DOING DIVERSITY: A NEED FOR COLLECTIVE EFFORT

WE RACE AS ONE.

It’s difficult to come to terms with this statement. It was performative then, and when I think about the fact that it never really went beyond a few kneeling moments and some Instagram posts before fading into obscurity, it becomes an even tougher pill to swallow.

The lack of diversity in Formula 1 continues to be an issue, and one need not look far to see it. Today, as soon as the topic of diversity comes up, you can almost immediately spot subtle eyerolling, deep sighs, forced smiles, and the ever-annoying pseudo-boffin frothing at the mouth with terrible arguments about why diversity isn’t a real concern. I have to say, the latter is my favourite chew toy.

Anyway, the truth is that diversity in Formula 1 needs to be addressed, not just by F1 itself, but through a genuine, collective effort from and with the many brands that have made the sport their playground. The presence of global brands with on-ground operations in far more countries than Formula 1 reaches should mean there’s plenty of knowledge to share, knowledge that could help steer the sport in the right direction.

We often hear musings about brand values. But what exactly are those values if creating space for the very diverse range of people who buy their products isn’t a key concern? How are brands encouraging Formula 1 and other sports to embrace real diversity, whether in race, gender or otherwise? And more importantly, how are brands helping these institutions like Formula 1 learn to be more diverse? Shouldn't this be one of the important pillars of any commercial or brand partnership?

Let’s even set aside the brand conscience angle for a moment and look at something more basic: most brands have continuously demonstrated that they don’t understand diversity as a strategy for commercial success; clutch your invisible pearls if you must - the facts speak for themselves. Diversity as a strategy for commercial success is better than no diversity at all. We're all in the business of chasing commercial success and these considerations are not a favour, they're a necessity.

There is a cost to a lack of diversity, both commercially and otherwise. To put this into perspective, it doesn’t matter if an organisation is making a billion dollars, if a strategic oversight on the strong commercial potential of a well-executed diversity strategy causes them to miss out on making a billion more, they’re simply operating inefficiently.

Beyond logo splashes and fancy trackside posts on LinkedIn and Instagram from the pit lane and paddock club, brand leaders need to play their part in helping F1 become truly diverse in order to see even greater ROI from their presence in the sport.

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If you're a professional interested in learning more about Diversity as a strategy for commercial success, feel free to reach out for a conversation.