Diversity Design

Diversity is a business priority. Witness a truthful movement demanded by – and impacting – consumers actions. But how much of this movement is ‘diversity washing’ and rests just on the surface of business practice?

YouGov research revealed 83% of decision makers would feel comfortable challenging racial discrimination in their workplace but only 26% could name new steps to improve diversity and inclusion.

Financial businesses, as many others, have failed minorities for years by not offering sufficient access to opportunities and perpetuating inequality. Now the market is seeing a surge of new companies targeting diverse groups, offering essential space and opportunity.

Greenwood, a Black owned financial institution designed to retain wealth in Black and Latino communities, empowers with financial literacy content and investments in community owned businesses. Still Stateside, Daylight is a bank account made by and for the LGBT+ community. Designed for “different timelines, different kinds of families, different goals and different futures” rather than applying a rainbow to existing services.

Whether your business is designed for diversity or not, consider the impact these projects and actions might have. Take the 15 Percent Pledge movement which calls major retailers to commit at least 15% of their shelf to Black-owned businesses. Nubank, who is dedicating R$1 million to Brazilian startups founded by Black entrepreneurs.

The lesson is to create something with genuine impact on people's lives. Give space, voice and opportunities.

First: acknowledge and promote the diversity inside your company. Second: respect individualities, listen hard and learn. Third: provide a safe space for development and transformation.

New voices are a catalyst and influence in exciting times of change.