The benefits of diversity in business and competitive intelligence  

by | Jun 13, 2022

When launching HelloInfo, founders Tanya Humphrey and Nicolle McKinnon had several key foundational values they wanted to build the business on. One of these was clear – they wanted to create an organization that brings together a myriad of voices, backgrounds, and experiences, and they wanted to create a place that actively sought and welcomed individuals regardless of their ethnicity, race, sexual orientation, gender and gender identity, religion, ability, class, and age.

It was very clear to Tanya and Nicolle, based on their shared values, that creating a culture built on diversity and inclusion was vital to their own well-being, the well-being of the team, and the well-being of the organization.

Not only was this a way to feel good about the company culture they were creating, but they recognized there are benefits to the business overall. According to research from Deloitte, diverse companies enjoy higher employee engagement, and offer better customer service. BCG has found that companies with diverse management teams had a 19% increase in revenue compared to less diverse peers.

There are also a myriad of benefits for HelloInfo clients to receive work produced by a diverse team. Diversity in all forms assists in better decision making, research, and analysis. Including differing or dissenting voices and ideas forces others to question their assumptions and thinking. In competitive intelligence, these dissenting and differing views are critical to well-rounded research. These views create outputs for clients that are actionable and provide useful insights. According to the Harvard Business Review, groups that feature diverse backgrounds focus more on facts than homogenous ones. Diverse groups also make fewer factual errors based on available evidence. They are also more likely to remain objective when examining information while encouraging critique of other’s actions. 

Diversity also enhances innovation. McKinsey and Company have dug deeper into how diversity aids companies. They stated that not only does it inspire more innovation, but diverse groups also better anticipate shifts in consumer needs and consumption patterns, in turn giving diverse companies a competitive advantage.  As all the work HelloInfo produces is customized for its clients, the team needs to be innovative in its approaches to research – The diversity we have contributes to finding sources and what insights can be drawn from them.

How can HelloInfo help?

At HelloInfo we have a wide variety of knowledge, education, and life experiences across our colleagues and partners. This is one of many ways in which we can support your company in having an advantage over competitors. By promoting a diverse set of ideas and enabling everyone to have input, we read between the lines and think outside of the box. Schedule a call with us.


Keep reading…