Learn four steps leaders can take to increase diversity and inclusion on project teams, and find out how those changes might benefit their businesses. Diverse and inclusive project teams can provide businesses with many benefits. The most diverse teams are more likely to outperform less diverse teams, according to findings by McKinsey. This also holds true when managing projects. Team diversity can improve project success rates through an increased sense of community and support, decreased conflict and increased innovation.
According to the Project Management Institute's Pulse of the Profession, it's estimated that 88% of project professionals say having diverse project teams increases value. Yet, according to the PMI report, due to the COVID-19 pandemic, almost 30% of companies put most or all diversity and inclusion initiatives on hold, which is a mistake. PMI asserts that in the Project Economy, organizations recognize they need a full breadth of perspectives and skills on their teams—true diversity to foster innovative, collaborative and future-ready teams that deliver powerful outcomes.
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Diversity vs. inclusion
There's sometimes confusion about the difference between diversity and inclusion. Diversity refers to the composition of your workforces such as gender, ethnicity, age, socioeconomic status, disability or veteran status, and religious beliefs, to name a few. Inclusion is a measure of culture that enables diversity to thrive and refers to how much everyone's contributions are valued. It requires all individuals to be supported in doing their best work and to be afforded equal opportunities to advance.
