We examined how formal organizational diversity policies affect minorities' leadership-relevant self-perceptions and goals in two experiments. Organizational mission statements were manipulated to reflect policies acknowledging and valuing subgroup differences (Multiculturalism), de-emphasizing subgroup differences while valuing interindividual differences (Value-in-Individual Differences), or de-emphasizing differences in favor of an overarching group membership (Value-in-Homogeneity). Study 1 (N = 162) showed that, compared with Value-in-Homogeneity policies, Multiculturalism or Value-in-Individual Differences policies increase perceptions of an open diversity climate, which in turn enhance leadership self-efficacy of situational minority employees. Focusing on racial-ethnic minority and majority employees, Study 2 (N = 119) replicated and extended these findings by revealing similar results on anticipated leadership self-efficacy, positive outcome expectations, and the willingness to apply for higher level leadership positions.