Yes it does, well, sort of.
Increase the diversity of employees in your organization—for example, on the basis of race, gender, religion, nationality, and sexual orientation—and you'll automatically have a better company. Right? That's the prevailing belief anyway.
But according to HBS professors Robin Ely and David Thomas, the benefit of racial diversity alone, done right, pays off not just in a better company, but a more productive one.
I challenge this finding. I think it is a diversity of thought that is important. Hiring a black man, a white man, and an asian man who all think the same, just for the sake of racial diversity, isn't going to make your company any better.