Diversity: The Best Business Companies Fail to Fully Understand

Sometimes it seems like talking about diversity and inclusion in companies is like repeating a lesson everyone already knows, but that few actually apply. Although most companies boast about having DEI (diversity, equity, and inclusion) policies, the truth is that only a few have understood the true value this has for their business. The rest continue to view these topics as a "nice to have," not a real advantage.

That's a mistake because it's not a matter of pretty speeches but of profitability. Companies that have implemented real diversity practices have better financial results and are also able to adapt more quickly to market changes, attract more talent, and build purpose-driven brands. Coincidence? Not at all.

The data supports this. Organizations with diverse teams tend to make better decisions because there are more points of view, more ideas, and less siloed thinking. A diverse workforce also better reflects society, and this allows for authentic connections with consumers. Today, customers look for brands they identify with, brands that represent the world as it is, not a standardized version that excludes by age, gender, or background.

However, the current situation has not been very helpful. In some countries, hate speech and attacks on companies for their inclusive campaigns have led to setbacks. Cases like Target, which faced boycotts for including LGBTQ+-themed products in its Pride Month collection, demonstrate this.

After receiving criticism and threats from conservative groups, the company opted to remove some items and move the display to less visible areas in several stores. Instead of firmly supporting its message of inclusion, it ended up caving in to the pressure and was criticized by both detractors and the LGBTQ+ community.

Ultimately, this is a greater risk because when brands abandon their commitment to inclusion for fear of "what people will say," they lose credibility. And if there's one thing that today's consumers are punished for, it's inconsistency. Diversity is not a fad, it's a business strategy; a long-term vision that drives growth, talent, and innovation.

In Latin America, we are still far from achieving true equality. But there are positive signs. More and more companies are integrating DEI indicators into their ESG (environmental, social, and corporate governance) reports. There are more and more diversity committees on boards of directors. And more and more leaders understand that this is not a human resources issue, but rather a corporate culture issue.

If we truly want to make progress, we must stop viewing diversity as a quota. It's not about checking boxes to look good on a report, but about making space for talent to flourish in all its forms. A team that thinks differently, creates differently. And a team that feels seen, works better.

It's also necessary to start from the bottom up. We can't talk about inclusion and diversity in senior management if biases are present from the very first recruitment process. Reviewing processes, training decision-makers, and listening to employees who experience diversity firsthand is necessary to build something lasting.

The future of work will demand more humane, more empathetic, and more open companies and brands. And here, diversity will be at the heart of business. Those who don't understand this today will be left behind tomorrow.