Unleashing Innovation: The Power of the Magic Third in Diverse Teams

The episode delves into the concept of the Law of the Magic Third, which posits that when one-third of a team has diverse perspectives, transformative outcomes can occur. Through discussions of real-world examples, such as Borderless, the importance of true inclusion and its strategic advantages are emphasized, leaving listeners with actionable insights on improving their team dynamics.

• Exploring the Magic Third concept for team diversity
• Understanding the implications of real-world diversity
• True inclusion versus mere representation
• Strategic advantages of diverse teams during challenges
• Case study on Borderless and its commitment to diversity
• Encouragement for listeners to cultivate inclusive environments

Transcript

Speaker 1 0:00

Hey everyone and welcome back . Have you ever wondered if there's like a magic number when it comes to making teams really diverse ?

Speaker 2 0:06

A magic number .

Speaker 1 0:07

Yeah , you know , not just like checking a box , but actually getting to a point where different perspectives really make a difference .

Speaker 2 0:13

Hmm , interesting .

Speaker 1 0:14

Well , we're gonna try to find out . Today we're diving deep into some excerpts from this document we found on diversity and inclusion .

Speaker 2 0:20

Okay .

Speaker 1 0:21

And it talks about this really cool idea called the Law of the Magic .

Speaker 2 0:24

Third , oh , that sounds intriguing .

Speaker 1 0:26

So our mission today is to figure out just how this magic is supposed to work .

Speaker 2 0:30

Okay , I'm game , let's do it .

Speaker 1 0:32

Okay , so right off the bat , this Law of the Magic Third basically says that once a third of a team has diverse perspectives , things start to change for the better .

Speaker 2 0:39

Right , and it's not just like a superficial change .

Speaker 1 0:41

No .

Speaker 2 0:42

It's like this tipping point where things like inclusion and even employee well-being get a boost .

Speaker 1 0:47

Hmm , okay , so how does that actually work in the real world ?

Speaker 2 0:50

Well , think about it . When you have a team where a significant portion , like a third , brings different experiences and viewpoints to the table , it forces everyone to step outside their usual way of thinking . Makes sense , suddenly , the majority has to actually engage with those different opinions .

Speaker 1 1:06

Right .

Speaker 2 1:07

It leads to way more robust discussions and , ultimately , more innovative and effective solutions .

Speaker 1 1:13

Okay , I get that , but couldn't you just hit that one third mark without actually having real inclusion ?

Speaker 2 1:18

Oh , absolutely , that's a really important point .

Speaker 1 1:20

Like just checking a box .

Speaker 2 1:21

Exactly . Just having diverse faces in the room isn't enough .

Speaker 1 1:25

Yeah .

Speaker 2 1:25

You have to cultivate a culture where those perspectives are not just heard but valued .

Speaker 1 1:30

Right .

Speaker 2 1:31

And integrated into how the team actually works .

Speaker 1 1:33

I like that you said integrated , because it makes me think about how this all ties into the crazy business world we're living in oh yeah , for sure Like everything's changing so rapidly ?

Speaker 2 1:43

Constantly .

Speaker 1 1:44

Companies have to adapt quickly or they'll get left behind .

Speaker 2 1:47

You hit the nail on the head , and that's where this magic third idea becomes less about like a feel good initiative and more about a strategic business advantage .

Speaker 1 1:55

Oh , I like that .

Speaker 2 1:56

It's about survival .

Speaker 1 1:58

Seriously .

Speaker 2 1:58

Because , think about it , the world is more complex and interconnected than ever before .

Speaker 1 2:02

Definitely more complex .

Speaker 2 2:03

Businesses are facing constant disruptions and uncertainty . So , a team with a diverse range of experiences and viewpoints , they're able to navigate this volatility with more resilience , more agility .

Speaker 1 2:14

Agility . I love that word .

Speaker 2 2:15

They're more adaptable and better at creative problem solving .

Speaker 1 2:18

So it sounds like diversity becomes a superpower in a way it really does , but here's the thing that's kind of confusing .

Speaker 2 2:24

What's that ?

Speaker 1 2:24

becomes a superpower . In a way it really does . But here's the thing that's kind of confusing . What's that ? We're actually seeing some companies scaling back on diversity initiatives , especially when times are tough .

Speaker 2 2:30

Oh yeah , and that seems counterintuitive , right Totally . It's like trying to sail through a storm . But you've decided to take down half your sales . It makes no sense . Right Downplaying diversity when things get tough is like missing out on a huge opportunity , because it's about harnessing the full potential of your team , especially when you're facing challenges . Makes sense and actually the document we're looking at today . It highlights a company that's doing this really well , a company called Borderless .

Speaker 1 2:53

Oh yeah .

Speaker 2 2:53

Borderless . They're a perfect example of how this magic can work in the real world .

Speaker 1 2:57

Borderless . They're an executive search firm , right Yep .

Speaker 2 2:59

They specialize in helping companies find top level executives .

Speaker 1 3:03

OK , got it .

Speaker 2 3:04

But what's really fascinating about Borderless is their commitment to diversity , not just in the executives they recruit , but within their own team as well .

Speaker 1 3:12

OK , so they practice what they preach .

Speaker 2 3:14

Exactly and get this . Their team is only 15 people .

Speaker 1 3:17

That's pretty small .

Speaker 2 3:18

But those 15 people represent 18 different nationalities .

Speaker 1 3:21

Wow , 18 nationalities . That's incredible .

Speaker 2 3:24

Right , so you can imagine the wealth of unique experiences and perspectives they bring to the table .

Speaker 1 3:28

It's like a mini United Nanes .

Speaker 2 3:30

And think about what that means for their work .

Speaker 1 3:32

Okay .

Speaker 2 3:32

Yeah , it translates into a huge range of cultural , linguistic and sector-specific knowledge .

Speaker 1 3:39

Right .

Speaker 2 3:39

And they use this diversity to create a truly customized and collaborative approach to executive search .

Speaker 1 3:45

So it's not just a cookie cutter approach .

Speaker 2 3:47

Not at all . They tailor their strategies to each client's unique needs and goals . Wow and here's the really cool part they actually help their clients achieve that crucial . One third diversity on their own leadership team .

Speaker 1 3:58

So borderless is like walking the walk and helping other companies do the same .

Speaker 2 4:02

Exactly , it's a ripple effect of positive change .

Speaker 1 4:05

Love that .

Speaker 2 4:06

So Borderless is a living , breathing example of the law of the magic . Third in action .

Speaker 1 4:10

They're proving that diversity is not just the right thing to do , but also a smart business strategy . Totally agree . So , for everyone listening , let's bring this back to you . Okay , think about your own teams or the groups you're a part of . Where do you see the potential for this magic ? Third , to make a difference .

Speaker 2 4:25

Even if you're not in a leadership role , think about how you can contribute to a more inclusive environment where everyone feels valued and respected .

Speaker 1 4:33

Because ultimately , embracing diverse perspectives isn't just ethical . It's also the smart thing to do . Thanks for joining us on this deep dive into the fascinating world of diversity and inclusion .

Speaker 2 4:44

Thanks for having me . It was a great conversation .

Speaker 1 4:46

See you next time .

Speaker 2 4:47

See ya Chi-ti-ate .