The Michigan Bioscience Industry Association in Ann Arbor has announced the creation of the MichBio Diversity Network, which is focused on empowering the future bio-workforce.
“The network is a rebranding of our Women of MichBio group that has been focused on supporting and empowering women in the bio-industry through events and information targeted at the unique needs of women in the bio-sciences,” says Stephen Rapundalo, President and CEO of MichBio. “The group felt that the change was important to ensure that we are and continue to be focused on diversity and inclusion as a whole as opposed to limiting that effort to the needs of women.”
In an industry the network says is defined by its ability to innovate, solve problems, and change lives, workforce diversity and multiple perspectives are essential to success. According to a “Why Diversity Matters” report by McKinsey and Co. there is a direct link between gender diversity and financial success.
Also, a Forbes Insights 2018 survey of more than 320 executives says that a diverse workforce drives innovation and creativity and creates an environment conducive to recruiting top talent.
“Any way you look at it, a more diverse workforce is a more successful workforce,” says Randel Richner, president of Richner Consultants and chair of the Diversity Network steering committee. “I have witnessed the growing call for diverse perspectives in all levels of the bio-industry.
“Women are an increasingly powerful voice within the industry and VC relationship, there was an entire conference on promoting LGBTQ populations in the agri-business sector, and if you look at the demographics of young researchers, you find an increasing number of foreign-born and non-white people.”
MichBio is a trade association that works to drive growth in Michigan’s biosciences industry and its many sectors.