We’ve all heard the numbers about spending power and how the changing demographics in the United States have had a tremendous impact on how brands and businesses shift their models. As the lead agency of the award-winning 2010 U.S. Census campaign, partners in the creation of the New America microsite with Adweek and a founding member of the Cross Cultural Marketing and Communications Association, FCB is keenly aware of the seismic shifts related to race, age, ethnicity, geography, income and other key areas that are now redefining the marketplace. With $10-15 trillion dollars up for grabs globally, brands and businesses like ours are trying to figure out how to adjust their operations to best reach an increasingly more diverse market. Marketers and the agencies that boost their standing in the marketplace have to understand the total market to communicate authentically and effectively.
To do that, we need to bridge the talent gap that still remains in our industry. A recent study by The University of Michigan revealed that diverse teams exhibit a higher level of creativity and a broader thought process that better delivers for their companies and the brands that they steward. Companies that leverage diverse employee ideas and have more diverse workforces and inclusive cultures perform better. In fact, according to The Institute for Entrepreneurial Thinking, companies with the highest rates of racial diversity brought in nearly 15 times more sales revenue on average than those with the lowest levels.
At FCB, we’re committed to building an inclusive culture. Our Worldwide CEO Carter Murray is fiercely committed to having a diverse and inclusive workforce across all disciplines. Having support at the top is mission critical to creating an inclusive culture.