
Driving Change With Diversity
For manufacturers, embracing diversity can unlock new levels of innovation, productivity, and profitability.
Historically, manufacturing has lacked inclusivity, and even today, it lags behind other industries in adopting a more diverse workforce. This slow transition is not just a missed moral opportunity but also a missed business opportunity.
The numbers tell a stark story. According to our recent benchmarking reports at Harbour Results, women, for example, make up just 10% of management roles in tooling and 22% in production. Their overall representation in the manufacturing workforce is similarly low, with only 8% in tooling and 21% in production.
For Black, Indigenous, and People of Color (BIPOC) workers, the situation is equally concerning. BIPOC individuals are nearly absent from management positions in both tooling and production, and their representation in the workforce stands at just 5% in tooling and 28% in production.
These statistics highlight the significant gap that manufacturers must close to build truly representative workplaces. The good news? Diverse workplaces offer substantial benefits—not just to employees but to the companies themselves.
Diversity in the workplace is more than just a box to check; it's a strategic advantage. Here are three key reasons why workforce diversity is essential for manufacturers:
Creating a diverse workforce doesn't happen overnight. It requires intentional effort and a commitment to change. Here are some steps manufacturers can take to foster diversity:
Workforce diversity isn't just a moral imperative; it's a business necessity. For manufacturers, embracing diversity can unlock new levels of innovation, productivity, and profitability. By taking intentional steps to diversify their teams, manufacturers can not only strengthen their organizations but also contribute to a more equitable and inclusive industry. The journey may be challenging, but the rewards for businesses and society are well worth the effort.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Yahoo
4 hours ago
- Yahoo
'Why Should I Invest If I'm Just Gonna Die?' — Dave Ramsey Viewer Insists He's Giving Bad Advice But Cites Bogus Stats That Men Don't Live Past 72
Saving for retirement is a long game — and for decades, Dave Ramsey has told his audience that building wealth doesn't require massive income, just consistent effort. But when one caller threw that entire mindset into question, Ramsey didn't just correct the math — he unleashed a full-on lecture. In a video clip titled "Why Should I Invest If I'm Just Going To Die?" posted to his official YouTube channel, a listener named Isaiah challenged Ramsey's popular claim that $100 invested monthly could grow into millions over time. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Maximize saving for your retirement and cut down on taxes: . "You keep saying to invest $100 a month beginning at age 30 and you'll be worth $5 million at 70 years old," Isaiah said. "That's the most ridiculous thing I've ever heard, because the life expectancy of a white male is 72 and for a Black male it's 68." Ramsey fired back: "We have never said $100 a month from 30 to 70 is $5 million. It's $1,176,000. All of your numbers are wrong." He cited data from the National Vital Statistics System showing that as of 2023, the average life expectancy for men in the U.S. was nearly 76. But more importantly, he pointed out that once someone reaches age 65, the average life span stretches another 18 years. "That's into your 80s," he said. "So no, you don't just die before you enjoy your money." But it wasn't just the math that set Ramsey off — it was the mindset. "At the core of your belligerency," Ramsey said, "is the idea that somehow you're supposed to get rich in 10 minutes, or that you're entitled to something." Trending: Invest where it hurts — and help millions heal:. He pushed back hard on Isaiah's claim that his background or race had anything to do with financial limits. "Color of skin hasn't got anything to do with your ability to build wealth," Ramsey said. "You're not a victim of anything but your bad thinking." Then came the now-infamous rant: "Roll up your sleeves, live on less than you make, get out of debt, deny yourself a little bit of pleasure... and quit smoking so much pot. Seriously." Ramsey called the caller's view "hopelessness," and accused him of spreading discouragement to others who could be working toward financial independence. "You're a hope stealer," he said. "And that pisses me off. Because I spend my life giving people hope." By the end of the clip, Ramsey reminded listeners that 89% of America's millionaires are first-generation wealthy. "If you plant $100, you'll get this. If you plant $1,000, you'll get 10 times as much," he said. "Most of you waste $100 driving past Starbucks."Ramsey's closing argument? "This is the best economy in the history of mankind for the little man to get ahead. If you don't do it, that's not on life. That's on you." Not everyone may agree with Ramsey's delivery, or his assumptions about longevity, race, or motivation. And sure — life doesn't come with guarantees. You might not live to 88, and a $100 monthly investment won't magically turn you into a millionaire overnight. But the bigger question is: What's the alternative? If you don't save out of fear you'll never make it to retirement, what happens if you do? Ramsey's point may be harsh, but it's hard to argue with the logic: hoping you'll be dead before you need your money isn't a financial plan. And if you're wrong — that could cost you a lot more than $100 a month. Read Next: Can you guess how many retire with a $5,000,000 nest egg? . Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article 'Why Should I Invest If I'm Just Gonna Die?' — Dave Ramsey Viewer Insists He's Giving Bad Advice But Cites Bogus Stats That Men Don't Live Past 72 originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


Business of Fashion
11 hours ago
- Business of Fashion
This Week: Are Tariff Price Hikes Finally Here?
