If you’re running a business, maybe even one you’ve founded, you might want to consider hiring women and millennials for leadership positions. Doing so might just make your business more money.

According to a recent study from Development Dimensions International (DDI), a talent management consultancy, businesses that have women and millennials in leadership roles are more successful. The varied perspectives derived from these two demographics helps decision making and problem solving, which in turn leads to more business success.

The report’s co-author’s, Amy Lui Abel and Evan Sinar, told The Washington Times, “Our study found that women and millennials are not better at business, but they are better for business. The Global Leadership Forecast 2014 | 2015 found that companies outperforming their peers financially had more diversity in their leadership ranks — both in gender and in generations.”

The report surveyed more than 13,000 business leaders and 15,000 human resource executives. Of the companies surveyed, those in the top 20 percent of financial performance had 37 percent of their leadership positions filled by women, compared to 19 percent for companies surveyed that were in the bottom 20 percent of financial performance.

In addition, aggressive growth companies (e.g., technology startups) report a higher percentage of millennials in leadership positions (30 percent) than organizations with cautious growth (25 percent) or no to low growth (21 percent). Companies that were more financially successful were also more likely to have a higher percentage of millennial leaders.

“To improve business outcomes, bolster current development programs so that all leaders, including women and millennials, can improve their skills,” said Sinar, in a DDI press release announcing the report’s findings. “Development opportunities build confidence. Provide opportunities for stretch assignments, ensure formal practices are in place to facilitate those opportunities and fully commit your support to mentoring programs to develop and prepare new leaders.”

Retailers that are taking this advice to heart — and have been recognized by the National Association for Female Executives for their efforts in hiring and promoting women to leadership positions within their organizations — include Dell, Target and Wal-Mart.