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Companies are investing in diversity, but many workers don't reap the benefits

January 23, 2019 / Valerie Bolden-Barrett

About 98% of companies have a diversity program, but only a quarter of workers in diverse groups – women, people of color and people who identify as LGBTQ – aren't confirming any benefits from these programs, according to a new Boston Consulting Group (BCG) report, Fixing the Flawed Approach to Diversity. BCG identified men, age 45 or older who typically are the major decision-makers in corporations, as one main obstacle to diversity progress. These leaders underestimate the barriers in recruiting, retaining and advancing women and minority employees, which can result in the misallocation of resources and a lack of investment for better results, BCG said. The 16,500 employees surveyed in the report outlined the diversity initiatives they considered to be the most effective, but that weren't currently the priority of leadership – what the research called "hidden gems" for employers to implement. Such strategies included: visible role models, pare...