According to an article published by HC, diversity will have a very strong impact on organisations, which will force leaders to develop new skills in order to manage in an inclusive way.

Diversity of markets

According to Deloitte, by 2050, 20 of the world’s 50 cities most highly ranked in terms of GDP will be collated in Asia.  In addition, Deloitte states that by 2030, we will find two thirds of the world’s middle class living in Asia.

Therefore, companies must make sure their senior leaders have the experience need to deal and make the right decisions in a diverse environment, which is quite a challenge considering the lack of real insight a large part of the western world has on Asia.

Diversity of ideas 

Several of the main trends that impact our world today, will continue to evolve. Phenomenon such as Globalisation, hyper-connectivity and digital innovation shall continue to make innovation a number one priority for the business world.

This situation demands expanding the debate and including different views and ideas on the issues under discussion. Two elements are key in this scenery: having the right connection to the community so they can challenge the ideas companies come up with; and having the right people within the company to broaden and delve during discussions.

Diversity of talent

Changes in demography will continue to reshape the workforce. This includes changes in education, migration, population age profiles and expectations of equal opportunities and work-life balance. But, it also includes changes in talent diversity.

Organizations’ success will depend on their ability to make the best of a diverse and scattered talent pool. And this means leaders will need to be highly inclusive in order to optimize the diversity of talent they will manage.

The six traits to achieve inclusive leadership are:

• Commitment
• Courage: to speak up, challenge others and the status quo.
• Cognizance: being self-aware and knowing that companies have unconscious biases.
• Curiosity
• Cultural intelligence: it is the ability of properly functioning in cross-cultural situations by understanding the real impact of culture on yourself and on others.
• Collaboration