Many major companies, like Amazon, Google, Walmart, and Meta, are scaling back their Diversity, Equity & Inclusion (DE&I) initiatives, with as many as 1 in 20 scrapping them completely[1].
With shifting sentiments and growing controversy around DE&I in general, Savannah is more determined than ever to identify, engage with, and present the broadest possible range of relevant candidates, every time. Using innovative technology to support the team’s ingenuity and an evolved approach are fundamental to our next generation approach to leadership acquisition.
The evidence for the positive impact of diversity – gender and more broadly – continues to grow. Earlier this week, Management Today referenced research from MSCI that has identified a correlation between female representation on boards and the financial performance of a company. McKinsey’s latest report on the links between diversity and performance: “Diversity Matters Even More” (2023) indicated that companies in the top quartile for gender diversity on executive teams were 39% more likely to outperform on profitability, and those in the top quartile for ethnic diversity had a 39% increased likelihood of outperformance. What’s more, there are multiple extensive studies demonstrating links between proactive DE&I initiatives and DE&I progress. McKinsey & LeanIn.Org “Women in the Workplace” (2023) found that without DE&I initiatives, the growth rate of women in leadership positions is minimal: a 1%–2% annual increase in the representation of women in senior roles. Harvard Business Review’s 2019 research “When Gender Diversity Makes Firms More Productive” also found that organisations without formal DE&I policies had less than a 3% increase in female representation in leadership over a decade. McKinsey & LeanIn.Org’s found that comparatively, companies with strong DE&I efforts saw a 5%–7% annual increase.
Yet, despite this mounting evidence and years of effort and measurable progress, according to recent reports, the proportion of women in senior executive roles and ethnic diversity at senior levels has plateaued, and in some industries, is even declining. Meanwhile, the backlash against DE&I – sometimes subtle, sometimes explicit – is real, forcing organisations to ask hard questions about their commitment to diversity and inclusion.
So, as we approach International Women’s Day 2025, we find ourselves at a crucial juncture. Do we celebrate the progress made, or do we take stock of where we stand and acknowledge that there is still a long way to go?
At Savannah, we choose to do both. We recognise the incredible strides that have been made, but we also remain focused on the work that still needs to be done. Diversity, equity and inclusion are not a passing trend; they are essential drivers of business success, innovation, and resilience. Companies that fail to embrace this reality risk being left behind, not just in the talent market but in overall performance.
This is why we take a data-enhanced approach to executive search. Our next generation process and systems ensure we think and go beyond in our research. We don’t just talk about diversity – we prioritise it, always, helping our clients create leadership teams that reflect the world we live in today and the future we are building.
This IWD, our commitment is to keep going. With less emphasis on messages of support and more on taking action. We will continue to evolve our approach to identifying, evaluating and supporting candidates to bring our clients creative, diverse options. While progress may be slowing in some quarters, here at Savannah, we are doubling down.
[1] A survey by Resume.org revealed that 5% of companies have completely eliminated their DEI programs
To find out how we can help your organisation with diverse hiring please contact us
