Without diversity, business and society is unable to deliver on its true potential. Research has confirmed that diversity drives business and social performance, but only when underpinned by inclusion and engagement. However these pre-requisites for diversity depend on careful leadership. While some leaders are proficient in harnessing diversity, research confirms that most leaders require development and nurturing to be effective in this role.
In KAY Diversity & Performance BV we are dedicated to fostering diversity in profit and non-profit companies, so as to unleash talent, creativity and potential within businesses and their leaders so as to better serve their customers and deliver improved performance outcomes.
Diversity and inclusion is a way of being
Diversity is not a program or project, it is the fundamental way in which a business expresses itself internally and externally. Diversity is inherent in the values of a company and in the beliefs of leaders. Diversity is entrenched in the very structure of the company. Diversity is reflected in daily actions and in every day communication, internally and externally. Diversity is rewarded and celebrated.
Diversity and inclusion has key anchors
Kay Diversity & Performance is specialized in addressing your key diversity questions and providing fact-based direction
- What constitutes diversity?
- How does diversity impact company performance?
- What are the cornerstones of a robust diversity and inclusion program focused on business results?
- What diversity levers result in jump improvement in diversity performance?
- What are the developments around diversity and performance globally, and best practices for your company?
Leadership is fundamental to diversity performance
Diversity performance is directly impacted by leadership commitment to diversity , expressed by the manner in which the company CEO, leadership team and direct reports are directly engaged around diversity performance. Does the CEO have responsibility for diversity performance? Is the quest for diversity enshrined in the company values? Have diversity performance goals been set and is performance monitored and celebrated?
Leadership requires development and nurturing
We work with you to equip your leaders to be effective diversity leaders. We develop and deliver various Diversity Leadership Development Programs which unveil the link of diversity to performance and the key enablers and distractors to diversity performance. Unconscious Bias workshops and training is delivered to executive and mid-level leadership to reduce biases which undermine diversity performance.
Most leaders understand the need for diversity and wish to contribute to diversity performance. Yet leaders face individual and team obstacles which hamper diversity performance.
Through 1-1 and team coaching interventions, leaders and their teams have the opportunity to reflect and evaluate on how their view of the world and their own biases impede diversity performance. We work with certified coaches, with focus on diversity performance.
Research and Publications
In the last 20 years there has been a wealth of research to examine the link of diversity to performance, and to quantify the impact to performance across diversity levers. KAY Diversity and Performance is focused on driving further insights in this domain and collaborates with companies to facilitate this research.
Our clients are privvy to a monthly review of the latest research results and important new publications around diversity and best pratices. We also work directly with our clients who wish to evaluate current state of diversity and the impact to their diversity performance goals.
Selection of Publications
Is there a payoff from top-team diversity?
The authors looked at the executive board composition, returns on equity (ROE), and margins on earnings before interest and taxes (EBIT) of 180 publicly traded companies in France, Germany, the United Kingdom, and the United States over the period from 2008 to 2010. The authors found that companies with more diverse top teams were also top financial performers.
What is the impact of work group diversity on performance in the Mutual Fund Industry?
This paper investigates the impact of work group diversity on performance. Analyzing a uniquely large sample of management teams from the U.S. mutual fund industry the authors find that the influence of diversity on performance depends on the dimension of diversity that is analysed. While diversity in tenure and educational diversity of fund management team members is positively related to performance, gender diversity is negatively related to performance. Age diversity has no strong impact. The results have important implications for the optimal composition of work groups and for investment strategies of fund investors.
DIVERSITY & INCLUSION CONSULTING SERVICES
Consulting support and advice around diversity and performance. This includes an evaluation of the current state of diversity and performance in the company, the design & enhancement of a holistic diversity and performance program incorporating the 5 anchors (Values, Leadership, Structure, Communication, Celebration), the instigation of performance measures to measure the achievement of diversity and performance across a number of dimensions and providing change management and integration support.
EXECUTIVE BOARD AND BOARD MEMBER COACHING
1-1 Board Member and Executive Board Group Coaching around how to be effective and inspirational leaders of diversity, leading from the front, setting the values and example to others. Through the coaching sessions, insights around ones own unconscious biases and how they impede diversity are explored.
DIVERSITY LEADERSHIP DEVELOPMENT
Leadership development and training is developed and delivered to senior leadership and/or middle management around diversity. Key Themes are explored, including “How to untap Diversity in your Company”, “How to reflect your customer base through your workforce”, “How Performance Drives Better Performance Outcomes”, “How to Lead and Celebrate Diversity from the Front”.
RESEARCH AND PUBLICATIONS
Independent research around diversity and performance and also in collaboration with specific clients and cross-industry clients, around the topic of Diversity and Performance.
GUEST SPEAKER EVENTS
Guest speaker events by Kay Formanek at Company Diversity Functions, Women’s Day Events, Congresses etc. Kay Formanek is a regular and inspiring presentor and makes use of the latest research findings and case studies to underpin the topic at hand.
EXECUTIVE INTERIM FUNCTIONS
Interim Executive Functions in the area of Change Management, Diversity Management and Program Leadership/Sponsorship are fulfilled on an interim or semi-permanent (retainer) basis.
Kay Formanek - Founder and Chief Executive Officer
Kay is founder and CEO of Kay Diversity & Performance. For more than 25 years Kay has partnered with profit and non-profit organisations to shape their diversity programs and drive performance outcomes. Her roots are in South Africa where she was exposed to the societal and business impact of retarding diversity and studied the manner in which diversity can be unleashed to drive recovery. As managing director in one of the most significant global consulting and outsourcing companies, Kay worked internationally in emerging and mature markets with clients seeking to better service their clients and stimulate improved performance. Kay conducts research on diversity and performance, has collaborated on books on diversity, is a much sought out speaker on the subject, offers executive coaching to Executive Board and leaders, shapes leadership development programs, and works with leadership to develop and implement diversity and inclusion programs which are focused on realizing improved business performance.
KAY Diversity & Performance is comprised of a global network of associates and research institutions, all with significant experience in the domains of diversity and inclusion, executive coaching, leadership development and research. Most of the associates have more than 20 plus years of experience and are united by a passion for diversity, research based approach and international experience.