The ROI of Diversity
Diversity and inclusion aren’t just moral goals; they’re revenue levers and public service musts. Companies with diverse leadership teams innovate faster and achieve higher returns. Public agencies produce better policies and have increased community trust. A McKinsey study showed companies in the top quartile of diversity efforts were 36% more likely to outperform their peers in profitability, and those with gender-diverse leadership had a 25% higher likelihood of above-average profitability. BCG ties diverse workforces to 19% higher revenue due to increased innovation. Study after study asserts that investment in diversity provides high ROIs. In government, inclusion strengthens operations and trust. A 2022 report by the Partnership for Public Service and Deloitte showed that federal agencies with higher inclusivity and engagement scores had stronger workforce performance, better retention, and more effective service delivery. When institutions mirror their communities, they craft fairer policies, enhance public trust, and make better product and service decisions. Diversity is broader than gender and race: it spans military status, age, education, religion, physical and cognitive abilities, language, parental status, and socioeconomic background—differences that fuel diversity of thought. In parking and mobility, this looks like alternate and phone payments, pay-by-cell, Accessible Pedestrian Signals, multilingual signage, citation payment plans, video hearings, and reduced fees for veterans. Talent markets demand this. Glassdoor finds 76% of candidates value a diverse workforce. Deloitte links inclusion to 2.3 times higher cash flow per employee, greater change-readiness, and lower attrition. The takeaway is clear. Diversity is a revenue driver, risk mitigator, and competitive edge, and embracing it is simply smart business. Click here to read the Parking & Mobility magazine article. Madison Huemmer is the Head of Market Transformation for ParkMobile by Arrive. Madison can be reached at madison.huemmer@arrive.com.