It’s rare to find a company that does not claim diversity as a top priority — but achieving a diverse workforce does not happen through good intentions alone. It takes time, effort, and yes, money. That’s why those of us who champion corporate diversity and inclusion applaud Google’s announcement that they will set aside $150 million for spending on diversity initiatives in 2015. This is an essential step for the tech giant to take and if companies want to remain competitive, they should seek to follow in Google’s steps.
Simply put: diversity improves company bottom lines. Numerous studies have shown that when more women and people of color have a seat at the table, companies make better-informed decisions and perform at a higher level.
The need for diversity is rooted in pure common sense. Our country is diversifying at an unprecedented pace. According to data from the Census Bureau, in the next five years more than half of children in the U.S. will be part of a minority race or ethnic group.
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