The article on the fabulous work and impressive success of John Rogers Jr. ’80 and Mellody Hobson ’91 provided a stunning example of what Princetonians can do to make their communities, countries, and world a better place.
By illustrating their success in promoting diversity and inclusion in all aspects of their business and charitable work, Rogers and Hobson set a high standard for all of us.
While PAW described those efforts in superb detail, it failed to highlight one fact both Rogers and Hobson know — studies by companies such as McKinsey, Deloitte, or the Boston Consulting Group consistently show diversity and inclusion are profitable. American capitalists know having a board of directors, executive leadership, and a workforce that has diversity in experience, knowledge, expertise, and opinion creates more options and leads to more profitable outcomes.
It’s important to emphasize that Rogers and Hobson’s promotion of diversity is not simply an act of charity; rather, it’s also a sophisticated financial strategy that harnesses wasted talent in a manner that “increases the size of the pie” so everyone comes out ahead.