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WHY DIVERSITY MATTERS – THE BOTTOM LINE IMPACT
ANTHONY BOWMAN, DIRECTOR OF OPERATIONS
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WHY DIVERSITY MATTERS – THE BOTTOM LINE IMPACT
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Commodity Prices
Oil
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Iron Ore
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WHY DIVERSITY MATTERS – THE BOTTOM LINE IMPACT
Aspects of Diversity
• Age
• Gender
• Ethnicity
• Cultural background
• Physical ability
• Sexual orientation
• Religious belief
• Work experience
• Educational background
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WHY DIVERSITY MATTERS – THE BOTTOM LINE IMPACT
Catalyst, 2007
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WHY DIVERSITY MATTERS – THE BOTTOM LINE IMPACT
McKinsey & Company, 2015
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WHY DIVERSITY MATTERS – THE BOTTOM LINE IMPACT
Why Diverse companies perform better
• Ability to recruit the best talent
• Stronger customer orientation
• Increased employee satisfaction
• Improved decision making capability
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WHY DIVERSITY MATTERS – THE BOTTOM LINE IMPACT
Australian Institute of Company Directors, 2015
Gender Diversity on Australian boards
• ASX 200
– 2015: 21% women (2009: 8.3%)
– 29 companies male only
• ASX 300
– 2015: 19.4% women
– 64 companies male only
• All Ords
– 2015: 16.1% women
– 179 companies male only
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WHY DIVERSITY MATTERS – THE BOTTOM LINE IMPACT
Barriers to Diversity
• Work environment
• Lack of flexibility
• Autocratic leadership
• Hegemonic structure
• Unconscious bias
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WHY DIVERSITY MATTERS – THE BOTTOM LINE IMPACT
Creating Diversity
• Leadership driven
• Understand the issues
• Communicate the vision
• Establish a plan
• Make it a priority
• Seek assistance
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WHY DIVERSITY MATTERS – THE BOTTOM LINE IMPACT