Is it better to have “up-and-comers” or “more seasoned” employees making decisions at your company?
It turns out the best answer is a mix of generations, and it’s a wake-up call to companies everywhere, from a tech industry enamored of young workers to global enterprises managing large aging workforces:
Executives sixty years ago could expect their companies to last a lifetime. Executives today will see half of the S&P 500 disappear in the next decade. The business world is in a digital churn of creative destruction. As McKinsey calls it, we are in the Age of Urgency.
The decision cycle sets the speed limit for your business. Companies with decisive cultures will thrive. The rest will fade away.
Every day there are more headlines about the challenges of workforce diversity. A focus on diversity often means a focus on hiring, and even with substantial investments of time and money, it takes years to turn the tide for companies with thousands of employees.
Get the high points of our new research with this infographic, then go deeper into the surprising results and concrete recommendations with our free white paper Hacking Diversity With Inclusive Decision Making.
We studied 588 real business decisions made by 184 teams in a wide variety of companies over 2 years. Here is what we learned:
Decision making drives 95% of business performance.* It's the most important thing managers and executives do at work.
Teams make better decisions than individuals 66% of the time. Teams bring broader perspective, identify new choices, reduce bias and improve accountability.
Diverse teams make better decisions 87% of the time. Inclusion instantly activates existing gender, age and geographic diversity for better business decision making.
Diversity can increase friction 15%, but inclusion boosts results 60%. The worst combination is an all-male team deciding what a diverse group executes. This happens half the time in companies with fewer than 30% women. The best combination is inclusive decision making and diverse execution.
Learn more at www.cloverpop.com/diversity.
Corporate leaders, diversity experts and authors, and Silicon Valley entrepreneurs today expressed their support for the findings uncovered by Cloverpop’s new study revealing the impact of inclusive decision making on business performance. The new research, published today, found that gender diverse business teams make 25 percent better decisions than all male teams, with this advantage increasing by up to 50 percent when a wide range of ages and geographic diversity are added to team compositions.
Cloverpop today published research that reveals how inclusive decision making allows companies, especially tech companies, to use diversity to improve business performance. The study -- lauded by experts and executives -- was based on 566 business decisions made by 184 different business teams in a wide variety of companies over two years. The research found that gender diverse business teams make 25 percent better decisions than all male teams, with this advantage increasing by up to 50 percent when a wide range of ages and geographic diversity are added to team compositions. A free white paper describing the study and resulting recommendations can be downloaded today. A free webinar will be held on Tuesday, September 26, at 11 a.m. PT / 2 p.m. ET.
Leadership and management are largely about judgment and decisiveness, so it’s no surprise a Bain & Company study found that decision making drives 95% of business performance.
What gets measured gets managed, and what gets managed gets better, so it’s no wonder the decision-making process in most companies is slow, frustrating and stuck in the past. And since decision making is much of what managers and executives do, it’s no wonder our calendars are crammed with ineffective meetings and our inboxes are flooded with 100s of burning emails.
Four Cloverpop studies show that decision making has three times greater impact on business results than goal setting. The studies included a project researching New Year's resolutions with Stanford Graduate School of Business researchers. Overall, the research found that 89 percent follow through on decisions while only 30 percent follow through on goals and resolutions.
No one thought Trump was going to win. Near the end, not even Trump himself seemed to think he would win. Yet win he did. And yesterday the decision makers of the electoral college set it in stone.
It's no wonder this CIO.com article is so popular...who doesn't want to make better decisions? As the article says:
