Diversity as Strategy: Why the Smartest CEOs Build Inclusive Empires

0:01Jeannette:Write down the last big decision you made in your business and who was in the room when that decision was made.

0:12So diversity as a strategy and why the smartest CEOs are absolutely focused on this. So hello, Brave Bob Brilliant family, Jeannette Linfoot here. I am so excited to be with you live today. You might actually be listening back to this on the podcast or on YouTube. So if you are, again, welcome. It's lovely to see you all. So let me ask you something. When you think of diversity in business, what comes to mind? You know, is it hiring quotas, annual reports, a kind of a feel good initiative on your website? Or is it something more deep rooted than that that you're passionate about? Now, here's the truth.

0:56Diversity is not a box to tick. It's not a PR stunt. And it's definitely not just about compliance. So whilst it's obviously the right thing to do, but society is also good for business. And when diversity is done right, it's one of the most powerful growth strategies that a CEO or business leader can embrace. And, you know, honestly, in my 30 years in business, both running huge global corporations and also as a portfolio entrepreneur, I can honestly say that it is the smartest leaders in the world know that inclusion fuels innovation, you know, and absolutely drives resilience and builds businesses that can outlast any market change.

1:41And it's why I actually sit on the advisory board for Balance the Board, you know, which is all about how do we create more diverse boards, but most also on top of that diverse teams that really drive performance. so you know i'm hugely passionate about this when i was in my earlier career i was nearly always the only woman in the boardroom with a p and l with profit and loss account um you know so i have this is a lived experience for me as well but also i'm passionate about the change that's happening and how much more we can all do that not only as i say creates opportunities for all but actually delivers results, delivers financial results and a better business all round.

2:25So today we are going to explore exactly why inclusive leadership is the secret advantage behind the world's most successful empires and you know how you can weave that into your own strategy no matter the size of your business. So this applies to SMEs as well as big corporates. So before we dive in And, you know, I want to hear from you. You know, when you hear the word diversity, what's the first word or phrase that comes to mind? You know, let's see where we are with our collective mindset right now. So if you're listening to this live on social media, stick a comment in the chat. You know, you can message us, you know, check out our website, actually, www.brave-bold-brilliant.com, because you're going to find loads of great resources there.

3:11And actually, we have just recently launched our new Rise Academy, which is really the go-to for leadership and business development. And in that, we actually have a specific module when it comes to building teams on how do we build and create an inclusive and diverse culture. So it's so important this. But let's see where we are as a collective right now. Where's your mindset? Share with your thoughts with us. Stick it in the comment, as I say, or drop us a message. You can even DM me if you prefer. So love to hear from you. So let's get into this. We've broken this down into a number of sections for you.

3:48So first of all, why diversity is a strategy and not just a slogan. So, you know, let's set the record straight. Diversity is not just about the optics. It's about outcomes. Now, of course, I'm a big believer that what gets measured gets done. So we need to know where we are and where we're heading. But diverse teams bring more ideas to the table. Diverse perspectives spot blind spots faster, inclusive workplaces, you know, creates higher engagement and retention. You know, and more and more people are choosing those businesses that are actually on really proactive with this stuff. You know, businesses that prioritize diversity, you know, they outperform those that don't.

4:33It's proven time and time again. So it does actually drive me a little bit crackers that we're still talking about this. But here we are. So let's all do our part in making sure that we have a diverse, equitable and inclusive teams and businesses. Now, McKinsey research shows, you know, companies with diverse leadership teams are significantly more profitable.

4:55Jeannette:But, you know, what's even more important, those businesses, they don't just make more money. they're actually more resilient they adapt faster they see opportunities that others miss so the case is super clear you know and why is that well because when you build a table where everyone has a voice you unlock insights that no single leader could actually find alone and you also represent the customers and the clients that you have you know because you will have diverse customers and if those customers are not represented in your leadership teams then how can you actually understand and provide the best services for them so here's a little exercise for you make a note of this i'm a big believer get it out of your head down on paper because it's super it's super helpful to do that so just reflect on this write down the last big decision you made in your business and who was in the room when that decision was made and just importantly who wasn't it's a great way to check in when you're making those big decisions who are you actually taking counsel from who are you including in order to get a diverse set of opinions before you make that call as a leader okay so part two as I say there's going to be quite a few tips here for you So do make those notes and do send us your thoughts.

6:18We are here to help.

