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Diversity Works: The Diversity Bonus--How Great Teams Pay Off in the Knowledge Economy

Professor Scott E. Page
Wednesday, April 18, 2018 -
4:30pm to 6:00pm
Tresidder Oak Lounge

 

 

 

Join our Diversity Works discussion with Scott E. Pageprofessor of complex systems, political science, and economics, the University of Michigan – Ann Arbor

How universities, businesses and other organizations can improve their  performance by tapping the power of  differences in how people think. 
What if workforce diversity is more than simply the right  thing to do in order to make society more integrated  and just? What if  diversity can also improve the  performance of universities, the impact of nonprofits, and the bottom line of businesses or any other organization facing  complex challenges in the knowledge economy? It can. 

In this talk, Professor Scott E. Page, author of The  Diversity Bonus, discusses the how and why, and he does so using models and data.

  •  “When team members think differently…their  collective performance includes a diversity bonus, an extra amount. That bonus  is a  quantifiable, measurable value add…Diversity bonuses challenge narrow  “meritocratic” thinking. Diversity bonuses mean that the  best team will not, as  a rule, consist of the best performing individuals. The best team will include  diverse thinkers.
  • Bonuses  happen for a reason…you  must identify the tasks where diversity bonuses will exist, you must create  space and opportunity  for people to contribute, you must reduce biases in hiring and recruiting, you must adopt policies and protocols that enable  diversity  bonuses, and, most important, you must practice.” (“Scott  E. Page on The Diversity Bonus,” Princeton University Press Blog)

Scott Page, the Leonid Hurwicz Collegiate Professor of Complex Systems, Political Science, and Economics at the University of Michigan and an external faculty member of the Santa Fe Institute, is a leading thinker, writer, and speaker whose ideas and advice are sought after by corporations, nonprofits, universities, and governments around the world, makes a clear and compellingly pragmatic case for diversity and inclusion. He presents overwhelming evidence that teams that include different kinds of thinkers outperform homogenous groups on complex tasks, producing what he calls “diversity bonuses.” These bonuses include improved problem solving, increased innovation, and more accurate predictions—all of which lead to better performance and results. Drawing on research in economics, psychology, computer science, and many other fields,  The Diversity Bonus  also tells the stories of people and organizations that have tapped the power of diversity to solve complex problems. The result changes the way we think about diversity in the workplace—and far beyond it. 

 

 

Diversity creates bonuses. It’s not just a nice thing to do.

 

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