As Construction Inclusion Week wraps, one CEO says some companies may overlook the importance of diversity, but the business case for it is compelling.

Jim Fowler is CEO of Novo Construction, a minority business enterprise and commercial contractor based in Menlo Park, California. Opinions are the author’s own.

The construction industry is a cornerstone of the American economy, shaping the nation’s physical environment. Yet, it significantly lags in diversity, equity and inclusion.

Although some in the construction industry may overlook the significance of DEI, the business case is compelling. A 2020 McKinsey study highlighted that companies with diverse workforces are 35% more likely to financially outperform the national industry average. This is because diverse and inclusive companies excel in serving their workforce, communities and customers.

I’ve seen this truth firsthand. As the CEO of NOVO Construction — a certified minority business enterprise — I’ve leveraged my experiences as a first-generation Chinese-American to embed diversity into our company’s DNA. 

Many merely pay lip service to inclusion. However, at NOVO, we point to it as a key driver of our growth. We started as a three-person team just as the dot-com bubble burst in March 2000. Today, we’re proud to employ over 300 individuals. 

I truly believe the decision to pursue diversity among our leadership team, collaborate with community organizations that support DEI and champion diverse subcontractors are core reasons we now rank among the top construction firms in the greater Bay Area and the largest interior tenant improvement contractor.

Find out more: Construction Dive