6:20Jeannette:As an organisation at Brave Bold Brilliant, you know, we're passionate about business. We're passionate about people. We believe that every single leader, every single person, every single team and every single business has got the potential to be brilliant. You know, but it is that diverse thought that we're looking to achieve in order to get us there. So that's part one. Part two, let's take a look at this. What are the strategic advantages of inclusion? So let's break it down into the tangible benefits of building an inclusive team and inclusive business. So, you know, the first one is really it's about innovation, innovation on steroids, really.

7:02Jeannette:Homogenous teams often recycle the same ideas, whereas diverse teams, they're going to draw from different life experiences, sparking that creativity that we're really looking for. You know, and ultimately helping us with those breakthrough solutions that we sometimes need in business. The second part, better problem solving. You know, teams with varied perspectives are going to challenge assumptions, ask better questions and reach stronger conclusions. The third point is around reach. You know, I mentioned this about reaching your customers, you know, and actually being able to understand those broader customer issues and different types of customer segments that you appeal to.

7:45Jeannette:You know, so diverse teams, they spot those unmet needs and connect authentically with those different communities that you serve. The fourth point, employee engagement and retention. Now, people stay in organizations where they feel seen, valued and safe. And inclusion, it creates that belonging, you know, which really does reduce turnover and, you know, boost that loyalty. You know, it's hard to actually attract talent into your business sometimes, and it can be even harder to retain that talent. But this is such a core part of people deciding, do they want to be part of your organization or not?

8:26Jeannette:Can they see another person that looks like them, that maybe comes from their social background, for example? Or is it actually that they would be the only person in the room that looks like them? So, you know, it's really important. And then the fifth point is about reputation and resilience. You know, inclusive companies attract not just talent, but investors, partners and customers who align with their values. So let's get your thoughts on this. Again, which of those advantages do you most want to strengthen in your business? Write it down. Is it innovation, problem solving, market reach, retention or reputation?

9:10Jeannette:let us know your thoughts because we want to have an open dialogue here and one of the things that we've done at Brave Bold Brilliant which we're incredibly proud of is that we've built a community a community of leaders business people people that want to strive for you know a better life for themselves their teams their businesses that really want to make an impact in the world so you know let us know your thoughts and then we can share and support each other on this incredible journey of life and business that we're on. So let's get into part three now. I told you there was going to be quite a lot, didn't I?

9:44Jeannette:Okay, so let's just share some real stories of inclusive leadership in action. Let's bring it to life because when we bring it to life, it helps us really imagine that future state or where we are currently. So, you know, a black female founder in the UK built her consultancy by hiring intentionally people from underrepresented backgrounds right clients loved it because her team reflected the very communities that they served you know and that representation it wasn't just get good ethics although of course it was it was a competitive advantage you know we've then got an example of you know global tech company creating cross-cultural project teams to tackle new markets you know instead of sending one head office perspective overseas they leveraged local insight and of course the result was that they were able to scale faster than competitors because they truly understood their customers you know and then we see in the fashion industry there's one particular brand that really has built an inclusive and diverse team not just in marketing but in leadership and design and their products have really resonated because they weren't pretending their inclusive inclusivity was actually woven into the dna of every decision that they made so you know i mean i can also think about great examples in the travel industry and if i think about easyjet airlines you know the the former ceo there was a good friend of mine johan lundgren and during his tenure and this has continued since with kenton jarvis who was a ceo and has now stepped up to become the ceo who again i know very well from my my my time at tui you know there was a real issue in aviation about no or very few female pilots easyjet consciously went out with a clear focus that they wanted to create opportunities and have more female pilots in their team and it took years it took years to do this they were going into schools having conversations with young girls saying hey did you know this could be a career choice for you and they have absolutely shifted the dial A great example where the sponsor was the CEO, right?

11:56Jeannette:He was passionate about it. Johan truly believed in it and he could see the business benefit and the benefit for every single aspect of the business and the communities and the clients they serve. What a step change that EasyJair Airlines managed to achieve. So chapeau to them. So that's another really great, real example that I have directly watched over the years. So let's just think about I'd love to hear from you again. Think about your own business. You know, ask yourself, how well does your team reflect the diversity of your customers? And this isn't to be, you know, to be hard on yourselves, but you have to hold a mirror up.

12:36Jeannette:You have to be able to see where you are, you know, interrogate the current reality. And then, of course, you can move forward from that. So don't shy away from these questions. Don't feel awkward about this. Be honest. You know, and if the answer is it's actually not very diverse, well, what's the one action you could take this quarter to change that? And let us know if you want some advice, then absolutely help us. so let's just move into some final sort of tips really about how you can go about building an inclusive team an inclusive business no matter how big or small your business is no matter what sector you're in this applies so here are some tips for you again write them down start with intentional leadership inclusion begins at the top remember i gave you that example of johan Lundgren, didn't I, of the CEO of EasyJet.

