Why diverse women leaders are the key to driving equality, innovation, trust and morale

Research has repeatedly proven that having women at the helm of companies comes with a slew of benefits for businesses. That said, while gender diversity is a must, having diversity and representation in all regards—racial, cultural, ethnic, religious, sexual orientation, and disability—is critical to running a successful operation, too.?

Including women from diverse backgrounds in a company’s C-suite offers profound rewards, and promotes equity and equality from the top-down. In honour of International Women’s Day, I’m outlining some of the most salient ways having diverse women in leadership roles can bring a company to a higher caliber—while also making the world a more just place for all.

Diversity drives equality?

In order for a company to truly succeed in today’s multifaceted marketplace, it must reflect the values and ideals of the broader society. Hiring diverse employees isn’t itself enough; businesses need to invest in diverse leaders, too.?

Above all, having diverse female leaders at the forefront of companies fosters a strong sense of equality, which, as we know, was historically missing in the traditional business world. Particularly in industries that have long been dominated by white men, having a strong female presence—especially with varied backgrounds—ensures a more inclusive, equitable, and approachable organization.?

Not only will having a diverse leadership team resonate with consumers, but it will also engage and attract prospective employees. If you’re hoping to acquire top talent, having a diverse leadership team is an excellent place to start.?

Diversity drives innovation

Broadening diversity within a company’s leadership will not only make it a more inclusive workspace, but it will also spur greater innovation. In short: more diverse viewpoints = more perspectives = more creativity = a better business.?

If everyone in a company—particularly in leadership roles—has the same background and life experiences, it’s far less likely that the team will produce products and ideas that meet the needs of a diverse consumer base. Having a diverse team, meanwhile, positions a business to think outside of the proverbial box, and come up with concepts that surpass the ordinary. Diversity plays a critical role in the ability for a company to ideate, innovate and grow.

Diversity drives productivity?

Just as a diverse workplace gives rise to greater innovation, it also promotes improved productivity. Having a varied team, especially at management and leadership levels, typically involves people possessing a range of unique talents and skills. Having staff with differing talents allows for a more wide-ranging group, thereby increasing capacity for creativity and overall efficiency.?

Diversity drives positive morale?

When it comes to a successful business, maintaining a strong company culture is essential. At the end of the day, a company is only as good as its employees.?

Diversifying leadership is one significant way to boost morale, and prove to employees that they, too, can rise to the top—regardless of their background or gender. Women-led companies are generally preferred by employees, and more broadly, they have shown to yield superior returns. Investing in diversity beyond gender heightens those benefits, making a company more equal and inclusive—and undoubtedly a happier, more motivating place to work.?

Diversity drives trust?

Consumers and prospective employees are far more likely to trust a brand or business that reflects their own ideals. It’s often the people behind a business—especially those who are in management and leadership positions—that come to define what a company stands for. Having a diverse array of faces at the helm of a business drives trust, increased engagement, and greater retention—from both employees and consumers.?

Diversity drives meaningful partnerships

When diversity is top of mind, it trickles down throughout an entire business. Not only is diversity essential for internal operations, but it’s also important to consider for partnerships, products and other external-facing elements of a business.?

For instance, Balzac’s partnered with the Las Rosas Women’s Group in La Plata, Colombia to create a thoughtfully sourced single-origin coffee. The goal, of course, was to make an exceptional cup, but far beyond that, our primary aim was to support gender equality, and promote women in leadership positions around the globe.?

To celebrate International Women’s Day, I urge you to brew a pot of this delicious blend—which boasts a unique flavour profile, with notes of rich dark chocolate, brown sugar and pomegranate. This dynamic, subtly sweet blend was made with diversity in mind.?

Either way, I hope you’ll take a moment to consider the many benefits of supporting diverse women at all levels of business and beyond.