Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


The Diversity Advantage

Speech Secretary to the Treasury: The Diversity Advantage

This afternoon the Treasury’s Secretary and Chief Executive Gabriel Makhlouf spoke to a group of business leaders at the Trans-Tasman Business Circle in Wellington, on how diversity of thinking offers a performance advantage. Below is the introduction to the speech, and a link to the full script on the Treasury website.

When we first started talking about diversity at the Treasury, someone suggested that deliberately starting to look for, and employing, different types of people was like asking the All Blacks to select a couple of badminton players. That's absurd of course, but it highlights a silent misgiving many people have when the subject of diversity is raised. In a survey by business magazine Forbes, 41% of executives identified the ‘failure to perceive the connection between diversity and business drivers’ as a barrier to developing and implementing a diversity strategy. In the absence of a business case, people don’t see the point. Or worse, they see diversity as compromising performance.

The reality is quite the opposite. Diversity doesn’t compromise performance. It’s a performance advantage. In particular, it’s the key to a strong team, and this is the idea at the heart of what I want to talk about today. Diversity - especially diversity of thinking - is essential to a world-beating team, and a world-class public service.

Where the goal of a rugby team is to manufacture tries to win a game, the Treasury, and the wider state sector, is like a team that manufactures ideas to solve policy problems. Like a good sports team needs diverse skills, we need diverse perspectives to produce the best ideas we can. We also need diversity of experience to make sure the ideas we come up with are practical, and so we can see them through from conception to implementation.

Today I want to talk about why diversity of thinking matters more than ever for New Zealand, why unconscious bias can get in the way, and what we’re doing at the Treasury to challenge our thinking in new ways.

To read more go to:

http://www.treasury.govt.nz/publications/media-speeches/speeches/diversityadvantage

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Fruitful Endeavours: Kiwifruit Exports Reach Record Levels

In June 2016, kiwifruit exports rose $105 million (47 percent) from June 2015 to reach $331 million, Statistics New Zealand said today. Overall, goods exports rose $109 million (2.6 percent) in June 2016 (to $4.3 billion). More>>

ALSO:

Economic Update: RBNZ Says Rate Cut Seems Likely

The Reserve Bank will likely cut interest rates further as a persistently strong kiwi dollar makes it difficult for the bank to meet its inflation target, it said. The local currency fell. More>>

ALSO:

House Price Action Plan: RBNZ Signals National Lending Restrictions

The central bank wants to cap bank lending to property investors with a deposit of less than 40 percent at 5 percent and restore the 10 percent limit for owner-occupiers wanting to take out a mortgage with a deposit of less than 20 percent, according to a consultation paper released today. More>>

ALSO:

Sparks Fly: Gordon Campbell On China Steel Dumping Allegations

No doubt, officials on the China desk at MFAT have prided themselves on fashioning a niche position for New Zealand right in between the US and China – and leveraging off both of them! Well, as the Aussies would say, of MFAT: tell ‘em they’re dreaming. More>>

ALSO:

Loan Sharks: Finance Companies Found Guilty Of Breaching Fair Trading Act

Finance companies Budget Loans and Evolution Finance, run by former 1980s corporate high-flyer Allan Hawkins, have been found guilty of 106 charges of breaching the Fair Trading Act for misleading 21 borrowers while enforcing loan contracts. More>>

ALSO:

Post Panama Papers: Govt To Adopt Shewan's Foreign Trust Recommendations

The government will adopt all of the recommendations from former PwC chairman John Shewan to increase disclosure and introduce a register for foreign trusts with new legislation to be introduced next month. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news