What's Happening: On Wednesday, the US Bureau of Labor Statistics will release inflation data for May, the first inflation reading taken entirely after Trump's tariffs went into effect. In April, consumer prices rose 2.3 percent, just under the economists' consensus. Delayed Impact: Forecasters are calling for a mild uptick in prices, if that. Many fashion and beauty brands have announced price increases, often to be implemented on select products over the summer rather than right away. This gives consumers a bit of time to acclimate to their new, more expensive reality. And it builds in room to change course on the off chance Trump calls the whole trade war off in the meantime. Rock and a Hard Place: This strategic approach to price increases is savvy, but for many brands also borne out of a lack of options. After raising prices so much in the post-pandemic years, companies are worried they'll lose customers by hiking further, even if they have a good reason. Questioning Reality: Whether consumers believe prices are rising can have a big impact on inflation, so all those early warnings from brands may become a self-fulfilling prophecy even if Trump doesn't announce a single new tariff. There are also growing questions about the numbers themselves. Last week, economists raised questions in the financial press about whether inflation data could still be trusted, noting hiring freezes and layoffs had curtailed the government's ability to conduct its massive monthly survey of consumer prices. What to Expect at The Business of Beauty Global Forum 2025 What's Happening: On June 9 and 10, The Business of Beauty holds its third annual gathering in Napa Valley. A second class of entrepreneurs will also receive The Business of Beauty Global Awards. In the News: Speakers include Hailey Rhode Bieber, fresh off her $1 billion deal. Tracee Ellis Ross will share her observations on the needs of the Black and texturised hair community at a time when DEI is under siege. Global Perspective: Founders from international brands including Beauty of Joseon, Ultra Violette, Byoma and Nykaa will address challenges and opportunities in the global beauty market. Attorney Lindsay Toczylowski will speak on her efforts to help her client, Andry José Hernández Romero, the Venezuelan makeup artist currently detained in an El Salvador prison. See for Yourself: If you won't be in Napa Valley, catch these speakers and more on the livestream. The Week Ahead wants to hear from you! Send tips, suggestions, complaints and compliments to


Los Angeles Times
13 hours ago
- Los Angeles Times
Tennis great Stan Smith on life lessons, Arthur Ashe's legacy and his namesake shoes
Fancy footwork won him Wimbledon. Simple footwear won him everything since. 'The shoe has had a life of its own,' said Stan Smith, 78, whose eponymous Adidas kicks, with their timeless lines and leather uppers, are the king of all tennis sneakers with more than 100 million sold. 'People from all walks of life have embraced them.' Not surprisingly, Smith has a head for business to match his feet for tennis. With that in mind, he and longtime business partner Gary Niebur wrote the just-released 'Winning Trust: How to Create Moments that Matter,' aimed at helping businesses develop stronger relationships with their clients, with tips that readers can apply to their personal relationships and to sports. 'The book is about developing relationships that can elevate the element of trust, which is a depreciating asset in today's world,' Smith said this week in a call from the French Open. When it comes to building and maintaining high-stakes relationships, Smith and Niebur have distilled their process into five key elements they call SERVE, a recurring theme throughout the book. That's an acronym for Strategize, Engage, Recreate, Volley and Elevate. For instance, recreate — as in recreation — means to build bonds through fun shared experiences, and volley means to trade ideas back and forth to find solutions. 