Can a more gender balanced workforce improve ad revenue? Back in 2016, HP instructed its advertising partners to increase their creative department diversity quotients. 18 months later, the results were impressive:
Forbes reports that “the company’s top five roster agencies demonstrated a 20-point jump in women working on HP account teams”. Fast-forward to earlier this year, and HP data that looked at 53 of its global campaigns revealed a six-point increase in purchase intent from the pre-ultimatum period, and analysis from Nielsen showed an increase in revenue per impression of one-third.
HP’s triumph underscores the fact that increasing diversity is more than a moral imperative — it’s good business sense.