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Articles

The Financial Services Industry’s Untapped Market

The Financial Services Industry’s Untapped Market

What is the cost to an industry that misses the lessons of leadership diversity and ignores inclusive behaviors? In the case of the financial services industry, the penalty could be more than $5 trillion in the U.S. alone. Earlier research from the Center for Talent Innovation (CTI) proved the logical link between innovation and diversity—that gaining market share and expanding into new markets hinges on two key elements: An inherently diverse workforce that, because it “matches the market,” is better attuned to the unmet needs of potential consumers and consequently is better able to create appropriate solutions; and leaders who appreciate the advantages conferred by a diverse workforce, actively endorse the ideas their diverse teams propose, and promote a cadre of managers who also embody inclusive behaviors.

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