How to get big financial returns from diversity in the economic downturn

To help clients succeed with diversity in these financially challenging times IDC has teamed up with Virtcom Consulting (US market leader in bottom line diversity) so that we can offer the combination of their Return on Investment (ROI) offering and our unrivalled delivery experience.

The Best Proof of Diversity ROI is the Harvard Business Review Case Study of IBM in the late 90s to early 2000s. IBM leveraged diverse groups of employees to drive £150m in incremental revenue over 5 years. How did IBM do it?  Blindspots™

A Blindspot is defined as:

“A subject about which an individual is ignorant… and fails to exercise good judgment”

A Blindspot related to diversity and business is defined as:

“A missed business opportunity linked to diverse employees, suppliers, community, marketing, business development, or capital investment”

A Blindspot in the context of diversity & business is a missed diversity business opportunity.

We offer a three step process:

1.      Blindspots Audit                      

Identification of diversity business opportunities and quantification through financial forecasts

2.      Blindspots Training

Face-to-Face Middle Management Training and online E-Learning

3.      Blindspots ROI Scorecard

Online surveying, reporting and metrics tool linked to ROI training

Hence, the 5 steps to success are:

1.      Identify Diversity Business Opportunities

2.      Quantify Diversity Business Opportunities (cost-savings, productivity, revenue, capital)

3.      Empower Middle Managers and Sales Force with “Diversity Business Acumen”

4.      Measure financial returns linked to Diversity Business Opportunities

5.      Underpin actions with culture change methodology.

IDC, in partnership with Virtcom, will be pleased to talk to any organisations who wish to access the big returns potentially possible from identifying and analysing diversity Blindspots.

Dr Ian Dodds,

30 Sep 08

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