Diversity Provides Significant Benefits to PACIV And Its Customers
Since the company was founded in 1997, PACIV has strived to create a diverse workforce. It did so believing that it’s both the ethical and smart thing to do. The results have been impressive – PACIV has created a workforce with significant levels of diversity from gender, ethnicity and nationality perspectives. In addition, PACIV and its customers have benefited financially as a result.
Striving to increase workplace diversity is a good business decision. A 2015 McKinsey report found that those in the top quartile for ethnic and racial diversity in management were 35% more likely to have financial returns above their industry mean, and those in the top quartile for gender diversity were 15% more likely to have returns above the industry mean.
PACIV’s workforce is currently 30% female which is substantially above the 19% of females typically working in engineering in the US and Europe (source: UNESCO Science Report – towards 2030). In addition, 12 different nationalities are represented among PACIV’s engineers including Puerto Rico, USA, Ireland, Egypt, India, Cuba, Dominican Republic, Brazil, Colombia, Argentina, Poland and England.
Diversity also increases innovation. A study published in ‘Innovation: Management, Policy & Practice’ found that upon analyzing results from 4,277 companies in Spain, companies with more women were more likely to introduce radical new innovations into the market over a two-year period. Another study published in ‘Economic Geography’ found that businesses run by culturally diverse teams were more likely to develop new products than those with homogenous leadership.
A recent project provides a good example of the benefits of diversity to PACIV and its customers. PACIV recently completed a manufacturing facility project for a US customer in Algeria for one if its customers there. The project required a project team with deep technical knowledge in automation, fabrication, commissioning, qualification and fluent Arabic language skills. PACIV was able to provide a skilled project team at short notice from its own workforce to work on the project in the US and Algeria resulting in the project being successfully completed within budget and schedule.
PACIV has recognized that a diverse workforce helps to make it more successful and provides significant benefits to its customers. Contact us today if you’re interested in learning how PACIV’s diversity can benefit you too.
Did you find this article interesting? Would you like to be updated when we post the next one?
Sign up for our mailing list by clicking here, and stay up to date with the latest news and articles on the Industry.
Brendan Hyland, Business Development Manager/Director at PACIV Ireland is an experienced Business Development Manager with over twenty (20) years’ experience in the disciplines of process engineering (Design and Implementation) for chemical plants, business development of customer solutions, and development and implementation of marketing strategies. Brendan has significant experience consulting with engineers, technology partners & clients to provide optimum solutions.
LinkedIn: Brendan Hyland