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Posted Monday, September 28th, 2020

Higher Diversity Equals Higher Innovation Revenue

The Morris County Chamber of Commerce (MCCC) will host a virtual Workplace Diversity Summit on Wednesday, Sept. 30, 2-3 p.m. The event will be held as a Zoom call, is open to both members and nonmembers of the chamber and is free to attend. To register, please visit https://web.morrischamber.org/events/Workplace-Diversity-Summit-3234/register?entityDomainId=2&secure=True.

Morris Chamber Hosts Workplace Diversity Summit WednesdayThe call will feature a panel discussion with chief diversity officers discussing how to build and manage an inclusive workforce, including best practices, the advantages of a diverse workforce and a positive impact on company culture and business results.

Attendees will learn how diversity and inclusion drives economic growth and creates a competitive economy in a globalized world; captures a greater share of the consumer market; improves productivity and increases adaptability; and reduces prejudice, stereotyping and discrimination

Panelists will include moderator Tom Bergeron, editor, chief content officer and co-owner of ROI-NJ; and Armond Kinsey, vice president and chief diversity office at Atlantic Health System; Al Mitchell, vice president of corporate engagement at Bayer; and Ana Duarte McCarthy, director of development, corporate partners, Forte Foundation.

Research shows that diversity and inclusion brings measurable benefits to companies of all sizes, according to Meghan Hunscher, chamber president. She offered these statistics:

  • Companies with an impeccable diversity and inclusion record perform three times better than less diverse companies and also report financial returns up to 35 percent higher than national industry medians, according to multiple studies.
  • Companies with higher-than-average diversity had 19 percent higher innovation revenues, according to “Harvard Business Review.”
  • Nearly two-thirds of job candidates (64 percent) say diversity and inclusion is an important factor in their decision to accept a job offer, according to human resources services provider Sapling.
  • Millennials, who have surpassed Gen Xers in the workforce as the largest demographic, are particularly interested in working in a diverse culture. According to one study by Weber Shandwick, 47 percent of millennials actively look for inclusion and diversity when assessing potential employers.

“Diversity and inclusion in the workforce is not only the right thing to do, it brings real business benefits,” Hunscher said.

The Morris County Chamber of Commerce has more than 700 member organizations that range from entrepreneurs and small businesses to large corporations and Fortune 500 companies. The chamber’s mission is to collaboratively advance the interests of its members to champion a thriving business and community environment. The chamber’s many events, meetings and seminars provide a platform for its members to connect, collaborate, learn and succeed. The chamber is dedicated to the advancement of Morris County’s businesses and community by providing services, information and advocacy to support the success of its member organizations. They are headquartered in Florham Park.