The dividends of diversity: the win-win-win model is taking over business and it necessitates diversity

Abstract

Purpose

The purpose of this paper is to show business leaders and human resource professionals that promoting diversity within any given organization is good for business. By demonstrating the concrete ways in which diversity is good for business, good for clients, good for customers and good for the larger community, this paper intends to convince readers to implement diversity, and provides them with a strong argument for doing so.

Design/methodology/approach

This paper outlines the necessary facets of being an ethical leader and provides an exploration of the role of diversity in ethical leadership and successful business. It also provides various case studies, including the company the author created, Sheppard Associates, which benefited enormously from focusing on diversity in the workplace.

Findings

Diversity is not just good for business, it is good for employees, clients and our society as a whole. Diversity means promoting and rewarding employees based on merit and not based on their gender, race, physical disabilities or any other physical attributes. To create a diverse workforce, leaders must be open to overcome their own unconscious bias. Leaders are key to encouraging and promoting diversity in any organization. It is their role and responsibility to ensure that the company’s ethical values become the moral compass for decent behavior throughout the workplace.

Originality/value

This paper uniquely focuses on the idea that “leadership excellence demands ethical business practices.” A leader cannot achieve the highest standards without embracing ethics and integrity in everything he or she does. Furthermore, the primary function of leaders – business, political, military and community – is to inspire those around them. Failure to perform this function, especially when it comes to inspiring others to accept and celebrate differences in culture and race, is self-defeating.

Citation

Sheppard, D.L. (2018), "The dividends of diversity: the win-win-win model is taking over business and it necessitates diversity", Strategic HR Review, Vol. 17 No. 3, pp. 126-130. https://doi.org/10.1108/SHR-03-2018-0017