Why Supporting Underrepresented Leaders is Crucial: Insights from Mellody Hobson

The world is changing, and so should our attitudes toward diversity and inclusion in the workplace. Companies must actively support underrepresented leaders if they want to remain relevant and competitive in the 21st century. This means more than simply paying lip service to diversity; it means actively seeking out and supporting leaders from diverse backgrounds and creating an environment where they can thrive.

One of the most compelling arguments for why companies should support underrepresented leaders comes from Mellody Hobson, the co-CEO of Ariel Investments and a prominent advocate for diversity in the workplace. In a TED Talk on the subject, Hobson spoke about the need for companies to take variety seriously, not only for the sake of fairness but also for their survival:

"Companies that don't embrace diversity and don't take it seriously will be less competitive, less relevant, and ultimately, less successful. [...] We live in a global economy. We live in a world that is getting smaller by the day. We need diversity to be competitive in this world."

Hobson's point is critical: companies that fail to embrace diversity miss out on a significant talent pool. According to a 2020 report from McKinsey & Company, companies in the top quartile for ethnic and cultural diversity in their executive teams are 36% more likely to have above-average profitability than those in the bottom quartile. In other words, diversity isn't just a moral imperative; it's also good for business.

Another reason why it's time for companies to support underrepresented leaders is that it's simply the right thing to do. Women and people of color have been historically underrepresented in leadership positions, particularly in specific industries, such as tech and finance. By actively seeking out and supporting underrepresented leaders, companies can help to level the playing field and create a more equitable workplace for everyone.

But supporting underrepresented leaders isn't just about hiring them and giving them a seat at the table; it's also about creating an environment where they can thrive. This means providing them with the support and resources they need to succeed, such as mentorship programs, leadership development opportunities, and a culture that values diversity and inclusion.

Hobson said in her TED Talk, "It's not just about being invited to the party. It's about being asked to dance, being allowed to dance, and then being expected to dance." In other words, it's not enough to bring underrepresented leaders into the workplace; companies also need to support and develop them actively.

In conclusion, it's time for companies to support underrepresented leaders. Doing so is not only good for business, but it's also the right thing to do. By creating a more diverse and inclusive workplace, companies can tap into a broader talent pool and help create a more equitable society. As Hobson said, "Diversity is not a feel-good issue. It's not a politically correct issue. It is a business issue."