Barriers to Diversity in Film – A Research Review – Aug 07

2006). More research on the link between diversity and financial
performance needs to be undertaken, for example, the diversity of
actors and production teams to box office returns. However, these
studies are never conclusive as suggested above, since a range of
factors may contribute to better financial performance and it is
difficult to argue that diversity alone causes an increase or decrease.
6.3.5 Organisational effectiveness and maximising talent
The demographic changes outlined above provide the most pressing
reasons to change recruitment and retention practices. The need to
grow talent from all possible avenues within an organisation has never
been so essential. Companies that do not maximise the potential from
everyone will increasingly run the risk of underperforming. The
development of under-represented groups of staff and managers will
cut costs on recruitment. Staff turnover can be expensive for
organisations.
Some research studies support good retention practices. Good people
management that is fair leads to greater productivity and greater
employee commitment (Patterson, West Lawthorn and Nickell 1997).
Social inclusion increases profitability and leads to financial savings
(Patterson, West Lawthorn and Nickell 1997). Heterogeneous top
teams (age, function, education) showed greater innovation and were
more receptive to diversity of ideas and using diverse information
sources. They also showed better sales performance (Iles and Havers).
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