This review paper explores the effectiveness of financial incentives in enhancing organisational diversity. Traditional diversity management approaches have often failed to achieve lasting change, prompting the development of innovative models such as the Diversity Bonus and Equity Incentive Program. These models aim to incentivise inclusive behaviours and practices by aligning financial rewards with diversity goals. Organisations can drive cultural transformation and promote diversity through measurable financial incentives, but challenges like tokenism and unintended consequences must be addressed. Diversity is crucial in modern organisational culture, reflecting the multifaceted identities of society. It fosters innovation, creativity, and sustainable growth. However, many organisations struggle with systemic barriers to diversity. Traditional initiatives like diversity training and mentorship schemes often fail to address root causes of inequality. Financial incentives offer a promising alternative by creating tangible rewards for inclusive behaviour. The paper proposes two models: the Diversity Bonus Program, which ties executive bonuses to diversity metrics, and the Equity Incentive Program, which rewards teams and individuals for achieving diversity-related objectives. These models provide clear, measurable outcomes and encourage accountability. However, financial incentives must be implemented thoughtfully to avoid tokenism or unintended consequences. The paper also discusses the theoretical frameworks underpinning diversity management, including Social Identity Theory and the Diversity Management Paradigm. These theories highlight the importance of managing diversity to harness its benefits and mitigate its challenges. The Diversity Climate Framework further emphasises the organisational culture's role in promoting diversity. While financial incentives can effectively promote diversity, they are not without limitations. Organisations must ensure that incentives are aligned with genuine diversity goals rather than just meeting quotas. Future research should explore the effectiveness of financial incentives and refine their practical applications to maximise impact. By strategically leveraging financial incentives, organisations can foster inclusive cultures that empower individuals to thrive.This review paper explores the effectiveness of financial incentives in enhancing organisational diversity. Traditional diversity management approaches have often failed to achieve lasting change, prompting the development of innovative models such as the Diversity Bonus and Equity Incentive Program. These models aim to incentivise inclusive behaviours and practices by aligning financial rewards with diversity goals. Organisations can drive cultural transformation and promote diversity through measurable financial incentives, but challenges like tokenism and unintended consequences must be addressed. Diversity is crucial in modern organisational culture, reflecting the multifaceted identities of society. It fosters innovation, creativity, and sustainable growth. However, many organisations struggle with systemic barriers to diversity. Traditional initiatives like diversity training and mentorship schemes often fail to address root causes of inequality. Financial incentives offer a promising alternative by creating tangible rewards for inclusive behaviour. The paper proposes two models: the Diversity Bonus Program, which ties executive bonuses to diversity metrics, and the Equity Incentive Program, which rewards teams and individuals for achieving diversity-related objectives. These models provide clear, measurable outcomes and encourage accountability. However, financial incentives must be implemented thoughtfully to avoid tokenism or unintended consequences. The paper also discusses the theoretical frameworks underpinning diversity management, including Social Identity Theory and the Diversity Management Paradigm. These theories highlight the importance of managing diversity to harness its benefits and mitigate its challenges. The Diversity Climate Framework further emphasises the organisational culture's role in promoting diversity. While financial incentives can effectively promote diversity, they are not without limitations. Organisations must ensure that incentives are aligned with genuine diversity goals rather than just meeting quotas. Future research should explore the effectiveness of financial incentives and refine their practical applications to maximise impact. By strategically leveraging financial incentives, organisations can foster inclusive cultures that empower individuals to thrive.