Misguided and culturally insensitive blunders such as the racially insensitive Pepsi commercial with Kendall Jenner, Google’s disgruntled engineer intensifying male tech industry bias, the egregious casting decision in the movie Ghost in the Shell with whites playing Asians, and the complexity of L’Oréal firing a transgender black woman after her comments about race—all of these highlight the need for companies to incorporate diversity into their conversations at work.

A recent financial study of 1,000 large companies by McKinsey & Co. found that the more diverse the management, the higher the profits, compared with companies composed of less diversity. Companies in the top 25% with the most ethnic executives outperformed other firms with profits 33% higher than those in the bottom 25% with fewer ethnic workers. Firms more inclusive of women in management showed 21% more revenue than those with fewer women in executive roles.