Innovation has become the new currency of success, and research suggests that your ability to innovate is related to the diversity of your workforce.
In the midst of the discourse on how to leverage technology to find new ways to innovate in the rapidly evolving digital age, companies must not lose sight of the human factor.
That is according to PwC’s 20th CEO Survey that interviewed almost 1,400 CEOs from approximately 80 countries, including 33 business leaders in Singapore.
While the survey found that “the combination of man and machine can generate more value than either alone”, it also revealed that an overwhelming 94 per cent of Singapore business leaders are finding that the biggest challenge lies in recruiting people with skills in creativity and innovation. The solution, according to 91 per cent of the surveyed CEOs, is to promote talent diversity and inclusion. Recruiting people from diverse cultural backgrounds allows companies to populate teams with a wide range of skillsets, perspectives and experiences that all work together to drive innovative thinking.
Karen Loon, Singapore and Asia Pacific Diversity Leader at PwC, shares how the firm builds a diverse talent pool that drives innovation in a global business environment.