COVID-19: Impact & Response

We would argue that companies pulling back on I&D now may be placing themselves at a disadvantage: they could not only face a backlash from customers and talent now but also, down the line, fail to better position themselves for growth and renewal.

Research has repeatedly shown that gender and ethnic diversity, inclusion, and performance go hand in hand. The benefits of inclusion and diversity are clear now—and that doesn’t change in a crisis.

Diversity winners that deploy a systematic approach to inclusion and diversity and don’t fear bold action to foster inclusion and belonging are most likely to reap the rewards. Now is the time to be even bolder.​

Diverse teams are more innovative—stronger at anticipating shifts in consumer needs and consumption patterns that make new products and services possible, potentially generating a competitive edge.

Strategic agility—the ability to spot and seize game changers—is likely to be a mission-critical trait. It is also likely to be stronger in organizations that can draw on the full spectrum of diverse talent available to them.

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When companies invest in diversity and inclusion, they are in a better position to create more adaptive, effective teams and more likely to recognize diversity as a competitive advantage.

Minority-owned small businesses are more optimistic and more likely to offer support to their local community.

The crisis could disproportionately affect minority-owned small businesses for two critical reasons: they tend to face underlying issues that make it harder to run and scale successfully, and they are more likely to be concentrated in the industries most immediately affected by the pandemic.

Research has found that black small-business owners were significantly more likely to be asked to provide more information about their personal financials—when applying for small-business loans than white small-business owners were.

The share of minority-owned small businesses and minority employment is highest in the industries most directly affected by COVID-19.

Despite being more optimistic about the recovery of the economy as a whole, minority-owned small businesses appear to be more concerned about the impact the pandemic will have on their own businesses

Expanded access to funding, incentivizing lending, accelerate receivables from government or large corporate customers, procurement commitments from government organizations and the private sector, access to technology

Decision makers in the private, public, and social sectors should treat the COVID-19 pandemic as an impetus to address the many structural challenges facing these businesses.

Moving from wartime to peacetime in health care

Navigating the government response

Reimagining retail

Reviving consumer and packaging

Steering the future of airlines and advanced industries

Leading the recovery in financial services

Adapting private equity to the new reality

Take a stand on purpose

Reimagine value creation

Get intentional about your culture

Move beyond a ‘hierarchy of bosses'

Turbocharge decision making

Treat talent as your scarcest resource

How can leaders accelerate their companies’ journeys toward becoming not only faster but also better for customers, employees, and society at large?