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Diversification...
Diversification in the workplace, or team, or the board room. Why is this important? What sort of diversification is needed?
If you took investments as your primary context, you would argue that diversification is to mitigate your risk, as by spreading your money across different types of investments, you can better survive a sudden loss in one particular area; be that stocks, property, bitcoin or banking.
If diversification is therefore about risk, what is the risk we could face in our teams, our business or our boardrooms? The risk of missed ideas, differing opinions, different lived experiences, or challenging views, beliefs and perhaps innovative solutions.
Homogeneous (anti-diverse) groups tend to share the same experiences, thinking, methods, and beliefs to come at a problem from the same lens. This doesn’t make it wrong, but it does make it less creative and therefore less likely to evolve (quickly).
When forming your group, build it with people that can offer you difference. Different perspectives and ideas through their different experiences and knowledge (cultures, industries, roles, genders) as well as energy diversity (different ages and personalities) and different ways of thinking (cognitive diversity).
Magic can happen when you put very different people together in a room to look at the same problem or idea. Coming at this from multiple different angles will give you a greater chance of finding innovation and progress. It will be less “risky” than not.
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Diversification...
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