Studies have found that companies with a commitment to diversity, equity and inclusion (DEI) across the enterprise are more successful than those without. Why is there still a question regarding the value of DEI? If the goal of business is to perform, i.e., generate more revenue, raise share price, have a greater profit than last year, then having a commitment to diversity should no longer be an option. It should be as much an imperative as a strong balance sheet or growing EBITDA.
According to a 2020 report from McKinsey & Co., Diversity Wins: How Inclusion Matters, “companies in the top quartile for gender diversity on executive teams were 25% more likely to have above-average profitability than companies in the fourth quartile…A substantial differential likelihood of outperformance — 48% — separates the most from the least gender-diverse companies. In the case of ethnic and cultural diversity, our business-case findings are equally compelling: in 2019, top-quartile companies outperformed those in the fourth one by 36% in profitability…the likelihood of outperformance continues to be higher for diversity in ethnicity than for gender.”
One of the leaders in the DE&I biotech space has been Gilead, the parent company of Kite, which launched a robust, action-oriented DE&I initiative in 2019. Gilead and Kite have made concerted efforts to improve workplace culture for underrepresented groups; they currently have programs focused on advancing black leadership, developing diverse talent, building diversity representation goals, establishing pay equity, and working with its partners on DE&I efforts.
IndyGeneUS AI and the Blockchain-Secured Genomic Data Marketplace IndyGeneUS AI, which is harnessing the power of data mining and artificial intelligence to expedite the development and manufacturing of targeted therapeutics, [….]
TEDCO, Maryland’s economic engine for technology companies, announced today its Builder Fund invested $100,000 in The Black Brain Trust, a DEI technology start-up based in Maryland. TEDCO’s Builder Fund invests in and provides executive support to Maryland-based technology companies run by entrepreneurs who demonstrate economic disadvantage.
Johnson & Johnson hopes to bridge health insurance divide with its Health Equity Innovation Challenge. The challenge aims to support potential innovative solutions from local entrepreneurs, innovators and local community-based organizations.
Dr. Kayla Valdes is a Senior Manager at Horizon Therapeutics, a biopharmaceutical company focused on researching, developing, and commercializing medicines that address critical needs for people impacted by rare diseases. Prior to joining Horizon, Dr. Valdes worked at the National Institutes of Health as a Senior Program Manager on the Cure Sickle Cell Initiative. She was also the Associate Director of Scientific Programs at the Drug Information Association (DIA), where she developed DIA’s global content strategy by providing scientific expertise in therapeutic drug development and regulatory policy.
BioBuzz is built on community. For Pride Month we reached out to several friends old and new asking them to share their story. Read on to learn about each of these people and their unique LGBTQIA+ experience. We appreciate their time and willingness to contribute.
What You’ll Learn
How to enter and move between academia, biotech and big pharma
Tips for advancing your career internally, even in the most competitive environments
How to discover your zone of genius and things to consider when trying to identify your next career move
Your personal brand, why it matters, and how to get noticed
The culture of the industry, including progress made in diversity, equity, and inclusion but also challenges of working in an industry that lacks leadership diversity. We have a candid conversation on the barriers to leadership and how to make progress toward a truly inclusive and equitable industry.
One of the key contributors to building a great career is surrounding yourself with great mentors and a good network or community of professionals you can go to for help. While talking to BioBuzz and understanding their community efforts, I thought it might be a good time to share what aspects of a good community make up its foundation.
As some are now calling it, the greater Philadelphia region, or ‘Cellecon Valley, is garnering a lot of attention these days as a rapidly emerging Biopharma cluster, earning a defining spot among the top 10 clusters in the US.