Research on the Benefits of Diversity – Increased Representation of Customer Base
The UK Government has itself highlighted some of the benefits of greater diversity on company boards, with Vince Cable, Secretary of State for business stating that:
A Credit Suisse Report touches on how a gender-mixed board may have a better understanding of the consumer preferences of households, particularly in sectors where women make many of the spending decisions. This reflects a widely held view articulated in a McKinsey report: Unlocking the full potential of women at work (2012) which found that "CEOs articulate simple, compelling rationales, such as … having a workforce that better matches customer demographics." As with other areas, evidence-based research is limited, but there is an increasing body of thought that suggests that a better match by management of their executive group with their company’s customer base is a matter of common sense.