This review paper explores the effectiveness of leveraging financial incentives to enhance organizational diversity. Traditional diversity management approaches have often proven insufficient in achieving lasting change, leading to the emergence of innovative models such as the Diversity Bonus and Equity Incentive Program. These models aim to incentivize inclusive behaviors and practices by aligning financial incentives with diversity goals. The paper highlights the potential of financial incentives to drive cultural transformation and promote diversity in measurable ways. However, challenges such as tokenism and unintended consequences must be addressed. Future research should further investigate the effectiveness of financial incentives in diversity management and refine practical applications to maximize their impact. The paper proposes two new models: the Diversity Bonus Program and the Equity Incentive Program, which offer structured approaches to incentivizing leaders and employees to contribute to diversity and inclusion goals. These models provide clear and objective criteria for evaluating performance and measuring progress, offering a more targeted and measurable approach to promoting diversity and inclusion within organizations.This review paper explores the effectiveness of leveraging financial incentives to enhance organizational diversity. Traditional diversity management approaches have often proven insufficient in achieving lasting change, leading to the emergence of innovative models such as the Diversity Bonus and Equity Incentive Program. These models aim to incentivize inclusive behaviors and practices by aligning financial incentives with diversity goals. The paper highlights the potential of financial incentives to drive cultural transformation and promote diversity in measurable ways. However, challenges such as tokenism and unintended consequences must be addressed. Future research should further investigate the effectiveness of financial incentives in diversity management and refine practical applications to maximize their impact. The paper proposes two new models: the Diversity Bonus Program and the Equity Incentive Program, which offer structured approaches to incentivizing leaders and employees to contribute to diversity and inclusion goals. These models provide clear and objective criteria for evaluating performance and measuring progress, offering a more targeted and measurable approach to promoting diversity and inclusion within organizations.