The Competitive Advantage of Diversity and Inclusion in the Workplace

May 1, 2024

Employee resource groups create cultures that value and celebrate differences, leading to more dynamic and successful work environments.

Diversity and inclusion are essential for any organization's success. At Wabtec, we focus on diversity and inclusion programs, including employee resource groups (ERGs), to gain a competitive edge in the markets we serve. Our ERGs have experienced significant growth, with a 248% increase in membership over four years, from 819 members in 2020 to 2,854 members in 2023. These members are in 40 countries and embody our company's value of "Embrace Diversity" by being passionate advocates for inclusivity. 

Research shows that diverse teams correlate with profitability and innovation. The 2023 McKinsey Diversity Equity Inclusion Lighthouses Report reveals that companies with diverse teams are 35% more likely to outperform competitors in profitability. Gender-diverse executive teams have a 39% chance of outperforming competitors, up from 15%. Diverse leadership teams have higher financial returns, and ethnic diversity contributes to a 39% increased likelihood of outperformance. Advocating for transformative change in organizations is crucial to making diversity matter more.

Joining any ERG can empower you to drive social impact within your local communities through volunteer activities. Each of Wabtec’s ERGs promotes diversity, innovation, inclusivity, and community engagement, and significantly enhances our corporate culture. ERGs play a vital role in shaping the future of work by ensuring that workplaces reflect the richness of our global society. At Wabtec, our ERGs support allyship, external engagement, leadership connection, and community building. If you want to be part of an organization that values diversity and inclusivity, and empowers its employees to make a difference, we encourage you to consider finding your next opportunity at Wabtec, and then join one of our seven ERGs.

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