Diversity in the workplace is becoming an increasingly popular goal among many companies, and digital workplace solutions are providing a platform for people to communicate and express themselves. Having a diverse workforce improves more than just company culture and personal inclusion; there are a number of business benefits too. Here are several reasons why your company should strive to to have a diverse workforce:
Benefits of a diverse workforce
Positive effects on decision making
Having a diverse workforce can positively impact decision making in a company. Research has shown that business decisions made by a diverse team are often better than those made by individuals. When a group of individuals with different perspectives and backgrounds work as a team, there are often many more solutions brought to the table. Looking at a business problem from different perspectives can lead to well-informed and improved decisions.
A better innovation rate
Research has shown that diverse companies are nearly twice as likely to be innovative leaders in their field. Employees are exposed to different viewpoints and views of the world, which can often open doors that were previously undiscovered. Working as part of a diverse workforce has a knock-on effect on all employees, particularly when it comes to coming up with new ideas.
Better diversity = better innovation
An increase in creativity
Creativity is often a result of lived experience. Creative individuals have to draw on their own individual experiences and take inspiration from their background or culture. When a team of people who have all grown up in different cultures come together with a variety of lived experiences, great things can happen. A diverse workforce can look at a problem or project in several different ways, leading to more creative results.
Perspectives in planning and logistics
A workforce with individuals that have a variety of different skills, experiences, and educations can be hugely beneficial when it comes to business planning and logistics. Those from different social backgrounds can work together to discuss problems that others may not be aware of, or consider when planning.
Quick problem solving
Problem-solving is a key part of business, and doing it quickly and efficiently can have a positive impact on operations. A diverse team can pick apart a problem in many different ways and collaborate to find a solution that meets many different requirements.
A diverse team with different perspectives will solve problems faster
Increase in profits
All of the benefits listed above contribute to one of the most important parts of business: profit. A diverse team can help a company increase its profits in many different ways, often outperforming its competitors. This is down to diversity fostering faster problem solving, as well as the ability to bring different views and opinions to the table.
Lower turnover of employees
Many employees want to work in an inclusive workplace. Low staff turnover is often a result of feeling included and therefore having a willingness to engage in and commit to a company. Studies have shown that engagement is directly linked with diversity and inclusion in the workplace – highlighting why it is so important.
It’s beneficial for company culture and reputation
If a company recognises the importance of creating a diverse and inclusive workforce, it often has an effect on the overall reputation of the company. It creates a company culture that employees are happy to be a part of. Having a good reputation and company culture can have an effect on many different areas of business.
A good reputation can lead to bigger and better clients, or top talent wanting to work for your company. By taking diversity seriously, a company will automatically open doors when it comes to attracting talent from different cultures or backgrounds.
What does diversity in the workplace really mean?
In basic terms, it simply means a company striving to employee individuals from a variety of different social backgrounds. This does not just focus on ethnicity or religion as many people believe – there are a number of other factors that can make up a diverse workforce. This can include sexual orientation, gender, education, disability, age, and of course, personality. A company that only employees individuals who identify with a certain background, will only operate based on the viewpoints of those individuals.
We live in a diverse country. If a company wants to appeal to a larger audience, they also need to see the importance of welcoming a more diverse group of individuals into their workforce.
The business benefits of having a diverse workforce are clear. But it’s important to remember that employing a more diverse range of people is also beneficial for society as a whole.