13:29Jeannette:And it was Johan that drove that gender diversity with female pilots in the organisation. And then his whole team were absolutely behind it, taking all those actions, all those little actions that made the big difference. You know, so leaders set the tone. What tone are you setting? And it's not just with words, words come cheap, but it's the actions that really make the difference, right? Secondly, audit your gaps. Look at your leadership hiring. Look at your partnerships, even suppliers. Where are voices missing for you, all right? The third point, make inclusion structural, not optional. You know, you need to create systems, processes, not just slogans.

14:12Jeannette:You know, inclusion should shape your hiring processes, you know, your promotion roadmaps. the daily operations that you have. Point number four, invest in diverse talent pipelines. Don't just hire from the same places. Build partnerships with communities and institutions that expand your reach. Again, remember I talked about EasyJet going into local schools. You know, their head office is based around Luton, but they have bases all over Europe. So they were going in and having those conversations at schools. Now, who would have thought an airline would be engaging with, you know a bunch of a bunch of schools well they did and that's that was a way they invested the time and effort to do that the fifth point celebrate and amplify amplify diverse voices so representation it shouldn't be about tokenism when it's authentic right make sure the people you bring in are empowered and not sidelined so a little reflection exercise for you of those five which step do you think would have the biggest impact in your business and your team if you implemented it today so you know and let us know drop it in in the chat so when it comes to inclusive inclusivity the mindset is important you know so as a ceo you've got to think differently haven't you so remember you know in your mind diversity is not charity it's strategy and then the second shift is inclusion isn't about lowering the bar it's about raising the ceiling of what's possible shift number three as a mindset point is listening isn't enough you have to act on what you here and shift number four the future leadership is inclusive leadership and those that resist will get left behind don't let that be you don't let that be your business so as I say we always want to hear from you so let us know what's the biggest barrier you're facing in making your business more inclusive you know have you actually seen where inclusion has driven better results for you we want to hear those success stories from you as well of course you know and what's the one action you're committing to this week to build inclusivity into your strategy so let us know your thoughts and as I say you know really if you have not connected with us on our Brave Bob Brilliant community you can find us all over social media check out Brave Bob Brilliant we've got our business pages there across Facebook and LinkedIn etc and Instagram also my personal profile is there so if you want to connect with me I would love to hear from you so you'll find Jeanette Linfoot with two N's and two T's everywhere on social media.

16:42Jeannette:And of course, our website, www.brave-bold-brilliant.com. That's where you're going to find in our learning hub, a whole bunch of free resources that you can access to. So just sign up to the community, and then you're going to get access to all that wonderful information and free stuff that you can actually put into place. And of course, you know, we have the podcast, don't we as well? brave bold brilliant it's in the top one and a half percent of all podcasts in the world you know we are in over i know gosh 560 episodes now it's incredible the people we speak to share their thoughts johan longren's been on there who i just mentioned the ceo of easyjet so yeah you know please do let's get connected uh let's help each other so just some final thoughts really from me before we close this up you know the smartest CEOs don't see diversity as a checkbox or a PR exercise they really see it as a growth engine and inclusive empires are more innovative they're more resilient more impactful and they don't just compete in today's markets they actually shape the markets of tomorrow you know so if you want your business to thrive in the long run you know don't just chase the revenue or replicate competitors build that inclusion into the dna of your company and that's really the foundation that means you become unshakable and much more robust so thank you ever so much for joining me today it's an absolute pleasure to be here if you like this episode let us know your perspective you know remember diversity is a business strategy not a slogan and of course we would love it if you would follow us on social media you would subscribe to the podcast and our YouTube channel because we can reach more people and share this share this with other people in your network that actually maybe they're grappling with some of this stuff and could benefit from a little bit of support and advice so as I say lovely to see you all and just remember you know it is by being brave and bold that you're going to unlock your brilliant have an amazing day and remember no limits to your growth but let's just embrace that diversity equity and inclusion that's where the magic truly happens I really hope you've enjoyed this episode of Brave Bold Brilliant remember check out our new website www.brave-bold-brilliant.com you're going to find loads of resources on there that's going to help you with your leadership journey and with the businesses that you're trying to scale up and grow so take care everyone and remember there are no limits to your growth but it is by being brave and bold that you're going to unlock your brilliant

19:20Thank you.