There are other strategies for profitability for today’s global organizations. Now that they have already penetrated global markets and the Covid crisis is de-centralizing a remote workforce, in closer proximity to local marketplaces, there is a new opportunity to expand the market by attracting more diverse customers, and, develop new revenue streams through strategic partnerships that add value. These strategies require different skills. Skills that create order out of the complexity of diverse perspectives.
Financial partners are not the only stakeholder with “skin in the game.” And the risk each stakeholder takes is relative. A customer who spends a significant part of their monthly paycheck is risking more, from their perspective, than a financing partner who invests millions, but which represent a tiny fraction of their investments. Each has a different definition of success, creating conflicting interests which leaders trade-off to achieve their interest – “making the numbers” and getting promotion.
- Customers risk hard-earned money & time
- Leaders risk careers
- “Back-end” partners risk precious time & money for payment later
- Employees risk health and well-being to give up control of their lives
- “Front-end” partners risk their integrity
Compounding these conflicting interests, are the multiple perspectives of diverse culture, gender, race, and age among these stakeholders. Now that’s complexity!
Although it is hard to bring order to this complexity, when all stakeholders see mutual benefit, they are more likely to trust that the risk is balanced – when they take a big risk, everyone else will too, multiplying the returns on everyone’s investment.
Bringing order to this complexity requires creativity, collaboration, and transparency.
- Creativity to see all perspectives and the possibility for mutual benefit that transcends conflicting interests – a win-win scenario.
- Collaboration to engage, motivate and win commitment from all.
- Transparency about the balance of individual stakeholder risk and reward, to give universal confidence in resilience going forward.
These are the competencies we support for organizations interested in exploring the Future of Work at COMRADITY.