News

How remote work can positively impact diversity, inclusion

 


Remote Report | April 20, 2021




The Remote Report article. "How remote work can positively impact diversity, inclusion​," quoted Russell Reynolds Associates Consultant T.R. Straub on how remote work can provide organizations with more opportunities to hire diverse leadership talent. The article is excerpted below.

Two surprising revelations have come out of the Covid-19 pandemic: That the new work-from-home flexibility improves productivity and it also attracts a larger, more diverse talent pool unlimited by geography.

Couple that with studies, such as an early 2020 McKinsey & Company report, that show top-performing companies have a higher level of gender and ethnic/cultural diversity, and one conclusion becomes clear.

Diversity plus remote work is good for business.
...

Diverse companies outperform industry peers

The McKinsey & Company report noted that in its 2019 research, companies in the top quartile for gender and ethnic diversity on their executive teams outperformed those in the fourth quartile by 25 and 36 percent, respectively.

With financial performance improvement being such a strong argument for hiring diverse leaders, organizations should be prepared to consider remote-work options for top leadership candidates, says T.R. Straub, a diversity, equity and inclusion (DE&I) practice co-lead at Russell Reynolds Associates, a global leadership advisory and search firm.

The last year of remote working has made many candidates more “comfortable with the flexibility that setup provides and their ability to be productive — and even high achieving — without being in the office,” he said.

As a result, their expectations are shifting.

When candidates are considering a job change, “asks related to remote/hybrid flexibility are common, and openness to relocating is decreasing,” Straub noted. “That said, many organizations’ policies and openness to have someone start remote or hybrid — or not relocate at all — has not yet caught up.”

Still, there’s been an “incredible uptick in demand” for diverse executive candidates, he said. “[These] professionals are in positions of negotiating strength; they often don’t have to consider moving or being full time in the office, and we’re seeing our clients pivot — and often accommodate — in real time,” he said.​

To read the full article, click here​.


Sign up for our newsletter

Get the newsletter that prepares you for what's next with valuable insights across industries and geographies.
How remote work can positively impact diversity, inclusion