“How are we addressing that? What are agencies bringing to the table to help address that, and what are brands doing to figure out how they can continue to foster and grow great talent, but also retain that talent?”
Laying the groundwork
In her time at the helm of Underdog, West and her team worked with organizations including the USTA, Athletes Unlimited, the Jackie Robinson Foundation, Major League Soccer, Pokatok Festival and TelevisaUnivision. Underdog helped these groups tell their stories in ways that are relevant to the specific audiences they’re trying to reach. Underdog has attempted to lead by example, West explained, using a diverse team to offer a varied perspective.
But she has concerns about what such efforts will looks like in the near future. Citing the Supreme Court’s recent ruling striking down affirmative action initiatives at colleges, West noted that the downstream effects will make it even harder to create more inclusive workplaces and diverse leadership groups—making investments like NewSpring’s acquisition of Underdog increasingly important.
“It’s saying that diverse agencies—groups that have intentionally built diversity as part of their DNA—are not just nice to have in the market, [they’re] a necessity in the market,” West said.
According to a 2020 report by McKinsey, companies with the most gender-diverse leadership teams were 25% more likely to have above average profitability than their least diverse counterparts. For the most ethnically diverse firms, it’s a 36% edge. A 2018 report from Gartner found that a highly diverse workforce is 30% more productive than a more homogenous group.
But an inclusive workforce can’t simply be snapped into existence. West notes that the intentional hiring and acquisition that builds diverse companies is “not the fastest path,” but it is the most realistic. Harvard Business Review noted that 60% of companies had DEI plans in place, but only 23% have goals attached that would improve leadership representation by gender. Just 16% have similar goals for representation by race.
“There’s the intention,” West said, “but then there’s the actual tactical approach and how is that showing up day-to-day in your business and helping you get to the long-term goal?”
What inclusion looks like
In light of the affirmative action ruling, West suggested companies should not only commit to inclusion, but become more intentional about it.