Diversity dividend

Analysis

Westpac Diversity Dividend Report

Australia’s $10.8 billion diversity opportunity

Diversity is a feature – and a strength – of Australian society. But the makeup of Australian organisations still doesn't mirror the broader population. In this report for Westpac, Deloitte Access Economics has measured the benefits of diversity, with a particular focus on gender diversity, on business outcomes and the Australian economy.

Westpac has engaged Deloitte Access Economics to produce a report to explore and measure the benefits of diversity, with a particular focus on gender diversity, on business outcomes and the Australian economy. It is based on primary research and data analysis, as well as a review of relevant literature.

This report demonstrates the business and economic benefits of gender diversity, supported by a new survey of over 1,000 business leaders across states and industries, fresh analysis of company financial data and information collected by the Workplace Gender Equality Agency (WGEA), and a range of other sources.

By looking at the benefits of diversity at manager levels, rather than focusing on boards and CEOs, this Westpac Women in Leadership report broadens the conversation about the importance of women in leadership.

By better understanding the financial benefits of investing in diversity and overcoming misconceptions and biases, more businesses could have more gender diversity in their workforces. But this is only the beginning of the journey. To fully access these benefits, we need to move beyond tokenism and headcount measures of diversity, and continue to make our workplaces more inclusive, so that everyone’s opinions and contributions are respected, valued, and encouraged.

Published: October 2017

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