Diverse hiring pays dividends
The 20 most diverse companies in the S&P 500 achieved higher operating profit margins (12% vs. 8%) and enjoyed greater stock returns (10% vs. 4.2%) than the 20 least diverse firms on the index, according to analysis from The Wall Street Journal. Who’s at the head of the diverse hiring pack? Insurance company Progressive and banking giant JPMorgan Chase, ranking No. 1 and No. 2 on WSJ’s list. The winning firms connect their diverse hiring to their ability to develop novel products and think more creatively.