SIMPLE EVALUATION PROCESS with High impact findings:
Online questionnaire for each team member (10 minutes)
Detailed reporting with clear recommendations and actions
Online questionnaire for each team member (10 minutes)
Live debrief and development session
Detailed reporting with clear recommendations and actions
Online questionnaire for each team member (10 minutes)
Detailed reporting with clear recommendations and actions
Detailed reporting with clear recommendations and actions
Detailed reporting with clear recommendations and actions
DEVELOPMENT AND VALIDATION
Researching and defining the factors
Developing questions that represent the factors
Developing questions that represent the factors
COGNITIVE DIVERSITY POTENTIAL
The 2025 Inclusion in Finance (formerly the Diversity Project) study by Professor Alex Edmans: Cognitive Diversity in Asset Management, found that a wide range of factors such as skills and expertise to life background and thinking styles can contribute to cognitive diversity.
Research was undertaken to understand and clearly define the 8 factors behind cognitive diversity potential that are not simply related to skills and expertise.
COGNITIVE DIVERSITY CULTURE
A literature review identified three interrelated factors that support different thinking to be shared, and effective decision-making in the presence of cognitive diversity potential to be realized:
- Appropriate inclusion in decision-making
- Psychological safety
- Independent thinking and expression
Developing questions that represent the factors
Developing questions that represent the factors
Developing questions that represent the factors
COGNITIVE DIVERSITY POTENTIAL
A list of potential question items representing each of the factors was created with guidance from existing measures shared in academic journals.
The item selection process included multiple rounds of review by an industry expert and an academic professional to ensure that the items accurately reflected and appropriately represented each factor. Ultimately, these rounds of research and review resulted in 67 potential items across the factors.
COGNITIVE DIVERSITY CULTURE
Candidate question items representing each of the factors was created through interviews with subject matter experts and guidance from existing measures shared in academic journals.
Question validation study
Developing questions that represent the factors
Question validation study
COGNITIVE DIVERSITY POTENTIAL
The final phase involved testing whether the items accurately measured their intended factors by distributing a Qualtrics survey via Prolific to 400 finance sector employees in the UK.
After cleaning the data, exploratory factor analysis (EFA) and reliability testing were used to assess how effective and consistent each item was, removing those that were not meaningful. Mean index variables were then created, and Pearson’s correlation analysis was used to confirm that the factors were distinct. This process resulted in a final set of 24 items across the factors.
COGNITIVE DIVERSITY CULTURE
A study was undertaken by distributing a Qualtrics survey to 35 teams to test whether the items accurately measured their intended factors.
After cleaning the data, exploratory factor analysis (EFA) and reliability testing were used to assess how effective and consistent each item was, removing those that were not meaningful. This process resulted in a final set of 12 items across the factors.