Companies with diverse leaders earn more, research shows
McKinsey studied 1,200 companies across 23 countries in 2023. Companies with gender and ethnic diversity in leadership had better financial returns.
Winston Peters recently claimed diversity causes disunity. But research tells a different story.
McKinsey analyzed 1,200 companies in 23 countries in 2023. Those that embraced diversity had better financial returns.
The Wall Street Journal found diversity is linked to innovation. Bloomberg's data since 2018 showed female board representation correlates with higher returns.
In New Zealand, the Treasury Secretary said in 2014 that diversity improves performance. It does not compromise it.
The Royal Commission into the Christchurch Mosque attacks concluded that diversity in leadership and policy helps social cohesion. New Zealand Football won the 2026 Diversity Awards.
This shows how sports have embraced ethnic and gender diversity. Countries also gain from multilingual workforces.
Switzerland credits 10% of its GDP to having four national languages.
- 1,200 companies in 23 countries
- McKinsey study scope
- 2023
- McKinsey publication year
- 2014
- Treasury Secretary quote year
- 30%
- NZ born overseas
Why it mattersNew Zealand is becoming more diverse. 30% of its residents were born overseas. One in three will be Asian by the 2040s. Evidence shows diverse teams and organisations perform better, not worse.
AustraliaNo direct Australian effect yet, but the research spans global companies including New Zealand operations, and Australian businesses follow similar trends on diversity and inclusion.
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