'When people realize that you care more about the relationship than the transaction,' Niebur said, 'trust follows.' A onetime standout at Pasadena High and USC, Smith was a close friend of the late Arthur Ashe, the UCLA legend whose name graces the main stadium court at Flushing Meadows, N.Y., home of the U.S. Open. This year marks the 50th anniversary of Ashe's victory at Wimbledon, when he beat the heavily favored Jimmy Connors in the 1975 final. Ashe remains the only Black man to win the singles title at that storied tournament. 'Arthur was a good friend,' Smith said. 'He made a huge impact, and much more of an impact in the last few years of his life when he was fighting AIDS and the heart fund, and obviously for equal rights.' Ashe, who contracted HIV from a blood transfusion he received during heart-bypass surgery, died in 1993. Although he was four years older than Smith, the two developed a close friendship when they traveled the globe as Davis Cup teammates and rising professionals. Smith has vivid memories of traveling with him, Ashe in his 'Citizen of the World' T-shirt with his nose forever buried in a newspaper or magazine. Smith was ranked No. 1 in the U.S. at the time, two spots ahead of his pal, yet the wildly popular Ashe always got top billing. 'When we went to Africa, I was the other guy who played against him in all these exhibitions,' Smith told The Times in 2018. 'They would introduce him as Arthur Ashe, No. 1 player in the U.S., No. 1 in the world, one of the greatest players to ever play the game … and Stan Smith, his opponent.' Smith laughs about that now, but it used to chafe him. Finally, he raised the issue with his buddy. Recalled Smith in that 2018 interview: 'Arthur came up to me and said, 'I'm sorry about that. If we do a tour of Alabama, I'll carry your rackets for you.' He was in tune with everything. 'Arthur was a quiet leader walking a tightrope between a traditionally white sport and the black community.' Smith will be at Wimbledon next month, where his UCLA friend will be honored. As for his shoes, they're everywhere, and have been since the 1970s. Adidas originally developed the shoe for French player Robert Haillet in the mid-1960s, and the sneakers were known as the 'Haillet.' In 1972, the company switched to Smith, naming the shoes in his honor and printing a tiny picture of his mustachioed face on them. There were subtle changes to the Haillet, including a notch in the tongue for laces to pass through and a heel better shaped to protect the Achilles tendon. They sold like crazy. In 1988, Stan Smiths made the 'Guinness Book of World Records' for the most pairs sold at 22 million. Yet that was only the beginning as sales surged with the release of the Stan Smith II and retro Stan Smith 80s. The most common ones were solid white with touch of green on the back. 'Hugh Grant turned around last year in the [Wimbledon] royal box and said, `First girl I ever kissed, I was wearing your shoes,'' Smith told The Times in 2022. 'Another guy said he met this girl when he was wearing my shoes. It was so meaningful that they both wore the shoes for their wedding seven years later. 'It started off as a tennis shoe. Now it's a fashion shoe.' Smith's personal collection has climbed to more than 100 size 13s in all sorts of colors, including his favorite pair in cardinal and black, an homage to his USC roots. In 2022, to commemorate the 50th anniversary of Smith's Wimbledon singles title, Adidas gave all of its sponsored players a pair of shoes with SW19 on the tongue — Wimbledon's postcode — with the date of that match against Ilie Nastase inside the right shoe and the score of the match inside the left. At Wimbledon this year, the spotlight swings to the other side of Los Angeles, to an unforgettable Bruin, a sports hero who impacted so many lives. For Smith, his friendship with Ashe was an early example in his career of a relationship forged with trust. The book, incidentally, is affixed with a unique and fitting page marker. A shoelace.