Companies in the top quartile for racial and ethnic diversity are 35 percent more likely to have financial returns above their respective national industry medians.
Falsely equivocating spending on diversity programs to "donating to the KKK or literally setting cash on fire" is really telling.
This monthly discussion comes up on HN and it's already turning into a dumpster fire.
> Companies in the top quartile for racial and ethnic diversity are 35 percent more likely to have financial returns above their respective national industry medians.
I hope this is right.
But I keep seeing stats like that being thrown around and implying that the cause of those high financial returns are diversity when it is as likely that projections of high financial returns give you the money and time to focus more heavily on diversity. Both can also be symptoms of a common cause such as healthier management.
Right but it is instead likely the case that companies with ridiculous profitability are likely to have diversity programs. That’s the thing about statements like this, it’s just one interpretation of the data.
> Companies in the top quartile for racial and ethnic diversity are 35 percent more likely to have financial returns above their respective national industry medians.
Falsely equivocating correlation and causation is really telling.
And yet, somehow, there is zero correlation between hiring KKK members and organizational competitive success - hence the false equivocation.
Nobody said anything about causation, you raised that straw man yourself. If you'd look up the stat I quoted, you'd see McKinsey says the same thing:
>While correlation does not equal causation (greater gender and ethnic diversity in corporate leadership doesn’t automatically translate into more profit), the correlation does indicate that when companies commit themselves to diverse leadership, they are more successful.
Falsely equivocating spending on diversity programs to "donating to the KKK or literally setting cash on fire" is really telling.
This monthly discussion comes up on HN and it's already turning into a dumpster fire.