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An Albany Business Review article offers some sound advice about why it’s dangerous to ignore diversity and inclusion even in this unstable economy:

Competing with diversity programs in corporate America, however, are bottom-line concerns. Steven L. Robbins, a Michigan-based consultant who has done diversity training for Toyota, McDonald’s and NASA, said he has seen companies scaling back on these types of programs. But that’s a mistake, he said, as diversity can pay.

People like Robbins point out that diverse companies better understand diverse clients, have improved productivity and are less likely to be sued. More important, Robbins said, is the link between diversity and creative thinking—something that’s key in a nation with a knowledge-based economy.

“In general,” he said, “the more perspective you have, the better you can solve complex problems.”

The article also cites a University of Illinois at Chicago professor’s study showing the connection between diversity and profits, something that flailing companies would do well to consider:

Herring studied 250 companies and looked at how well they performed. The more diverse companies, he found, were more profitable, had larger market share and had more customers.

To read the entire article, click here.