Accenture (No. 61 on Fortune’s 2019 list of the 100 Best Companies to Work For) has just published the new research report Getting to Equal: Does a Culture of Equality Drive Innovation? In short, Great Place to Work can affirm with a resounding “YES!!!”
According to Accenture, “Widespread disruption is here, and to remain viable, businesses need to respond to continual disruption with constant innovation. Last year our Getting to Equal study asked a critical question: What will it take to create a workplace culture where men and women are equal? Our results were encouraging and actionable: Leaders have the power to close the gender gap in career advancement and pay.” Accenture’s research shows that creating a workplace culture of equality enables everyone to advance and thrive.
The findings align with Great Place to Work’s research around Innovation By All, in which we spell out the ways that organizations can increase their innovation metabolism and financial success by opening doors to allow every employee to participate in the innovation process. After reviewing the data from more than 800 companies, we found that organizations with an Innovation By All culture have seen more than 5.5 times the year-over-year revenue growth of their less inclusive peers.
This year’s report from Accenture dives into how a culture of equality drives innovation. The results show a very strong correlation: a culture of equality empowers creativity, innovation and business success. “If we create a culture of equality where all people thrive, we find that everyone is innovating more,” the report states. “While all aspects of a culture of equality matter, the key to innovation is empowerment. When employees are empowered, they are free to be creative and motivated to innovate.” The report is based on quantitative research with 18,000 workers across nearly 30 countries and qualitative research with 150 C-level executives.
Great Place to Work has previously announced a goal of helping corporate America close the gender gap by 2020. In its report, Accenture says that it will achieve a gender balanced workforce by 2020, and that by 2030, women will account for 25 percent of managing directors worldwide.
Read Accenture’s full report here. To learn more about ways that your organization can measure employee engagement, as well as learn how to have your company be certified as a Great Place to Work, visit greatplacetowork.com/solutions/certification.